Are Buyer Rebates Legal In Westchester real estate? (2025)
Go Back To Previous PageThe Westchester (NY) real estate market is booming. The most expensive purchase of your life will be your home. And it’s usually true. In most cases, your home will cost hundreds of thousands of
dollars for the house alone. As a buyer of Westchester real estate, you are also expected to pay closing costs—often several thousand dollars. Therefore, if you’re worried about finances, you’re not alone. Most new Westchester real estate home buyers are trying everything to reduce the cost of a home. After all, some pricing issues are more flexible than others. One of the things people try to pare down is the bulk of closing costs that people face when closing on a building. This concept became key in Westchester County (NY) real estate.
This is especially true of buyers’ rebates, one of the easiest ways to reduce costs or recoup some of your money.
What Is A Buyer Rebate?
A buyer rebate is a real estate term referring to a rebate offered by brokerages and real estate agents to homebuyers during the home-buying process.
This rebate enables the brokerage to return a portion of the buyer agent’s commission to the buyer.
It’s a lot like a gift in a real estate transaction that says, “Thank you for choosing me!”
1) How Do Buyer Rebates Work?
When a homebuyer buys a home, the buyer’s broker—who typically receives a 3% commission (half of the 6% commission paid by the seller)—gives a portion of that commission back to the homebuyer. The concept is rare in New York State and even rarer in the NYC suburbs, such as Westchester.
Buyer rebates work by having a predetermined percentage of the home’s commission given as a rebate. When you close on a house, the buyer’s agent
will provide you with a check for the portion of the commission that you agreed on.
You cannot receive a buyer’s rebate without purchasing the house entirely, nor can you receive it in advance. So, while you still have to spend money on a broker, the good news is that you will get that money back.
2) How Much is A Buyer’s Rebate?
Traditional real estate professionals are stuck in the old way of doing things. They fail to modernize or pass savings to homebuyers, and the few firms that provide rebates only give back a meager 0.5% to 1%. This doesn’t seem fair in an age of technology that brings costs down in every other industry.
This can vary from brokerage to brokerage. In most cases, it represents around 1 percent of a commission. However, it can be as high as 2 percent of your home price or as low as a flat fee of $500. It’s important to ask a broker how much the rebate is before you assume you’ll get a lot of cash.
3) Why Do Brokerages Offer Real Estate Buyer Commission Rebates?
Each brokerage has its reasons. Some want to show gratitude for the business, while others want to establish themselves as a
popular business in the area. They use rebates as a “leg up” to new realtors.
The reasons aren’t as important as knowing you can save money while getting quality service.
Are Buyer Rebates Legal In Westchester Real Estate?
Excellent news for people who want to save money on commission fees: Buyer rebates are legal in Westchester County real estate, which means you can return the money you spent on closing costs.
The truth is that buyer commission rebates are fully legal in all of New York State. They became legal in 2015, and there’s no sign of this stopping any time soon. Ask for a buyer’s rebate to ensure you receive the maximum benefit from your transaction.
1) Do All Westchester Brokerages Offer Buyer Rebates?
Nope, many brokerages that allow their agents to split commissions with buyers don’t advertise this. This can make it hard to find a brokerage or real estate agent willing to give you a rebate. If you want to get a rebate, by all means, it’s essential to work with a company like Nestapple.
We are proud to offer buyer commission rebates and consider it necessary to keep the entire buyer experience as rewarding as possible.
2) How Much Is Nestapple’s Buyer Commission Rebate In Westchester County real estate?
Nestapple is famous for having high buyer commission rebates in the Big Apple. Nestapple typically gets commissions between 2.5 and 3 percent. Our in-house policy is to refund you ⅔ of your commission, and you can receive up to 2 percent back on most transactions.
This is a tremendous competitive advantage for winning a bidding war in the Westchester (NY) real estate market.
Is It A Good Idea To Get A Real Estate Agent Who Offers Real Estate Rebates in Westchester?
Of course! Real estate agents and brokerages, such as NestApple, that offer rebates provide the same service as those that don’t. You sometimes
get even better service. The only difference is that you can keep some of the commission you paid to your agent.
So, why wouldn’t you want to do that? It’s a great way to treat your wallet well!
Reach out. We’d love to work for you and put money back in your pocket.
Additionally, we are well-versed in the Westchester real estate market.
