Home Buying in 10001>Question Details

Wanna Buy?, Home Buyer in Charlotte, NC

Should I use Redfin or a local agent when I move? I know what I want and need a rebate of the commission. Than

Asked by Wanna Buy?, Charlotte, NC Mon Mar 9, 2009

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I get asked this question often and for some reason people think they need a rebate. You get what you pay for and if you are a buyer you do not pay. Would you ask a lawyer to discount his rate or an accountant? It doesn't make sense and you will end up paying more in the end.
1 vote Thank Flag Link Fri Dec 31, 2010
Are you looking for a broker's commission rebate or do you want one of the agents to rebate part of their commission? Both items are completely different concepts. You want the prior if you want the seller to give you some cash back at closing, and you want the latter if you simply want to pay your agent less (why? the seller pays the commission--so it doesn't come out of your pocket). Incidentally, the prior is far less common in residential real-estate than in commercial.
1 vote Thank Flag Link Tue Mar 17, 2009
You get what you pay for..... good agents work hard and are very thorough...very successful ones don't give away income....

Highest and best regards,

Vincent Paige
REALTOR® | Century 21 Elite Home Finders
Certified BPO Specialist
5401 S. Kirkman Rd., Ste 725 | Orlando, FL
Direct: 407.256.8190 | Fax: 407.264.8073

Visit http://www.ThePremiumProperties.com and find your dream home today!
0 votes Thank Flag Link Sun Jan 22, 2012
Jolie Muss Buyer...
Broker
Upper West Side, New...

Wanna buy,
Not sure what Joseph is saying but I do offer a buyer's rebate on a Manhattan real estate purchase ( I'm not the only one) Representing a buyer in a purchase here is very time consuming as most apartments are coops so most do not offer a rebate for a purchase under 1 Million. I do, but I have a sliding scale according to the sales price/ (Please contact me for the details of the scale and how it's done) It is legal in NYS and NYC! Take a look at my Trulia Blog for info and Links to the DOJ 's website where the US government promotes the practice and explains it in detail! Undoubtedly I can issue you a rebate in the thousands (ok the lowest is appx $1800.00 -LOL!) as long as it is allowed by your financing, we reach an agreement before I start representing you and you register me with every listed property that offers a co-broke!(That is 99.% of them) Looking forward to helping other buyers save money while they enjoy professional & personalized representation!
Please follow me on twitter! http://www.twitter.com/jojomuss
0 votes Thank Flag Link Thu Oct 20, 2011
Redfin does not seem to have any New York city agents or listings - at least not in Manhattan. I have never heard of a "rebate" for the commission being issued to an NYC buyer as buyers in this market - to my knowledege - never pay the brokerage commission in the first place. Here the sellers pay all of it in almost all residential transactions.
0 votes Thank Flag Link Fri Jan 21, 2011
I'm in New York City and regardless of Ms Muss' comment, this commission rebate is pretty much a non starter here.

I've never been asked for a rebate (kickback). I keep it in mind though. If I ever hear it in regard to any transaction I am a part of, I'll have a good laugh as I part company with the person asking. Good Luck in Charlotte.
0 votes Thank Flag Link Fri Dec 31, 2010
I would try a local agent. There are things you can get from them that you can't from Redfin.
0 votes Thank Flag Link Wed Dec 22, 2010
You should look locally to see who gives the highest rebate. Redfin is good but there are others.
0 votes Thank Flag Link Wed Dec 22, 2010
You should look locally to see who gives the highest rebate. Redfin is good but there are others.
0 votes Thank Flag Link Wed Dec 22, 2010
No Real Estate professional worth his salt would negotiate a commission rebate before taking out a buyer. Time, experience and knowledge of the market is too valuable. If you think you can save money by looking on your own feel free. Just know that the seller's broker does not work fo you. There could be many ways in which to save money that have nothing to do with the broker's commission that you could be completely unaware of. If an agent is that desperate for work I would look elsewhere. You get what you pay for.
0 votes Thank Flag Link Mon Jul 12, 2010
Dear Wanna Buy?
Do you think that an agent's ability to negotiate makes a difference in the price you pay?

I suggest interviewing a few agents and compare their plan to help you buy your home.

Agents are not all the same.
0 votes Thank Flag Link Tue Mar 17, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
There are tons of ways to rep yourself or get a rebate. Redfin is one. No reasons to have 3% sucked away if you know what you need. The internet cuts out the Buyer's agent.
0 votes Thank Flag Link Tue Mar 17, 2009
Wanna,
I'm sorry to contradict anyone..Buyer's rebates are allowed in NY and are quite legal..(There can be some restrictions if they are not allowed with some financing arrangements)
In fact I offer a generous buyer's rebate at closing if you purchase a NYC home, by using me as your broker ..
If anyone needs more information about the legality or what kind of rebate I offer, please contact me by phone or email..(My website does not have the details as yet)
0 votes Thank Flag Link Tue Mar 17, 2009
What exactly are you asking?

I just Googled Redfin, if you go on their website which I'm sure you already visited, they don't do any business in New York. I just entered New York as the city and it didn't find any listings.
With that being said, it would be pointless to use them since they can't help you here. And in my opinion it's always better to use a local agent who knows the area. You want to use someone who lives and works in New York. Unfortunately there is no such a thing as a rebate of the commission in New York.
Fortunately for you, buyers don't pay commission in New York it's always the Seller who pays the listing broker and a buyers broker. To you my friend, it's free of charge when it comes to buying and paying a broker.

Can I ask what you are thinking of purchasing? Maybe I can give you some feedback.

Good Luck to you,
~Alen
0 votes Thank Flag Link Thu Mar 12, 2009
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