If your Realtor is not refunding you part of his or her
commission,
you are probably walking away from thousands of
dollars.
The Background on Commission Rebates
As everyone knows, housing values in
the San Francisco Bay area are continuing to skyrocket. Since
real estate agent commissions are based on a
percentage of the sale,
that means a huge paycheck for agents.
Consider the fact that a real estate agent who takes a listing
in Dallas or Cleveland probably works harder than an agent in
the SF Bay area because buyers in those cities are not lined
up with their checkbooks out the way they are in this area.
But agents in the Bay area are likely to take home a
commission check that is more than twice as much as agents in other parts of the country!
The other side to the story, however,
is that the size of these commissions is no secret.
People from all walks of life are rushing to take the real
estate exam and start cashing those big commission
checks. The California Department of Real Estate is overwhelmed
with new applications. Thousands of eager new
agents are minted each month. The result is unprecedented competition
for your real estate business.
However,
it is not fair to characterize all area real estate agents as greedy.
Recently, some agents have recognized that commissions are no
longer in line with the value of the services rendered
and have begun for refund (or rebate) a portion of
their commission to their clients.
The purpose of SFBayRebates.com is to
let you find real estate agents who offer commission rebates.
In a market like ours, rebates just plain make sense
. First they place a limit on commissions that have
become excessive and redirect some of the money to where it belongs: to
the seller and/or the buyer. Second, rebates give agents a legitimate
way to compete for your business.
Are commission rebates illegal? Against
the rules? Some people will tell you so. Our guess is that
those people tend to be real estate agents making
quite a bit of money. However, although we are not lawyers, our
examination of the California real estate law indicates
that commission rebates are completely legal and are a legitimate
way for agents to compete for your business. In
fact tthere are some brokerage companies like Ziprealty that
make rebates a standard part of their
business.
Interestingly, some other states have
tried make rebates illegal. Recently, the State of
Kentucky was sued by the Federal Government on anti-trust
grounds because of its state law prohibiting rebates. Kentucky
and the U.S. Department of Justice have now reached an agreement which allows agents in
that state to offer rebates. It looks like
commission rebates are here to stay!
In
fact by using this site, you can find a real estate agent who
will provide the highest level of professional service, while
still offering a commission rebate
.
More information about the National Trend toward
Commission Rebates
Wall Street Journal Article
Justice Dept. And FTC "Trust-Busters" Zero In
On State Real Estate Regulators (Realty
Times)
Detroit Free Press
Arcticle
California Real Estate Law (Department of Real
Estate) |
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Find an Agent who offers
commission rebates
Note: SFBayRebates.com acts only as a directory
for agents offering rebates. We are not involved in real estate
consultations or transactions in any way. Please contact the
agent directly to discuss your real estate needs.
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Commission Rebates are for both Buyers and Sellers
- If you are a seller,
you can get a rebate and/or a discount on the
commission you pay by negotiating with your agent.
- If you are a buyer, you can receive a payment from
your agent after the transaction closes. This comes
from the commission paid by the seller and can give
you thousands of dollars to get set up in your new
home.
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Cities Served by SFBayRebates.com
San
Mateo County: South San Francisco,
Daly City, Pacifica, Burlingame, Hillsborough, Millbrae, San
Bruno, Colma, Brisbane, San Mateo, Foster City, San Carlos, Redwood
City, Belmont, Redwood Shores, Menlo Park. Coastal Region: Pacifica,
Montara, Moss Beach, Princeton, Miramar, El Granada, Pescadero,
Davenport, Santa Cruz, Capitola, Aptos, Soquel, Monterey, Marina,
Pacific Grove, Pebble Beach, Carmel. San Francisco: Richmond,
Jordan Park, Laurel Heights, Lake, Sea Cliff, Lone Mountain,
Marina, Pacific Heights, Presidio Heights, Cow Hollow, Downtown,
Financial District, Nob Hill, North Beach, Russian Hill, Telegraph
Hill, North Waterfront, Golden Gate Heights, Parkside, Sunset,
Lake Shore, Merced Heights, Pine Lake, Stonestown, Lakeside, Merced
Manor, Ingleside Heights, Ingleside, Ocean View, Balboa Terrace,
Diamond Heights, Forest Hill, Forest Knolls, Ingleside Terrace,
Midtown Terrace, St. Francis Wood, Miraloma Park, Forest Hill
Extension, Sherwood Forest, Monterey Heights, Mt. Davidson Manor,
Westwood Highlands, Westwood Park, Sunnyside, West Portal, Glen
Park, Haight Ashbury, Noe Valley, Twin Peaks, Parnassus, Ziprealty,
Ashbury Heights, Buena Vista Park, Corona Heights, Clarendon
Heights, Duboce Triangle, Eureka Valley, Dolores Heights, Mission
Dolores, Anza Vista, Hayes Valley, Lower Pacific Heights, Western
Addition, Alamo Square, North Panhandle, Bernal Heights, Mission,
Potrero Hill, South Of Market (SOMA), South Beach, Central Waterfront,
Bayview, Excelsior, Portola, Silver Terrace, Mission Terrace,
Bayview Heights. Santa Clara County: Palo Alto, Los Altos, Los
Altos Hills, Mountain View, Los Gatos, San Jose, Santa Clara, Campbell,
Sunnyvale, Saratoga, Milpitas, Gilroy, Morgan Hill, Cupertino,
Monte Sereno, Alviso; Marin County: Belvedere, Tiburon, Corte
Madera, Fairfax, Larkspur, Mill Valley, Novato, Ross, Kentfield,
San Anselmo, San rafael, Sausalito, Bel Marin Keys, Bolinas,
Inverness, Marin City; Alameda County: Alameda, Albany, Berkeley,
Oakland, Fremont, Newark, Union City, Hayward, Emeryville, Sunol.
Livermore, Dublin, Pleasanton, San Leandro, Castro Valley, San
Lorenzo, Ashland, Cherryland, Fairview; Contra Costa County: Antioch,
Alamo, Bethel Island, Brentwood, Byron, Clayton, Concord, Crockett,
Danville, Discovery Bay, El Cerrito, El Sobrante, Hercules,
Kensington, Lafayette, Martinez, Moraga, Oakley, Orinda, Pacheco,
Pinole, Pittsburg, Pleasant Hill, Richmond, Rodeo, San Pablo,
San Ramon, Walnut Creek; Napa County: Napa, Angwin, Calistoga,
Rutherford, Oakville, St. Helena, Yountville; Santa Cruz County:
Santa Cruz, Aptos, Soquel, Ben Lomond, Boulder Creek, Bonny Doon,
Capitola, Ziprealty, Davenport, Felton, Freedom, Rio Del Mar, Scotts
Valley, Watsonville: Sonoma County: Sonoma, Bodega, Bodega Bay,
Cloverdale, Cordelia, Fort Ross, Fulton, Geyserville, Guerneville,
Healdsburg, Rio Vista, Santa Rosa, Sebastopol, Petaluma, Occidental;
Solano County: Fairfiled, Suisun, Vacaville, Dixon, Vallejo,
Benicia, Elmira, Rio VIsta.
No
information on this website should be construed as legal
advice.
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