Buyer Rebate Program

Buyer Rebate Program

 

Home Buyer Rebates! Get Paid To Buy Your Next Home!
 

 

 

 

Buying another home? Why not get paid to do it? 

 

Most home buyers are doing the work to find their next home. Why not get paid to do it?

As an incentive to work with us, we give 50% our "Buyers Agency Commission" back to you  at closing. Home Buyer Rebates help reduce the price of your new home or it can be used as a credit at closing toward reducing your down payment!

How Do I Get My Home Buyer Rebate?

1. Find your next home 
2. We write up the offer (like a regular buyer's agent)
3. At closing you get the rebate.

How are we different than other companies?

We are the direct broker / member of the local MLS, NOT a third party like many other sites. With us you work direct. We are the broker / member of the local MLS.

How Does the home buyer rebate work?

When a seller lists their home for sale with a Realtor, they usually agree to pay 6% (commission varies), commission at closing. Half or typically 3% goes to the listing agent & the other half or 3% goes to the buyers agent (us).  We simply split our commission with you as an incentive for you to work with us!

Are Home Buyer Rebates Legal?

Yes, in 40 states (as of 12.18)  Here is a map showing the states position on rebates




How to buy your next property & earn a rebate at closing!

 

The idea of getting a rebate at closing is not new. This is the natural progression of the industry due to the internet and your ability to find homes without a Realtor. The concept is that buying and selling real estate is simply a transaction. While the real estate transaction can be complex and full of emotions, it is none the less a transaction.

Isn’t going direct to the listing agent the best option? NO! This is actually the worst thing you can do! The listing agent has a fiduciary to the seller and fully represents the seller! A listing agent can never really have your best intentions in mind. Going direct to the listing agent is a sure way to overpay for a property! The listing agent will end up making the full 6% commission.  So DO NOT contact the listing agent yourself!


If you as a buyer are willing to do the majority of the work you should be compensated for it. The less time we spend showing homes the more money we can give you back.

Understanding the process of the Home Buyer Rebate Program

Before you begin your home search, it's critical buyers understand the buying process.  This entire process is geared toward buying from a home listed for sale in the MLS (Multiple Listing Service), not for sale by owner listings.

 

             
  • Procuring Cause: Learn  it and understand it. Procuring cause means, "How did the buyer find the home? Who caused the buyer to buy or  How was the listing agent contacted? If it can be proven that the LISTING AGENT found the buyer, then that listing agent deserves the commission.
 
 

 

EARNING YOUR REBATE IS THIS SIMPLE

Steps to earn your rebate

 

1. Make sure you are pre-approved with a lender: Realtors don’t like to waste time showing homes to people that cannot get a mortgage so it is essential you get preapproved AND have the preapproval certificate with you when you view homes.
2. To get started complete the Buyer Rebate Program Questionnaire.      Once you complete the questionnaire I will email you the Consumer Guide To Agency form and the Mink Realty's Exlusive Right to Represent Buyer Agreement Click here to view agreement.
3. Do your homework via the internet and narrow down your search to the homes you are really interested in (no more than 5 homes).
4. Let me know the home or homes that you want to see and I will set up the showing for the listing agent to show you the home. I will also email you the MLS listing and seller’s disclosure form.
5. Let me know which property you want to write an offer on and I will write up the offer and send it to you to sign electronically and submit it to the listing agent.

 

Mink Realty does not show homes to buyers.  There are 2 ways buyers can view the home.  Do NOT call the listing agent yourself!!!

 1.  An Open House is a great way for you to see the home. NOTE: IT is illegal for a listing agent to give you a lockbox code to get into a vacant home. If they allow this it is wrong!
2.  I will call the listing agent and ask if they would show the home to you in my abscence.  Most of the time they are agreeable if their schedule allows, because they want to sell the house.  In some cases if the listing agent does not agree to show the home I may have to offer them a “Showing Incentive Fee” of 5% of the buyer’s side commission if they show the house for me.  I only do this if I have to.

Here’s the math: If the sales price $300,000 and the commission is 6% or $18,000, Our half on the buy side is 3% or $9,000. WE OFFER OUR SHOWING INCENTIVE FEE OF 5% OR $450 TO THE LISTING AGENT IF THEY SHOW YOU THE HOME. So, at closing, $9,000 - $450 = $8,550. Then you and I split that in half (agent gets $4,275) and (buyer get $4,275)! This works very well.

 

Don’t let the rebate fool you. You are fully represented. I bring over 15 years of experience and hundreds of closing to the table. As your buyer’s agent, I am committed to getting you the lowest price and best terms on your next home!