Allows choice of brokerage services | |
Allows brokers to offer rebates to consumer |
New Jersey Flat fee MLS is a term used to describe a practice in New Jersey in which realtors place pertinent information about a New Jersey property for sale into the database of a New Jersey local Multiple Listing Service (MLS) for a set fee or dollar amount as opposed to a commission based on the contract selling price of the property.
Here’s how New Jersey FSBO MLS works: We get you listed on a New Jersey (NJ) MLS & Realtor.com for a flat fee and Buyers will contact you directly!
- Within 24 business hours of your order completion, our Flat Fee New Jersey (NJ) affiliate broker Realtor will contact you via email or phone to begin the process of listing your home on the MLS.
- Thousands of New Jersey Realtors will have access to your local Flat Fee MLS listing as soon as the local broker affiliate Realtor enters the listing info into the Multiple Listing Service (MLS) database.
- View your New Jersey Flat Rate MLS Listing live within 24 to 48 hours of submission of all necessary paperwork. Your New Jersey (NJ) MLS listing can be viewed on: Realtor.com*
New Jersey law explicitly allows real estate brokers to offer rebates to consumers. New Jersey consumers are able to benefit from rebates that consumers in other states may receive.
In January 2008, Bill S139 was introduced in the New Jersey Senate. Bill S139, if enacted, would allow brokers to offer rebates in New Jersey. An identical bill, A373, passed in the New Jersey Assembly in March 2009.
As introduced, Bill A373 would permit all real estate licensees to offer rebates to both buyers and sellers. On January 07, 2010, Bill A373 was signed into law by Gov. Jon Corzine. It specifically stipulates, however, that only brokers can offer rebates to buyers.
Related Documents on the Internet:
- New Jersey Senate Bill S139 repealing the ban on rebates
- New Jersey Statute § 45:15-17(k) prohibiting the payment of rebates
- New Jersey Assembly Bill A373 repealing the ban on rebates
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