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Old 10-26-2008, 10:21 AM
 
2 posts, read 4,877 times
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In South Jersey, what commission does an agent get when that agent brings a buyer leading to sales agreement, but the seller did not sign any listing agreement or even verbally agree to a commission percentage?

Last edited by niteshift; 10-26-2008 at 10:29 AM.. Reason: spelling
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Old 10-26-2008, 03:33 PM
 
Location: East Brunswick, NJ
208 posts, read 853,033 times
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I would recommend 2.5%
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Old 10-26-2008, 03:59 PM
 
138 posts, read 509,862 times
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Quote:
Originally Posted by niteshift View Post
In South Jersey, what commission does an agent get when that agent brings a buyer leading to sales agreement, but the seller did not sign any listing agreement or even verbally agree to a commission percentage?
I do believe the answer is "0%." No contract, no agreement, no commission.
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Old 10-26-2008, 03:59 PM
 
Location: Stewartsville, NJ
7,577 posts, read 22,606,032 times
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Quote:
Originally Posted by niteshift View Post
In South Jersey, what commission does an agent get when that agent brings a buyer leading to sales agreement, but the seller did not sign any listing agreement or even verbally agree to a commission percentage?
Legally... 0 %! But if you want to try and keep the buyer, I would go with 2 to 2.5%.
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Old 10-26-2008, 04:37 PM
 
Location: East Brunswick, NJ
208 posts, read 853,033 times
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If I bring a buyer to a FSBO, I do not make the homeowner sign an agreement saying that they will pay me. However, it is expected that if I bring a buyer, I will be receiving a commission. If the seller decided not to offer one (which I did have in one rare case) my buyer actually stepped up to the plate and told the seller they were not willing to work with them if they were not willing to work with me and we moved on. I also am not saying you should pay them 3%, because I feel 2.5 is the standard nowadays. If you feel that is too much, then 2% is lower but will do just fine.
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Old 10-27-2008, 05:43 AM
 
1,787 posts, read 5,747,317 times
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Quote:
Originally Posted by Jillian Mason View Post
If I bring a buyer to a FSBO, I do not make the homeowner sign an agreement saying that they will pay me. However, it is expected that if I bring a buyer, I will be receiving a commission. If the seller decided not to offer one (which I did have in one rare case) my buyer actually stepped up to the plate and told the seller they were not willing to work with them if they were not willing to work with me and we moved on. I also am not saying you should pay them 3%, because I feel 2.5 is the standard nowadays. If you feel that is too much, then 2% is lower but will do just fine.
I thought the reason a homeowner sells "FSBO" is to avoid paying a commission. The seller decides how much to give the agent, if anything. I never heard there was a standard percentage that FSBO's owe agents. (?) Is that an unwritten law or wishful thinking?
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Old 10-27-2008, 05:54 AM
 
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I sold FSBO in June 2007 and gave the buyer's agent 2.5%.
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Old 10-27-2008, 07:04 AM
 
Location: Martinsville, NJ
6,175 posts, read 12,937,961 times
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Quote:
Originally Posted by niteshift View Post
In South Jersey, what commission does an agent get when that agent brings a buyer leading to sales agreement, but the seller did not sign any listing agreement or even verbally agree to a commission percentage?
Did the real estate agent bring in the buyer without ever confirming that someone would pay him? A silly move. And from a legal standpoint, I don't think the seller would be obligated to pay him a fee.
UNLESS....
Your post suggests that maybe the agent had reason to believe the seller was offering a fee to agents who brought a buyer. Maybe I'm reading it wrong, and if that's so, please tell me, but...You say "the seller did not sign any listing agreement or even verbally agree to a commission percentage." Although the seller didn't sign or verbally agree to a pervcentage, was there a discussion, or some other reason for the agent to honestly believe you were offering a fee? If that's the case, even though the seller didn't sign anything, I would say he ought to pay it.
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Old 10-27-2008, 07:26 AM
 
Location: East Brunswick, NJ
208 posts, read 853,033 times
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Quote:
Originally Posted by timneh5 View Post
I thought the reason a homeowner sells "FSBO" is to avoid paying a commission. The seller decides how much to give the agent, if anything. I never heard there was a standard percentage that FSBO's owe agents. (?) Is that an unwritten law or wishful thinking?
Lol, I guess just wishful thinking on my part, but I've gotten 2.5% from two FSBO, and 2.5 is the norm commission for today's market.
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Old 10-27-2008, 09:30 PM
 
Location: Morristown, NJ
14 posts, read 49,794 times
Reputation: 17
Whatever is on the sales contract which is signed by the seller and buyer.
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