When selling a home and negotiating the agent's commission, you have to think about it in two ways. You want the lowest commission because you want to save the most money. But the agent is not just asking for a higher commission for themselves. If the buyer's agent sees two similar homes, both around the same price and condition, and one is offering him/her 3% commission (his split of 6%, with your agent) and another is offering him 3.5% (the split of 7%), he/she is more likely to choose the higher. Some real estate professionals consider this unethical, but it does happen more often than not.... more
Since I doubt you will many CPAs on this network, check with your accountant to see what you may or may not have with respect to cap gains in NJ and possible deferments.
Normally if listing broker A showed the property to a buyer during the listing period and they come back and decide to purchase the property after the listing expires, broker A would have a right to commission. I've never heard of a prospects excluded list on a standard listing agreement...was there an added addendum?... more