Buyers Incentive Rebate-Introduction
Our Business Model is simple:
- Make sure our clients best interests are always first and foremost.
- Take advantage of listed properties to help our buyer clients achieve incentives that other Real Estate Brokerages simply don't offer.
- Trustworthiness, Energy, and Honesty
What it all means for Buyer Clients:
The simplest example we can use is a listing contract that has a commission rate of 6% of the sales price. This is a typical commission in our area, but you will find all sorts of commission percentages as each listing is unique.
The seller hires a Real Estate broker/firm to list and market their property for sale. The seller agrees to pay the Real Estate broker 6% upon a successful sale. The Real Estate broker will place the property on the MLS and offer a portion of the 6% commission (usually half) to the Real Estate broker/agent who brings a buyer to the table. In this example, 3% of the sales price will go to the listing broker and 3% would go to The McGrady Group LLC if we were able to find a buyer for this property. This money comes from the Seller's proceeds at closing.
We then discount our commission to 2% of the final sales price and offer the remaining 1% to our clients to be used as a closing cost credit. We will rebate 1/3 of any commission earned at closing.
In this example, our client would have a BUYERS INCENTIVE equal to 1% of the sales price to apply to closing costs, inspection fees, and appraisal fees. Or, you could use the 1% to buy a prepaid mortgage interest point, which would lower your mortgage rate on the day of closing by .125. So if your interest rate was 4.00%, you would lower your interest rate to 3.875%.
In 2006, I bought my first home and I was able to secure a BUYERS INCENTIVE for myself. My $1400 of closing costs, prepaid taxes/interest, and $300 Bank Appraisal fee were all covered by a Buyers Incentive that was a discount from the Buyer's Broker/Agent commission and it was 1% of the purchase price. Essentially, all of my down payment went towards my purchase price. Without the incentive, a large portion of my down payment would have been paid to the bank just to secure my loan.
SINCE I STARTED IN 2007, I have been able to secure over $81,000 in the form of a BUYERS INCENTIVE for our clients. You can read some of the comments of past clients that have put my BUYERS INCENTIVE to work in my testimonial section.
My BUYERS INCENTIVE dramatically lowers the costs associated with securing a home mortgage compared to the industry standards. One of the most important reasons you would hire us as your agent is so that we can find you a good deal and assist you with your real estate contracts. Our job is to save you money. Our BUYERS INCENTIVE is designed to do just that!
The McGrady Group LLC