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.
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!