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Commission Rebates: How Home Buyers Can Save in 2021

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What is a Home Buyer Rebate?

A home buyer rebate, or commission rebate, is when a real estate broker or agent shares a portion of the fee they get on a transaction with the buyer. Buyer rebates and cash rewards — which are similar but different — can save you thousands on your home purchase. And they’re becoming more common throughout the industry. garage door service offer a 50% commission rebate or cash back as a built-in benefit of using their service.


How do Home Buyer Rebates Work?

Commission rebates let brokers and agents help buyers save money on their home purchase without negotiating a lower sale price with the seller. When a buyer buys a home, a big part of that purchase price — 5.45% on average— goes toward realtor commission fees. Typically, the two brokers or agents who handle the sale split that total commission down the middle — about 2.7% per agent.


You can sell your property with Trelora for a discounted flat fee, which could mean significant savings, especially if you have a more expensive home. If you buy a home with Trelora, it will return you 50% of the commission it receives from the seller as cash — a pretty stellar deal. Trelora offers the same general set of services as traditional realtors, but customers work with a team — i.e., a separate person for each step of the process — rather than a single dedicated agent throughout their purchase or sale. Open Listings also offers home buyers a 50% commission rebate, which requires a $5,000 minimum commission.


In some cases, Open Listings represents clients directly. However, Open Listings Referral Network is a referral process that unites buyers with third-party real estate agents in exchange for an undisclosed commission divided or a referral fee. Open Listings keeps the referral fee amount hidden and does not reveal the split amount it takes from real estate agents who work under their own license.


By engaging with Open Listings, users authorize them to share personal information and home search history with any Partner Agent, despite a consumer who wants to work with an Open Listings agent directly.


Why do Brokers and Agents Offer Home Buyer Rebates?

There are two main reasons an agent or broker would offer a commission rebate to a home buyer:

To attract new clients

To close more deals


Thankfully, a fairer, smarter approach called a buyer's broker commission rebate is also referred to as a buyer agent rebate. This new approach allows buyers to get more financially when buying a home or apartment. The concept is simple. The buyer’s agent gives a portion of that commission back to the homebuyer in the form of a refund or rebate.


Benefits for Clients

As a traditional buyer or an investor, the benefits are clear. More money for you at the closing table. Eventually, this helps you because now you can spend or invest money wisely in projects you previously didn’t have the funds for. Simply put – more money for you is a good thing.


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