Did you know buyer rebates are now allowed by the New Jersey Real Estate Commission? Would you like to attend a class on how they work? Please call Bruce Parker 732 266-3366 for more information.
The real estate commission has just a few rules.
Buyer Rebate Program
Did you know that the N.J. Real Estate Commission has just announced a rule change that allows
Real Estate Brokers to pay buyers a rebate?
Call 732 266-3366 for the amount offered on the home you are interested in.
Restrictions Apply. Please see below.
The New Jersey real estate commission has imposed rules and guidelines which must be followed in order for the buyer rebate to be legal. The first requirement is that the buyer and broker must enter into a "Rebate Agreement" at the outset of the relationship. In other words, a written agreement must be entered into before viewing homes or making offers. The Buyer will be obligated to pay any applicable taxes for the receipt of the rebate and should contact a tax professional concerning the tax implications of receiving the rebate. All parties to the transaction, including the mortgage lender, must be notified of the rebate. The rebate is not contingent on the Buyer using any services or products. The rebate will be paid as a credit to the Buyer at closing or as a check from the closing agent, reducing the commission to the Real Estate Broker.
Real Estate Buyer Rebates in New Jersey are now allowed.