Live: Day 4 of Public Impeachment Hearings

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    Realtors could kick in commission under N.J. bill

    The bill would allow real estate brokers to give part of their commission to a buyer or seller of a residential property. Senator Nicolas Scutari is the primary sponsor of the legislation.

    The New Jersey State Senate’s Commerce Committee has approved legislation to help stimulate the housing market.

    Listen:
    [audio: 091215pgrebate.mp3]

    The bill would allow real estate brokers to give part of their commission to a buyer or seller of a residential property. Senator Nicolas Scutari is the primary sponsor of the legislation.

    Scutari: It’s an added incentive to help brokers bring people together but it’s also going to help consumers to get some money back on these, can be exorbitantly large commissions for real estate.

    The New Jersey Realtors Association says it did not take a position on the legislation.

    There’s no indication just how many real estate agents would offer those rebates.

    The measure has been approved by the state Assembly and now goes to the full Senate for final legislative consideration.

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