OVERVIEW OF REBATES
When a builder and the builder's agent decide on a listing price, the selling commissions for both the listing agent and buyer's agent (usually 6%) is built into the home cost as a marketing expense for the builder. Half of the percentage is for the builder's agent, and the other half for the buyer's agent, if the buyer has one. What if you choose not to have one? Builders and their listing agents do not negotiate or reduce the sales price if you choose to buy without a Realtor or agent.
Builders will not sell homes for less than other new homes that already sold in the same subdivision, even if you ask for the buyer’s agent commission (half of the total, so typically 3%) to be deducted from the sale price since you aren't represented, because doing so would hurt the "already built & sold comparable home sales" in the builder's subdivision. In other words, by selling at a lower price, they would be devaluing the other homes in the subdivision. Thus, the builder's agent would actually pocket the extra 3% rather than reduce the price of the home. This means that if you don't have an agent to take the commission and give you a percentage (if I am your agent, 2%) for yourself, you are giving away thousands of dollars to the listing Realtor®.
How can this help you choose an agent? One thing you need to consider is if the agent will give you a new construction home rebate and how much. DON'T LET ANY REALTOR DISCOURAGE YOU FROM GETTING A REBATE. If they do this, they are not being completely honest with you. The rebate percentage offered varies, but I offer a 2% rebate on new home purchases.
The advantages when purchasing a resale home (one that has been previously or is currently lived in) are similar to those when purchasing a new home. Essentially, you are paying yourself a referral fee when you let me be your Atlanta area buyer's agent. You do the work of looking for homes that you like and want to see, and I compensate you by giving you a rebate when you purchase the home of your dreams. Unlike some buyer's agents, I do not limit how many houses or which houses you look at, and I will meet with you to see as many as you need to until you find the one you want.
The resale rebate itself works much the same way as the new construction rebate. The seller's price will already factor in a percentage (again, generally 6%) for commission, and once you purchase and we receive the commission, you receive 1.5% of the selling price as your rebate. If you try to buy a home without an agent representing/protecting you, the listing agent may tell you otherwise, but they are keeping the full 6% listing commission AND 1.5% of that commission is yours with me representing you. Plain & Simple!
Beyond receiving the money, though, there are other advantages when purchasing a resale home. In addition to helping you find a home that you like, we will negotiate home repairs (from your home inspection) on your behalf and contractually with the seller. These could cost you in the long run if they are not properly addressed upfront, especially if you try to sell the home later. Oversights and pitfalls of purchasing a home that has already been lived in can cause problems later, so make sure you have a representative who will look out for your best interests!
When and how you get your rebate is your decision; you can receive the money at closing or after closing. The rebate amount will be included on the HUD 1 settlement statement (as pay for closing costs, home price reduction, attorney fees, etc. or whatever wording your mortgage lender finds acceptable). If I pay you directly after closing, I will pay you by certified bank check from Wells Fargo, Bank of America, or your bank of choice.
Did you know...
A Buyer's Rebate Brokerage Agreement is NOT required by law in order to receive a rebate. This is the buyer's decision, and I will work with you either way. The agreement simply provides protection to all parties by spelling out the terms of the rebate and the agency relationship in the transaction. At any time, if you decide that you no longer want to work with me, you can simply text me or send me an email of termination of services.
WHAT WILL YOU DO WITH YOUR REBATE?
We have had many clients use their rebate toward the new home or move. For example, some of our buyers have used the rebate to pay for home upgrades, moving expenses, new furniture, new appliances, or left-over closing costs. You could use it to pay off credit card debt or car loans to help you get established in your new home without worrying about debt. Use it to cover one or more mortgage payments so you have less stress while relocating, especially if you are getting settled into a new job. You can even put it toward family expenses: filling your new refrigerator or daycare expenses.
You don't have to use the money for things related to the home. Why not take a vacation? Spend some of the money on treating yourself or your family. You may way to put it towards an investment like a new car. However you choose to use your rebate money, your options are limitless, and you'll be so glad you took the rebate!
CREDIT ON YOUR NEW HOME!
There is no rule or law (real estate, Gerogia, federal, or otherwise) that prohibits you from receiving your rebate as credit on the settlement statement at closing. Take it as a discount!
CONTACT DENNIS BERDIS
1905 Ham Dr, Atlanta, GA 30341
SAME REBATE Amounts APPLY. Please Ask. No loss of any rebate % or being held hostage to the number of homes you can view, OR NEED to View; to qualify for other Realtor's rebate.
*Note: U.S. D.O.J. rules in favor of and that home buyer rebates from realtors commissions are Legal. All, but 10 states; acknowledge and allow rebates under their states legislation. Read more here
AREAS WHERE MY REBATE PROGRAM IS AVAILABLE