![]() If you want to save thousands of dollars of commission on your New Jersey home sale, Clever pre-negotiates a low 1.5% commission rate, or a flat fee of $3,000 if your home sells for less than $350,000, with full-service real estate agents in New Jersey. The home buyer is responsible for paying the broker fee. ![]() And if you’re selling, you’re absolutely in the driver’s seat. Though it’s an expensive market to buy into, New Jersey real estate looks like a great investment. New Jersey's booming state economy, driven by tourism and thriving biotech, tech, and pharmaceutical industries, should keep both the state’s appeal and housing demand high. Further, they’ve risen sharply over the past decade, and show no signs of slowing down. New Jersey home values are very healthy, far surpassing not only the national average, but the home values of its more high-profile neighbor, New York. The state also has a very diverse, forward-looking economy that looks primed for a protracted boom. New Jersey has it all: swank condos minutes from Manhattan, wooded estates, quaint small towns, possibly the best beaches on the East Coast along the famous Jersey Shore, plus Atlantic City, the East Coast’s answer to Las Vegas. » MORE: What you need to know about flat fee MLS services. The current state of the New Jersey real estate market If market conditions are mixed or favor buyers, it may be more challenging to persuade your realtor to accept a cheaper fee. If every factor points to New Jersey being a seller's market, then you may be in a good position to negotiate a lower commission rate with your agent. To judge the current state of your real estate market, look at these three factors: ![]() Most agents work on a commission split with their brokerage houses. But the exact amount the buyers agent receives depends on how his broker compensates him. » LEARN: Find our top tips for negotiating lower commission fees The industry average for buyers agents is somewhere between 2.5 and 3 of the sales price, depending on local custom and the sellers wishes. The opposite is usually true in a buyer's market. While selling FSBO can be a lot of work, it can result in a cost savings. However, it’s important to note that real estate commission is typically included in the. In an attempt to cut down on commission costs, some sellers decide to sell for sale by owner (FSBO), which saves the 3 they would pay to their listing agent. If you’re a buyer, you’re likely saving for a down payment and closing costs already, so the good news is that you don’t have to worry about saving additional funds for a real estate agent. In general, in a seller's market - where home sellers have more leverage than buyers - a listing agent's job is easier and they may be more willing to lower their commission rates. The short answer is no, buyers don’t pay realtor fees. The Seller pays the commission and some commission rates are variable, so by working directly with the listing agent, does not mean that they are going to write. While your personal situation will obviously vary, New Jersey real estate market conditions will affect all home sellers in your area. There are relatively few homes listed for sale.
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