BUYER'S ADVISORS is paid the same way traditional real estate agents are paid.
When you purchase a property in New Jersey, the real estate commission:
- is due and paid at the Closing on your new home (if you don't buy a home, you owe us nothing),
- is included in the Purchase Price paid to the Seller for the home (it is not a separate add on),
- is a percentage typically agreed between the Seller and their Listing Agent at the time their Listing Contract is signed (the total averages between 4% and 5% of the Purchase Price),
- if the Seller does not agree to specify the commision due the Buyer's Agent in their agreement with the Listing Agent, the amount due at Closing is that agreed between the Buyer and the Buyer's Agent in the NJ Real Estate Commision's Buyer Agent Agreement which is required to be executed by every Buyer with any agent who shows them the property.
- and, the total real estate commission is a split at Closing between the Real Estate Agent for the Seller and the Real Estate Agent for the Buyer.
Because our commission is paid out of the Seller’s proceeds at the Closing, there is no additional cost for our services.
We can also help our Home Buyer purchase a "For Sale By Owner" property. In this case, the real estate commission is only 3% (not the 4% to 5% one would pay when the property is in a Multiple Listing System). With a "For Sale By Owner", we handle the whole transaction (there is no Seller Real Estate Agent), and only represent our Home Buyer. Ordinary real estate agents can't help a Home Buyer directly buy a "For Sale By Owner".
NOTICE:
A Home Buyer pays the same real estate commission using an Agent who does not work for them than they pay if we help them purchase the same property.
However, there is a big difference.
As their Buyer’s Agent, we work only for our Buyer's "best interests". We never work for the Seller against our Buyer. If we are able to negotiate the best price, terms and conditions for our Client, as well as help them find favorable financing rates, terms, and closing fees, they actually end up paying less working with us.