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NJ Avg Real Estate Commission Rate in Trenton, New Jersey

Trenton is the capital city of the U.S. state of New Jersey and the county seat of Mercer County. It was briefly the capital of the United States. The city's metropolitan area is grouped with the New York metropolitan area by the United States Census Bureau, but directly borders the Philadelphia metropolitan area and is part of the Federal Communications Commission's Philadelphia Designated Market Area. As of the 2010 United States Census, Trenton had a population of 84,913, making it the state's 10th-largest municipality. The Census Bureau estimated that the city's population was 84,034 in 2014.

Trenton dates back at least to June 3, 1719, when mention was made of a constable being appointed for Trenton, while the area was still part of Hunterdon County. Boundaries were recorded for Trenton Township as of March 2, 1720, a courthouse and jail were constructed in Trenton around 1720 and the Freeholders of Hunterdon County met annually in Trenton. Trenton became New Jersey's capital as of November 25, 1790, and the City of Trenton was formed within Trenton Township on November 13, 1792. Trenton Township was incorporated as one of New Jersey's initial group of 104 townships by an act of the New Jersey Legislature on February 21, 1798. On February 22, 1834, portions of Trenton Township were taken to form Ewing Township. The remaining portion of Trenton Township was absorbed by the City of Trenton on April 10, 1837. A series of annexations took place over a 50-year period, with the city absorbing South Trenton borough (April 14, 1851), portions of Nottingham Township (April 14, 1856), both the Borough of Chambersburg Township and Millham Township (both on March 30, 1888), as well as Wilbur Borough (February 28, 1898). Portions of Ewing Township and Hamilton Township were annexed to Trenton on March 23, 1900.

 

Trenton, New Jersey Average Real Estate Agent Commission Rate Fees:

A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Trenton, New Jersey. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!

The national average total real estate commission in 2015 was 5.26% *

In Trenton, New Jersey, you will find the following real estate commissions charged*:

Typical Asking Commission: 6.0%

Competitive Commission: 5.0%-5.5%%

Very Competitive Commission: 4.5%-4.99%

The median existing single-family home price in the Northeast rose 3.2%, to $282,300, in the second quarter of 2017 compared to the the second quarter of 2016.  Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:

In the State of New Jersey, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Allentown-Bethlehem-Easton, PA-NJ $190,400 2.50%
Atlantic City-Hammonton $190,900 2.40%
New York-Jersey City-White Plains, NY-NJ $384,500 4.90%
New York-Newark-Jersey City, NY-NJ-PA $414,000 4.70%
Newark $400,600 2.90%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD $239,100 3.00%
Trenton $262,900 -4.40%
 
IMPORTANT

Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home.  In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).

In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent.  Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”.  This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client.  This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).

When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.

 

AGENTS ARE READY TO BID THEIR COMMISSION RATE TO GET YOUR LISTING

At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business.  These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm.  This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in New Jersey.

 

ARE YOU BUYING IN THE SAME AREA, TOO?

Sellers who are also buying a home in the same local market have a volume discount advantage.  ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home.  Be sure to check the box that you are also buying a home locally to receive these better rates.

 

ARE YOU READY TO RECEIVE COMPETITIVE COMMISSION RATE BIDS?

Click here to see your savings in just 24 hours…

 

DEMOGRAPHICS:

As of the 2010 United States Census, there were 84,913 people, 28,578 households, and 17,747 families residing in the city. The population density was 11,101.9 per square mile (4,286.5/km2). There were 33,035 housing units at an average density of 4,319.2 per square mile (1,667.7/km2). The racial makeup of the city was 26.56% (22,549) White, 52.01% (44,160) Black or African American, 0.70% (598) Native American, 1.19% (1,013) Asian, 0.13% (110) Pacific Islander, 15.31% (13,003) from other races, and 4.10% (3,480) from two or more races. Hispanic or Latino of any race were 33.71% (28,621) of the population.

There were 28,578 households out of which 32.0% had children under the age of 18 living with them, 25.1% were married couples living together, 28.1% had a female householder with no husband present, and 37.9% were non-families. 30.8% of all households were made up of individuals, and 9.1% had someone living alone who was 65 years of age or older. The average household size was 2.79 and the average family size was 3.40.

In the city, the population was spread out with 25.1% under the age of 18, 11.0% from 18 to 24, 32.5% from 25 to 44, 22.6% from 45 to 64, and 8.8% who were 65 years of age or older. The median age was 32.6 years. For every 100 females there were 106.5 males. For every 100 females ages 18 and older there were 107.2 males.

The Census Bureau's 2006–2010 American Community Survey showed that (in 2010 inflation-adjusted dollars) median household income was $36,601 (with a margin of error of +/- $1,485) and the median family income was $41,491 (+/- $2,778). Males had a median income of $29,884 (+/- $1,715) versus $31,319 (+/- $2,398) for females. The per capita income for the city was $17,400 (+/- $571). About 22.4% of families and 24.5% of the population were below the poverty line, including 36.3% of those under age 18 and 17.5% of those age 65 or over.

 

ECONOMY:

Trenton was a major manufacturing center in the late 19th and early 20th centuries. One relic of that era is the slogan "Trenton Makes, The World Takes", which is displayed on the Lower Free Bridge (just north of the Trenton–Morrisville Toll Bridge). The city adopted the slogan in 1917 to represent Trenton's then-leading role as a major manufacturing center for rubber, wire rope, ceramics and cigars.

Along with many other United States cities in the 1970s, Trenton fell on hard times when manufacturing and industrial jobs declined. Concurrently, state government agencies began leasing office space in the surrounding suburbs. State government leaders (particularly governors William Cahill and Brendan Byrne) attempted to revitalize the downtown area by making it the center of state government. Between 1982 and 1992, more than a dozen office buildings were constructed primarily by the state to house state offices. Today, Trenton's biggest employer is still the state of New Jersey. Each weekday, 20,000 state workers flood into the city from the surrounding suburbs.

Notable businesses of the thousands based in Trenton include Italian People's Bakery, a wholesale and retail bakery established in 1936.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Trenton - New Jersey