New Jersey bill seeks to lift rebate ban

Measure passes state's General Assembly

New Jersey’s General Assembly on Monday voted 46-25 to pass a measure that allows real estate brokers in the state to give rebates to homebuyers — the measure has not yet been passed by the state Senate.

The New Jersey Association of Realtors, a statewide real estate trade group, had earlier expressed opposition to the rebates, which were proposed in legislation introduced last year (see Inman News article).