Home Rebates Offered by Brokers
There’s a new twist surfacing in the real estate industry. Broker rebates. Brokers are giving most of their commissions to buyers.
This approach appears to be gaining momentum in some of the more pricier real estate markets across the country. For example, Seattle-based Redfin launched a service that offers to rebate two-thirds of the commission it receives for representing a home buyer. Chicago-based, BuySide Realty Inc. offers home buyers rebates of 75% of the commissions it earns as a limited-service broker.
Some sizable firms such as ZipRealty Inc. and LendingTree, already promote rebates and advertise them heavily. But the idea of receiving a rebate on a home remains relatively unknown throughout the rest of the country. Additionally, fifteen states, including Missouri, New York and Oregon, ban or heavily restrict rebates on real-estate commissions.
It will remain to be seen if the practice will catch on here in Las Vegas.
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.
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