If you are not yet familiar with real estate rebates and you are in the market to buy or sell your house, this might be the time for you to get acquainted with them. In short, these rebates are a small slice of the realtor’s commission that is given to you at the closing simply for agreeing to work with the real estate agent.
Let us take a closer look at them and why real estate rebates are good for consumers:
1. Simple Path to Free Money – With the real estate rebates you don’t have to jump through any hoops in order to get the money. There is no credit application, there is no background check, in fact, once you sign the contract to work with your realtor, they agree to give you a percentage of their commission. Just be sure that your realtor participates before assuming every realtor does.
2. The Amount of Money – Most people make it to the closing and have barely enough money to eat that first week in their new house. Now imagine the realtor handing you the keys in one hand at closing and several thousand dollars in the other. Just for example, if you were to close on a house that cost $250,000 then you could expect to see a commission check for $2000 – $3000 when the deal is closed.
3. Using Your Money – Now that the closing is behind you, the need for money is more than ever. You could use your real estate rebate to pay the movers to bring your belongings to the new house. The money could be spent to do some upgrades or renovations before you move into the house. Perhaps you are walking into an empty house after spending every penny to close the deal, now you have money to fill the refrigerator and pantry until your next paycheck.
As great as these reasons are to get the money sound, no all realtors participate in the program because it is a piece of their pay that they are handing over. These realtors work very hard for their money, and parting with several thousand dollars can be difficult for many. The smart realtors understand the power in the real estate rebate and know that had it not been for that rebate they might not have gotten this client.
These savvy realtors also know that these clients they gave the rebates to are more likely to refer them to family and friends, and sales is the name of the game in the real estate business.