New Jersey Real Estate Commission

 

In New Jersey, Real Estate Agents are required to disclose to you, at the very beginning, how they intend to work with you, as a Home Buyer.

There are 4 types of business relationships that Real Estate Agents are legally permitted to engage in in New Jersey.

  1. As a "Seller’s Agent" - working only for the Seller.
  2. As a "Buyer’s Agent" - working only for the Buyer.
  3. As a "Disclosed Dual Agent" - working for both the Buyer and Seller and can not favor either.
  4. As a "Transaction Broker" - working with a Buyer or a Seller or both without representing anyone and can not promote interests of one party over the other.

Of these 4, only #2 allows a Real Estate Agent to represent a Home Buyer's "best interests" as the "Buyer's Agent".

 

 

 

For more detail about these 4 types of agency, please refer to the New Jersey Real Estate Commission's Consumer Information Statement.