Buyer Rebate Program
What are Buyer Rebates?
In South Carolina a Realtor is allowed to rebate a part of their commission (paid by the seller) back to the Buyer. We rebate our buyers 1/3rd of our commission (paid to us by the seller). So as an example, on a $250,000 purchase, our Buyer would get back $2,500 from us at closing. Higher-priced properties would get even more back.
How about new construction? Almost all builders figure on paying a Realtor fee on their homes, and it's built into the price. They almost never give you money off or a credit if you don't have a Realtor. So why not get a rebate from us?
The way it works is our clients look for properties on their own, and when they decide on the property they want to make an offer on, we sign a Buyer's Agency Agreement, and prepare the contract.
All rebates are paid at closing. They must appear on the HUD1 Settlement Statement. If you have a lender, check for their policy on rebates.