A Realtor rebate, also known as a commission rebate or buyer rebate, is a cash incentive offered by a real estate agent to their clients who are purchasing a home. Essentially, the agent offers to give a portion of their commission back to the buyer at closing as a rebate.
In a typical real estate transaction, the seller pays a commission fee to the listing agent, who then splits the fee with the buyer’s agent. The buyer’s agent may offer to rebate a portion of their commission back to the buyer as an incentive to work with them.
Realtor rebates can vary in amount, but typically range from 1-2% of the purchase price of the home. This can potentially save buyers thousands of dollars in closing costs.
Overall, a Realtor rebate can be a good option for buyers who are looking to save money on their home purchase.