HOUSEWIZE Services For Buyers

Rebates Make Buying A Home Less Expensive
In purchases where Buyer Brokers are offered half of a 6% real estate commission, they may refund a portion of the commission to their homebuyer client. Homebuyer Rebates are typically cash payments paid at closing. They may be applied to closing costs, fees or repairs. Rebates are subject to lender approval.

How Do Rebates Work?
Rebates can save consumers several thousand dollars in a single transaction. For example, if a broker offers to refund one-third of its commission to the homebuyer, the average buyer of a $300,000 home could save $2,500 to $3,000 (based on the 2.5% to 3% commission rates typically earned by the buyer’s broker).

Virginia Law Concerning Rebates to Consumers
Sellers: Allows choice of brokerage services
Buyers: Allows brokers to offer rebates to consumers

Disclosure: Virginia law allows brokers the option to offer à la carte services to consumers, as long as those brokers disclose to the consumers what services the broker will provide and what services standard agents provide under Virginia law. This disclosure preserves the ability of consumers to choose the brokerage services they want.

Please contact me, Robert Couperthwaite, for more information at
757-561-3676

I have enclosed a link (www.usdoj.gov) to the Department of Justice website for more information on Seller Discounts and Buyer Rebates.

Disclaimer: Real Estate commissions are always negotiable between Listing Broker and Seller.