In NJ, your Realtor commission is negotiable. You and the Realtor agree on a percentage usually based on sales price of your home.
However, I’ve heard of some instances where the Realtor is asked to take a reduction in commission at closing. The home may have had last-minute issues; the buyer brought less money to the table, the house was filthy, the stove (or water heater, furnace, etc) did not work at the walk through, last-minute mortgage issues, etc. At this point someone says to the Realtor, I had to eat this (or I won’t eat this) so you have to.
I’m told this is legal.
I’m telling you its unethical.
You work hard for your money, so does the Realtor. You expect to be paid a certain sum for your labor, so do they. Your misfortune or misjudgment is not their fault. It is wrong to dig into anyones pockets when they did not create the problem.
A friend this summer sold a house. At closing it was discovered the sellers had not moved all their things and a hauling/cleaning company would have to be hired to clear out the old junk. Everyone at the table turned to her and told her unless she paid for it, the deal was off. How is this her problem? Why not the seller who left it a mess? or the Buyer who had bought below market and was expecting to do massive repairs already.
Other Realtors have told me this in not uncommon, they are frequently asked to pay for this or that. They are frequently not reimbursed for out-of-pocket items like smoke alarms if they picked them up for a seller, carpet cleaning or contractors that the realtor met when the buyers were not available.
It is unethical. Don’t do it.
Faith can move mountains, for everything else there is BD Movers(r)