Frequently Asked Questions about Home Buying, Selling, and Commission Rebates
If your question isn’t answered below, please contact us directly.
Buying FAQ
What is a home buyer rebate?
A home buyer rebate is a portion of the real estate agent’s commission that is given back to the buyer. It is usually used by buyers to pay closing costs and prepays.
What can the Home Buyer Rebate be used for?
The home buyer rebate can be used to reduce closing costs, buy discount points (buy down interest rate), and any other fees that may come up. Buyers usually pay somewhere between 1% and 3% of the home’s value in closing costs.
Do I need to pay taxes on a home buyer rebate?
No. Since you receive your buyer commission rebate as a credit at closing, it is not considered taxable income.
Can I receive a home buyer rebate if I'm buying a new construction home?
Yes, absolutely. You will always receive 50% of any purchase. New home builders factor agent commissions into their pricing and do not offer discounts if you choose not to use an agent. Instead, they keep the commission for themselves. It’s in your best interest to work with a rebate agent because it’s essentially free money and free representation throughout inspections and lending.
How much will my buyer rebate be?
The amount of money you can save with a home buyer rebate varies depending on the purchase price of the home and the amount the seller is offering. Typically, sellers give 2.5-2.8% of the purchase price, and you will receive half of that back. Use the savings calculator to see what you’ll save.
Why Would You Give Up Half Your Commission? Whats The Catch?
There’s no catch! I just don’t believe it should cost 3% of the sale price to help you find your next home when the work stays the same no matter the purchase price. Since I’m not with a big-name brokerage, I get to keep 100% of my commission, which allows me to split the commission with my clients instead of my brokerage.
How Much Are Closing Costs?
Closing costs are fees and charges associated with the purchase or sale of a property. Buyers usually pay somewhere between 1% and 3% of the home’s value in closing costs. These costs typically include expenses such as appraisal fees, title insurance, taxes, attorney fees, home inspection, homeowners’ association, transfer fees, origination fees, and other related charges.
Are home buyer rebates legal?
Yes, home buyer rebates are legal in most U.S. states, but regulations regarding rebates vary by state. Some states have specific laws governing rebates, while others have no regulations at all. It’s essential to check the laws in your state and discuss any concerns with your real estate agent.
Do I need to disclose a home buyer rebate to my lender?
Yes, it’s essential to disclose any home buyer rebates to your lender, as they may affect your mortgage approval process. Lenders typically require full disclosure of all financial incentives received as part of the home purchase transaction.
Selling faq
How much do you charge to list a home?
We charge only 1% to list your home, rather than the 3% that traditional agents typically charge.
How does your 1% listing fee compare to traditional agents?
Our 1% listing fee provides the same comprehensive services as traditional agents who typically charge 3%. We ensure you receive full-service representation, including marketing, negotiations, and guidance throughout the selling process. If you have any specific needs or questions, let us know, and we’ll work to accommodate them.
Do you offer staging services?
Yes, we offer staging services for an additional fee. We work with several different staging companies and can negotiate the staging fee to best suit your needs and enhance the presentation of your home for potential buyers.
What does your listing service include? Are there any hidden fees?
You won’t find any hidden fees here. Our comprehensive service covers everything you’d expect from a top-tier agent:
We advertise your home on major platforms such as MLS, Zillow, Redfin, Trulia, Realtor.com, and many others. Professional photography ensures your home is showcased in its best light. We leverage social media to attract potential buyers effectively. You’ll receive personalized attention and expertise in pricing, negotiation, and contract management to guide you through a seamless transaction.
We advertise your home on major platforms such as MLS, Zillow, Redfin, Trulia, Realtor.com, and many others. Professional photography ensures your home is showcased in its best light. We leverage social media to attract potential buyers effectively. You’ll receive personalized attention and expertise in pricing, negotiation, and contract management to guide you through a seamless transaction.
How much can I save buying and selling?
You can save an average of $25,000 in commissions when you sell and buy with us! Save 2% on commission when you sell, and receive half of our commission (1% to 1.5%) when you buy.
Don't just take my word for it
ExcellentBased on 11 reviewsTrustindex verifies that the original source of the review is Google.Cary Reyes2024-06-16Jay was a great partner in the whole process. He had our best interest during the entire process. He was responsive and extremely helpful. Thanks to him we met all of our deadlines and made our home purchase process seamless. I’ve already recommended him to my friends and family. If you are in the Denver area Jay is your realtor person!Trustindex verifies that the original source of the review is Google.Frank Senatore2024-06-15Listing my home and buying with Jay and his team was a fantastic decision. Jay is incredibly hardworking and responsive—any question I had, he answered within minutes. Plus, his offer to list homes for 1 percent and a 50% rebate is an unbeatable deal. Highly recommend!Trustindex verifies that the original source of the review is Google.Ryan Rutherford2024-06-08Jay is the best in the biz! He is an excellent communicator, he understands the business inside and out, and answered any questions I had clearly and promptly. I would recommend him to anyone considering buying or selling.Trustindex verifies that the original source of the review is Google.Matt Hall2024-06-01I had an excellent experience working with Jay as my realtor. He made the entire process seamless and worked diligently to secure the deal I was looking for. The 50/50 rebate I received was an added bonus. I couldn’t recommend him enough and look forward to doing more business with him as I grow my portfolio!Trustindex verifies that the original source of the review is Google.Abhishek Bachu2024-04-30Working with Jay is truly amazing! Jay is always available and willing to show us properties anytime, day or night. The best part is that he splits his commission and truly cares for his clients.Trustindex verifies that the original source of the review is Google.Rutvik Ramarapu2024-04-29We are currently working with Jay and can't praise him enough for this exceptional service and financial benefit he is providing us. We didn't end up buying but will come back once rates get better.Trustindex verifies that the original source of the review is Google.Kenny Wood2024-04-29Had a great time working with Jay and his team! Always kept our best interests in mind. Was available any time I had a question.Trustindex verifies that the original source of the review is Google.Cal Rhoads2024-04-29Best Realtor in Denver, hands down! really nice business model.Trustindex verifies that the original source of the review is Google.manish avasarala2024-04-26I can't praise Jay enough for his exceptional service both before and during our transaction. Best realtor in Denver! Jay even split his commission with us, which covered most of our closing costs. Couldn't be happier with his service!"Trustindex verifies that the original source of the review is Google.Cameron Eide2024-01-31I highly recommend Jay for your real estate needs. He cares about you and what he saves you on real estate and mortgage side.
Speak With An agent
We’re here to help! Feel free to call us with any questions you have.
Looking to get pre approved? Apply here!
Got questions? Call us now: 917-717-0051