Where can I find information on the listing fees or percentage that Realtors were getting in 2012 in New Jersey?

Asked by robindtennis, Stuart, FL Sun Dec 30, 2012

I plan to look for a listing realtor soon and would like to know what the typical listing percentage is in this market.

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21
Debra (Debbi…, Agent, Livingston, NJ
Sun Dec 30, 2012
Hi!

First of all, ALL commissions are negotiable - that is not only true, but it's the LEGAL response all agents should give due to the federal Sherman AntiTrust laws!

There is no such thing as a commission that is "typical, customary, standard or usual" !!!!
To say that may be interpreted as an attempt at price fixing, even if that was not the intent.... agents are really not allowed to discuss this in a public forum...unfortunately, many don't understand that!

So.........all of that "legal stuff" being said, what you really need to do is sit and interview several agents. They will discuss one on one with you what their commission structure is.
There are a lot of things to factor into your final decision - the commission , imo, shouldn't be the focal point.

Ask for a written, comprehensive marketing plan.....what marketing materials do they make use of........see exactly what they will be doing on your behalf to get your home sold.....ask for references if you want........ask what their "track" record and experience looks like - do they list a lot of homes?
What is their success rate at getting those listings sold?

See if you have a comfort level with the agent - listing your house means you will be having an ongoing relationship with this person, so feeling a sense of comfort and confidence in them is important, too.

Hope this helps you..........

Please feel free to reach out to me if I can be of help - I have lived and worked (27 yrs) in this area all my life..and grew up in W. Orange as a youngster (a million years ago!!), so I know it well.
Check out my website for more information.

http://www.debbieRoseSells.com

Best wishes, and have a happy and healthy 2013!!

DebbieRose
PrudentialNJ Properties

email: Debbie.Rose@PrudentialNewjersey.com
3 votes
Debra (Debbi…, Agent, Livingston, NJ
Sun Dec 30, 2012
This industry does not "publish" fees, because there are no set fees!

They really are negotiable.
We are independent contractors.

After speaking with a few agents, you will see what the range/percentage might be.

In addition, there are different business models out there these days - for example, flat fee listings,
a la carte services, full and "discount" business models........so you see, you really do need to speak with several agents so you can compare and contrast what is being offered.

If you're in FL, and the home is in NJ, all you have to do is make a few phone calls.

All the best in the new year!
2 votes
John Sacktig, Agent, New Jersey, NJ
Sun Dec 30, 2012
So, when I come here to Trulia to answer questions I try to be as honest and realistic with people as possible. In my post below knowing that the 07054 zip code is not in my area I recommend an agent that I know has been in the business for a while and has garnered much respect for her activities within the real estate community from colleagues and of course, her clients.

That being said, I need to reiterate that the right Realtor makes a difference.

Here is what happened. About 35 minutes after I posted that reply, I received a phone call from a crazy sounding, chest beating, I am the best in the world, bleating call me now Realtor that claims to be the best Realtor on the planet and how dare I recommend Debbie Rose, I am the best in the area, and that I know nothing of the area and she wanted to tell me that she was the best, not Debbie Rose.

I laughed into the phone and thought to myself, exactly my point.

Crazy people. There are a lot of crazy people out there. I know a few that are Realtors in my area, and now I met one from Essex County. I bet she sells a lot of houses, probably does. One time. As I am sure that the craziness puts a halt to repeat business.

Well sweetie, I can and will refer and support people that I find to be the best in the industry. Aside from Debbie, Jeanne Feenick has also posted here in this thread and I would and have recommended her professional services to others too.

You may have sold a gazillion houses this year… but I, my dear, will take quality over quantity every time.

Give Debbie Rose a call. Alhough, as I am told.. she is the second best Realtor in your area.
2 votes
thanks!
:)
Flag Sun Dec 30, 2012
John Sacktig, Agent, New Jersey, NJ
Sun Dec 30, 2012
All answers here are going to be the same... Realtor commissions are negotiable. You really need to focus on the Realtor, track record and what they will do for you -and- make sure you SEE what you are getting in your Realtor and the company that stands behind your chosen Realtor.

For my money, in your area I would give Debbie Rose a call. Debbie has been around a bit and is a consummate professional.

Regarding commission again, we all want to sell our homes and pay 2%, but there are marketing and time consuming efforts involved, bringing in the right Realtor makes a world of difference.

Give Debbie a call.

Good Luck! And let us know how the process turns out!

John Sacktig
Broker / Manager
Orange Key Realty
Direct: 732-213-1409
JSacktig@orangekeyrealty.com
2 votes
many thnaks for the vote of confidence!
Flag Sun Dec 30, 2012
Jeanne Feeni…, Agent, Warren, NJ
Sun Dec 30, 2012
The commission paid out to the selling broker/agent is published as a part of the listing. The full commission is generally not. Though not always the case, it is often true that the full commission is split evenly between listing and selling broker. So you can use this to surmise what the full commission may be from info that is accessible.

Commission is negotiated between seller and listing broker. I recommend you incorporate the commission discussion into your interview of finalists you identify for consideration. An important consideration is online marketing presence - the vast majority of buyers do their shopping online and so you want an agent that can assure you dominate exposure. Trulia is a great place to begin that search for agents.

Good luck to you!
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
1 vote
Hi Jeanne! Happy New Year!
Flag Sun Dec 30, 2012
Bev & Bob Me…, Agent, Livingston, NJ
Mon May 13, 2013
Robin,
I hope everything worked out well for you in your selection of a professional Realtor and you have been able to take advantage of this burgeoning market. I also hope the professional Realtor you ultimately chose gave you great service and guidance. Enjoy.
0 votes
Joan Congilo…, Agent, Freehold, NJ
Wed Jan 2, 2013
All commissions for listing your home in NJ are negotiable and many of the services that are included may vary from company to company. Most real estate companies do not charge any up front fees to list your home, they are paid only when your home actually sells & closes. I would recommend calling a few companies that you are considering & ask them.
0 votes
Edith Karoli…, Agent, Winnetka, IL
Tue Jan 1, 2013
Realtors fees are always always negotiable, they vary and could be different for various reasons, but there is no set fee!

When you talk to Realtors and ask for their fee, you will also find out what their services include and as with everything else in life remember YOU GET WHAT YOU PAY FOR.... You want to make sure
that you hire a detail oriented Realtor, a good communicator and negotiator on your behalf, and let
him or her explain to you in detail all that they will do, or also not do, because of the type of home, size, price range or location.... Each Realtor will explain their services and should do so in detail.....

Hope this helps if you need a recommendation for a good Realtor in your area not your you are asking about the fee in New Jersey and after your name is says Stuart Fl. so not sure where your
property is located, once we know for sure I can e-mail you a good recommendation.


Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties, edithellshomes@atproperties.com or EdithSellsHomes@gmail.com Check out my website at http://tinyurl.com/YourRealtor4Life
get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)
0 votes
Terry Farnsw…, Agent, Lisle, IL
Sun Dec 30, 2012
Robin,

I don't believe there is any "officially published" data on what you are looking for. The reason being is that real estate commissions vary, and are negotiable. If you want to know what a specific agent/broker charges, it would be wise to call/email a few of them directly and compare the services they provide, and what they charge.

You can go with a "full-service" broker, where you are going to likely pay an agreed upon percentage that can often be negotiated. You'd only pay if your house sold. You can also go with a "flat-fee" MLS listing, where you pay an upfront to be on the MLS for a certain period of time regardless of if your home sells or not. You'd also likely have to pay a smaller co-op commission out to the buyer's agent who brings you a buyer if you go the flat-fee route.

Bottom line - call a few agents, and a few services - compare the what they charge, and determine what is right for your budget and situation.

Hope that helps!
0 votes
Laquita Baez, , New Jersey
Sun Dec 30, 2012
To answer your question directly and to the point as I see you are getting frustrated with all the other answers, there is NO WERE that you can find direct public information of the listing fees for 2012.

Laquita Baez
Licensed Realtor in NJ and GA
Weichert Realtors
908-277-1200 office
973-687-7095 cell
0 votes
George Walsh, Agent, Summit, NJ
Sun Dec 30, 2012
Try "google." There is no standard commission in NJ. I doubt the Real Estate Commission (In NJ that comes under Dept of Banking and Insurance) has any running records but you might try there.
0 votes
Terry Orr, Agent, Maplewood, NJ
Sun Dec 30, 2012
All comissions are negoiated at the time of the listing between seller and listing agent. it is also decided at the time what split of that will be between listing agent who incurs marketing expences and buyers agent. In the case of short sales the lender has the final say in thta percentage reguardless of prior listing % . standard is anywhere from 5-6.5 %
0 votes
Louis Caprar…, Agent, West Orange, NJ
Sun Dec 30, 2012
New Jersey is the most densely populated state in the nation. As a result there are several different markets within the state. South Jersey is different from the shore are and both are different from north Jersey. I can only speak to what is happening in the Essex, Union, Morris counties. The other realtors who have indicated that there are no set commissions are absolutely true. All commissions are negotiable. I don't know of any published information on commissions, but from a practical standpoint, however, most realtors will seek a commission in the 5-6% range in order to make a living. We can afford to take a smaller commission on a higher priced home. I hope this helps. You can reach me at loucaprario@comcast.net.

Lou Caprario
ERA Carano Realtors
444 Northfield Ave
West Orange, N J 07052
0 votes
robindtennis, Home Buyer, Stuart, FL
Sun Dec 30, 2012
OMG - I was not looking for a slew of realtors to sell themselves to me. I guess Trulia was not the place to ask this question. I will look elsewhere. thanks anyway
0 votes
C'mon.. really? You are on a Realtor site, home sales and such, Realtors come here to answer questions people and and hopefully lead to a business relationship. Your question happens to be "not allowed" to b discussed and although I do not agree with it, If I or another were to answer any further, someone someplace would have a cranky say and report whomever had the conversation. If you have been to the rodeo before, you know that Realtor commissions are negotiable. Good Luck!
Flag Sun Dec 30, 2012
robindtennis, Home Buyer, Stuart, FL
Sun Dec 30, 2012
Thanks but I was asking if there is public information compiled anywhere so that I can see what others have been paying. Every other industry and professional I do business with has some form of visability to the fees that one would expect to pay for services. This is not the first home I have sold so I know the drill about interviewing realtors.
0 votes
To the best of my knowledge, there is no public information compiled regarding commissions...there is no published visibiliytas as they really are negotiable! You might want to look at the National Association of Realtor's website, as they may have some information , but it probably would be national stats, not local.
All the best in the New year!
Flag Sun Dec 30, 2012
Bonita Areman, Agent, Livingston, NJ
Sun Dec 30, 2012
Robin, lots of interesting answers but I will tell you that you get what you pay for. Deb is correct that you want to make sure that you are provided:
1. A comprehensive marketing plan
2. Professional photos, floor plans, virtual tours, and professionally written brochure
3. Someone who is a top player in West Orange - our town has a bit longer absorption rate (how long it takes for all available homes to sell - aprox 6-7 months) so extensive marketing andf web presence is key to success!
4. Follow through and good communication are essential between your agent and the potential buyer pool as well as with you the seller
5. Associate with a Real Estate Agency that is a leader in this town and county. Coldwell Banker is the top real estate by listing units sold in this area-these stats are right from Garden State MLS.

I am one of the top 70 agents at Coldwell Banker and I live in West Orange, own investment property here, and love this town-which most of the other agents responding do not bring to the table. Working with a listing agent is a partnership. I think you should interview agents in person or on the phone, let them show you their track record and success (make sure they bring it in writing)-than you make the decision as to the realtor that makes you feel the right level of Trust. Your welcome to check out my website http://www.bonitaAreman.com or call me 973-568-0341.

Also check out my recommendations on Trulia!
0 votes
Robert Stern, Agent, Livingston, NJ
Sun Dec 30, 2012
Robin,

The only advice that makes sense to me in this market is to first see what your home is worth in this market.

As Debbie said "all commissions are negotiable in the state of NJ"

I always tell people who are interviewing me to be their listing agent, you should be hiring the person that YOU think is going to do the best job for you. Hiring based on commission only will only get a person that works only part of the job.

I would love to talk to you more about this and what it takes these days on selling your home in this challenging market.

Marketing
Internet Exposure
Open House Programs
Staging
Video
Negotiating
And more...

You can always call me on my cell: 201-618-0975

Whatever you decide to do I wish you a happy and healthy New Years!
0 votes
Happy new year Robert!
Flag Sun Dec 30, 2012
Jay Garcia, Agent, West New York, NJ
Sun Dec 30, 2012
Hi Robin, if your property is located in Northen, NJ. You can list it with me and I will help you to sell it quickly and for the top price. Please contact me at your earliest convinience.
Jay Garcia
201-888-5328
Frontier Realty
7911 Bergenline Ave
North Bergen, NJ 07047
0 votes
Laura Feghali, Agent, Stamford, CT
Sun Dec 30, 2012
Hello Robin,
I suggest that you interview agents from a few real estate firms in your area to determine what their fees are as well as the amount of marketing exposure they can give you which is very important in getting your home maximum exposure to potential buyers. Listing percentages are negotiable by law. A discount brokerage typically will charge you less than a full service brokerage firm but may not give you as wide a marketing reach as a full service firm.

Best wishes to you!

Laura Feghali
Prudential Connecticut Realty
0 votes
Eric Schwartz, Agent, South Orange, NJ
Sun Dec 30, 2012
Hi. Listing commissions are between the broker and the seller. Where is your property?
My name is Cherre Schwartz and I work in Essex County. If this is where your property is call me to discuss commission. 9739516665. Happy new year.
0 votes
Jonathan Cit…, , 07040
Sun Dec 30, 2012
robindtennis,
A very good question. The old saying goes, 'you get what you pay for.' In this market at this time in Northern NJ, it is standard for a listing agent to ask for a brokerage fee of between 5% and 6% of the sale price of the property. The days of the 'discount brokerage firms' are gone. But, remember: everything thing is negotiable, even listing fees. Nothing is written in stone. A quality listing agent will spend the time, money, and energy--well and wisely--to get you the most money for your property in this real estate market at this time.
Wishing you all the best, and, of course, a very happy new year.
Jonathan
jonathancitron@kw.com
0 votes
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