Buyer Rebate

How Much of a Rebate Will I Receive?
Typically, we offer between 50% of our commission in the form of a rebate.   Based on a 3% Buyer Agent Commission offered by the Listing Brokerage to Coop MLS Members. 
$   300,000  Home = $ 4,500 rebate
$   600,000  Home = $ 9,000 rebate
$   900,000  Home = $13,500 rebate
$1,500,000  Home = $22,500 rebate

$3,000,000  Home = $45,000 rebate


What Is a Home Buyer Rebate?
Home buyer rebates, also known as commission rebates, are when a real estate agent who’s helping their client buy a home gives a portion of the commission they receive from the seller back to their client.

The buyer can use this rebate for their down payment, closing costs, to buy points on their mortgage, and in some cases, can even take the rebate as cash at closing. It’s important to note that if you’re using a mortgage lender to finance your home, they have to approve how you use the rebate. Many lenders won’t let you take the rebate as cash at closing.

Commission rebates allow you to afford a more expensive home, or to save on your down payment for your dream home.

In a sellers market, home buyer rebate is a powerful tool that savvy buyers can use to stand out from their competitors. If a home is listed at $400,000, a buyer that’s receiving a rebate could potentially offer $406,000—and pay the exact same amount as another buyer that offered $400,000.

For homes that receive multiple offers, this could be the difference between your offer being accepted, and months of searching for another home.
 

How Do Home Buyer Rebates Actually Work?
The graphic below shows how the rebate process typically works.

Home Buying Rebates

a1-5c2244816444e.png

 

In a traditional real estate sale, the seller hires an agent and offers between 4-6% to their agent to sell the home. Their agent then offers half of that to the buyer’s agent.

If the buyer has hired an agent that offers a commission rebate, the agent will give them a portion of the commission offered by the seller’s agent.

 

Where Are Home Buyer Rebates Legal?      Utah?  Yes.
Commission rebates are legal in 40 states, and the US Department of Justice supports making rebates legal in all 10 states.

In fact, the Department of Justice actively investigates any organization that tries to regulate real estate commissions. The DOJ is also leading a broad effort to educate states about the benefits of competitive real estate commissions in an effort to legalize rebates in all 50 states.

This graphic from the Department of Justice will let you know if home buyer rebates are legal in your state:

state-rebates-5c2223b88c956.png

Are Rebates Tax Exempt?
The answer is yes. The IRS says that a cash rebate paid to a buyer of property at or after closing is an adjustment in the price, and is therefore not taxable income to the buyer. ... Since they are not taxable income, such rebates need not be reported on Form 1099-MISC. We do recommend that you consult with you accountant for verification. We can rebate you in the form of a check after closing, reduction in sales price (this could lower your cost basis for property taxes), or pay closing cost.

The Process for existing homes (50% rebate):
1) Search for Properties
Search for property on your favorite website, i.e. Realtor.com, Zillow, Trulia, etc..  Sign up for new listings. 

2) Identify Properties
If possible, drive by properties of interest.  Narrow down your choices based on neighborhood, price, etc. See if the listing agent will show you the property but do not sign an agreement.

3) Contact Us for Rebate Amount
Submit contact form and indicate the MLS #s or addresses of properties you are interested in. 

4) Make Offer and Close
We can assist you with your home search, property tours, making an offer, negotiating a deal, writing the contract, and closing sale. 
 
The Process for new home builders (we typically rebate 50%):
1) Contact us - BEFORE you sign a contract with builder, seller, agent or starting the process.
2) Make sure to list "Town & Country Apollo Properties, Lynn C Fillmore" as your agent, when visiting builders.
3) Close on your dream home and collect your rebate! We can credit it towards your closing costs or price reduction. Typically mortgage companies do not allow you to take money outside of closing. The rebate must be put in the sales contract and best best way is to pay your closing cost that you would normally out of pocket. This would be the same thing as writing you a check.


Please contact us with more questions.homepage.jpg

Simply, the Buyer Agent will work for you for 1.5% (retainer fee is required for rebate)

Below is one of our FlatFeeGroup.com Affiliate's Rebate Video -  Our services are similar

https://vimeo.com/198829539

Buyer Rebate Program                 

Get instant leverage..... with a reduction or credit in Commissions

BUYERS
I am a leading Utah E-Broker that specializes in assisting smart and savvy buyers. The secret is, smart buyers like you can EARN money to buy a home, a rebate for up to 1.5% of purchasing price. You will enjoy driving around and checking out houses at your own pace without any pressure. I am at your fingertips when you need help to:

 

Work with the Lynn Fillmore, Principal Broker, Realtor, Listing Agent, and Buyer Agent.  

 

Are you in the market to buy or building a new, custom home?

 

Considering a National or Local Utah Builder?

 

WHY NOT GET PAID TO DO IT!!! 

 

Example:  Town & Country Apollo Properties closed a property for $800,000, the Buyer Brokerage commission was $24,000 and the Buyer received a rebate check for $12,000!

 

How do rebates work?

 

Town & Country Apollo Properties offers a rebate payable directly to our Client, the Buyer, after closing; or if Lender permitted-a credit on the settlement statement at time of closing.

 

What does the Department of Justice have to say?  Click Here!

 

How to earn buyer real estate rebate at closing!

 

How to begin:  Register here online, or just give us a call and let's get the ball rolling!

 

If you have already found a home you would like to preview, just provide us with the MLS# or property information. We can look up the history of the property and verify the status, MLS history, public records as well as provide a copy of the property disclosures prior to viewing the home.

 

Additionally, at your request, we will enter your information into the MLS system so you receive emails of any home that meets your criteria automatically! You would be the first to know when a home is listed or the price reduced that meets your guidelines.

 

Get Pre-Approved:

 

Pre-approved buyers have much greater negotiating power than those who have not. Submitting a pre-approval letter with an offer strengthens credibility and ensures the Seller you are a serious buyer. Not sure who to contact?  Just give us call!

 

Communicating with Agents, Builders & Sellers

 

Disclose to ALL parties that you have retained Town & Country Apollo Properties to represent you and make it clear you are not retaining their services. We highly recommend you consult with us prior to communicating with any listing agent so we can ensure you have been properly registered as our client.

 

New Homes: If you're buying a new home from a builder in a subdivision just let the builder / developer know you have an agent and you receive the rebate. We request that you have the builder or builder's rep provide you with a note verifying they have registered you as our client and provide a copy to us upon receipt.   ALL New Home Clients will receive a 50% rebate/credit!

 

Note: Properties currently listed with Town & Country Apollo Properties are eligible for the rebate program.  However a reduction in price or Realtor Incentive may apply vs a Rebate, so your offer through us as an In House Agent will have advantages over other offers.  We work along side you the buyer and our sellers without any outside agents involved ensuring the maximum savings for both parties.

 

Offers: Town & Country Apollo Properties will assist our registered Clients with facilitating all offers, counter offers, inspection request to remedies; order title work and review settlement statements at no additional charge.





 

How Much of a Rebate Will I Receive?
Typically, we offer between 50% of our commission in the form of a rebate.   Based on a 3% Buyer Agent Commission offered by the Listing Brokerage to Coop MLS Members. 
$   300,000  Home = $ 4,500 rebate
$   600,000  Home = $ 9,000 rebate
$   900,000  Home = $13,500 rebate
$1,500,000  Home = $22,500 rebate

$3,000,000  Home = $45,000 rebate


What Is a Home Buyer Rebate?
Home buyer rebates, also known as commission rebates, are when a real estate agent who’s helping their client buy a home gives a portion of the commission they receive from the seller back to their client.

The buyer can use this rebate for their down payment, closing costs, to buy points on their mortgage, and in some cases, can even take the rebate as cash at closing. It’s important to note that if you’re using a mortgage lender to finance your home, they have to approve how you use the rebate. Many lenders won’t let you take the rebate as cash at closing.

Commission rebates allow you to afford a more expensive home, or to save on your down payment for your dream home.

In a sellers market, home buyer rebate is a powerful tool that savvy buyers can use to stand out from their competitors. If a home is listed at $400,000, a buyer that’s receiving a rebate could potentially offer $406,000—and pay the exact same amount as another buyer that offered $400,000.

For homes that receive multiple offers, this could be the difference between your offer being accepted, and months of searching for another home.
 

How Do Home Buyer Rebates Actually Work?
The graphic below shows how the rebate process typically works.

Home Buying Rebates

a1-5c2244816444e.png

 

In a traditional real estate sale, the seller hires an agent and offers between 4-6% to their agent to sell the home. Their agent then offers half of that to the buyer’s agent.

If the buyer has hired an agent that offers a commission rebate, the agent will give them a portion of the commission offered by the seller’s agent.

 

Where Are Home Buyer Rebates Legal?      Utah?  Yes.
Commission rebates are legal in 40 states, and the US Department of Justice supports making rebates legal in all 10 states.

In fact, the Department of Justice actively investigates any organization that tries to regulate real estate commissions. The DOJ is also leading a broad effort to educate states about the benefits of competitive real estate commissions in an effort to legalize rebates in all 50 states.

This graphic from the Department of Justice will let you know if home buyer rebates are legal in your state:

state-rebates-5c2223b88c956.png

Are Rebates Tax Exempt?
The answer is yes. The IRS says that a cash rebate paid to a buyer of property at or after closing is an adjustment in the price, and is therefore not taxable income to the buyer. ... Since they are not taxable income, such rebates need not be reported on Form 1099-MISC. We do recommend that you consult with you accountant for verification. We can rebate you in the form of a check after closing, reduction in sales price (this could lower your cost basis for property taxes), or pay closing cost.

The Process for existing homes (50% rebate):
1) Search for Properties
Search for property on your favorite website, i.e. Realtor.com, Zillow, Trulia, etc..  Sign up for new listings. 

2) Identify Properties
If possible, drive by properties of interest.  Narrow down your choices based on neighborhood, price, etc. See if the listing agent will show you the property but do not sign an agreement.

3) Contact Us for Rebate Amount
Submit contact form and indicate the MLS #s or addresses of properties you are interested in. 

4) Make Offer and Close
We can assist you with your home search, property tours, making an offer, negotiating a deal, writing the contract, and closing sale. 
 
The Process for new home builders (we typically rebate 50%):
1) Contact us - BEFORE you sign a contract with builder, seller, agent or starting the process.
2) Make sure to list "Town & Country Apollo Properties, Lynn C Fillmore" as your agent, when visiting builders.
3) Close on your dream home and collect your rebate! We can credit it towards your closing costs or price reduction. Typically mortgage companies do not allow you to take money outside of closing. The rebate must be put in the sales contract and best best way is to pay your closing cost that you would normally out of pocket. This would be the same thing as writing you a check.


Please contact us with more questions.homepage.jpg

About Us

 

Best Choice Flat Fee™ is a national group of independent real estate brokers. With us, you’re listing your property direct with a local state licensed REALTOR® and will save thousands on agent commissions. Each one of our broker/REALTOR® has years of experience, specializing in listing and selling. We are here to provide you with outstanding service & support. Please call and ask questions if you like, or just order online.

Our Contacts

Melissa Wallace

801-793-8032

License #