One of the most popular real estate trends is probably one you have not heard much about lately. The concept is simple, buy a home and get commission rebates. The reason this is not getting major coverage by local news is because the realtors are giving up a nice chunk of their commission in exchange for potential buyers simply choosing to work together.
If you are in the market or will be looking for a home in the near future, here are some of the reasons why you should be seriously looking for a realtor who offers these commission rebates.
The Best Realtor in Town
The easiest way to gauge how good a realtor is would be by the amount of homes that they closed on this month. The busier the realtor, the faster they get the job done, and they certainly know what they are doing. That being said, not only could you score a few thousand in rebates at the closing working with them, you know that you will be finding and closing faster than working with less experienced real estate agents.
Freeing Up Some Cash
When you are involved in closing on a house, the bank and your realtor will tell you not to make any purchases, anything that could cause the deal to go south. So you are living hand to mouth for a few weeks, and then at the closing you part with a ton of cash to complete the deal. For many, that next paycheck seems miles away, so luckily they can bridge that gap when the realtor hands over that real estate rebate for a few thousand dollars with the set of house keys.
Not Everyone Feels the Same
Not all realtors are happy about the idea of giving up their money in exchange for doing business. These realtors have a point to a degree, because sometimes they have a customer on the hook, they show them dozens of houses, and then the client simply changes their mind or goes with another realtor. That time is all money down the drain, so giving up a share of a sale that did go through bothers them. The smart realtor however knows that the commission would not even be an issue without the sale.
Even though some states are trying to ban these real estate rebates, what goes on between a realtor and customer is private, and if the realtor wants to thank their client for their business, no one can argue this type of deal is beneficial to both involved.