Each year it seems that trends in the real estate market appear and then disappear as fast as they arrived. In 2016 we are seeing a trend that appears to have some legs, and this is going to be very good for buyers across all different price points. If you are not yet familiar with the real estate rebate and you are in the market for a new home, then this information from Charleston real estate professionals -will impact your buying decision greatly.
The Real Estate Rebate/Commission
The real estate commission has been growing in popularity because the market is once again heating up. With limited houses on the market and a number of realtors to choose from, these agents have come up with a way to separate themselves from the pack. The real estate rebate is nothing more than a buyer incentive in the form of cash at closing, to work with a particular agent. You work with this agent, they agree to give you a nice chunk of their commission at closing. Free money at closing tends to sweeten just about any deal.
The Uses for the Free Money
The uses for the real estate rebate are numerous for the home buyer. No longer will the buyer have to limp into their new home penniless after paying all those fees at the closing. Being handed cash that could number the thousands can really help to bridge that gap from closing to first paycheck. The money can be used to cover moving expenditures, food, home repairs, utility deposits, painting, landscaping, anything that will cost the new homeowner those first few days and weeks in their new home.
Negotiating the Real Estate Commission
Now not every agent is going to be advertising the fact they offer the rebate, it is in fact a huge chunk of the money they make for selling the house. That being said, if you go in prepared and explain to the realtor that if they were willing to offer the rebate in such a percentage you would work with them, they will jump at the chance to have your business and you get the benefit of knowing you have some cash coming your way at the close of the deal.
The real estate rebate can help to eliminate money concerns about first month bills, deposits, and closing fees. Knowing you have a check coming at the closing will even help to make the buying experience enjoyable all the way around.