Soon your realtor could be paying you. It’s illegal right now, but pending legislation would allow realtors and real estate brokers to pay home-buyers a portion of their commissions at the close of a deal. New Jersey is one of 11 states that don’t allow the incentive, said Sen. Nicholas P. Scutari (D-Union), one of the bill’s sponsors. It would be up to the individual real estate agent to decide whether to pay the client. “We’re trying to help the real estate market and to allow real estate agents and brokers to make deals happen,” Scutari said.
Patrick Lashinsky, chief executive of ZipRealty, a California-based online real estate brokerage, said the process would allow his company to streamline its business model.
“We do business in New Jersey, we do business in Pennsylvania, and for us we had to alter our model” in New Jersey, he said. “We do this everywhere else.”
The bill (S139/A373) cleared the Senate Commerce Committee todayy. It has passed the Assembly and now goes to the full Senate for consideration. Star Ledger.
Wow – I can’t wait to see what happens in Lakewood.
It is going to be a grosseh “balle gan” if this happens.
Luv to get some money back, but they might just jack up the price of the house to give back to the buyer. Not a real incentive. Unless one would need cash to pay for closing costs….
THE consumer will still be paying in the end.nobody works for nothing.