Frequently Asked QuestionsHere is a collection of frequently asked questions that I have put together to help you in buying or selling a home. If you have any other questions, not listed here, feel free to call or send an e-mail.
By clicking on any of the questions below, you may view the answer.
Home Buyer Rebate Program
Home builders typically have sales agents they employ to represent them. The builder pays these agents a salary and sometimes a commission. Builders also offer a commission to brokers that bring buyers to them that is typically 3%.
Buyers pay the same price for a new home whether they are represented by their own broker or decide to deal directly with the builder's agent. If a buyer deals direct builder, he pockets an extra 3% profit because the buyer was not represented by an agent. The commission amount to buyer-brokers is paid on the base purchase price of the home excluding options, upgrades and any incentives the builder is offering.
When a home owner lists their home for sale with a real estate broker (Listing Broker) they sign a Listing Contract that commits them to pay a total commission, typically 6%, to sell the home no matter who sells the home. If the Listing Broker finds the Buyer and sells the home, the Listing Broker gets to keep the full 6% commission. That is $18,000 on a $300,000 home. If another broker finds the buyer and sells the home the Listing Broker would typically split the 6% commission 50/50 with the Buyer's Broker. The Listing Broker receives a 3% commission and the Buyer's Broker receives a 3% commission.
Our Preferred Broker will share up to 50% of the commission they receive from representing you as your buyer's broker. A 50% rebate is very generous compared to what other real estate brokers are offering. Most don't offer any rebate whatsoever... Remember, if you bought a $300,000 home and the Preferred Broker gives you 50% of their commission that could be up to $9,000 paid to you at escrow. Assuming a 3% commission paid to the Preferred Broker.
Commission amounts can vary based on the type of home sold, new home, resale, foreclosure, or short sale. The commission paid to the buyer-brokers can range between 2% and 3.5% of the purchase price of the home. The Preferred Broker will be more than willing to share this information with you.
You can spend the rebate however you choose. Some clients put it towards their closing costs to help reduce the cash needed to close the transaction. Others use it for home improvements such as, air conditioning, landscaping or fencing. It is up to you... You can even use it to take a vacation...
Real estate brokers are paid a commission based on the purchase price of the home. The typical percentage is between 2.5% and 3%. So if the buyer's broker sold a home with a purchase price of $300,000 and the percentage offered to the buyers broker is 3%. The commission the buyer's broker would receive is $9,000.00 for helping the buyer purchase the home.
A "rebate" is when a buyer's broker gives a portion of the commission to the buyer. The rebate is paid to the buyer once the home has successfully closed escrow and is sold.
Our Preferred Broker will rebate up to 50% of the commission to the home buyer on all homes purchased through them.
NOTE: Some of our brokers offer full representation for an additional fee (either paid in advance or at closing). If you are interested in that type of service, please inquire with your listing broker.
Do not confuse Realtor.com with the Realtor MLS. They are two separate systems, and Realtor.com is operated by MOVE, Inc. Realtor.com downloads property data from the hundreds of local MLS’s and makes that property data available to the public.
Realtor.com is not a “For Sale By Owner” website, so seller’s contact information is not available or permitted to be posted. It is acceptable to list the seller as the property contact on the local Realtor MLS; that’s because, it is ONLY accessible to Realtors. We list you as the contact on the local MLS.
The MLS advantage is that every single broker and agent participating in the MLS has an incentive to sell your home, effectively putting every agent in the area to work for you! The first place a buyers agent looks is always the MLS, so there’s simply no better way to gain instant and widespread exposure for your home.
Real estate agents rarely use newspaper ads or other advertising to locate available properties, even though they may use them for their own advertising. Having your property listed in the MLS will provide needed exposure and will increase the chances that a real estate agent will find a buyer for your home. Real estate agents are motivated to sell properties listed in the MLS because the seller has already agreed to pay a commission.
Yes. Your property will be listed on Realtor.com and most other popular real estate websites (websites vary depending on syndication feeds from your local MLS). These internet listings will give you national exposure to all home buyers. Since hundreds of people move to other states daily, this exposure can be a vital component in selling your home quickly and for the best price.
Independent websites will obtain your listing directly from the MLS. Keep in mind that they pick up whatever they wish from your MLS listing to publish on their website. Thus, we have no control over these independent websites and we cannot change or edit their content. Realtor.com is the only website that can be edited by your broker, and only if you purchase the “Showcased Listing” upgrade with your listing plan.
Note: All Arizona listing plans include the Realtor.com “Showcased Listing” upgrade.