Broker Buyer Rebates up to 40%
STATE LAW PROHIBITS REBATES UNLESS AGREEMENT SIGNED AT BEGINNING OF BROKERAGE RELATIONSHIP
Our office offers a REBATE to a portion of our collected real estate commission to certain buyers. You can save thousands of dollars to your home purchase with this incentive. This is only for seasoned buyers that can handle majority of real estate transactions on their own
(this means reduced service from our brokerage).
Here is an example of how much you can make from purchasing with us using this program:
Max rebate of 40%
(for do-it-yourself buyers.* See below for more details)
The amount of the rebate is determined based on the Commission Collected.
If you purchase a house for $500,000, you may receive $6,000
discount to your closing (FREE CASH!
). That is $6,000 in your pocket in addition to the benefit of acquiring a property of yourself! Good work!
Most brokers do not offer this incentive because this cuts into their bottom line. We will offer this amazing deal for you if you are willing to do some legwork on your own. We will still be here to provide you advice and give you guidance.
This is a limited service program and is defined in the Buyer Rebate Agreement. The buyer will be performing some functions typically handled by real estate agents as well as their own due diligence.
Here's some details:
- You must disclose this intent and initiate a contract with us from the start. (how - link?###?)
- You are willing to:
- Locate a property of interest using various tools available (we also offer some tools and advice to help you locate your dream home)
- If you need additional information from the selling/listing agent, you would contact them yourself to get questions answered, including verbal price negotiations
- When asked, you will say you have contracted with and are working with a broker for your purchase
- Once ready, you will contact us and submit your formal offer through us
- If condo or cooperative property, handle building management documentations as required
We will still be here to help you with most general questions!
If this maximum discount plan is not for you, Connect with our Dream Home Advisors to walk you through the real estate purchase process.
Buyer understands and agrees that in consideration of the above rebate, the Broker will be providing reduced services. The reduced services may include: preparing any offers, contracts of sale, obtaining & transmitting mortgage documents, presenting offers and counter-offers, providing guidance through the transaction via telephone, e-mail, fax etc., obtaining info through the MLS system, handling condo/coop documentation, communicating with sellers Real estate agent, etc. If such services are requested after initially signing this form, the buyers rebate may be reduced or eliminated.
IMPORTANT: Real Estate Commission rules REQUIRE there be a written agreement with the buyer at the onset
of the relationship. Otherwise no rebate may be issued. So you must sign up for this initially or it may be void. The rebate will be paid as a “credit” to the buyer at closing or a check from the closing agent, thereby reducing our portion of the Broker commission.
The Buyer must have purchased the home through our office. The Buyer will be obligated to pay any applicable taxes for the receipt of the rebate and should contact a tax professional concerning the tax implications of receiving the rebate. All parties to the transaction, including the mortgage lender, will be notified of the rebate. The rebate is not contingent on the Buyer using any services or products.
The Rebate amount is based only on commissions actually collected by us. The calculation is based on the “Buyers side” portion of the commission. This offer may be withdrawn or modified at anytime.
This page does not create an agreement between the parties, that can only be accomplished through a written signed agreement.
This is for NY/NJ Buyer Rebates on Real Estate Commissions. The "ACT" permitting this practice was signed into law for NJ on January 2010 and NY on December 2014. In both NY and NJ, all commissions are negotiable and may be different for every deal.