real estate buyer broker commission (agent, price, property, legal)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
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
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
everything can be negogiated but I don't think that as a buyer you have much leverage, the pie isn't that big
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...
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.
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.
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
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.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
