Perhaps you are not familiar with real estate rebates and how much you stand to save if you are in the market for buying a house. Now is the time to get informed because you could be pocketing thousands of dollars that otherwise would have simply gone to the realtor. Here are a few of the reasons why real estate rebates are good for consumers.
What is the Real Estate Rebate?
The real estate rebate is a commission or cash bonus given to the buyer for using a particular real estate broker. The real estate agent gets a commission for selling a house, and they pass on a fraction of that commission as incentive to a buyer to work with that agency. The money you could be pocketing on a $300,000 home sale could be $3,000 or more. That money is given at closing to the home buyer to use any way they like.
Why is the Rebate a Good Idea?
The real estate rebate allows buyers to have some cash on hand at closing to take care of many pressing issues that come with buying a home. The money can be used to pay the moving company, to buy new furniture, to have the house painted, to buy new carpeting, or to have landscaping done around the property. This money helps to alleviate some of the financial pressure that comes with buying a new house.
Is The Rebate Good for the Industry?
These rebates are great for the industry because it gets buyers more motivated about buying a house, it gets agents more clients, and it helps to move along inventory at a faster rate. Many real estate agents forgo the cash rebates and offer their clients the rebate is service form instead. This means that if the buyer uses a certain agency, if they buy the house the agent will pay for the moving company, give them a gift certificate for a local hardware store, or hand them a prepaid credit card worth thousands.
The bottom line is that real estate rebates are good for consumers. They are working with a agency that wants to move along the sale as quickly as possible while rewarding the consumer at closing with money they did not have to start. This money can be a real lifesaver for many who leave the closing with nothing more than the clothes on their backs. That cushion of cash at closing will go a long way in making the homeowners first days in the house more enjoyable.