In an effort to help stabilize the housing market, the Justice Department pushes to legalize real estate commission rebates. Real estate commission rebates are way to reward either the buyer or seller with a small percentage of the realtors commission, which on an average priced American home can average a few thousand dollars going back in the pockets of the everyday consumer.
Here are just a few of the ways that you can secure a real estate rebate if you are in the market to buy or sell your home especially if that purchase is Charleston luxury real estate.
Selling Your Home Faster
When you are trying to sell your home and you have it priced to sell, many variables can affect how long it will take to connect with a buyer. If there are several homes in your area all priced around the same, a real estate rebate could help you to sell your home faster. By dropping the price lower and making it up on the end with your cash rebate, you get out of the house faster when the buyers swoop in to take advantage of the lowest priced home in your neighborhood.
Increasing the Value of the House
When you live in a very desirable neighborhood, houses sell faster than surrounding locations. This can used as an advantage for sellers looking to pocket some extra money on the sale of their homes. Speak with the real estate agent about not having to run an open house, not having to advertise, and spending less time showing the house because the minute it hits the Multiple Listing Service other realtors will be there with a line of eager buyers. Inquire about a real estate rebate based on much less work involved on the realtors part to close the deal fast.
Increased Buying Power
Although ten states currently have bans in place concerning the real estate rebates, the benefits are outweighing the negatives as more states are realizing the huge positive economic boost this process produces. Buyers who negotiate with their realtors for a portion of the commissions are able to have more buying power to purchase the homes they want with less haggling. That extra cash for the buyer allows them to easily cover expenses like closing costs, inspections, and even home repairs.
As more buyers and sellers are taking advantage of the real estate rebate, the Justice Department is taking a closer look at how all sides of these transactions are benefiting. Not only will the sellers and buyers pocket extra cash, the realtors move homes more quickly and increase their selling reputation.