How is real estate commission split in NJ
Jane Sadowy - Sales Associate
Most home sellers and home buyers get confused about who gets paid with the commission fees when selling a home or buying a home.
Real Estate agents are normally paid a commission on sales in New Jersey. The seller may pay 4 to 7% of the sales price of their home and 50/50 between the seller and buyer's broker. It is up to the brokers and real estate agent and a signed agreement what is agreed upon what percent the agent will receive after sale.
Generally, for a new starting agents, the split is 50/50. Other in house costs may be involved to be deducted from the real estate agents commission split.
Most agents will need to sell ten homes or more a year to earn a decent income.
How much work is involved to be a real estate agent?
The same as working a full time job. A full time agent will generally send as much time a day to help home owners succeed as working a full time job. That includes working weekends and holidays.
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Jane Sadowy
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