In the majority of states, real estate agents are allowed to offer home rebates to their clients. This is a practice that is even encouraged in some cases in order to spark competition among real estate agents. The rebate is a cash refund of a portion of the cost of purchasing the home. To get the best home buyer rebate, you will need a strategy.
Negotiating A Rebate
Not all real estate agents offer rebates. However, all you have to do is ask. Reach out to several real estate agents and ask them if they offer rebates. Then, ask about the specific rebate. Whichever agent offers the best rebate could be the agent you choose to work with. Or, by contacting several real estate agents, you can use the rebate offer as one of several factors when considering which real estate agent is the best to work with. Make sure to be upfront about your budget, what you would like to achieve and your real estate agent may be willing to offer a rebate so that he or she can work within your budget.
Rebates Are Highly Recommended
It is definitely recommended that you try to negotiate a commission rebate. A rebate can save you thousands of dollars and can be worth the cost of a very good down payment, a home addition or any number of other major life expenses. Even if your state does not allow for rebates, you may ask the seller to reduce the cost of the home by the equivalent of a rebate value. You will spend a lot of your time and money looking at homes and negotiating a property that may ultimately not meet your financial needs. The rebate helps make up for these added expenses.
Have A Third-Party Negotiate On Your Behalf
Rather than negotiating for a better home buyer rebate yourself, another option is to work with a service that allows for agents to compete. There are many services that allow real estate agents to bid so that you can select the best rebate.
While you may also be able to save money by avoiding a real estate agent in the first place, this is not recommended. It can be difficult to understand the jargon and navigate the complexities of real estate. Therefore, it is better if you work with an expert who will help you achieve an excellent deal that will make up for the added fee that the real estate agent collects.