What Are the Terms and Conditions?
Rebates must be applied at the time of closing and should be included in the closing statement. If the buyer is financing the purchase with a mortgage, the lender must permit these rebates. The 2% and 2.5% rebates are based on a 3% commission structure. For properties priced under $300,000, there is a minimum broker commission: $3,000 for resale properties and $1,500 for new constructions. The 2.5% rebate on new homes applies to properties sold by sales representatives in model homes that use their own contracts, where minimal broker assistance is needed. Boutique builders using third-party listing agents will be treated as resales. Rebates may be adjusted for distressed properties, corporate listings, and scenarios where clients require numerous showings or offers. Approval from the builder is necessary for new home rebates. Please reach out for a detailed list of terms and conditions.
Are You a "Full-Service" Buyer Broker?
In some ways, yes. We operate like an economy airline, providing essential services at competitive prices without including many additional non-essential features. For resale buyers, we offer a limited number of serious showings, assistance with contracts and amendments, negotiations, final walkthroughs, and support throughout the entire process. For new construction, the builder handles showings and contracts, which is why the rebate is higher for these homes. We won’t deliver checks to the title company or sit with you at closing, but we will review your closing statement in advance and keep you organized during the process. Our clients appreciate the opportunity to save thousands at closing rather than receiving extensive hand-holding.
What If My Closing Costs Are Less Than 2% / 2.5%?
Based on our experience, closing costs for PITI mortgages on homes priced between $300,000 and $700,000 in Texas typically range from 2.7% to 3.1%, which usually exceeds both the 2% Resale Rebate and the 2.5% New Home Rebate, so this is generally not an issue. However, if a new construction builder offers additional closing cost incentives alongside our realtor rebate, this could create a concern. We recommend asking your lender for an estimate of your cash to close, including the anticipated rebate. If the expected rebate surpasses your closing costs, please inform us of the estimated excess amount as soon as possible so we can help devise solutions. We have successfully provided multiple rebates exceeding $25,000, so we can typically find a way for you to utilize the full expected rebate.