Home rebate; allowing homebuyers to get cashback at purchase of a house

September 6, 2019 Business & Finance, News

A house is a necessity that nearly most people wish to own at some point in their life. The newly married couples dream of having a wonderful house where they can settle down and live happily. There are also families who think the existing house is getting small to accommodate their growing needs and they are looking to move in a bigger and more comfortable house. The aspiring homebuyers have two options which are either buy a new house or a pre-owned home.

The new houses are quite expensive and require a significant amount of financial resources to purchase as compared to used houses. But, no matter the type of house, the homebuyer has to make careful decisions and hire the services of a real estate agent also known as a realtor. The first time homebuyers with limited financial resources have to depend on mortgage loans to help them buy and own a house of their liking. The process of buying a house was considered a quite stressful and exhilarating task that traditionally involved visiting several homes listed on the real estate market, making the right choice, and then asking the realtor to negotiate on your behalf.

In modern times, the homebuyers have the convenience to log on the internet or use a smartphone application to view new or pre-owned houses for sale and book the services of the realtor. As a homebuyer you have option to either consult real estate companies or a freelance realtor to help you with the purchase of a house. One of the advantages of choosing a freelance realtor is that you would receive cashback on buying a house in form of home rebate.

The home rebate, also known as commission rebate is a portion of the purchase price given to the buyer’s agent who then shares it with the homebuyer at the closing. There is nothing better to save your money which can help you with either making the down payment, buy mortgage payment, easily pay the closing costs, or cover your moving expenses. The home rebate is allowed and legal in 40 states of the country and used by many homebuyers to either buy a lavish home or save money for the down payment. The reason why you should a realtor and not the real estate companies are because the real estate companies usually do not offer home rebate as they have many expenses to meet such as office rent, operational fees, salaries, and overhead. The realtor on the other hand work freelance does not have the financial burden of franchise fees, paying his staff, and pay little overheads.

There are three easy steps that you have to take to get a home rebate, which are

  1. Register online on the website of the realtor or call to book the services
  2. The realtor will accompany you when you visit any new or pre-owned homes
  3. Choose the best house, and once the purchase decision is made, the realtor will get a commission from which he can give you an agreed amount.

The realtors often want to share the commission they receive so that their services can be booked by plenty of prospecting homebuyers and help them earn more money. The process of getting a home rebate is fairly simple and does not have complications as the financial matters are already discussed and finalized between the listing agent and the buying agent.

The house seller usually employs a listing agent and promise him 6% if he can sell the house. The listing agent negotiates and offers nearly half of the 6% which is 3% to the buying agent so that the house can be purchased. The buying agent or realtor will then share a portion of the home rebate given to him which is nearly 1% of the purchase price. For example if the house is sold for $400,000 then the home rebate amount that you will receive will be $4,000.

The internet has played a vital part in changing the dynamics of the real estate industry. Today, the homebuyers are more informed and have several options at their disposal. The internet and smartphone growth has also allowed realtors to offer better and purposeful services to their clients. The advancement of technology has helped both the aspiring homebuyer and the realtor as considerable time, effort, and money can be saved, and a better decision can be made. The realtors have no qualms on sharing the commission they receive and view it as ‘Thank you’ service for the homebuyers who use their services. The homebuyers can use the rebate money for different purposes such as paying the closing costs, buying some new home equipment, or doing some minor repairs if it is a pre-owned home.

Author Bio:

Tom Williams has 10 years’ experience working for a real estate company. He has recently decided to start his freelance work and offer a commission to the homebuyers who are looking to buy a house in MacDonald Highlands which is a very developed housing society.