Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.
Throughout the United States, new practices are coming to the world of real estate. Now, there are guarantor companies, special “free rent” months in luxury communities, and now, 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. It 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.
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.
Absolutely. We decided to make an entire article about the topic that you can refer to. But the short story is that, yes, 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, and truthfully, it’s a good thing for consumers.
This tends to change from brokerage to brokerage since each brokerage 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:
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 that is done by a wide range of different groups of people. The only real “catch” is that you have to have the entire transaction go 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 are the ones earning money from the purchase.
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 like it’s the morally correct thing to do, especially since the cost of moving has gotten to an all-time high. If you want to get a rebate without sacrificing quality service, give us a call now.
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. The rebate is just icing on the cake.
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 condition of the Westchester real estate market 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 in 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 buyers market? Or is it a seller’s market? 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.