Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius


First real estate brokerage offering rebates opens in New Jersey

Image of the Hoboken, New Jersey Docks by r0sss

First in Hoboken and New Jersey

[AGBeat exclusive] Although rebates are not the core tenant of their real estate brokerage model, CondoDomain has opened their doors in Hoboken and Jersey City and claim to be the first to officially offer rebates in these cities.

When New Jersey state laws changed last fall allowing for rebates, we wondered which rebate model would step up to bat first.

“We are pleased that federal and state governments continue to evolve legislation for the benefit of consumers,” said President & COO Hoyt Morgan. “Discounts, as well as open MLS databases and other changes that give people more information, more options and more control over their real estate process are good for the industry. They allow to continue to provide a better customer experience.”

New Jersey is now live

“I am excited to represent CondoDomain”, said Lori Turoff, CondoDomain’s agent in New Jersey, specializing in Hoboken condos and lofts. “We are the first to provide refunds to consumers in Hoboken and Jersey City and I look forward to this adding value to my client relationships.” Turoff is a long time Realtor who studied law at Boston University which is not surprising given the brokerage’s stance against the recruit/burn/turn agent model and their insistence on agents mastering a one mile by one mile area rather than knowing bits and pieces about an entire metro area.

CondoDomain plans to open more offices in more cities with rebates as a retention offering rather than a marketing tool as they explained when giving out their millionth dollar back to consumers.

Advertisement. Scroll to continue reading.

We wonder when Redfin and the like will be opening up shop in New Jersey given the new laws, especially given that in areas like Boston, rebate brokers are still being blackballed. What do you think of the updated real estate laws in New Jersey- is it about time or should they have kept it as it was?

The American Genius is news, insights, tools, and inspiration for business owners and professionals. AG condenses information on technology, business, social media, startups, economics and more, so you don’t have to.



  1. Joe Loomer

    May 12, 2011 at 5:24 am

    I smell some litigation down the line, although I'm sure the NJ Attorney General and other folks researched as much as anyone would before changing the laws, it just smacks of being in conflict with RESPA.

    Navy Chief, Navy Pride

    • Fred Romano

      May 12, 2011 at 9:57 am

      There is nothing wrong with giving rebates back to the buyer or seller. It's perfectly legal and conforms to RESPA requirements.

      • Lani Rosales

        May 12, 2011 at 10:38 am

        I think I'm with Fred on this one- Joe, what are you seeing that maybe we aren't? I'm in Texas where rebates are legal, common, and often seen as a proper polite gesture…

Leave a Reply

Your email address will not be published. Required fields are marked *


American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.



Real Estate Technology

(TECH NEWS) It turns out that Internet of Things, like smart bulbs in homes, are not secure and give up your info - here...

Real Estate Marketing

(MARKETING) Your fancy, self-animating website might be making people violently ill, even if it is insanely beautiful. Sorry...

Real Estate Marketing

(MARKETING) Conduit is a CRM that does more than CRM, it analyzes your networking data to help you see how to improve your relationships.

Real Estate Corporate

(REAL ESTATE) Zillow has long been a data powerhouse, but a lawsuit about a $150M listing offers a look into listings claims.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.