Author Topic: Realtor rebate check for new house  (Read 1901 times)

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Offline USCTrojanCPA

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Re: Realtor rebate check for new house
« Reply #15 on: November 22, 2021, 02:54:50 PM »
What is a reasonable split % just out of curiosity?

Depends on a few things for me...amount of the broker coop (builders have been cutting their coops), how much time was spent showing resale homes and making offers on them, and if it is a new or repeat client.  Definitely around 50% is reasonable.
Martin Mania, CPA
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Offline USCTrojanCPA

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Re: Realtor rebate check for new house
« Reply #16 on: November 22, 2021, 03:04:06 PM »
He's quite 'popular' in this forum. We hope he could make it right so we don't have to spell out his name or file a complaint

Give him 48 hours to make it right, if he doesn't then post his name on here so people can know who to stay away from because he doesn't keep his word.
Martin Mania, CPA
AgencyOne
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CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

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Offline WTTCHMN

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Re: Realtor rebate check for new house
« Reply #17 on: November 22, 2021, 03:17:21 PM »
He signed a check of 44.4% of broker coop, and told us we can't deposit/cash for next couple days, it will be bounced  >:(

44.4% ??

Kris is really sending you some bad juju.  He could have at least made it 44.5%  ;)

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Offline bluebig

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Re: Realtor rebate check for new house
« Reply #18 on: November 22, 2021, 03:25:47 PM »
What is a reasonable split % just out of curiosity?

Depends on a few things for me...amount of the broker coop (builders have been cutting their coops), how much time was spent showing resale homes and making offers on them, and if it is a new or repeat client.  Definitely around 50% is reasonable.

Thanks - is that 50% from whatever amount or do you net anything out like taxes, some folks seem to try to back out taxes so ends up being lower.

Offline USCTrojanCPA

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Re: Realtor rebate check for new house
« Reply #19 on: November 22, 2021, 03:59:51 PM »
What is a reasonable split % just out of curiosity?

Depends on a few things for me...amount of the broker coop (builders have been cutting their coops), how much time was spent showing resale homes and making offers on them, and if it is a new or repeat client.  Definitely around 50% is reasonable.

Thanks - is that 50% from whatever amount or do you net anything out like taxes, some folks seem to try to back out taxes so ends up being lower.

50% of the broker coop amount.  I don’t net out my taxes before the rebate is a tax deduction on my tax return. It’s not taxable to the buyer either, it’s a reduction of cost basis (the same way if the rebate was done through escrow).  Maybe if agents and their accountants understood how rebates are treated for tax purposes they wouldn’t make any deduction for taxes (I know Bc I’ve been audited by the IRS over my rebates and let’s just say I prevailed).
Martin Mania, CPA
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714-747-3884 cell

Often imitated....Never duplicated!
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Offline msuum

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Re: Realtor rebate check for new house
« Reply #20 on: November 22, 2021, 04:06:42 PM »
I think agent gives more than 50% nowadays. I have purchased a new home last year and my agent gave me 75% of his commission. Everything was pretty upfront.

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Offline bluebig

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Re: Realtor rebate check for new house
« Reply #21 on: November 22, 2021, 04:23:24 PM »
I think agent gives more than 50% nowadays. I have purchased a new home last year and my agent gave me 75% of his commission. Everything was pretty upfront.

That's a nice % agent gave you. Someone like that is bound to have good relationships for regular way sales/purchases given relationship building aspect which is good to hear these days.  Have not heard of that much. Do you mind if I can get that agent's contact info as I'd like to get on the list of homes with co-op fee/rebates?  I may even use them to sell a home as well.  Many thanks!

Offline cghirvine

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Re: Realtor rebate check for new house
« Reply #22 on: November 22, 2021, 08:05:24 PM »
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him

Offline USCTrojanCPA

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Re: Realtor rebate check for new house
« Reply #23 on: November 22, 2021, 08:32:47 PM »
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him

That's total weak sauce.  I bet that if you didn't text/call him, he wouldn't have ever reached out to you to give you your rebate.
Martin Mania, CPA
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Re: Realtor rebate check for new house
« Reply #24 on: November 22, 2021, 08:34:11 PM »
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him

So did you get the max rebate or not? Hah

Offline cghirvine

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Re: Realtor rebate check for new house
« Reply #25 on: November 22, 2021, 08:37:08 PM »
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him

So did you get the max rebate or not? Hah

At this moment, he gave a check with no money

Offline USCTrojanCPA

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Re: Realtor rebate check for new house
« Reply #26 on: November 22, 2021, 08:38:25 PM »
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him

So did you get the max rebate or not? Hah

At this moment, he gave a check with no money

Let's hope that the check doesn't bounce.
Martin Mania, CPA
AgencyOne
CA DRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline msuum

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Re: Realtor rebate check for new house
« Reply #27 on: November 22, 2021, 09:02:42 PM »
I think agent gives more than 50% nowadays. I have purchased a new home last year and my agent gave me 75% of his commission. Everything was pretty upfront.

That's a nice % agent gave you. Someone like that is bound to have good relationships for regular way sales/purchases given relationship building aspect which is good to hear these days.  Have not heard of that much. Do you mind if I can get that agent's contact info as I'd like to get on the list of homes with co-op fee/rebates?  I may even use them to sell a home as well.  Many thanks!

Just PM you the info.

Offline cghirvine

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Re: Realtor rebate check for new house
« Reply #28 on: November 22, 2021, 09:06:12 PM »
I think agent gives more than 50% nowadays. I have purchased a new home last year and my agent gave me 75% of his commission. Everything was pretty upfront.

That's a nice % agent gave you. Someone like that is bound to have good relationships for regular way sales/purchases given relationship building aspect which is good to hear these days.  Have not heard of that much. Do you mind if I can get that agent's contact info as I'd like to get on the list of homes with co-op fee/rebates?  I may even use them to sell a home as well.  Many thanks!

Just PM you the info.

Could you please send me your agent contact as well. Thank you!

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Re: Realtor rebate check for new house
« Reply #29 on: November 22, 2021, 09:40:55 PM »
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him

So did you get the max rebate or not? Hah

At this moment, he gave a check with no money

Let's hope that the check doesn't bounce.

Did you have a contract between you and that agent. That you will get x percentage?

 

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