Rebate on New home purchases - Discuss

[andy]

I am looking for a recommendation to work with an agent for buying a new home and getting rebate back. If you are an agent and have been supporting this, please PM me with how you like to work & what fee you charge for your service.
If you have used an agent and have a recommendation, could you kindly reply here or PM me?
Thanks
Andy.

 

[Housingbuff]

Is this rebate the same thing as the buyers agent's commision?  Or does my agent get a rebate and commision?

Stupid question I know... :-[

The broker co-op is the new home version of a buyers agent's commission....agent gets a broker co-op for a new home transaction and the buyers agent commission for a re-sale home transaction.  The rebate is just a refund of part of the broker co-op/buyers agent commission to the buyer.

What % of the agent?s commission for new construction is given to the company that the agent works for?

 

[usctrojancpa]

Is this rebate the same thing as the buyers agent's commision?  Or does my agent get a rebate and commision?

Stupid question I know... :-[

The broker co-op is the new home version of a buyers agent's commission....agent gets a broker co-op for a new home transaction and the buyers agent commission for a re-sale home transaction.  The rebate is just a refund of part of the broker co-op/buyers agent commission to the buyer.

What % of the agent?s commission for new construction is given to the company that the agent works for?

It depends on the brokerage and the agreement that the agent has with the brokerage, it doesn't matter whether the commission is from a new home or resale purchase. With some of the larger brokerages, the brokers may take as much as 20-30% of the gross commission from the agent and frown up providing rebates to buyers. Smaller brokerages like the one that I work under let the agents keep all of their commission (no commission split) but do take a transaction fee (either flat or increases as the purchase price increases) who comes out of the agent's commission.