VIEWS: 3 PAGES: 1 POSTED ON: 10/22/2010
Real Estate Cash Bonus Homebuyers have more rights than ever before and it is coming in the form of money! That's right, 37 states allow you to get part of the commission that the seller paid to your agent. How much money can you receive? Well that is up to you and your broker. So what are we taking about specifically here? Sellers pay buyer's agents to bring them a buyer when they list their house through their local Multiple Listing Service. The commissions range from hundreds to thousands of dollars. So, the buyer pays nothing. As a result of the internet, better search tools at the public's disposal and the amount of homes that buyers are able to locate on the internet, many buyers are questioning what is an agent for? And, agents are seeing the opportunity to work with buyers less in the taxicab driver capacity and simply hooking up with the buyer to show houses after the buyer locates the houses that they are interested in. Agents also have the opportunity to take the time they would have used chauffeuring clients around to focus their efforts to become better negotiators and more knowledgeable in contracts. Real estate brokers and the agents who work for them are seeing that by paying the buyer to do some of the time consuming work of finding a home by driving by the homes with everyone in tow is saving the real estate brokers plenty of time. So, some brokers have decided that it only makes sense to pay the buyer for doing some of the searching. After all, this searching on the buyer's part allows agents to make more deals with more clients. Buyers are earning their split of the agent's commission by doing some of the work themselves. But most buyers report that they were searching the internet, eliminating houses online and then driving by the homes before telling the agent what they wanted to see anyway. The feeling was they might as well get paid for the work they were already doing anyway. Most companies who offer a buyer rebate or buyer cash bonus base the amount that the buyer gets back after closing based on the amount of homes the agent takes the buyer to view. So, check with the company of your choice and make sure that you know how the homes will be tracked, if there is a deadline, and how the pay out will be made. Also, more importantly, interview the agent that you are hiring closely. Because the agents are spending less time in the car means that they should now be highly skilled and focused on contract preparation, negotiation and representing you fully in the transaction. Experience gives this kind of knowledge to the agent, and experience usually translates into talent. And hopefully since these agents are working more in concert with more clients, they are paying more attention. If you are a seller of real estate, view more marketing tips on my website. http://www.DuffyRealtyofAtlanta.com From Rhonda Duffy, Real Estate Broker and National Consumer Advocate The Real Estate Powerhouse
"Real Estate Cash Bonus"