NJ Real Estate Agent
In New Jersey we are allowed to share part of the buyer's broker commission with the buyer. This is called the NJ Home Buyer Rebate, or Commission Rebate.
The rebate gets applied directly to your closing costs, which means less cash that you need to bring to closing!
Here is an example of how the rebate works:
The total commission is 5% of the property's purchase price.
The listing broker keeps 2.5% and the buying broker gets 2.5%.
I will split the 2.5% commission with you. You receive a rebate of 1.25%
A rebate for a home purchased for $800,000 could equal $10,000 (or more) to you at the closing!
Buyer's broker commissions can range from 2% - 3%, and we have seen as high as 4%. The rebate amount will depend on how much the seller is offering for buyer's broker commission.
Get started with your Buyer Rebate today!