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Old 05-05-2015, 08:08 AM
 
25 posts, read 50,153 times
Reputation: 21

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Hi Folks,

Considering to buy a home within the network. No doubts or questions about house or sellers. Everything is cool there. We are in negotiations process now and i want to put in a decent offer keeping no agent commission cost for seller in mind. I know that Agent commissions are negotiable. What is a typical Real Estate agents commission for a $850K house in NJ. Does it vary depending upon county or town ?

Thanks!
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Old 05-05-2015, 09:13 AM
 
800 posts, read 1,296,588 times
Reputation: 795
5-6% usually split between the seller and buyer agent.
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Old 05-05-2015, 12:38 PM
 
25 posts, read 50,153 times
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Cool..Thanks!
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Old 05-07-2015, 01:56 PM
 
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If the seller listed through an agent, you likely won't see any discount by not using an agent for yourself. The agency contract signed by the sellers will be for a 5-6% total commission; the seller's agent keeps all of it if the buyer doesn't have an agent.

If this is a FSBO, then there are no commissions since there are no agents.
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Old 05-07-2015, 02:08 PM
 
Location: Martinsville, NJ
6,175 posts, read 12,935,424 times
Reputation: 4020
Quote:
Originally Posted by InvestingInNJ View Post
Hi Folks,

Considering to buy a home within the network. No doubts or questions about house or sellers. Everything is cool there. We are in negotiations process now and i want to put in a decent offer keeping no agent commission cost for seller in mind. I know that Agent commissions are negotiable. What is a typical Real Estate agents commission for a $850K house in NJ. Does it vary depending upon county or town ?

Thanks!
What does "within the network" mean?

You are considering a house that is already listed for sale? In that case, the commission has already been agreed to by the seller & his agent (if he is using an agent.) You do't usually have the ability to change that in the offer process.

Your offer should focus on the total you will be paying. In most cases (and until you tell us differently, I will assume that you are buying a house that is listed for sale in the most common way,) the seller & agent have agreed to a commission, and part of that commission is offered to a broker who brings a buyer. The buyer does not usually pay a commission separately. Put together an offer that reflects the total you are willing to pay for the house. Don't worry about what the seller does with the money once you give it to her for her house.
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Old 05-08-2015, 03:23 AM
 
6 posts, read 15,285 times
Reputation: 11
Sellers and buyers split the commission. If you don't use an agent to buy then the sellers agent takes the whole thing. This gives you some leverage as the buyer as the sellers agent will push hardest for you as she will make the most money from the transaction. You can also use that as a negotiating point to get the final price down. The down side is that you won't have any representation, and the waters are swimming with sharks.
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