Competition and Real Estate by State
||Allows choice of brokerage services
||Allows brokers to offer rebates to consumers
In January 2010, New Jersey repealed its previous ban on commission rebates. New Jersey now joins the majority of states that allows real estate brokers to provide rebates to consumers and to customize their real estate service offerings to meet their customers' needs.
Since the law took effect, many New Jersey brokers have begun offering substantial rebates to home buyers, saving them thousands of dollars. This has increased competition for brokerage services and benefitted New Jersey consumers.
Learn more about:
Brokerage services: Discount Brokers Can Make Selling a Home Less Costly
Rebates: Rebates Make Buying a Home Less Expensive
November 12, 2009
Letter to New Jersey Senate Re: Comments on Senate Bill 139
Related documents on the Internet:
New Jersey Assembly Bill A373 repealing the ban on rebates