FSBO listings are created directly by Flushing home owners that are not working with a listing broker. These home owners may not necessarily pay out a commission at the closing. As a result, a home buyer rebate may not be available with a Flushing FSBO.
BID OFFER MINUS YOUR BUYER REBATE A buyer rebate provides for some wiggle room on what a buyer is willing to pay. If the seller counteroffers your initial bid with a higher amount, then you want to see if the buyer’s rebate is enough of a cushion for you to Read more…
BUYER REBATES OPEN UP THE NEW YORK REAL ESTATE MARKET TO NEW AND INNOVATIVE BUSINESS MODELS The New York Attorney General encourages home buyers to work with agents to get a buyer rebate. Commission rebates help open up the real estate market to new and innovative business models. Rebating by Read more…
A buyer rebate does not change nor diminish a real estate brokerage’s services. One of the many duties that brokers perform is to schedule and accompany buyers to see the homes that are listed for sale. After seeing a home together, it helps to compare notes between buyers and buyer Read more…
US Department of Justice – Economic Analysis Group Discussion Paper Home buyers primarily desire to find the house that best matches their preferences at the lowest net sales price possible. As a result, a selling agent might attempt to attract more customers by offering home buyers a higher rebate than Read more…
When we think of search, Google automatically comes to mind. A broker types in a few keywords, and information is returned by Google. In real estate, Zillow, StreetEasy and MLS are the search engines that buyers and brokers have available at their fingertips. These websites aggregate listings from listing brokers Read more…
Typically it is best that we accompany you to a new construction listing and register you as a client in the sales office. A buyer rebate may be available if the new construction’s builder has incentive packages for buyers and buyer agents. If your agent is not with you on Read more…
BUYER REBATES ARE NOT CLASSIFIED AS INCOME BY THE IRS A buyer rebate is not classified as income, and a Form-1099 will not be issued. A similar example is the rebates you receive on a cashback credit card. The points and cash rebates that you redeem on these credit cards Read more…
NY REAL ESTATE BUYER REBATES ARE LEGAL Real estate broker commission rebates are legal in 40 states, including New York state. NY Attorney General Eric T. Schneiderman issued a public letter confirming that commission rebates are legal. New Yorkers are encouraged to take advantage of lower commissions when buying a home. Changes Read more…
When a buyer approaches a seller’s agent at an open house without any agent representation, the seller’s agent may engage in dual agency with proper agency relationship disclosure and authorization from both the seller and buyer. Under dual agency, the seller’s broker will represent both the seller and buyer for Read more…