Home Buying Selling Refunds

The Corona Virus has been hard on all of us, so I am Giving Back to My Community Where My Family has had a Real Estate office for 34 years.

In the Picture Above, Trevor and Mandy bought a 500k home and got back $7500 from me their Buyers Agent.

Refunds that I am talking about are commission reimbursements from me as your Real Estate Agent.

Here is how it works. If you are buying a home the seller pays the buyers agent the usual 3% of the Sold Home Price.

If you are selling your home the Seller pays the buyers agent 3% and the listing agent 3%. This is the customary rate in the Dallas Area. 6% to sell your home.

IT'S IMPORTANT TO NOTE THE BUYERS NEVER PAY A PENNY OF COMMISSION THAT IS WHY IT'S SO UNUSUAL FOR A BUYER TO NOT BE REPRESENTED BY AN AGENT. IF A BUYER CALLS THE LISTING AGENT THE LISTING AGENT GETS THE FULL 6% AND YOU GET NO REPRESENTATION. DON'T EVER DO THAT TO YOURSELF

First Example you are looking for a home to purchase.

Let's use $300,000 as the final price of the home you are buying.

In a Regular Transaction, when you go to the Title Company for Closing as the Buyer. The Closing statement will say Commission to Buyers agent is $9,000 (3% of the final sales price)

How I am giving back? The closing statement will now read. Buyers agent gets $4500 ( 1.5% of the final sales price) The other $4500 will be a credit to the buyer from the buyer's agent.

Next example, you decide that you want to sell the property for $300,000.

How I am giving back? The closing statement will now read. Listing agent gets $4500 ( 1.5% of the final sales price) The other $4500 will be a credit to the seller from the listing agent.