Why You Want a Commission Rebate When Buying Real Estate in Miami or Coral Gables

posted on January 20th, 2010 filed under: Real Estate News

What is a commission rebate, and why do you want one when buying real estate in Miami or Coral Gables?

What It Is. A commission rebate is money that a buyer’s real estate broker gives to a buyer from the commission that the buyer’s broker earns in a transaction.

Why You Want It. To borrow a quotation from my tattered old Things I Learned at Harvard Law School t-shirt: “You always want more money, not less money.”  Seriously.  If one broker offers you a large pile of money and the other does not, what is there to think about?

How much money are we talking about?  Most listings in the Miami and Coral Gables market offer a buyer’s broker about 3% (half of the 6% that most large brokerages charge sellers to list property).

How would you like 1.5% back as a rebate when you buy a home in Miami or Coral Gables?

  • $7,500 if you purchase a $500,000 home
  • $15,000 if you purchase a $1 million home
  • $75,000 if you purchase a $5 million home

Too good to be true?

No, just progress.  Commission rebates are relatively new to the competitive landscape of real estate.  Most buyers don’t know better.

You do.

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posted by // This entry was posted on Wednesday, January 20th, 2010 at 9:53 am and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.

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