Step 3 - How To Get Into The Home You Wish To See
This is perhaps the most difficult part of earning your Home Buyer Rebate and where you earn your home buyer rebate!
|VIRTUAL SHOWINGS: With the Corona virus, virtual showings is an ideal solution! Simply do a "Group Virtual Showing" with you, the buyer, me as buyer's agent, listing agent and the seller!
Make sure you have either Facetime or Google Duo on your cell phone then we set it up.
Open houses are another way to get in. However, most buyers want to get in asap when they find a home.
Remember: The listing agent works for the buyer. They are typically NOT there to show homes to buyers unless it is their buyer. The buyers agent (us) works for you, the buyer. Typically, the buyers agent contacts the listing agent to set up a showing.
If you can imagine, if you contact a listing agent and ask them to get you into a home their typical response is, "Have your agent schedule this".
This is where the frustration begins to set in... Having listing agents not be that helpful. We can't blame them as again they work for the seller and they expect us, the buyers agent to "Earn our half" of the commission.
What do we do? How do we get in? Simple! We have to somehow motivate the listing agent!
|Commission usually 6% 3% / 3%||$24,000 / $12,000 to list side and $12,000 to buyers agent|
||$12,000 Your rebate is based off of our commission and is typically 50% or $6,000|
|Your typical rebate of 50%||$6,000|
|With the "Showing Incentive Fee"||5% of our total commission $12,000 x 5% = $600 (or it could be what you can negotiate with the listing agent )|
|NEW MATH - Sales Price||$400,000|
||$12,000 + $600= $12,600 (adding our showing incentive fee)|
||$12,000 - $600 = $11,400 (less the $600 showing incentive fee)|
|Your rebate||$11,400 / 2 = $5,700 (This is only $300 less so not a huge difference but it works!|