Buyer Rebate 20% of my share of the commission
Buying real estate is one of the biggest financial transactions most people ever make. It is expensive and sometimes a bit stressful. While it is also, hopefully, a pleasant and successful experience, I try to add to the joy by giving you a thank you 'reward'. Many Realtors give 'Thank You' gifts at closing such as a bottle of wine or fruit basket. I give a Rebate check of 20% of my share of the commission, if the total commission is more than $1,000. When I get paid, you get paid!
As an example, if my share of the coop commission is 2.5% and the purchase price is $300,000 then the math looks like this.......
$300,000 x .025= $7,500 (My share of the commission)
$7,500 x .20= $1,500 to you at closing.
Many transactions have somewhat different commission splits.
If the coop commission being offered is only 2% then you get 20% of $6,000 or $1,200.
If the coop commission being offered is $1,000 or less then the Rebate does NOT apply……sorry, but those are almost always REO’s and they require much more work than the ‘average’ transaction.