Frequently Asked Questions
Rebates are given from the real estate broker to his or her client at closing and will be in the form of a credit to the buyers on the closing statement.
Anyone purchasing a new home is eligible for the New Home Rebate, as long as they choose a home builder who pays a real estate commission.
Buyers will also need to make sure that they complete the New Home Rebate Agreement Form.
Any home sold by a builder including homes built from the ground up, quick move-in homes, and builder’s model homes.
There’s no catch! My rebate program rewards buyers for doing exactly what they are already doing…starting their home search on the Internet. I offer rebates to home buyers who come to me with a short list of new homes they are interested in.
Most realtors do not offer this, instead preferring to keep their entire commission regardless of how much time they have to invest in a client. I see this rebate as a way of giving back to those buyers who assist me in shouldering the time-consuming task of locating the right home for them.
My program is geared toward the “do-it-yourself” segment of the market who takes on a very active role in the initial search. The buyers just want an agent to assist with the negotiation and/or unlock the 3% builder commission so they can get a 1.5% rebate which will be in the form of a credit to the buyers on the closing statement.
Builders usually offer a 3% realtor commission that is built into the price of the home. This is a marketing expense the builder simply pockets if you choose to purchase without representation. Since the builder pays my fee to represent you as a buyer, NONE of my services will cost you a penny. However, if your offer is not accepted or if I was unsuccessful in assisting you in your new home purchase, you owe me nothing.
You should first register on my website and let me know of any communities you’d like to visit before you visit them. Some communities and builders require for me to accompany you in person on your first visit or they may not let me represent you. If you choose to visit any new home communities without me, you will risk not qualifying for my rebate program.
Unfortunately, if you are already under contract with another real estate agent, you are not eligible for my program. This service is not meant to solicit buyers already working with a buyer agent. However, once your current contract is terminated or expires, I would be happy to assist you.
Yes, rebates to home buyers are 100% legal in every state EXCEPT Alabama, Alaska, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Oregon, and Tennessee. The harsh reality is that rebates are not very popular among the general population of real estate agents. Most agents make their living by keeping all of their commission, which is typically 3% of the sales price on a home. If an agent tells you rebating is not legal, they are ignorant of the law, or simply they make more money by convincing you otherwise.
Please click on the link to the US Department of Justice for further information: https://www.justice.gov/atr/competition-real-estate-questions-and-answers
Rebates are basically gifts that the buyer can use to reduce their out-of-pocket expenses; however, the buyer’s gain is often seen as a loss to the agent. Most agents earn their sole living based on the commission received from the real estate transaction. Often times, the agent has to split their commission check with their real estate broker. So, the misconception among many agents is that providing a rebate is synonymous to leaving money on the table, which ultimately results in less income for them. I don’t adhere to this belief.
I see a great opportunity in helping buyers that are actually capable of doing a great deal of the initial research and legwork. My business model is based on volume transactions, and I don’t need to make 3% on each deal to be successful.
NO! Your home will not cost you anymore whether you use me to represent you or you represent yourself. Builders typically pay a 3% commission to agents who bring them a buyer. But many buyers find it easy to shop for newly constructed homes on their own and don’t bother to enlist with an agent. The irony is that most builders own company policy, requires the price of the home to be the same whether the buyer uses the service of an agent or not. Compensation provided to the agent is recognized by the builder as a marketing cost and has no impact on the final price of the home. There is no discount or price reduction if you purchase your new home without an agent.
Yes, you need to get pre-approved before I can begin showing you homes unless you plan to pay all cash. If you don’t have a lender, I can help you with the process of getting pre-approved. Some major builders will give you additional incentives if you use their lender of choice, such as help with closing costs.
Yes, as a fully licensed realtor, I can also assist you with the sale of your current home.