There is a very common mis-conception that it is free to use a buyer's agent service.
Well, in the very ancient past, this might have been the case.
However, in today's age of internet and competition, it is certainly not free to use just any agent.
There are either discount, full-service agents, or deep discount agents in Illinois who can provide large rebates on real estate transactions to the buyer, thereby reducing your costs. This practice is both legal and ethical, but more importantly, cost effective.
- one example is a large brokerage with red and fin in the name, offering roughly 1% purchase price rebate. This effectively translates to a 40% rebate on a typical 5% fee deal,
- there are many other brokerages which legally can rebate you close to 2% of the transaction cost. The higher the purchase price, the higher the rebate,... more