Frequently Asked Questions for Buyers
How can you afford to give Home Buyers 1.0% of the home purchase amount? I haven’t heard of other agents offering that.
We don't need 3% of the sales price to be paid fairly. If we assist you with a $400,000 home purchase, do you think we should be paid $12,000? Or does $8,000 seem like fair compensation, with the other $4,000 reducing the size of that check you cut?
I'm tight on cash, so getting more than 1.0% of the home's value would make a huge difference... is there anything you can do?
Our top priority is getting you into that Dream Home!
Let's figure out how much you need, and we'll devise a plan to get it from the seller, lender, and/or Us as your Realtors. We've often directed more than 1.0% of the purchase price to our buyers.
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." Buyers typically pay little or nothing for closing costs.
Oh, and all offers are required to have an expiration: offer good thru 12/31/19
We come out ahead when we work together!