Buyer Rebate Definition

So there is no confusion, I only offer a rebate on new construction. Thanks 🙂

A rebate or what some call a buyer concession has a pretty simple explanation: A home buyer rebate is when a buyer’s agent agrees to share a portion of their commission with their client.

The basic rules:

1. You have to agree.
2. I/my company has to agree.
3. Your lender has to agree. Rebates are a legal part of the homebuying process on the federal level and in the states I work. North and South Carolina.
(pretty sure it is also legal in 42 states total)

The rebate will be documented in our contract called a buyer’s agency agreement. The rebate stated on this contract will be an exact amount.

I will provide you, your lender, and the closing attorney with a document called a concession letter from my company.

The rebate will only be provided through the closing process and will be referenced on all closing documents. Absolutely no remuneration will be provided outside of closing. (you would not believe the number of people that don’t get this part 🙂

The amount is the only part that gets complicated. The reason is that builders do not all pay the same commission.

For example: Builder X might pay 3% of the purchase price as a commission but builder Y might only pay $2500.
These are real numbers in my market. So I hope you can see it’s impossible to give an upfront number.

My wish is that you will reach out so we can have a discussion about this topic. If you have any qualms after speaking with me, we just part ways. No harm no foul.

Again, new construction is my focus now and I only offer a rebate for new builds.

And again, here is my rebate homepage:

Buying New Incentive