The U.S. Justice Department’s Antitrust Division has been backing Non-Traditional Real Estate Brokers offering Home Buyer Rebates and other Pro-Consumer business models for some time now. Home Buyer Rebates are legal in about 40 States and the Justice Department is trying to convince the old “Traditional” real estate Brokers in the other states to fall into line because rebates make homes more affordable for consumers, Check to see if rebates are legal in your state.
Many traditional brokers around the country continue to lobby against real estate rebates and/or try to make it more difficult for the non-traditional real estate business models to prosper by putting out misleading information if not completely false, self-serving statements to protect their bottom line. There is nothing wrong with protecting one’s bottom line as long is not to the detriment of the consumer, and that is the whole point.
With this in mind here are a few tips and links to help you locate some of the best “Full Service for Less” Realtors and Buyer Agents around the county. They offer Rebates, Commissions Back, Discounts and other new business model advantages that make home buying more affordable.
1st - As Real Estate Company Owner & Broker may I say there is no such thing as a "Typical" home buyer rebate amount because all real estate brokers are free to negotiate their own deals, commissions, services, discounts and/or rebates. Notice that I said Brokers and not Agents. Agents are agents of the Managing Broker of the company, and that Broker is ultimately responsible for the office policy concerning services, rebates, commission splits, etc for the company's clients.
2nd - The contention made by some "Traditional" real estate agents that you, as a buyer, are going to get less service or inferior representation if you are use a Realtor that offers a Rebate or other such incentive is insulting to other Realtors and very misleading. The fact is many Agents have worked their way up to become Broker/Owners of Real Estate Companies, some with new Business Models including "Full Service for Less" which, in my opinion, is what consumers want and need now and will for many years to come. Technology has made it possible for new business models to compete effectively with old traditional 5%-6% real estate firms, and some of those Traditional Agents and Brokers just don't like it!
3rd - May I suggest you look for a Buyer’s Agent or Buyer's Broker that will guarantee in writing that they will work as your Advocate and protect your best interests from start to finish during the home search and purchase process. A good Buyer's Agent (ABR, CBR or EBA) will typically save you more than any Rebate, and if you locate a Buyer's Agent that happens to have a Full Service for Less, Commission Back or Home Buyer Rebate business model, you will typically not only "get what to pay for" you will get a lot more.
Finally, we all know that the consumer always get what they want and/or need, and if the Traditional Real Estate Company can't provide it the consumer will find it elsewhere. That is why new real estate business models continue to open to meet the wants and needs of real estate consumers in what looks to be a very challenging real estate environment for years to come. Real Estate Rebates are available, legal, and negotiable in most areas. Your best bet is to shop around for a Real Estate Broker with a new business model and compare apples to apples wit hte Tranditional business models in your hometown or your destination city. My new Real Estate Savings Center Network can help you do that.
