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Frequently asked questions;
How does it work?
It’s really simple. When you use Realty Broker Direct as your Buyer Broker to buy, you’ll earn a cash rebate equal to 20% of the agent’s commission paid by the seller. The money is yours, apply it towards closing costs, or take the cash outright! It’s your option.
Why do you offer a rebate?
We offer rebates to attract business. While other brokers pay 3rd party referral companies and relocation companies fees for leads, we prefer to go right to the consumer. Consumers have a many choices in real estate representation. We believe that we offer the best choice. Instead of paying 3rd party companies, we pay the consumer directly for their business. We get more business, the consumer saves money. But more importantly, we offer expert Buyer Broker representation. It's a WIN-WIN-WIN!
Is the rebate legal?
Yes, it is completely legal in Pennsylvania where we practice.
Can we use our rebate for closing costs?
Yes, most mortgage lenders will approve. Ask your lender if they allow commission rebates when you apply for a mortgage pre-approval. We require a mortgage pre-approval BEFORE we show you any properties.
How is the amount of the rebate calculated?
For a simple calculation the rebate will be 20% of the buyer agent share of the commission collected by Realty Broker Direct. It doesn't just sound to good to be true, IT IS TRUE! i.e. sale price $300,000 x 3% buyer broker fee x 20% = $1800.00 rebate to the buyer! There is a minimum net Broker fee of $3750.00 for all transactions.
Who pays the Buyer Broker commission fee?
At Realty Broker Direct we collect our fee from the sellers listing broker or sometimes direct from the seller. Unlike many brokers we don't charge our buyers any additional service fees. But in reality the buyer is indirectly paying the broker fee through the purchase transaction. Consider this, if there wasn't a buyer for the property there wouldn't be a sale, and there wouldn't be sale proceeds to pay the broker. Therefore, the buyers purchase offer provides the funds to pay the broker fee. This is an accepted reality within the real estate community, though rarely discussed in public forums.
If I list with you will my house be listed in the MLS?
Yes. Over 80% of all properties are sold through an MLS. We are members of TReND MLS that serves the Greater Delaware Valley Region. TReND has over 25,000 members. All of our listings are listed in the TReND MLS system, as well as, various other websites such as, REALTOR.com, Trulia.com, Zillow.com, Homes.com, other local TReND member brokers and many more! The MLS is the largest source for sales results. Your property will receive vast internet exposure.
Will I be locked in to a long term contract?
No, our contracts may be cancelled at any time with 7 days written notice. The 7 days notice is needed to unwind our marketing and internet applications.
What is the difference between a Broker and an agent?
A real estate agent holds a salesperson's real estate license which is easily obtained by completing 2 basic introductory real estate courses and passing a State exam. A real estate Broker license requires years of experience, many completed transactions, many more real estate courses and the passing of a more comprehensive State Broker exam. Less than 15% of Pennsylvania Realtors hold a Brokers license.
Will I get a lower sale price if I list with a "Discount" Broker?
We don't consider ourselves to be a discount broker. While we may offer lower fees than many brokers, there is no set fee in Pennsylvania. In Pennsylvania real estate commissions are negotiable by State law. But consider this, buyers often use the same available sales data to make purchase offers as sellers use to determine a listing price. Therefore, buyers offers are often based on the same comparable sales data used to determine a list price. The bottom line is that we will help you get the highest price possible from the market.
Do large National franchised brokers create more value for my home?
As a home buyer, would you pay more for a house just because it is listed with a certain brokerage? Of course you wouldn't. Nor would today's informed buyers. Value is determined by the marketplace, not by a brokers agent. Our direct business model and effective marketing results in tremendous savings & success for our clients. It's a simple new system.