Broker Commission Rebates in Westchester County, NY
Go Back To Previous PageNew practices are coming to the world of real estate throughout the United States. There are guarantor companies, special “free rent” months in
luxury communities, and broker commission rebates are starting to take center stage. This is particularly true in Westchester County, where real estate home sales are hotter than ever. Westchester County real estate is not that unique and works the same way as anywhere else in the country. If you are new to broker rebates, you probably have many questions about what they do, what they can offer people, and if they’re legit. So, let’s take this time to clear up all the misconceptions, shall we? We will discuss the real estate commission in Westchester county.
What Are Broker Commission Rebates in Westchester County?
Broker commission rebates are a unique concept that involves rewarding buyers for being patrons of a specific brokerage. Brokerages collect a commission as payment for the work they do in assisting the real estate transaction. This is anywhere from 1 to 3 percent of the total price but 2.5% in general.
A real estate agent commission rebate is a rebate given to a home buyer where the broker “splits” their commission with the buyer at the end of the transaction. So, the buyer gets some of their money back. It’s a way of saying thank you for using their service.
Are real estate Broker Commission Rebates Legal In Westchester County?
Absolutely. We decided to make an entire article about the topic that you can refer to. But the short story is that they are legal in
Westchester.
Westchester county real estate is not that unique. They are legal throughout New York state as well as New York City.
This has made the entire real estate industry shake itself up. Rebates are now increasingly popular among top brokerages; truthfully, it’s a good thing for consumers.
Why Would Real Estate Brokers Offer Rebates?
This tends to change from brokerage to brokerage since each has certain ideals that it tends to stick to. The most common reasons why this happens to be the case is because of the following reasons:
- The effort to purchase a house is lower, yet payouts haven’t adjusted. Since it’s easier to get the work done, it makes sense to match fees accordingly. So, many realtors are okay with giving up a portion of their commission.
- Sometimes, it’s a matter of getting business. Everyone loves the concept of a rebate. You still get the same service, but you don’t have to pay the full commission when everything is said and done. It’s an attractive deal, especially for people on a tight budget.
- Many real estate brokerages do this to show they focus on the client. It shows they are willing to go the extra mile, even if they do not make as much money.
Is There A Catch in Westchester County real estate?
Are you getting thousands of dollars back on your broker’s commission rates? For free? It seems too good to be true. Though it often seems like there would have to
be a catch here, the truth is there’s no catch.
This is a legitimate practice done by a wide range of people. The only real “catch” is that you must have the entire transaction through before getting the rebate check.
Moreover, sellers do not have the opportunity to have a rebate. It’s a buyer-only feature since they are the ones buying the home. Sellers can’t get rebates since they earn money from the purchase.
Do All Brokerages Offer Buyer Commission Rebates?
Nope, and it actually can be pretty hard to find a brokerage that does. This is especially true in Westchester, where there isn’t as much competition among real estate buyer’s agents or listing agents as you would find in New York City. To make matters worse, many full-service brokerages that offer them will not advertise it openly.
NestApple regularly mentions its rebates, primarily because we are proud of doing it. We feel it’s morally correct, especially since the cost of moving has reached an all-time high. If you want to get a rebate without sacrificing quality service, give us a call now.
Call NestApple!
Once people know what we do, our next challenge is convincing them that we are just as good (if not better) than our traditional real estate agent competitors. An instinct is to think we offer rebates because we are not good. Thankfully, we have a long track record of proving this is not the case, and we are happy to connect potential clients with any of our current or former clients to hear what they think.
Not only do we pay you to buy your home, but our clients agree we add lots of value. Our skills, honesty, and professionalism are how we have built and grown our business over the last five years, and the rebate is just icing on the cake.
The Westchester Real Estate Market
We recently expanded to Westchester, New York, to save home buyers and sellers money in more places.
The first thing the seller agent should discuss with their client is the Westchester real estate market condition in the area where the client is choosing to search for a new home. It does not matter if the client is looking for homes in Chappaqua, sales in Scarsdale, or anywhere between.
The agent should give a clear and concise summary of the current market conditions in that area to sell your home. Is it a buyer’s market, or is it a seller’s market? Also, is there a high or low inventory?
How long are properties staying on the market? This information will go a long way in setting the expectations for the buyers.
