Recently, a trend has begun in the real estate industry that can save home buyers hundreds or even thousands of dollars when they purchase a home. Â Some forward thinking Buyer's Agents are now offering cash and other incentives to their buyer clients. Â Sometimes these incentives are very large.
The New York State Department of State has held that a broker may offer anything of monetary value to a buyer or seller as an incentive to have them utilize the services of that broker. Â This could be anything from home appliances, to free trips, to home home inspections, or even to cold hard cash.
Using a Buyer's Broker can be very advantageous to potential home buyers. Â By engaging the services of a Buyer's Broker you get professional representation by someone who is "on your side" and who owes loyalty only to you. Â He will attempt to find you the home that is right for you, negotiate the best possible price, and in all phases of the transaction have your best interest in mind.
Many buyers mistakenly believe, however, that in order to utilize this valuable service they will need to pay their Buyer Broker out of their own pocket. Â In fact, in many cases, the Buyer's Broker is paid by the seller, even though he represents the buyer.
Under the rebate model, some Buyer's Brokers are now sharing a portion of the seller-paid commission with their buyer clients, resulting in significant savings for the buyer. The home buyer not only receives professional representation for free, but actually receives a cash rebate upon closing. Â For the buyer it is a big win-win.
If you would like more detailed information about the advantages of utilizing a Buyer's Broker or how buyer rebate programs work, please give me a call or visit my web-site.
Thomas S. Moser Licensed Associate Broker Keystone Realty USA (631) 261-2800 ext. 304 http://RefundAtClosing.com