Buyer Rebate Program
According to The National Association of Realtors over 80% of home buyers start their search on the internet. Many of these home buyers will drive through prospective neighborhoods at their leisure to narrow down their search. This type of home buyer typically has a pretty good idea of what they want to purchase. We feel our buyers should be rewarded for their efforts. Buyers can receive up to 50% of our commission in the form of a buyer rebate. This rebate can be applied towards closing costs, buying down your rate, new furniture, a family vacation, or anything you want!
For EXAMPLE
Assume a 50% rebate and assume seller offering a 3% commission:
|
Price of Home: |
Cash Back to Home Buyer: |
|
$200,000 |
$3,000 |
|
$300,000 |
$4,500 |
|
$400,000 |
$6,000 |
|
$500,000 |
$7,500 |
|
$600,000 |
$9,000 |
|
$700,000 |
$10,500 |
|
$800,000 |
$12,000 |
|
$900,000 |
$13,500 |
|
$1,000,000 |
$15,000 |
To date, our highest cash-back rebate to one of our buyers was in the amount of $11,600! In 2009 our buyer rebates totaled over $47,000!
Operating this way eliminates time wasted by our agents showing homes to buyers that are undesirable from the curb or homes that are in an area that the buyer does not like. Because you are helping us work more efficiently, we can afford to offer you a portion of our commission in the form of a cash-back rebate.
The portion of our commission that we rebate to our Buyer Client varies depending on the number of homes physically visited by our agent.
|
# Homes Visited With SCR Agent: |
% of our Commission we will rebate to our buyer: |
|
1 to 3 |
50% |
|
4 |
45% |
|
5 |
40% |
|
6 |
35% |
|
7 |
30% |
|
8 |
25% |
|
9 |
20% |
|
10 |
15% |
|
11-15 |
10% |
|
16-20 |
$500 |
|
20+ |
$250 |
*Please note: This program is not intended to rush buyers into making a quick decision. It is not designed to punish buyers that view more homes. It is designed to reward the buyers that take the time to do research prior to setting up showing appointments.
Rebates can be impacted by lender guidelines. Please discuss the rebate with your mortgage professional to see if there are any restrictions.
Remember! - You should have a qualified Exclusive Buyer's Agent representing you!
Why should you use an Exclusive Buyer's Agent?
To understand the full benefit you must first recognize that working with a Buyer's Agent does not normally have any effect on the price that you will pay for the home. A Seller/Builder agrees to pay a commission to their Listing Agent to help market their house. This Listing Agent will quote the Seller/Builder a commission to be paid once the home sells. For purpose of example, let's assume the seller has agreed to pay the Listing Agent 6% when the home sells. The Listing Agent normally offers a "co-op" to other Real Estate Agents if they bring a Buyer. Typically the 2 agents involved (the Listing Agent and the Buyer's Agent) split the total commission. In this example each company would receive 3% of the sale price.
What's more?
If a buyer contacts the Listing Agent/Builder directly, the Listing Agent will certainly welcome the Buyer's interest in the property. However, the Listing Agent still represents the Seller's/Builder's interests, so the Buyer has NO representation in the purchase. Not only that, but in most cases the Listing Agent will keep the ENTIRE 6% commission since the Buyer was unrepresented; therefore there is no other agent to split the commission. Remember, the contract between the Listing Agent & the Seller said that the Seller would pay 6% when the home sells.
When buying your next home, whether you decide to work with Simple Choice Realty or not, ALWAYS have an Exclusive Buyer's Agent looking out for YOUR best interests.
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