Real Estate Broker/Owner	RAINER 2,866
	Daniel Odio
	location_on Arlington, VA — RebateReps.com
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Home Buyers - Do Not Make A $5,250 Mistake Learn About Rebates and Put Our Commission Into Your Pocket
 RebateReps is the only Nationwide Network of top real estate agents from major brokerages who are willing to give real estate rebates. If you are buying just about any new construction or resale home, we will save you money by connecting you to a local agent who will put their commission into your pocket. We serve almost every city, nationwide. Click here to see some example rebate amounts.Submit an inquiry at right and we will connect you with a local RebateReps agent who will explain the program to you, or call us at 1.800.482.2049 to speak to one of our specialists. IMPORTANT info. for new construction homes! Don't enter a homebuilder's office without a RebateReps agent or you may forfeit your eligibility for a new home rebate. Don't make a $5,250 mistake!
We like to say that we "remove the taxi driver" from the home buying process. Here's why: A traditional real estate agent might spend several months driving you around every weekend to look at new homes. That takes a lot of time, which is why the agent has to make a large commission on each transaction (which, by the way, the seller pays). But we figure that you'd prefer to start your home search on the Internet instead, right? So, imagine if your real estate agent could leave the taxi driving up to you and just focus on negotiating you a great deal on your home. That's how RebateReps works. And to thank you for not having to be a taxi driver, the real estate agent shares his commission with you! A local, top-notch agent will help you identify areas & homes you might like, and give you the resources to narrow your search down on your own. Once you're ready to get serious about buying a home, the RebateReps agent will provide you with a full service experience, but since he doesn't have to be a taxi driver, he can afford to share his commission with you! Sounds like a great deal, right? It is! We both win - the agent can focus on what he does best, negotiating a great deal for you and guiding you through the escrow & closing process, and you get the freedom to start your home search on your own terms & timeframe. Why didn't anyone think of this sooner?! (Actually we have an answer for that too - it wasn't possible before the Internet!)

Click here to see some real HUD-1 documents showing the rebates we've given!

 

So why not let our network of agents share their commission and put it in your pocket! Call or contact us at right for a cash rebate at closing.

Did you know you pay the same price whether you get a real estate rebate or not?

The cost for your new home is the same with or without a real estate agent representing you. So how can RebateReps save you $5,000 to $10,000 or more in your home purchase?

Learn how real estate agents earn their commission

When buying a resale home, the seller's agent is known as the "listing agent". The listing agent charges the seller a fixed fee, (often 6% - so we'll use 6% as an example here). The seller pays this 6% fee whether or not you, the buyer, have an agent representing you. This means that when you do NOT have an agent, the listing agent keeps the entire 6% commission. The seller has no motivation to offer you a better price if you buy his house without a real estate agent, because he has to pay the same 6% commission to his listing agent either way! RebateReps lets you take advantage of this "loophole". When you use a RebateReps agent to represent you, the RebateReps agent gets paid part of the listing agent's commission, and then rebates part of it to you!

When buying a new construction home, the builder sets the price. If you buy a new construction home and have a RebateReps agent present, the builder must pay your agent a commission - even though you pay the same price for the home! The law stipulates that a builder can only pay a commission to a licensed real estate agent. Without an agent present, you pay the same price as you would have if you had arrived with a RebateReps agent. However, without an agent, you forfeit your opportunity to get a rebate.

Our secret strategy that other real estate agents don't want you to know.Here's how our program works (and how we can afford to do it!).

Most real estate agents will keep the entire commission the seller pays them. But RebateReps agents share their commission with you with the "two zeros" program. Just take the last two zeros off the price of the house, and that's your rebate!

For example:

If you buy a $238,000 home, you get $2,380 as a rebate If you buy a $527,473 home, you get $5,274.73 as a rebate If you buy a $2,319,264 home, you get $23,192.64 as a rebateClick Here for some real examples of rebates we've given recently. The rebate is paid to you at closing, meaning you bring less of your own money to the closing table. In fact, some buyers even walk away with a check at closing because their rebate was so large (and greater than their closing costs). Imagine buying a house and receiving a check at closing!

For example, if you buy a $525,000 home, you'll get a $5,250 rebate.  If you have $10,000 in closing costs, instead of having to bring $10,000 to closing, you only bring $4,750 (which is $10,000 - $5,250).  But if you only had $3,000 in closing costs, and you were getting a $5,250 rebate, you would actually get a check for $2,250 at closing!

There is never any charge nor any fees to you, the buyer. It is the seller (or builder) paying the real estate agent's commission, part of which is credited back to you at closing. Why do RebateReps agents offer a cash rebate to home buyers? The agents in our network are all top-tier, accomplished real estate agents with one thing in common: They are all ready to help you find your next home. And to get you as a client, they're willing to share their commission with you! You pay the same price when you buy a house with or without a real estate agent. Why not have a RebateReps.com real estate agent represent your interests and give you a cash rebate at closing? Submit an inquiry at right to have us connect you to a local RebateReps agent. I thought rebates were illegal? (And other common questions) This question and many others are answered in our Frequently Asked Questions (FAQ) section. Click here to read all the FAQ's!

 

 

Recent Posts

Member Agents:

We have over 525 agents in the RebateReps program nationwide.

All our participating agents have undergone a screening process by RebateReps and have agreed to give you a rebate using our "Two Zeros" calculation.  We ensure that you are interacting with a top agent from a reputable firm - just like you would be even if you weren't working with RebateReps.  The difference is that you are getting the "member discount" for having inquiried through RebateReps.com!

Here is a small sampling of the brokerages of agents who participate in the RebateReps program:

         
Note - RebateReps is not directly associated with nor endorsed by these brokerages, and we do not recommend any specific brokerage!  What we will do is connect you to a trusted agent (for example, from one of the brokerages above) who can understand and help you with your specific needs.

 

Frequently Asked Questions:

This seems too good to be true. What's going on here? For Buyers: The math is simple - most real estate agents keep all of the commission the seller pays them, but RebateReps agents don't. Instead, RebateReps agents give a cash rebate back to you. When the seller (or builder) pays a commission, the RebateReps agents in our network are simply giving some of their commission back to you. There is never any charge to you as the buyer. For Sellers: RebateReps agents offer a discounted listing fee (i.e., RebateReps agents charge less than most other Real estate agents do) We like to say that we "remove the taxi driver" from the home buying process. Here's how: A traditional real estate agent might spend several months driving you around every weekend to look at new homes. That takes a lot of time, which is why the agent has to make a large commission on each transaction (which, by the way, the seller pays). But we figure that you'd prefer to start your home search on the Internet instead, right?So, imagine if your real estate agent could leave the taxi driving up to you and just focus on negotiating you a great deal on your home. That's how RebateReps works. And to thank you for not having to be a taxi driver, the real estate agent shares his commission with you! A local, top-notch agent will help you identify areas & homes you might like, and give you the resources to narrow your search down on your own. Once you're ready to get serious about buying a home, the RebateReps agent will provide you with a full service experience, but since he doesn't have to be a taxi driver, he can afford to share his commission with you! Sounds like a great deal, right? It is! We both win - the agent can focus on what he does best, negotiating a great deal for you and guiding you through the escrow & closing process, and you get the freedom to start your home search on your own terms & timeframe. Why didn't anyone think of this sooner?! (Actually we have an answer for that too - it wasn't possible before the Internet!) I already registered with a new homebuilder. Can I still get a rebate through one of your real estate agents? The short answer is you may have just made a $10,000 mistake. Then again, you may still be able to get the rebate. Here's why: A builder allows you to have an agent when you show up on your first visit. If you've already visited the builder, they are not legally bound to compensate a real state agent, since you're already a potential client. However, sometimes a builder will allow you to hire an agent after the fact. Your first step should be to call the builder ASAP and ask them if you can have a real estate agent represent you. If the builder says yes, we will assign a local RebateReps agent to you. Cross your fingers, because if the builder doesn't allow you to hire an agent, then you have to either a) buy that home without the rebate (ouch!) or b) pick another builder. How can RebateReps agents afford to give rebates? We have founded our entire firm on the concept of rebates. Out network of agents utilize Internet technology to streamline their costs and to be more efficient. (For example, this FAQ you're reading now means we don't have to answer the same questions over and over on the phone!). RebateReps agents are willing to earn less money on every transaction because they know that you probably already have an idea of the property or area in which you want to buy, so the agent doesn't have to be a "taxi driver" and drive you all around town. Since you're saving the agent time, they can afford to share their commission with you. RebateReps agents also know that satisfied customers lead to a greater number of clients. When they give you a rebate, they are basically giving you back part of their commission... a commission which the SELLER pays a real estate agent. A buyer never pays a commission, so the rebate isn't costing you anything. You pay the same price for a house whether you have a real estate agent or not. So why not get a few thousand dollars back when you buy your next home? Why don't all realtors offer rebates? Most real estate agents can't afford to give rebates, for a number of reasons. Usually the real estate agent has to give up to half of his or her commission to the head office. Instead of paying you a rebate, they are paying the office to keep the lights on. Lastly, very few realtors are using technology effectively (like RebateReps agents do!) and are not able service clients while reducing costs. Aren't you glad you found us? My agent said it was illegal to offer rebates. Is this true? In most states, your real estate agent is wrong! Giving rebates is very legal in all but a handful of states - in fact, it would be illegal not to be able to give a rebate. That's called price fixing.However, a handful of states do not allow rebates: Alabama, Alaska, Iowa, Kansas, Louisiana, Mississippi, Missouri, New Jersey, New York, Oklahoma, Oregon and Wyoming. The state of Kentucky just changed their rules and made rebates legal (they were under pressure by the Department of Justice to do so). If you live in one of the states where rebates are not legal, but you want them to be, please write your Senator & Congressman, or send us an email, and we'll forward it to the Department of Justice! We really appreciate the fact that the DOJ is looking into states which do not allow rebates. It's GREAT to see the DOJ at work - here's a notice recently posted on South Dakota's website: And Here's a notice recently on Kentucky's website: My real estate agent said, "You get what you pay for". Will you provide me with the same level of service as a traditional agent? Not only will one of the agents in our network provide you with the same level of service, but we'll provide you with a better level of service, and here's how: RebateReps is not for everyone. If you're uncomfortable using email or browsing the web, the advantages of using RebateReps.com will not be as obvious to you. But if you're tired of dealing with real estate agents that aren't tech savvy (or don't even know how to use email!), come enjoy the benefits of having a RebateReps agent help you find your next home, and share his commission with you in the process. Take the taxi driving out of your home buying experience, and empower yourself! The RebateReps network is comprised of top local real estate agents across the USA, from firms such as RE/MAX, ERA, Centruy 21 and other brands you'd surely recognize. These agents have agreed to participate in our network, and we have verified their ability to give top-notch service & support to you. Where are you located? Our office is located in Northern Virginia, just outside of Washington, D.C. However, we service clients nationwide via a network of trusted agents, all of whom are willing to share their commission with you. Would I be getting 'real' cash at closing? Yes! In most cases (95% of the time), the rebate is put right on the HUD-1 closing statement, so you bring less cash to closing than you otherwise would have to! For example, let's say you're buying a $500,000 house. Your rebate would be $5,000. Now, if you were getting a 100% loan, you would just have to pay typical closing costs on your purchase, probably about $10,000 (these are loan fees, etc). BUT since you're using a RebateReps agent, that $5,000 rebate gets credited towards your closing costs, so you only have to bring $5,000 to closing instead of $10,000! You just saved $5,000 real dollars! How do you define 'new home' and 'resale / existing home'? A new home is a newly constructed home sold by a builder. A resale home is an existing home sold by a private seller. Will I have to pay more money for a real estate agent to represent me when buying a home? No! There is no cost to the buyer to have a RebateReps agent represent you when buying a home. You pay more when you don't have an agent because you forfeit your rebate! Here's how it works: New Homes:The builder is charges a price for a newly constructed home. If you make an offer with a real estate agent at your side, the builder will pay your agent a commission (part of which we would give back to you). However, if you buy that same home without an agent, the builder will still charge you same price but you will not be eligible for a rebate. By law, the builder can only pay a commission to a licensed realtor. But you don't have to believe it from us - go ahead and call a few homebuilders and ask them if they'll pay the commission directly to you. Resale homes:A real estate agent charges the seller 6% of the price of the home to list it. If a buyer shows up with a Real estate agent, then both agents split that 6%. However, if you show up and buy with no Realtor, the listing agent just keeps the whole 6%. The listing agent won't give you a discount. If you use us (or a Real estate agent we find you), however, our network of agents will give part of the 3% back to you. I see that you are located in Virginia, but I'm in Texas. Can I still use RebateReps? Yes! We have a trained staff whose job is to match you with one of our RebateRep agents in your area. If the seller pays you a 3% commission, and you pay part of that back to the buyer as a rebate, then what if the seller is offering less than 3%? An agent in our network will offer you a rebate based on the ratio of the seller's commission. He or she will work the details out with you before you begin your search, and will put it in writing. Is your firm directly affiliated with homebuilders like Pulte or Toll Brothers? No. RebateReps.com is a real estate firm offering rebates to buyers. Our network of agents represent the buyer while at the same time offering a rebate. (This means you save money! A lot of money... $2,000 to $10,000.) As we like to say, "Don't make a $10,000 mistake!' What's the difference between a pre-approval letter and a pre-qualification letter? Your lender will give you a pre-qualification letter after s/he has done a brief analysis of your financial situation. This may or may not include checking your credit. However, the letter will usually say it's contingent on various factors, such as the verification of what you've told them. A pre-approval letter is more thorough, and will include a credit check. This letter is more likely to say that you're approved for a home as long as your financial situation doesn't change (i.e., you don't buy a car while you're trying to buy a house, etc.) Some sellers or builders will require a pre-approval letter, and few won't.  You can find a list of some lenders we trust here. What is a HUD-1 Statement? The HUD-1 is a standard form produced by the Housing and Urban Development Authority. The HUD-1 is often referred to as the closing statement because it must be used at all closings and details the monies owed by the buyer to be paid to the seller. Our network of agents provide your rebate directly on the HUD-1 (so long as your lender allows it - see the next question), meaning you can bring less cash to closing. Does the rebate have to be listed on the HUD-1 statement, or can it be given after closing? According to Fannie Mae guidelines and federal laws, all credits must be given on the settlement statement (not after closing). Failure to disclose the payment to the buyer on the settlement statement can constitute a "false statement to a lender" (a federal crime), and also a violation of the License Law and Commission rules. You can read an email to us written from HUD on this issue. You can also read what a state real estate commission wrote about this federal statute. As long as the rebate is listed on the HUD-1, it is perfectly fine in the majority of states, and most lenders do allow the rebate on the HUD-1.  However, if your lender will not allow the rebate on the HUD-1, then the only way for you to get the credit would be to have the seller lower the sales price by the amount of the rebate.  It is the buyer's responsibility to ensure they have selected a lender who will allow the rebate on the HUD-1 statement. How do you make money? Our network of agents keep a smaller percentage of the commission than most agents do and they're happy to do this. They feel that you deserve a rebate when you are actively involved in the search process. Today's technology enables you to perform some of groundwork traditionally provided by an agent. This frees the agent's time to focus on the part of the deal the agent does best: negotiating contracts & guiding you through to settlement. How is this all free to me as a buyer? Absolutely! The seller always pays the commission on a home you buy. A real estate agent never charges you, the buyer, for their services. That's why you pay the same price for a home whether or not you use a real estate agent: The seller usually has already agreed to pay the listing agent a fixed commission - say 6%. So whether you buy the house by yourself or through an agent, the listing agent gets a 6% commission. Therefore, in most cases you cannot approach the seller for a discount, since the seller is paying 6% no matter what - either 6% to the listing agent, or a split of 3% to the listing agent and 3% to your agent. (Remember, this is where we come in: we give you part of our 3% in the form of a rebate). Mortgage Frequently Asked Questions What are Mortgage Fees? The price of a mortgage loan is determined by the interest rate, points, origination and other fees. A point is a fee that equals 1 percent of the loan amount. Points may be paid to the lender, mortgage broker, or both at the time of settlement, when applicable. Typically, you can pay fewer points/origination fees in exchange for a higher interest rate or more points/origination for a lower rate. What is the Annual Percentage Rate (APR) on the Truth-in-Lending document? The interest rate is the percentage rate at which a mortgage loan is repaid. The annual percentage rate (APR) takes into account the associated mortgage fees, along with the interest rate. What are the various types of loans? Loans may have either a fixed interest rate or a variable interest rate. Fixed-rate mortgages have the same principle and interest payments for the life of the loan. They can carry a term of 30, 20 or 15 years. Adjustable-rate mortgages (ARM) have a fixed rate for a specified number of years and then once matured, fluctuate in payment depending upon the terms stated for that particular program. The fixed period for an adjustable-rate mortgage can be 3, 5, 7 or 10 years. An ARM carries a lower interest rate and therefore, has lower payments. Both types of loans, fixed and adjustable, prove beneficial in different situations. Other specialty loans include interest-only loans, whereby, for a specified amount of time, the monthly mortgage payment is only the interest portion of the payment. Typically, the fixed period can be 3, 5, or 10 years. After that period, they convert to principle and interest payments and carry an adjustable rate. Other specialty loans may exist where a borrower can choose from four different payments each month in which to pay. The four different payments are as follows: A minimum payment that carries a below-market interest rate. Ultra low paymentAn interest-only payment based on the fully indexed rate. Below-average paymentA principle and interest payment amortized over a 30-year term. Average paymentA principle and interest payment amortized over a 15-year term. Average payment What is a credit score? A credit score allows a lender to help determine the creditworthiness of a borrower to repay the loan. The score is usually determined by choosing the middle score of the three different credit reporting bureaus. The higher the credit score, the better. You can obtain a copy of your credit report by logging onto several websites offering the service. However, not all of them offer the actual credit scores. MyFico.com is a service that provides your liability information along with your credit scores. How can I improve my credit scores?   Timely payment of bills.Charging less than 50% of the total credit line on revolving credit.On any revolving credit, if you exceed 75% or more and don't pay it down, then you subject your score to being lowered by 20-40 points.Pull your credit twice per year to check for erroneous information.* Limit having your credit pulled by vendors to not more than 8 times within a 30-day period. Exceeding this limit, subjects your score to being lowered by 10-20 points.Do carry approximately 6 lines of credit - i.e. car, mortgage, and about 4 credit cards.Satisfy any collections and judgments as soon as possible. Be sure to receive a formal letter from the collecting creditor so that you can send it to all three credit reporting agencies. For judgments, be sure to receive a copy of the satisfied judgment from the court.

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