Home Selling in Montclair>Question Details

Kevin, Both Buyer and Seller in Montclair, NJ

Is there an average fee that a realtor will charge in New Jersey and if so how much is it typically?

Asked by Kevin, Montclair, NJ Wed Apr 8, 2009

I'm trying to weigh whether I can afford to list with an agent or try to sell my place myself because I need the majority of the money I will make from the sale for a down payment on a new place.

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5
Kevin:
Statistics show that a Realtor will sell a home for 10-12% more than a For Sale By Owner, making the fee for service of a Realtor for free and putting another 5-7% in your pocket at closing and without the hassle of trying to sell it on your own. But it can be done.
No one says you cannot. Visit:
http://www.prudentialnewjersey.com/jeff.halpern/FOR_SALE_BY_…
for 20 Steps to Sell your home on your own.
Good luck!
Jeffrey
0 votes Thank Flag Link Thu Apr 9, 2009
Commission fees, usuallt paid by the seller out of closing proceeds, are always negotiable. Check the NAR (national Association of Realtors) website, http://www.realtors.org. You'll find that by listing with an agent you'll get more for your home and sell it in a shorter period of time.

Laura Giannotta
Keller Williams Atlantic Shore
0 votes Thank Flag Link Thu Apr 9, 2009
Kevin, agents are not allowed to state 'average' fees. Many have probably seen the trend of vague answers but it's not because agents are avoiding the issue it's because we have to avoid being found attempting to set fees. I'm sure there is a better way to explain that and you can look under 'realtor antitrust' in google. It will lead you to appropriate links and explain it.

That being said..you'll have to interview a few agents and compare what they charge to what they offer. If your money is tight, you need to make the most informed decision you can. Talk with the agents about their fee structure and your budget. If three agents suggest a list price range and the 4th suggests that you list in a range that will net you more money IF it sells..you can suspect that the first three were more on line. it doesn't matter what you are told you can list for, it matters what is in your pocket for your next purchase. Talk with the agents about your situation and maybe you can find someone who will work the listing and your future purchase the way you need it.

I don't agree with, but understand the nature of , the posts about a buyer's agent commission being free. Sometimes I get paid through the listing contract that the seller has with the listing agent but sometimes my buyer pays my commission (for sale by owners who will not agree to pay and listed homes with a commission below my agreement with my buyer). In those circumstance, the buyer's commission is certainly not free. It is a hit to my buyer's clients pockets and I am acutely aware of that. All of my clients who have paid all or a portion of my commission still talk with me, though!
0 votes Thank Flag Link Wed Apr 8, 2009
Dear Kevin,

Let's start with there is no fee to the buyer, the seller pays the fee to the realtor.

That being said, it is true that all realtor fees are negotiable. Each company has their own specific marketing program and part of that is the fee they charge. Be aware though that you do get what you pay for. There are some places out there that will charge a minimal fee and you will not get the FULL service you need.
This is a challening market as there are a lot of properties on the market and you want to hire an experienced and responsible agent that will give your not only the company's best but their own full attention.

My office is in Montclair and I reside in Glenridge and would like to be of any help you may need.

Please feel free to contact me and I will be happy to give you a FREE market analysis and show you what my office and I can offer you.

I can be reached at:
ilia.wood@prudentialnewjersey.com
or 201-892-8978
you can also visit my website.

Best of luck!
Web Reference: http://www.iliawood.com
0 votes Thank Flag Link Wed Apr 8, 2009
Kevin,

In NJ you can negotiate the Realtors fees. But as the saying goes, "you get what you pay for". In this challenging market, you need a "FULL SERVICE" broker. Than means that the broker is a professional and is well versed in EVERY WAY and will use ALL AVAILABLE venues to market your home. Proper preperation, pricing and marketing are all very important and wil serve to get you the most value for your investment....If I can help in any way, dont hesitate to call or contact me. I am located in Verona & would love to chat with you conceerning your choices.

In BUYING, the commission in paid by the seller so there is NO FEE to the Buyer!

Stay well.
0 votes Thank Flag Link Wed Apr 8, 2009
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