The real estate rebate or commission is the same thing, an incentive offered to home buyers in exchange for working with a particular real estate agent. Real estate agents work on commissions, they get a percentage of the house selling price, and the rebate is a smaller portion of their pay giver the buyers at the closing of the house. There is no paperwork or credit checks here, you agree to the rebate and the professionals at Premier One provides you the cash when the transaction is completed.
Who can benefit from these real estate rebates? The Charleston SC Real Estate professionals show you the three parties that stand the most to gain with these type transactions:
1. The Home Buyers – The home buyer gets a check at closing that can be quite substantial. A home that sells for $300,000 will typically result in the home buyer walking away with a rebate check that ranges from $2,500 or more. The money can be used for just about anything, from utility deposits, new furniture, or to pay the moving company to deliver their belongings. The money can help to bridge the gap until the next paycheck, especially since at closing many buyers walk out penniless after all the fess and costs involved with closing on a house.
2. The Home Owners – The home owner certainly benefits from the real estate rebate because they are not giving up an extra penny here, but they get more traffic in their door because the realtor wants to make up for the commission they are losing. The realtor is the one paying the rebate, so to make up for the money, they hustle and get more clients and move more houses in less time. More people looking at the house means more of a chance the house will sell instead of sitting stale in the real estate market.
3. The Real Estate Agents – Now although the real estate agent has to pay the rebate out-of-pocket, this is not such a bad thing in the end. The real estate world is all about word of mouth, and a home buyer is more likely to refer their friends and relatives to this real estate agent after cashing a check for a few grand. Being flush with all that cash makes it easier to refer people, and with social media word spreads fast. The real estate agent could get a half-dozen new clients each month that will surely cover their commissions paid out to buyers.