Planning To Buy A Home? Receive Redfin Buyer Rebate With Us!
Buying a home can be time-consuming, expensive, emotional, and stressful, specifically if it is your first time! Between the realtor commission, closing costs, and moving costs, it is no wonder why people fear the process of buying or selling a home. Some of the most common questions get center around real estate agent commission rates both for the home buyer and seller. Many people tend to ask – are commission rates negotiable, who pays the buyer agent commission, and is a home buyer rebate legal? There is a lot of misinformation regarding these topics and we are here to clear the cloud of confusion.
If you are going to buy a home, you must have heard about saving money with a Redfin rebate.
Redfin rebate – Redfin buyer rebate program is a credit that eligible home buyers can receive at closing when they buy their home. When you buy with a professional agent, you can relax as you will have an agent who is 100% on your side and with the most state-of-the-art technology. Additionally, you can save thousands with the Redfin rebate program.
Traditional brokerage fees overview and how you can save with Redfin Rebate Program
Whether you are buying or selling a home, you are likely to work with a real estate agent. It’s very crucial to have a thorough understanding of the fees associated with real estate services, and who pays what.
How do real estate agents get paid?
The home seller pays agent fees at closing for both their agent and the buyer’s agent. In the total commission, half is paid to the seller’s agent and a half to the buyer’s agent, though fees are negotiable.
If you are the buyer, you will pay closing costs and not the commission. Buyers who work with a professional agent, get a refund at closing, which can be applied to closing costs.
Sellers can ask their listing agent if their commission is negotiable. If your agent asks you to sign a contract, make sure to give it a careful read and negotiate before signing it. As per a survey, a majority of home sellers said they received a discount on the commission they paid to their agent.
Save with a Professional Agent
When you sell your home with a professional agent, no negotiation is required. We believe in complete transparency and charge every client the same amount. Instead of the typical 2.5% – 3% charge, you will only pay only a flat fee of 0.89% with us and the rest of the commission is yours. Around 2.11% of the sales price and no hidden fees.
When do you pay?
Real estate agents are generally paid during the closing process, so, if you do not sell your home or fail to close, you won’t be charged commission. There could be exceptions basing upon the agent’s contract. So, read it carefully before signing.
When buying homes for sale, you should trust and rely upon Magnolia Realty. Our professional team of real estate agents is there to help you in making the right home buying decision in the best way possible. With us, you are sure to get the Redfin buyer rebate credited.