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Old 12-16-2007, 06:37 PM
 
23 posts, read 99,830 times
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NORMALLY WHAT PERCENTAGE OF COMMISSION WILL SELLER'S REAL ESTATE AGENT GETS? ......

IF BUYER HAS SEPARATE AGENT WHAT SHARE SHE/HE GETS??

DO THE BUYERS GET ANY % FROM HIS/HER AGENT SHARE??? IF SO HOW MUCH?????
I THINK THIS MAY HELP TO MEET SOME PORTION OF CLOSING COSTS FOR THE BUYER
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Old 12-16-2007, 06:42 PM
 
9,124 posts, read 36,385,838 times
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Typically commissions total 6%, and the listing and selling agents split them at 3% each. And no, the buyer doesn't get a piece of that from his agent normally.
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Old 12-16-2007, 07:22 PM
 
Location: GA
2,791 posts, read 10,810,102 times
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Bob, is the commission fee negotiable? thanks.
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Old 12-16-2007, 08:54 PM
 
Location: Hackensack, NJ
777 posts, read 2,381,085 times
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You can negoitate the commission in NJ.
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Old 12-17-2007, 10:41 AM
 
432 posts, read 1,879,465 times
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Commission fees are always negotiable, for the whole package. Buyers agents in northern NJ are usually offered 2.5% of the sale price as a commission, some are 2% and some are offered as incentives at 3%. The buyer does not get anything from the agent. The buyer does not pay the agent usually, unless they have a separate agreement concerning commissions lower than 2% or fsbos who are not paying a fee to a buyers agent. The commission rate for a buyers agent is registered with the mls - generally these are not negotiated. This is paid by the selling brokerage to the buying brokerage.
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Old 12-17-2007, 10:47 AM
 
23 posts, read 99,830 times
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Thanks for the information...but i heard from some buyers that they took some benefit from their agents because buyers buying the house and giving the business to the agents
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Old 12-17-2007, 11:14 AM
 
Location: Las Vegas
250 posts, read 1,112,996 times
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some agents may offer gifts/cutbacks to buyers. This was very common in Vegas during the boom and some agents would advertise it.
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Old 12-17-2007, 09:41 PM
 
Location: Central New Jersey
1,289 posts, read 6,098,556 times
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Quote:
Originally Posted by Kl_1793 View Post
Thanks for the information...but i heard from some buyers that they took some benefit from their agents because buyers buying the house and giving the business to the agents
We are not allowed to legally give kickbacks for working with us. You van get a gifts or something to that nature but giving you money for working with an agent is ILLEGAL.
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Old 05-17-2008, 03:27 PM
 
5,438 posts, read 5,945,679 times
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Quote:
Originally Posted by Kl_1793 View Post
NORMALLY WHAT PERCENTAGE OF COMMISSION WILL SELLER'S REAL ESTATE AGENT GETS? ......

IF BUYER HAS SEPARATE AGENT WHAT SHARE SHE/HE GETS??

DO THE BUYERS GET ANY % FROM HIS/HER AGENT SHARE??? IF SO HOW MUCH?????
I THINK THIS MAY HELP TO MEET SOME PORTION OF CLOSING COSTS FOR THE BUYER
There is no normal or standard amount, but you can get a rebate from your buyer's agent that can help offset closing fees in most states; or alternatively, you can receive a rebate check after closing from your agent.
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Old 05-19-2008, 01:58 PM
 
432 posts, read 1,879,465 times
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Quote:
Originally Posted by scgraham View Post
There is no normal or standard amount, but you can get a rebate from your buyer's agent that can help offset closing fees in most states; or alternatively, you can receive a rebate check after closing from your agent.

I've never heard of this in NJ, and believe it is illegal here.

We do have seller givebacks in NJ, where the offered price includes the giveback which then covers the closing costs.
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