Buying a Home?
Are you looking to purchase a new home or condo in Chicago? When we represent you in the purchase of any home listed on the MLS (Multiple Listing Service) and as part of our service, you will receive a check for 20% of our commission at closing from the 2.5 percent commission we get paid by the seller's agent. We will provide you with up-to-date real estate listings directly from the MLS. These are all listings used exclusively by Realtors to market homes for sale to the entire Chicago real estate industry. After you select some properties we step in to narrow your search, help you choose between properties and negotiate the purchase contract on your behalf through closing.
Home Buyer Rebate
A commission rebate, sometimes called a home buyer rebate, is when a real estate broker shares part of their commission with the home buyer. What this means is that the broker shares a percentage of their commission in exchange for the buyer saving the broker time. Where is that time saved? The internet of course. You do your research and spend countless hours browsing all the different real estate websites before making your home purchase. You have narrowed your search down to a handful of homes before you contact a real estate agent.
Yes! Home Buyer Rebates are legal in Illinois
Absolutely! Rebates are legal in Illinois and in many other states across the United States. Many people inaccurately assume that there is a “catch”. If you still aren’t a believer, click on the link straight from the U.S. Department of Justice Website and learn what the government thinks about Realtors sharing their commission with home buyers. The U.S. government thinks it’s good for the economy.
- Illinois law allow home buyers to get a rebate from a percentage of the commission the Broker receives.
- Buy a home through me and I will rebate or give you 20% of my sales commission at closing. Guarantee!
- Best of all, the IRS says all home buyer rebates of commissions by a real estate broker are NOT taxable income.
- How much would your rebate be? Scroll down below and look at Your Rebate chart.
- Home buyer rebates are paid only to buyers who have agreed to be exclusively represented by Alexander Mancini ( Chicago Condos Finder ) and who close on the home purchased with me.
- The exact rebate amount you actually receive will depend on the Net Sales Price of the home you buy and any adjustments.
Who says you can't get a Home Buyer Rebate?
Some real estate brokers or agents might tell you that rebates from an agent are not legal. They are wrong. Home Buyer Rebates are legal in Illinois. What they are really telling you is that some real estate agents in Chicago have a policy of not offering rebates to the home buyer. The United States Department of Justice allows Illinois real estate brokers to offer rebates to home buyers. You can also read more about Home Buyer Rebates by visting The United States Department of Justice website.
How do agents get paid?
It cost you the home buyer nothing when buying a MLS listed property. Agents are paid at closing from the proceeds of the transaction. Home buyers will not incur any costs or fees for our services. Home sellers will contract a listing agent who will charge a commission to sell their property. A portion of the listing agent's commission, typically 2.5 percent is offered to the buyer's agent in order to compensate for bringing a buyer to the seller. Many home sellers ask why is it that the buyer's agent fee is always 2.5%? Here's why. According to the Realtors MLS nine out of ten homes in Chicago are sold by the agent representing the home buyer. Selling your condo in Chicago? Sell your home with a Chicago real estate broker for only 3.5% Listing Commission. Get full service from start to closing.Selling a Home?