DROdio Home Buyer's Rebate Program
RebateReps Frequently Asked Questions
Will I have to pay more money for a real estate agent to represent me when buying a home?
Here's how it works:
New Homes:The builder is charges a price for a newly constructed home. If you make an offer with a real estate agent at your side, the builder will pay your agent a commission (part of which we would give back to you). However, if you buy that same home without an agent, the builder will still charge you same price but you will not be eligible for a rebate. By law, the builder can only pay a commission to a licensed realtor. But you don't have to believe it from us - go ahead and call a few homebuilders and ask them if they'll pay the commission directly to you.
Resale homes:A real estate agent charges the seller 6% of the price of the home to list it. If a buyer shows up with a Real estate agent, then both agents split that 6%. However, if you show up and buy with no Realtor, the listing agent just keeps the whole 6%. The listing agent won't give you a discount. If you use us (or a Real estate agent we find you), however, our network of agents will give part of the 3% back to you.
Other Frequently Asked Questions
- My agent said it was illegal to offer rebates. Is this true?
- How can your Realtors afford to share their commission?
- I already registered with a new homebuilder. Can I still get a rebate through one of your real estate agents?
- How can RebateReps agents afford to give rebates?
- Why don't all Realtors offer rebates?
- My real estate agent said, "You get what you pay for." Will you provide me with the same level of service as a traditional agent?
- Where are you located?
- Would I be getting 'real' cash at closing?
- How do you define 'new home' and 'resale / existing home'?
- I see that you are located in Virginia, but I'm in Texas. Can I still use RebateReps?
- If the seller pays you a 3% commission, and you pay part of that back to the buyer as a rebate, then what if the seller is offering less than 3%?
- Is your firm directly affiliated with homebuilders like Pulte or Toll Brothers?
- What's the difference between a pre-approval letter and a pre-qualification letter?
- What is a HUD-1 Statement?
- Does the rebate have to be listed on the HUD-1 statement, or can it be given after closing?
- How do you make money?
- How is this all free to me as a buyer?
- I still don't get it - do I really not have to pay to use you?
- My real estate agent said, "You get what you pay for". Will you provide me with the same level of service as a traditional agent?
- Where are you located?
- Would I be getting 'real' cash at closing?
- Do I have to use a certain lender if I use you?
- Are there any states where rebates aren't legal?
- Does a rebate have to be disclosed to the seller?
- Are rebates taxable to me as the buyer?
