Author Topic: Realtor rebate check for new house  (Read 1897 times)

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Offline WTTCHMN

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Re: Realtor rebate check for new house
« Reply #30 on: November 22, 2021, 09:42:47 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

Well to be fair, he hasn’t posted much lately on TI either.  Maybe he has some personal stuff going on.

TI is crawling with realtors.  There should be a master list of rebate percentages they offer.

Dr. CA Real Estate  44.4%
USCTrojanCPA  +/- 50%
msuum’s realtor 75%
AW 88.8% ?  (Above he said double 44.4%)
Cares?
IR2?

Feel free to add/edit!

Offline best_potsticker_in_town

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Re: Realtor rebate check for new house
« Reply #31 on: November 24, 2021, 02:10:15 PM »
As someone who does real estate on the side (helping friends/family exclusively)...5% is not worth rocking the boat. 50/50 (or whatever agreed to initially) and everyone goes home happy.

Also, if you are an agent, find one where you can get paid directly from escrow. Unless the transaction is especially complicated, waiting for a broker to pay you out is lame.

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Offline Cares

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Re: Realtor rebate check for new house
« Reply #32 on: November 25, 2021, 09:18:42 AM »
Rebating through escrow for new construction is typically determined by the builder and their escrow company. I find new construction to have little flexibility.

Offline USCTrojanCPA

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Re: Realtor rebate check for new house
« Reply #33 on: November 25, 2021, 06:25:05 PM »
Rebating through escrow for new construction is typically determined by the builder and their escrow company. I find new construction to have little flexibility.

Pretty much every builder does not allow rebating any part of the broker coop through escrow, some even have language in their broker coop agreement that the agent will not rebate any portion of the broker coop inside or outside of escrow.  I've always given my new home buyers that rebates within days of them closing, regardless of whether I got paid by my broker of not because I don't live commission check to commission check (it's never taken longer than about a week for me to get paid by my broker after closing).
Martin Mania, CPA
AgencyOne
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Offline USCTrojanCPA

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Re: Realtor rebate check for new house
« Reply #34 on: November 27, 2021, 08:36:05 PM »
Any update on getting made whole?
Martin Mania, CPA
AgencyOne
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CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
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Online Chegg

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Re: Realtor rebate check for new house
« Reply #35 on: November 29, 2021, 10:36:15 AM »
Rebating through escrow for new construction is typically determined by the builder and their escrow company. I find new construction to have little flexibility.

Pretty much every builder does not allow rebating any part of the broker coop through escrow, some even have language in their broker coop agreement that the agent will not rebate any portion of the broker coop inside or outside of escrow.  I've always given my new home buyers that rebates within days of them closing, regardless of whether I got paid by my broker of not because I don't live commission check to commission check (it's never taken longer than about a week for me to get paid by my broker after closing).

I must have gotten lucky, I've been able to get co-op passed through escrow for two new constructions (both Shea).


Offline Cares

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Re: Realtor rebate check for new house
« Reply #36 on: November 29, 2021, 11:47:57 AM »
Rebating through escrow for new construction is typically determined by the builder and their escrow company. I find new construction to have little flexibility.

Pretty much every builder does not allow rebating any part of the broker coop through escrow, some even have language in their broker coop agreement that the agent will not rebate any portion of the broker coop inside or outside of escrow.  I've always given my new home buyers that rebates within days of them closing, regardless of whether I got paid by my broker of not because I don't live commission check to commission check (it's never taken longer than about a week for me to get paid by my broker after closing).
I must have gotten lucky, I've been able to get co-op passed through escrow for two new constructions (both Shea).

Which communities? I've done a few Shea homes and they never let me rebate through escrow.

Offline cghirvine

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Re: Realtor rebate check for new house
« Reply #37 on: December 01, 2021, 11:38:21 PM »
Updated: After some conversations, the agent signed a 2nd check, 4.4% of rebate amount to us and we were be able to deposit those 2 checks after few days. We are not sure how/why he came up with those number, an odd ball ...

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Offline USCTrojanCPA

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Re: Realtor rebate check for new house
« Reply #38 on: December 01, 2021, 11:52:21 PM »
Updated: After some conversations, the agent signed a 2nd check, 4.4% of rebate amount to us and we were be able to deposit those 2 checks after few days. We are not sure how/why he came up with those number, an odd ball ...
Glad to hear that everything worked out even though it took way longer than it needed to.
Martin Mania, CPA
AgencyOne
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CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
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Offline Cares

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Re: Realtor rebate check for new house
« Reply #39 on: December 02, 2021, 12:15:40 AM »
Yea sounds like the agent was trying to weasel his way out of the rebate.

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