The real estate rebate is simple in premise, you work with a particular realtor and they give you a percentage of their commission in the form of a real estate rebate. As simple as the concept may be, there really are no strings attached other than you working with a realtor willing to part with a percentage of their commission in exchange for your business. Here is everything you will need to know about how to get a real estate rebate when you are ready to buy your home.
Preparation is the Key
Just like anything else in the world, if you want something, you have to be willing to put in a little leg work up front. This means if you want a realtor to part with some of their commission, you have to sweeten the deal for them. To do this, you just need to get your ducks in a row before reaching out to the realtor. Inquire with your bank about getting a mortgage commitment letter. This shows the realtor and the home owner you want to make a deal and your finances are all in order. Get a copy of your credit report and clean it up so you pay the absolute least on interest rates.
Presenting Your Offer
Now that you did a little work up front, the time has come to get your real estate rebate. Before selecting your agent, visit a few of them online at either their website or social media page. Let them know you are interested in buying a house, that you have a commitment letter and your credit score in hand, and that you would like to know if they offer a real estate rebate. The realtors not interested will not reply, and those interested will contact you right away. Now you have some bargaining power as you select the best candidate.
Raking in Huge Bucks at Closing
To get a better understanding how much money we are talking about with the real estate rebate, the average house that sells for $250,000 could provide the buyer a nice check for $2,500 to $3,000 at closing. That money can go a long way in paying moving expenses, remodeling the house, having landscaping issues addressed, or simply banking the money to use towards future mortgage payments. That money is yours to use any way that you choose.
Now you know what the real estate rebate is, how to get one, and how you can spend your windfall once the house is in your hands.