Home Selling in 07112>Question Details

ljones, Home Seller in Newark, NJ

How much do I need to pay to a buyers broker in New Jersey?

Asked by ljones, Newark, NJ Wed Dec 18, 2013

I was approached by a buyer to buy my home that was not up for sale. I know how much I would like to receive on a net basis, I assume I need to gross that number up to pay for buyers broker and an attorney. I need to know if my assumption is correct and by how much.

Help the community by answering this question:


All commissions in NJ are negotiable.

Armindo Ventura
Broker of Record/Owner

Ventura Realty, Inc.
P.O. Box 5521
348 Adams Street
Newark, New Jersey 07105
Tel: 973-465-4001
Cell: 201-306-5200
Fax: 973-559-1171

E-mail: agventura@yahoo.com
Website: http://www.agventura.com

This e-mail message from Ventura Realty, Inc. is for the sole use of the intended recipient and may contain confidential and privileged information. Any unauthorized review, use or distribution is prohibited. If you are not the intended recipient, please contact the sender by reply e-mail and destroy all copies of the original message. This email and attachments to this email shall not be deemed an offer, as no documents are binding unless and until executed.
0 votes Thank Flag Link Wed Dec 18, 2013
The rate of commission for Real Estate Agents in New Jersey varies. There isn't a set commission, which means you can try to negotiate with an agent for a percentage that fits both of your needs.

Keep in mind, if you list your home for sale with an agent, the total commission on your listing is split between your agent and the buyer's agent.

Is the buyer who approached you currently represented by an agent? If so, you can negotiate either a percentage or a flat fee for them.
0 votes Thank Flag Link Wed Dec 18, 2013
You're very welcome. Most people don't realize that agents are technically paid by the sellers. Good luck!
Flag Wed Dec 18, 2013
Thank You for your response. The buyer is represented by an agent. It is interesting that she works for the buyer, but I get to determine how much she is paid.
Flag Wed Dec 18, 2013

In NJ we do not have any standard commission
you can negotiate with the agent.
If you would like some more advice and representation please contact me.
I have a lot of investors buying in Newark an may be able to get you better offers.
0 votes Thank Flag Link Wed Dec 18, 2013
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