Who qualifies for a home rebate?
Anyone and everyone; all buyers qualify with absolutely no exceptions.
Do you have to buy a home listed with a participating broker to get the rebate?
No. We can offer a rebate on ANY home listed for sale in any Multiple Listing Service (MLS).
Are there any fees or costs charged by the agent to receive the rebate?
Absolutely not! Because the commission is paid by the home seller, their is no cost at all to the home buyer.
What other services or product is associated with getting the rebate?
In accordance with the law, there are none.
I’m already working with a buyer’s agent. Can I still receive a rebate if I start working with you?
No. If you are already working with a buyer’s agent and have signed a Buyer’s Agency Agreement, we cannot provide you with representation or the rebate.
How will I receive my rebate?
It will be paid directly to you in the form of a credit toward closing costs or a check provided by the closing agent at settlement.
How much is the rebate that is offered?
The amount offered is fully detailed in the required buyer brokerage agreement. The amount of the rebate varies depending on the price of the home you purchase.
Can we visit open houses on our own without an agent?
Absolutely! In fact, it is encouraged. Once you hire us as your buyer agent and complete and return the required Buyer’s Agency agreement, we will provide you with business cards to hand to the hosting broker at any open house that you visit.
Are short sale properties eligible for the rebate?
No. Because of the tremendous amount of work involved as well as the difficulty in working with these types of properties, it isn’t cost effective for us to provide a rebate.
Can I get a broker commission rebate if I purchase a new construction home?
The commission is built into the home’s price and builders don’t give discounts when buyers deal directly with them. So, if you want the refund, we must accompany you to the builder’s model home complex on your first visit – no exceptions! The builders are very strict about the first visit registration requirement. If you deal directly with the builder, you lose out on the refund and enrich the builder by the amount of the commission.
Is this a government program?
No. The rebate is provided by the real estate broker and is deducted from the commission paid by the seller to the real estate broker.
*IMPORTANT: New Jersey Real Estate Commission rules REQUIRE there be a written agreement with the buyer at the onset of the relationship. Otherwise no rebate may be issued. So you must sign up for this initially or it will not apply.
The Buyer may purchase any home listed for sale on the market with any agency, but they must purchase the home through our office. The Buyer will be obligated to pay any applicable taxes for the receipt of the rebate and should contact a tax professional concerning the tax implications of receiving the rebate. All parties to the transaction, including the mortgage lender, must be notified of the rebate. Lender guidelines may be affected by receipt of a rebate, so discuss with your mortgage representative. The rebate is not contingent on the Buyer using any services or products.