Frequently Asked Questions for Buyers
How can you afford to give Buyers a big portion of your commission? I haven’t heard of other agents offering that.
We don't need 3% of the sales price to be paid fairly. For example, if we assist a Buyer with a $400,000 home purchase, do you think we should be paid the full $12,000... or can we afford to spare some of it to make our client's home more affordable?
Is there a limit to how much Magnusson Home Team will credit Buyers?
No limit. Doesn't matter if the home or land purchase is $150k or $3M... 25% of our commission will be credited to our client.
Other agents have said that it’s illegal for them to give me a share of the commission, since I’m not a licensed agent.
Commission rebates are 100% legal in Arizona, approved by the US Department of Justice (http://www.justice.gov/atr/public/real_estate/rebates.html) and the AZ Department of Real Estate.
Wow, seems like a great deal... but what's the fine print?
When we put the offer in writing, the document states that directing commission to you is contingent on your lender's approval.
Every lender we've discussed this with has the following policy for rebating commission to buyers: "commission can be applied to closing costs, prepaid expenses, and buying down the interest rate."
The credit is based on the commission check paid to Magnusson Home Team.
Oh, and all offers are required to have an expiration: offer good thru 12/31/21.
We come out ahead when we work together!