What is a Buyer Rebate?
A Buyer Rebate is either cash/check or a closing cost credit issued to a buyer out of Uwin Realty Group's commission for the purchasing of a home using a Uwin Realty Group Agent.
Who Pays for the Services of a Buyers Agent?
Buyers do not pay us a fee or a commission for our services. Just like all other agents that represent a buyer we are paid through the seller from the Listing Brokerage total commission. When listing a home for sale the seller's broker/agent negotiates the overall commission.
Let's say this overall commission amount is 6% as an example. Whether you buy a home with or without your own buyers agent the listing agent will be paid the 6% overall commission when the home sells. If you use your own buyers agent to protect your best interest then this overall 6% commission is split between the seller's broker/agent and the buyer's broker/agent. Thus, using your own buyers agent to protect your best interest will not cost you anything or the seller any additional commission.
Are Buyer Rebates Legal?
Of course they are! Below is an excerpt from the Department of Justice website regarding real estate rebates in California.
"The Department of Justice is committed to preserving competition in the real estate industry through its competition advocacy efforts. Given that California allows real estate brokers to provide rebates to consumers and to customize their real estate service offerings to meet their customers’ needs, the Department of Justice has not advocated that California change any of its real estate laws or regulations."
