How to Make Money in Real Estate

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Making money in real estate seems to be on everyone’s mind. Whether you’re a current homeowner looking to expand your investments or a first-time buyer, it’s a good time to review the four ways you can make money from real estate.

#1: The Old-Fashioned 

Like many of our parents and grandparents, the Old-Fashioned way involves buying a house, investing in it (make necessary renovations, etc.), and hold onto it for decades.

The longer you hold onto your house, the greater chance you have for it to appreciate in market value. No matter what, if you’re planning on buying a house for yourself, plan on living in it for at least two years, but ideally at least five to seven to maximize your ROI. 

When You Won’t Make Money: In the ‘70s and ‘80s, cities in West Virginia and Montana were economic hotspots due to their mining industries. When the mines (and subsequent jobs) ran dry, so did the desire to live there. Owning in an area that could experience similar boom and bust puts you at risk.

#2: The Up-and-Coming

Buying a house in an up-and-coming city is a great way to make money in real estate. Cities like Boulder, Bozeman, and Coeur d’Alene have exploded with popularity in the past few decades. Those who bought properties years ago in cities that are now popular are looking at huge ROI when they decide to sell.

When You don’t Make Money: It’s essential to find a city that’s on the cusp of real estate greatness. However, that city’s growth needs to fit your timeline (or vice versa). No one wants to be stuck in a city they think will be popular in five years, only for it to take decades.

#3: The Fixer Upper

Flipping houses has become one of the most popular ways to make money in real estate. Lower-priced houses nearly always need a lot of work. If you’re willing to make renovations, there’s a good chance you can sell your house for more than it was originally worth, and turn a profit as a result.

When You Won’t Make Money: Costly renovations, not selling fast enough, struggling to find buyers — these scenarios affect ROI potential. Closing fast on houses might net the best deal, but skipping a home inspection can lead to costly and unplanned expenses. 

#4: The Rental

Buying a house in a popular area and renting it out is a great source of passive income. Don’t get us wrong — it’s a lot of work to be a landlord. However, it’s nice to see your home turn a profit consistently. Plus, you still get the long-term benefits of owning a house.

When You Won’t Make Money: The Rental’s success depends on your ability to find renters. Any day your house isn’t being occupied is a day you’re losing money. Invest in an area that needs rentals, like owning near a big city or close to college campuses.

No matter what option you’re considering for making money from real estate, start your journey with RealtyHive! Find vacant land to build on, international properties, residential homes, and even commercial spaces in our listings today.

The Downsides of Selling FSBO

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With real estate databases like Zillow and Trulia, it makes sense that selling for sale by owner (FSBO) became increasingly popular in recent years. FSBO is this seemingly easy way to sell your house and save money in the process.

But all that glitters is not gold, and the same is true for FSBO. Even if you’re dead set on selling FSBO, take these drawbacks into consideration.

You probably won’t make as much money.

FSBO homes usually go for less money than ones listed with a paid service, such as this home in Haines City, FL.

Most people want to skip working with a real estate agent so they can avoid paying thousands of dollars in commissions. And it’s true — going the FSBO route will eliminate those pesky fees.

But what most FSBO sellers don’t realize is that listing with an agent usually garners a higher selling price. Even after paying commissions, there’s a good chance you’d still make more money off your home sale when working with an agent. Their invaluable experience can oftentimes pay for itself.

The research is time-consuming and technical.

Properly valuing a home (such as this 4-bedroom) requires a lot of work.

From big things to tiny details, the amount FSBO sellers need to know is practically endless. Here are just some of the things you’ll need to research and/or create:

  • Comps: What other homes in your area are selling for. Be warned — just checking Zillow is not enough. You’ll likely have to speak to a county clerk to find comps (comparable prices).
  • Listing Price: Figuring out how much your house is worth is one of the most difficult parts of selling by yourself.
  • Disclosure Statement: Most states require sellers to provide a document indicating issues with the house (such as radon, structural problems, etc.).

Be prepared to handle even more details and responsibilities when selling FSBO.

Negotiations can be exhausting and difficult.

Back-and-forth negotiations can make selling even the most beautiful of homes extremely stressful.

Some people thrive in negotiations, others prefer to let an expert deal with it. Considering most sellers are not real estate experts or agents, even the most confident negotiators struggle to get the best price.

Unlike something you’re selling at a garage sale, your house is possibly the biggest investment you’ll ever make. Sentimental attachments, lack of real estate experience, and inability to handle negotiations can result in losing money — or even losing the sale.

Marketing is more than just listing your house.

It’s tough to market certain properties, especially international abodes like this Spanish home.

Selling your house isn’t just taking pictures on your iPhone and posting on Zillow. You need professional photos and a way to truly get your property out there. In big cities, your online house listing will be a dime a dozen. In smaller areas that are just outside of cities, your house could easily get overlooked and lost in the shuffle. 

You could have the best house in the world, but if it’s not properly marketed, it won’t sell. 

One small mistake can cost you a fortune.

Whether it’s a modest 2-bedroom or a luxurious 4-bed, 3-bath, no one wants lose money on their property.

From signing agreements to preparing closing documents, the number of legal documents and paperwork to go through is a lot. If you’re not extremely careful (and knowledgeable), you could lose a lot of money. Even if you still don’t want to work with a real estate agent, you should, at the very least, hire a lawyer to help you go through documents.

RealtyHive: A Better Solution Than FSBO

Don’t want to work with an agent and pay commissions? You don’t have to! Decide you want someone to help? We’ll help you find an agent! Want to skip showings and sell as-is? By all means! RealtyHive takes care of the marketing, listing price, the time-limited event, and can even help you get money back at closing, all thanks to Cashifyd.

FSBO is definitely an option, and for some people, it works just fine. But if you don’t want to take your chances at such a massive sale, let RealtyHive make selling your house easier than ever. List with RH today!

Why “We Buy Houses for Cash” Is a Bad Idea

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Who hasn’t seen one of those “We Buy Houses for Cash” billboards or commercials? Selling your house for cash might sound enticing — especially if you’re worried about selling — but as Admiral Akbar says…

via GIPHY

Here are just some of the reasons you want to avoid the “We Buy Houses for Cash” schemes at all costs.

They’re not what they sound like.

As appealing as it might seem to get a bunch of upfront cash for your house, “We Buy Houses for Cash” doesn’t work like that. Due to anti-money laundering rules, no one will legally buy a house for cash. If you’re expecting a mob movie-style suitcase full of hundreds, you’ll be out of luck.

Some people are encouraged by the WBHFC format for its non-traced transaction, but more than anything, most people going this route are in it for a fast close. Unfortunately, this speed comes at a price.

They target people in desperate situations.

The sense of urgency in a WBHFC scheme is intentional. It’s designed for people in dire financial situations — such as struggling to afford their mortgage or needing to quickly sell their house.

Being in this kind of situation is super scary, but WBHFC is not the answer. Fortunately, there are much better options out there (we’ll get to that in just a minute).

They can be surprisingly picky about what they’ll buy.

While many WBHFC schemes pride themselves on buying a house “as-is,” this isn’t always the case. Most are actually very picky about what they’ll take. Houses might not qualify, or WBHFC companies will make it seem like they’re doing the seller a huge favor and significantly lower the buying price.

Additionally, commercial properties or land usually don’t qualify. 

They buy houses for much less than they’re worth.

If it seems too good to be true, it probably is. Quick closing, buying “ugly houses” — these WBHFC “benefits” come at a price. More than anything, sellers won’t get nearly as much as their home as valued. WBHFC often buys for 30 to 50 percent less than a home’s market value.

While some might be willing to cut their losses, sell their house for cash, and lose money for the sake of time, there are much better alternatives. A time-limited event through RealtyHive is best for selling, and here’s why:

In the real estate world, “We Buy Houses For Cash” are part of the dark side. Choose the Force, and listen to Admiral Akbar — he’d tell you to go for RealtyHive for a safer and advantageous home sale.

Bigger Energy Efficiency Upgrades

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It ain’t easy being green, but with these bigger eco-friendly upgrades, it’s absolutely worth it. Each of these upgrades is an investment that requires a lot of up-front cash. However, the long-term benefits and savings from practicing energy efficiency adds tons of value to your home, your wallet, and the world.

Energy-Efficient Appliances

From washers to dryers to dishwashers and even water heaters, there’s no short supply of energy-efficient appliances you can upgrade to. Certified Energy Star appliances cost anywhere from several hundred to a few thousand dollars, depending on the appliance.

If that feels like too much money, don’t sweat just yet. You can find and mail in Energy Star rebates that can save you hundreds of dollars. Within a few years, the savings from switching to energy-efficient appliances will pay off your initial costs.

Solar Panels

It’s a myth that solar panels only work in sunny places. On average, solar panels cost between $11,000 and $15,000 (though this depends on the size of the house and what state you’re in). 

This is a huge investment, but the 20-year savings range from $11,000 to $45,000. Plus, with net metering, any extra energy generated that isn’t used goes towards a credit on your electric bill. You can even sell your unused energy back to the utilities company.

Geothermal Heating

Installed underground, geothermal heat pumps (GHPs) are even more expensive than solar panels — usually at least $20,000, though rebates can save you around $5,000. Luckily, the savings are even higher than the initial costs.

On average, the payback time (the time it takes for your savings to match your spending) for GHP installation is 5 to 7 years. Not to mention, most GHP warranties are for 50 years and repairs are rarely needed. 

Considering heating and cooling costs (as well as the cost of HVAC repairs and replacements), GHPs are worth their weight in gold.

RealQuick: When should I not add these energy efficient upgrades?

Moving in 5-10 years or less. Solar panel savings really take effect after 20 years. GHPs and energy efficient appliances take several years as well. If you’re planning on moving in the next 5-10 years (or sooner), you may want to rethink these energy efficiency upgrades.

Buying, not building. For GHPs in particular, it can cost much more to install if you already bought a house. While the savings might still be worth it, it’s better to add GHPs to a house you’re building, if you can.

Working appliances. Appliances don’t last forever, and they are expensive. If your appliances are working well, there’s really no need to ditch them and spend the money for something new. Granted, you can always sell your current appliances if you’re deadset on something more eco-friendly to offset costs.

An eco-friendly house is expensive at first, but it can massively help your finances in the long run. Not to mention, an eco-friendly house is a top commodity on the real estate market. Making these investments adds tremendous value to your home when you’re ready to sell, and when that day comes, RealtyHive is ready to help. Put your eco-friendly home for sale with a RealtyHive time-limited event today!

How to Make Your Home More Energy Efficient

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Saving the environment is on everyone’s minds. Taking the time to make your home energy efficient not only helps the planet, but it lessens the costs of being a homeowner. Find out how you can improve your home’s performance with these energy efficient upgrades.

real quick: How does using less energy make a difference?

We all know that using less gas and other eco-friendly measures help the environment, but how?

Imagine a jar of flour. Once you’re out of the flour, you need more. At first you can just walk to the grocery store, but soon the store is out of flour, and soon after that you need to drive further and further away to find some.

If you use all the flour at once, you’ll suddenly have to drive hours to get some. This will cost you gas money and take lots of time. You’d be upset if you found your kids playing with it — not only is it messy, but in this scenario, it’s wasteful. You would only use flour when you really needed it.

Energy is similar to flour.

Most of our energy resources are nonrenewable. When we run out of fossil fuels, we will have no more left. Unlike flour, however, fossil fuels are bad for the environment.

When we’re unaware of our energy consumption, we end up wasting precious resources. This not only causes unnecessary damage, but it also means more energy is needed to produce and transport energy.

Being as energy efficient as possible makes a difference for the planet by consuming fewer resources. It also makes a difference in our wallet — homeowners can save more than $1,000 every year with some of these simple changes.

Replace your lightbulbs.

Compact fluorescent light bulbs (CFLs) are 75 percent more efficient and last six times as long as regular light bulbs. CFLs save you money with their energy efficiency, but the savings don’t stop there. Since they last longer, you save money by not having to buy new bulbs as frequently.

Homeowner Savings: Up to $200 a year.

Get a power strip.

Did you know that even when you turn off electronics, they still draw energy if they’re plugged in? This costs homeowners about $100 a year by keeping things plugged in. 

Get a power strip with a switch, and get in the habit of turning it off (or unplugging it). Since you don’t use your TV, game console, or other electronics during the day or late at night, you could save a lot with this simple step.

Homeowner Savings: Up to $100 a year.

Install a ceiling fan.

It’s common for most people to turn on the AC when it’s hot (and if you’re in Arizona, California, or another warm state, we don’t blame you). But using a ceiling fan instead of an air conditioner can save money and use much less energy.

Ceiling fans often come with switches that change the room’s airflow direction. Even in the winter, a fan can help warm a room, meaning you can rely on your home’s heating less.

Homeowner Savings: AC costs an average of $.36 per hour, and ceiling fans cost $.01 per hour. Use fans only when you’re in the room since fans only cool you, not the room.

Insulate your windows.

Double pane windows are expensive — usually anywhere from $100 to $1,000 per window — but they are a great form of insulation and prevent air leakage.

However, an even cheaper option can still help you save. Purchase window insulation kits (typically less than $15) and apply them to your windows in fall. Insulating your windows means your heating systems don’t have to work as hard to function.

Homeowner Savings: Some estimates show $20 per year, per window.

When you’re ready to sell your home, these smaller changes have a lasting impact and make your home more desirable to buyers. Put your eco-friendly home on the market with a RealtyHive time-limited event, and see results sooner.

Post-Move Checklist

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Congrats on moving into your new home! As exciting (and exhausting) as it is to get into your new place, the craziness of moving isn’t over just yet. Don’t forget these important post-move details that are essential to settling in.

Switch Utilities

Before you move out of your old place, call the electric and internet company (and any other utility companies as needed). Let them know that you’re moving out and when. If you’re not moving far, you’ll likely transfer over all utilities to your new address. 

Moving to a new city or state? The energy company will need your new address as well to forward any remaining bills (or money that they owe you).

Update Address

There are three main entities that need your updated address:

Post Office

No need to go to the post office in person — you can update your address online. It will take no more than a few minutes and there might be a small fee (usually a dollar). Forwarding your mail ahead of time ensures nothing gets lost in the post-move shuffle. Updating your request with the USPS® is easy to do. Just follow MYMOVE’s simple steps.

DMV

Update your address on your driver’s license if you’re still in the state. In some states, you might need to update your license plates as well. Check with your local DMV for answers.

Moving out of the state means updating your license and plates, and sometimes getting an emissions test. If you own your car (as in, you don’t have a loan payment), you might want to transfer your title over as well. Do this within the first month that you move in. You could get ticketed for moving to a new state and not updating your plates fast enough.

Bank

Luckily, this is another instance where you can change your address online. If you have online banking set up, update your address online — for both your checking/savings account and credit card(s). This is especially crucial for people moving out of their zip code — the last thing you want is dealing with a declined card at the grocery store or gas station — but everyone should change their address with their bank.

Contact Insurance

You should have already talked to your insurance company in the buying process, but once you’ve got the house, let them know the deal went through.

If you didn’t buy a house, talk to your agent about transferring over renter’s insurance. Many landlords will make proof of renter’s insurance a condition of you moving in.

Transfer Internet and Streaming Services

Nights or weeks without Netflix and Hulu? No way! Transfer each of your streaming services to your new address — it’s usually pretty simple. Hulu allows up to four location changes in a 12-month period, so you shouldn’t have any issues.

Internet can be a bit more tricky. If staying in range of your current provider, call the company to help you transfer over your services. Out-of-range movers will need to cancel their internet, return any modems as necessary, and set up a new service.

RealQuick: Out-of-State Moving Hacks

Moving out of state can be quite the hassle. We’ve compiled some tips to make the transition easier.

  • Moving for a new job? Track every expense from gas mileage to moving vans. You can get a tax credit for doing so. Similarly, even if you don’t move for a job but traveled for a job interview, record your expenses for tax season.
  • Don’t know anyone? That’s pretty common for people moving out of state. If you’re in or near a city, use Meetup to join groups of people with similar interests. There are Meetups for everything from running clubs to learning how to draw anime!
  • Not taking any furniture? Wait on buying if you can. Once you change your address, you’ll usually be sent coupons for furniture stores in the area that can help you save.

Whether you’re ready to buy a new home or sell your current home, RealtyHive is here to help. We make the buying and selling process easy with our time-limited events, meaning you can focus more on getting settled in. Look through our listings today!

Fall Home Maintenance Checklist

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Performing fall maintenance around your home can do everything from saving money on energy bills to keeping you comfortable in the colder months. Whether your winters are in sunny Scottsdale or wickedly cold Wisconsin, there are a number of things homeowners need to do each fall to prepare for winter. 

Check your heating and fireplace.

Fall is a great time to change out your furnace filters, check your thermostat batteries, and schedule an HVAC check. Have a professional look at your home’s heating once a year — preferably well before you need to start using it — to ensure everything’s in order. Also, insulate your ductwork to help your HVAC systems run more efficiently.

Additionally, your fall home maintenance shouldn‘t skip over the fireplace and chimney. Have your chimney swept and looked at by a professional once a year. Clean the blower (if there is one), make sure the damper is working, and check the pilot on a gas fireplace. 

Close-up outdoor spaces.

Unless you’re living in one of those warm winter places that the rest of us envy, your outdoor spaces should be cleaned up and put away. Put covers on the grill, bring in patio furniture, and close up your pool by blowing water out of the pump to prevent damage from freezing temps.

While winterizing your home on the outside, it’s a good idea to clean your gutters. Winter snow and ice can lead to blockage in your gutters when there’s excess debris.

Consider making some upgrades.

Buying a new furnace is enough to make any homeowner cringe. However, there are a couple of moderate home improvements and upgrades that could lower your costs:

Energy-Efficient Upgrades for Your Home

  1. Get a programmable thermostat.

    EnergyStar estimates you can save up to $180 a year, just from updating your thermostat.

  2. Switch to double pane windows.

    Double pane windows pay for themselves after a few years, helping you save thousands in the long run.

  3. Update appliances to be energy efficient

    It might seem like we’re doubling back, but energy efficient appliances make a huge difference, for your home, your wallet, and the environment. Plus, you can get a 10% tax credit for making the switch.

Stock up on winter inventory.

Even the southern states can get ice storms! Especially if you’re a first-time homeowner, ensure you’ve got a good shovel, a bag of salt, work gloves, snow boots, and anything else needed to deal with storms, both errant and expected.

Check for drafts.

No home is perfectly sealed. When cold air leaks in and warm air leaks out, your heating has to work a lot harder — and you have to pay more on your energy bill. Insulate

Fall home maintenance is a lot to deal with, even for the most experienced of homeowners. Feel like there’s too much maintenance needed on your home? Sell through a time-limited event with RealtyHive! From selling homes quick and easy to helping you find your dream home, RealtyHive does it all.

Staging a Home for Sale: The Bathroom

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Like your home’s heating and the weather, we only think twice about a bathroom when something’s off. When you’re getting ready to stage your home for sale, the bathroom is a room that surprisingly gets overlooked. Make sure your bathroom is set to shine with these staging tips!

Thoroughly clean.

Bathrooms are hardly the focus point of a showing, but a gross and dirty bathroom is off-putting — enough so that a buyer might lose interest.

The first step to preparing your bathroom for staging is to deep clean. Scrub the tub and toilet, wipe down surfaces, sweep and mop, and take care of the mirror. Remember that any spot you miss will be an immediate eyesore and attention grabber — even if your bathroom isn’t the highlight of your home, it must look spotless.

Update your shower curtain, towels, and bathmats.

At the very least, if you’re going to put out clean towels and bathmats, make sure they’re clean and look great. Updating to some cute decor is an inexpensive way to improve the look of your bathroom. While things don’t have to exactly match, make sure that your colors and patterns complement each other.

Shower curtain looking a bit dingy? Use this as an opportunity to upgrade. A beautiful, pristine bathroom with a shower curtain that has seen better days is guaranteed to lessen the room’s look.

Focus on lighting.

Before staging for photographs or hosting an open house, make sure all lightbulbs are working. But even if they are functioning, consider changing them out — good lighting is the key to a good photo. 

Since most bathrooms don’t have access to natural light, brighter bulbs or warm-light bulbs can showcase this room better. If you’re taking pictures of the bathroom yourself, consider moving a lamp just outside the bathroom to get better lighting.

Highlight the best features.

It’s OK if your bathroom doesn’t have a gorgeous clawfoot tub or rain shower head. But if there is a standout feature of your bathroom, now’s the time to show it off! Shine a light (and in some cases, literally) on those amazing aspects of your bathroom.

Declutter the space.

An extra mirror or piece of artwork on the wall can enhance your bathroom’s look. Pictures of your family, makeup and shaving kits left out on the counter, and dirty laundry on the floor will do the exact opposite. 

Make sure you clear off everything before taking photos. A good rule of thumb, think of how you would want the bathroom to look if your in-laws were coming over (though we guess maybe in some instances, that advice might backfire).

Make any necessary fixes.

A leaky faucet, a toilet that regularly clogs — these aren’t things you want to deal with or have showing when it comes to showings and home inspections. Even if these minor issues won’t show up in staging photos, it’s better to take care of them sooner rather than later.

As one homebuyer recently said, “I went to a showing on a house that was kind of gross, but okay. Then I went into the bathroom. The toilet was filled with black sludge. I was horrified.” Needless to say, she passed on the house. 

Don’t let this be the case for your home sale! As minor as a bathroom might seem, it’s an important detail of your home that truly can break (or even make) your potential to sell. If you want to sell fast, good staging is the place to start — but so is selling with RealtyHive. Work with us for a fast and easy time-limited event today!

Is it Better to Build or Buy a House?

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To build or to buy — that is the question. Both options have their draws and flaws, and figuring out the right option for you is crucial in the homebuying process. Our real estate blog is here to help you make this tough decision a little easier.

If you want to customize everything…

Building is a better option for you. It’s not impossible to renovate a house into your dream home, but it could be more expensive than just starting from scratch. The median home in the US costs $229,000 and adding on renovations only increases that price. An important rule of thumb: The more you want to change about an existing home, the more you’re going to pay.

If you want to save money upfront…

This is a bit of a toss-up, but the short answer is that buying will likely be cheaper.

As mentioned, the median home price is $229k. The average cost to build a house is $290,000. The variances from region to region are massive, but on the whole, building is known to cost more.

When new build homes are cheaper

In rural areas, it’s usually cheaper to buy a plot of land and build on it — as long as the house you’re building is on the modest side. If you build a 1- to 2-bedroom house on a plot of rural land, there’s a good chance you’ll save money compared to buying a house in the nearest city.

If you want to move in faster…

Buying will almost certainly be quicker. The closing process on buying a home can take around 35 to 45 days. While that feels like a long time (especially to the homebuyers ready to move in!), a 2014 survey showed that building a house took an average of 7 months. If you’re itching to get into your new home, building is not the way to go.

If you want to flip or rent out a property…

You’ll want to buy. In the time it takes to build a house, you could already have closed on an existing home, made the necessary renovations, and have tenants paying you rent. Time is money, and the time it takes to build will cost you way too much. 

As a property flipper or rental property owner, you obviously want to make money. Nine times out of 10, buying will be a better investment with more immediate and visible ROI.

If you want an eco-friendly house…

This one is also a toss-up, but either way, good for you for thinking about your environmental impact!

If you build a house, you can make it eco-friendly from the start, installing things like solar panels and geothermal heating. Everything from the building material to the types of windows you install can make a difference for your home. Depending on how eco-friendly you want to go, there’s a chance you could save money by building in these measures instead of replacing things in an existing home.

Buying a house and trying to make it eco-friendly can have its limits. However, buying a home means you’re not disrupting the land, nor using new materials. Creating those new materials and transporting them uses energy, and also leads to more things in landfills. 

Ultimately, there’s much less of an environmental impact to buy a home and outfit it with some green renovations. But since building homes is still necessary, you could take the opportunity to create a house that’s highly sustainable. In some instances, these homes practically pay for themselves. 

No matter the route you go, you’re bound to help the environment and add immense value to your home.

If you’re looking for a solid home that’s built to last…

You’ll probably want to buy. Home inspections tell a lot about how well a house functions. If you put in an offer on a home (including a contingency about the results of an inspection) and find out it’s got issues, you can turn it down. If something goes wrong while building, you’re stuck with it.

That’s not to say building issues can’t be resolved, but it’s really stressful to find the right contractors for the job. Not wanting to deal with the stress of creating a home? Look for a solid, sturdy, existing home that people have already lived in and loved.

No matter whether you build or buy, with RealtyHive, you’ve got options. We’ve got plenty of beautiful and reliable existing homes to choose from! What’s more, we sell land so you can build your dream house — and we have an in-house building company that you can trust. You can find a home or plot that’s in development and add on customizations as you like. Start buying or building your beautiful new home with RealtyHive today!

Rebates for Homebuyers (And Sellers!)

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It’s tough and competitive to be a real estate agent. In most states, agents try to set themselves apart from their competition by offering real estate rebates to potential homebuyers. Find out how rebates work, and how our new Cashifyd app can help buyers and sellers alike.

What are real estate rebates?

Real estate rebates are incentives, usually monetary in some way, that agents offer homebuyers who choose to work with them. This might be cash back after closing (usually up to 1% back from the broker), a gift card, or some other type of gift.

Are rebates hurting consumers?

The Justice Department did a study on this very topic. They found that rebates are actually helping consumers because it’s saving them money on such a huge investment. Even a little bit of savings can go a long way.

Can anyone get a real estate rebate?

No. There are nine states that do not permit rebates. Rebates are prohibited in Alabama, Alaska, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Oregon, and Tennessee. Iowa doesn’t allow rebates when two or more brokers are used

Traditionally, rebates are only for homebuyers. Sellers have to pay commission for real estate agents, so they could try to negotiate paying a lower commission. But this isn’t exactly a rebate or incentive for sellers — they’re just paying less money.

However, rebates are about to change and include sellers as well. That’s because RealtyHive is introducing Cashifyd, the only app that allows buyers and sellers to get cash back on a home sale.

Make Yourself the Middleman With Cashifyd

Cashifyd is a self-referral marketplace — the first and only of its kind. 

  • If you are a seller looking for an agent, you’ll still pay for their commission. The difference is that by looking for agents through Cashifyd, you’ll actually get money back.
  • If you’re a buyer looking for an agent, you’ll receive a referral rebate when working with Cashifyd.
  • If you’re an agent on Cashifyd, you only pay referral fees when sales happen. No more having to pay big real estate databases for leads that lead nowhere.

How do Cashifyd rebates work?

Other real estate rebate programs have it where you only get cash back if it’s a house that a particular site or company is selling (or helping you buy). In other instances, you might only get a rebate by working with a specific agent.

With Cashifyd, rebates apply for any property and almost any agent — we say “almost” only because the agent has to agree to partake in this. But as of this blog post, we haven’t had anyone say no!

Cashifyd rebates do not work in those aforementioned nine states, but otherwise can be used around the world. Even buying an international property could land you a referral rebate! And as mentioned, this is the only option for sellers to get a rebate, too.

RealtyHive strives to make buying and selling a better experience for all. Get ready for the Cashifyd launch, and start saving money on your next home sale or investment!