As the condition of the economy becomes more and more uncertain, it is critical that home buyers look to save as much money as they can in every aspect of their spending. One of the most significant investments consumers will ever make is the purchase of a home. With this is mind, home buyers must become educated about the home buying process. The internet has an abundance of information for home buyers and it is a good place to get started. With the surplus of information readily available to consumers, many buyers are able to successfully purchase a home on their own and that is great. But what most homebuyers don't realize is that they can have a Realtor represent them as their personal buyer's agent for free.
Realtors are paid a percentage of the commission at closing form the total proceeds of the sale. Realtors can provide valuable insight, information and assistance when it comes to such a significant investment. In addition to providing real estate expertise, some Realtors will also provide a commission rebate that home buyers can use to pay their closing costs. The rebate can actually be used any way a home buyer desires but the majority of home buyers use it towards their closing costs. Closing costs can be very expensive and in most cases are paid by the buyer and/or seller, but in recent years more and more Realtors are helping home buyers by contributing to these fees.
Realtors typically reserve rebates for friends and family members. Most Realtors don't advertise commission rebates and many will act as if they don't know what you are talking about if you bring it up. Up until 2006, consumers had to have an "In" to find the Realtors that would provide a rebate but with the emergence of SharpBuyers.com home buyers can now easily find rebate Realtors. When home buyers sign up at SharpBuyers.com, they receive a home buyer's guide, links to important resources & information, and they are connected to a local Realtor that will provide up to a 50 percent commission rebate. Real estate rebates are legal in 39 out of the 50 states and are supported by The Department of Justice. Click Here to read the DOJ's stance on real estate rebates.
Robert Nichols, Sharp Buyers
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Hey Robert,
An interesting concept. A little of something is better than nothing. Hopefully commissions will not diminish to such a small level as to drive great Realtors out of the business.