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05-16-2007, 09:33 PM
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Junior Member
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Join Date: Mar 2007
3 posts, read 4,068 times
Reputation: 11
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real estate buyer broker commission
Hi,
does anyone know if we can share part of the buyer broker commission in any way or form when I buy a real estate property! Is it possible in NJ to negotiate with my broker (buyer) on it.
Thanks in advance for sharing your experiences & thoughts
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05-16-2007, 10:22 PM
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Not a member
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Join Date: Mar 2007
Location: 32082/07716/10028
1,346 posts
Reputation: 167
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Quote:
Originally Posted by vaishy
Hi,
does anyone know if we can share part of the buyer broker commission in any way or form when I buy a real estate property! Is it possible in NJ to negotiate with my broker (buyer) on it.
Thanks in advance for sharing your experiences & thoughts
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everything can be negogiated but I don't think that as a buyer you have much leverage, the pie isn't that big |
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05-17-2007, 07:24 AM
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Real Estate Agent
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Join Date: May 2007
Location: Palm Coast, Fl
2,010 posts, read 1,545,495 times
Reputation: 641
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Depends on the RE laws in your state and how you word it and it all depends on whether your Realtor is willing to reduce the pay you told her(him) you would give if they did the work. It's like you going to a job, doing it, and then your boss looks at you and says, well, nice job and I like it but I've decided I really don't want to pay you the full salary I promised you...
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05-17-2007, 07:49 AM
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Senior Member
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Join Date: Jan 2007
880 posts, read 1,122,198 times
Reputation: 202
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It probably varies by state, but in one of the offers we got on a home we were selling, the buyer agent was going to give $3,000 from his "buyer commission" to the buyers. Based on the state laws, he couldn't do it directly so we (the sellers) were asked to reduce the price by the amount and provide a "reduced commission" to the buyer agent.
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05-17-2007, 08:19 AM
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Realtor
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Join Date: Aug 2006
Location: Nine Mile Falls/Spokane, WA
583 posts, read 818,111 times
Reputation: 191
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I think it's a state regulated thing. As an agent, I prefer to offer my clients a portion at closing to pay for part of their closing costs, or a home warranty, or the inspection - something like that. But I don't like when they ask me to give up a part of my pay check. Palmcoasting said it perfectly a couple posts ago. It's our income and this is how we support our families. Sometimes you need every penny that you've been waiting for on a transaction that's closing.
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05-19-2008, 05:56 PM
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Senior Member
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Join Date: May 2007
1,030 posts, read 553,056 times
Reputation: 139
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Quote:
Originally Posted by vaishy
Hi,
does anyone know if we can share part of the buyer broker commission in any way or form when I buy a real estate property! Is it possible in NJ to negotiate with my broker (buyer) on it.
Thanks in advance for sharing your experiences & thoughts
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NJ is still an anti-rebate state, but I believe that is about to change.
In the Atlanta market, rebates are legal from buyer's agents; what's more, a good buyer's agent will help get a lower price and better terms for the buyer when dealing with the seller. |
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