Rebate on New home purchases - Discuss

I didn't say it was earned income.  I said it's a gift.  It's also not a reduction of cost basis because the escrow documents don't show a reduction in cost basis.
 
test said:
I didn't say it was earned income.  I said it's a gift.  It's also not a reduction of cost basis because the escrow documents don't show a reduction in cost basis.
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It's a reduction of cost basis, same as if the rebate went through escrow (both a non-taxable event to the buyer) since Redfin's rebates would be done outside of escrow at times.  You can trust me on this, I worked with a former IRS lawyer when I got audited.
 
If anyone is looking to buy a new home and interested in getting the biggest rebate possible, hit me up, I will beat any agent's rebate in Irvine...guaranteed.

?????
 
Agent Joe said:
If anyone is looking to buy a new home and interested in getting the biggest rebate possible, hit me up, I will beat any agent's rebate in Irvine...guaranteed.

?????
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Can you beat MAX Rebate? That's gotta be like you're going to give the full amount 100% of your commission to the buyer. I surely will hit you up then.
 
Mety said:
Agent Joe said:
If anyone is looking to buy a new home and interested in getting the biggest rebate possible, hit me up, I will beat any agent's rebate in Irvine...guaranteed.

?????
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Can you beat MAX Rebate? That's gotta be like you're going to give the full amount 100% of your commission to the buyer. I surely will hit you up then.
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I'll give you 99% commission (less broker fees) if you buy me dinner with drinks!
 
I think a lot of Chinese realtors in Irvine offered splitting the broker co-op.

Things might be slower now since I am seeing a couple of Chinese realtors offering 75% rebate on FB.
 
Kenkoko said:
I think a lot of Chinese realtors in Irvine offered splitting the broker co-op.

Things might be slower now since I am seeing a couple of Chinese realtors offering 75% rebate on FB.
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I gave 50% rebate to 2 buyers that closed in December. They were my friends though so probably tough clients will ask for 75%+ or else walk to someone else who is willing.
 
Why only on the new homes? Can you guys give #MAXRebate or #RobinhoodRebate or #75%Rebate for resales also?



 
Mety said:
Why only on the new homes? Can you guys give #MAXRebate or #RobinhoodRebate or #75%Rebate for resales also?
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Work-load.  Signing up at the new sales office takes 10 minutes and then you get a big check for essentially doing nothing.  For resale there are so many other factors to getting the transaction completed.  Everything can be negotiated though.
 
woodburyowner said:
Mety said:
Why only on the new homes? Can you guys give #MAXRebate or #RobinhoodRebate or #75%Rebate for resales also?
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Work-load.  Signing up at the new sales office takes 10 minutes and then you get a big check for essentially doing nothing.  For resale there are so many other factors to getting the transaction completed.  Everything can be negotiated though.
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Hey man! I had to drive more than 10 minutes to meet them to sign them in!
 
Mety said:
Why only on the new homes? Can you guys give #MAXRebate or #RobinhoodRebate or #75%Rebate for resales also?
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sure, but you'll have to do MAX work, lol
 
woodburyowner said:
Mety said:
Why only on the new homes? Can you guys give #MAXRebate or #RobinhoodRebate or #75%Rebate for resales also?
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Work-load.  Signing up at the new sales office takes 10 minutes and then you get a big check for essentially doing nothing.  For resale there are so many other factors to getting the transaction completed.  Everything can be negotiated though.
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+1  Less work involved in a new home purchase for an agent than a resale home purchase, but I've had situations where I had to do a lot of hand holding for newbie new home buyers where there were issues with the home (repair items).
 
think33r said:
Nightmare Scammers here in Irvine 

@RickLopez Realtor Lied to my friend and walked off with $30K

After months promising he would pay the guy just took off

stay away from this guyhttps://www.yelp.com/biz/richard-lopez-coldwell-banker-platinum-properties-irvine
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Oh man, I'm sorry to hear that.  Unfortunately there will be scumbag realtors like this.  Did the agent go MIA on your friend or did he just flat out refuse to provide them the rebate?  If your friend has anything in writing (email, text, and/or agreement), they should go to the broker first and then the realtor association and then the department of real estate. 
 
Mety said:
Agent Joe said:
If anyone is looking to buy a new home and interested in getting the biggest rebate possible, hit me up, I will beat any agent's rebate in Irvine...guaranteed.

?????
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Can you beat MAX Rebate? That's gotta be like you're going to give the full amount 100% of your commission to the buyer. I surely will hit you up then.
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100%? That's called getting your broker license. A realtor is another human trying to make a living just like yourself. Be nice and he might give you more.  ;)
 
think33r said:
Nightmare Scammers here in Irvine 

@RickLopez Realtor Lied to my friend and walked off with $30K

After months promising he would pay the guy just took off

stay away from this guyhttps://www.yelp.com/biz/richard-lopez-coldwell-banker-platinum-properties-irvine
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That's quite short sighted and unfortunate. Hopefully your friend has something in writing and can use that to go after him. Assuming he promised to rebate 50% ($15k). He could have easily made that back through a referral or future sale.
 
Any agents still doing the $1k rebate thing? I.E. you take $1k for signing your name and rebate the rest to the buyer? Friend is looking at orchard hills. 
 
Maserson said:
Any agents still doing the $1k rebate thing? I.E. you take $1k for signing your name and rebate the rest to the buyer? Friend is looking at orchard hills. 
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The IRS might have a bit of an issue with that kind of rebate.  Also, agents that work under a broker who provide 100% commission splits have to pay a broker transaction fee (usually $1,000 and up).
 
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