In New Jersey we are only allowed to share the buyer's broker's commission with the buyer.
Here is an example of how the NJ Home Buyer Rebate works:
The total commission is 5% of the property's purchase price.
The listing broker keeps 2.5% and NJ Real Estate Boutique llc keeps 2.5%.
NJ Real Estate Boutique llc then splits the 2.5% commission with the buyer, which is called the NJ Home Buyer Rebate. You may receive a rebate of 1.25%* and NJ Real Estate Boutique keeps 1.25%.
Buyer's broker's commission can range from 2% to 3% but we have seen as high as 4%. We can help you pay for closing cost in NJ.
Find out more about the NJ Home Buyer Rebate.
*The NJ Home Buyer Rebate is subject to change depending on how many properties are shown.
Consult a tax professional concerning any tax implications of receiving the rebate. It is the purchaser's obligation to pay any applicable taxes.
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In New Jersey Commissions are negotiable.