Buyer’s Refund Explained
Wise Choice Realty shares the buyer’s agent commission with their buyers.
Why, because we can and we want to. It gives us an overwhelming edge over our competition and brings far more referrals to our brokers. Buyers do more homework through the web, visit more open houses and understand far more of the whole process because of today’s online tools, and we believe they should be paid for those efforts. It is a clear win/win for Wise Choices Realty and our buyer clients.
Example: $700,000 Home Purchase
At $700,000 the Buyers agent commission at 2.5% * is $17,500.
We take $7,500 as the Wise Choices Realty flat fee and give you the remaining $10,000!
The higher sale price, the bigger the credit/refund.
We always suggest you take as much of that as possible in closing costs. You can even buy down the rate to make lower monthly payment for the life of the loan. Anything they can not use through escrow/lender for closing costs from the $10,000 we will give you in a check after we close (typically 4-5 days). If there is a check the buyer is given a 1099 form. You would be responsible for that money from the check as income and you would pay taxes on it. Any money that goes through escrow as a credit is not taxed.
That is $10,000 of the seller’s money that Wise Choices Realty gives you to make your purchase $10,000 less than any other offer from other buyers agents.
REMEMBER: We must be the first to show you the home, or we will not be able to represent you.
NOTE: *2.5% being approximate average buyer’s agent commission.