What is a "Buyer Rebate"?:
It occurs when the buyer's agent gives the buyer a portion of the commission the agent earned from the sale of the property after closing.
Why would a buyer's agent "Rebate" part of their commission to a buyer?:
It's an incentive for a buyer to do business with that buyer's agent. The result is more business for the buyer's agent and you, the buyer, receive cash back to help offset the expenses of moving or to pay for a well earned vacation. The perfect combination!
Are Home Buyer Rebates legal?:
Yes. In Nebraska and 39 other states, see: Article from The Department of Justice.
How do I verify I'm going to get my rebate?: Just enroll in our Cash Bonus program by clicking here. We recommend that your very first contact be with us as your buyer's agent. You shouldn't contact the listing agent on a home you are interested in until you are enrolled in our Cash Bonus progam.
Why shouldn't I talk to the listing agent initially?: If you see a home and then contact the listing agent for information that listing agent will see you as their prospective buyer. It could also put you at a disadvantage negotiating a deal on the house. The listing agent works for the seller. His/her job is to get as much money and the best terms for the seller as possible. In your conversation with the agent, the agent may have picked up critical information regarding your motivation and resources that can be used to the seller's advantage. So, it is critical that you watch what you tell a listing agent and contact us as your agent first. Once we have an agent / client relationship you are protected from listing agents seeing you as "their buyer".
What if I am working with another buyer's agent?: You can always email / call that buyer's agent back and tell them you've gone in another direction. Remember, you can use who you wish to buy a home. The only time you are obligated to work with a particular agent is if you have signed a buyers agency contract. We recommend that you only sign a buyers agency contract if you get a concession in return for committing to work with just one agent, like receiving a commission rebate.
How does the process work?: You're searching for a home and find some homes you're interested in. You would complete and submit the Cash Bonus program enrollment form, contact us as your buyer's agent and email the list of homes you're interested in. We would then contact the listing agent and help schedule the showings. When you wish to make the offer we would draw up the offer, get it to you for your review and signatures, then we'll get it to the listing agent and begin the negotiating process. When we come to terms, then we are there to help you from start to finish just like a regular Realtor. You lose nothing using us compared to any other buyer's agent. We are here to provide full Realtor services to you through closing!
An important point to remember: