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No. 17 Vol. 8
My Life Publications • 1-800-691-7549
NEIGHBORHOOD PROPERTIES 381 Main Rd, Montville 973-334-3341
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A RE/MAX AGENT CLOSES A DEAL EVERY :30 SECONDS By Audrey Ference
Who Pays the Realtor Commission
For both buyers and sellers, the help of a knowledgeable broker is valuable, but who pays for the services of the real estate agent? If you’re about to start your home-buying journey, you’re likely thinking about hiring a real estate agent. But how does a realtor get paid when you buy a house? Well, buyers and sellers are responsible for paying for different fees, so it’s important to know best practices for a typical home sale.. Here’s what you need to know about who pays the realtor fees and how much cash you can expect to contribute. Who pays commission to the realtor? Standard practice is that the seller pays the real estate commission of both the listing agent and the buyer’s agent, while sellers pay the fees, they usually wrap them into the price of the home.” In that sense, you could say the buyer pays the fees. How much are realtor fees? A common commission for real estate agents is 5-6% of the purchase price of the property, but varies depending on your area. The fee is paid at closing by the seller. All of the details about a real estate agent’s fee should be in the agreement you sign when you hire an agent—don’t be afraid to ask questions if there’s anything you don’t understand. Generally, things like photography, the cost of listing the property, and the cost of any printed materials or signs are included in the fee, along with the real estate agent’s services, of course. If you have to do major staging or repair work, those costs will come out of your pocket. Can you negotiate who pays the real estate agent? A seller can negotiate the terms of the listing agreement—which contains the real estate agent fees—with the brokerage or agent. If a buyer is in a tough seller’s market or bidding war, offering to pay some or all of the real estate agent’s fees can be a way to stand out from other offers. Who pays the rental agent’s commission? Rental agents work differently from purchase agents. It’s up to the landlord and the tenant to decide who pays the rental agent’s fee. Broker fees for finding you a rental generally fall between one month’s rent and 10% of the annual rent of the property. In some situations, the landlord pays the broker to help him find a desirable tenant. But in other areas, like big cities with large rental populations, typical in our area, the renter will be required to pay the broker fee, even if the landlord hired the broker. Customs vary widely by location, so always make sure you clarify who is going to pay for what, and how much it’s going to cost. source: Realtor.com - edited for space.
October 2021
800-939-JUNK
Holy Spirit Parish Welcomes a New Pastor
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By Henry M. Holden orn and raised in Clifton, Father (Fr.) Stephen Prisk grew up in the Sacred Heart Parish, where he attended elementary school. He later went on to graduate from Seton Hall Preparatory High School. While attending Franciscan University, in Steubenville, Ohio, he began his vocation journey. “I started college with the idea of becoming a doctor or at least something in the medical field,” said Fr. Stephen. “Initially I thought my calling was to serve in that way, but I discerned otherwise during my time in college.” Fr. Stephen graduated college in 2010, with a Bachelor of Science degree in Biology but by then he was discerning in a different direction. “I started asking God what he wanted me to do, not what I wanted to do. It was then that I felt a call to a vocation.” The calling he received was really a desire to serve but in the specific way of being a priest. “I received a calling through prayer and praying before the Blessed Sacrament. The calling involves bringing our Lord to the people specifically through the Sacraments and the Eucharist.” Having begun his discernment to the priesthood Fr. Stephen attended
Immaculate Conception Seminary at Seton Hall University. A year later, he transferred to the North American College in Rome for his studies in theology. According to Fr. Stephen, this clarity to be a priest came about through prayer and formation in the seminary. “In the seminary you work with the staff to see if God is calling you to be a priest or not.” In Rome he earned a Baccalaureate in Sacred Theology from the Pontifical Gregorian University, and a Licentiate in Sacred Theology from the Pontifical Institute of St. John Paul II for Studies on Marriage and the Family. “I experience pastoral work which is in a way a sort of internship,” said Fr. Stephen. “It seemed to come together and helped me to realize this is what God was calling me to do.” “I would say a part of it was just praying for peace and joy throughout the process and seeing some clear signs that I was following the direction God wanted me to be in. I knew I was on the right path because I kept feeling joy and peace during my discernment.” Fr. Stephen was ordained a transitional deacon on October 2, 2014, in St. Peter’s Basilica, Rome. His ordination to the priesthood came on May 23, 2015, at St. Philip Church, in
Clifton. His first assignment was as parochial vicar at St. Joseph Church, in Mendham. As parochial vicar of St. Joseph, he gave several talks on vocations and discernment. He described a vocation as a “call from God that requires our response. We are called to holiness, to become saints, and to live out that call in a particular vocation.” In 2019 he was appointed Vice Chancellor and Priest Secretary to the Bishop. Some of the Vice Chancellor’s work involves counseling a Catholic marry continued on page 6
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