Realtor rebate check for new house

NEW -> Contingent Buyer Assistance Program
I think agent gives more than 50% nowadays. I have purchased a new home last year and my agent gave me 75% of his commission. Everything was pretty upfront.
 
msuum said:
I think agent gives more than 50% nowadays. I have purchased a new home last year and my agent gave me 75% of his commission. Everything was pretty upfront.
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That's a nice % agent gave you. Someone like that is bound to have good relationships for regular way sales/purchases given relationship building aspect which is good to hear these days.  Have not heard of that much. Do you mind if I can get that agent's contact info as I'd like to get on the list of homes with co-op fee/rebates?  I may even use them to sell a home as well.  Many thanks!
 
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him
 
cghirvine said:
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him
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That's total weak sauce.  I bet that if you didn't text/call him, he wouldn't have ever reached out to you to give you your rebate.
 
cghirvine said:
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him
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So did you get the max rebate or not? Hah
 
bluebig said:
msuum said:
I think agent gives more than 50% nowadays. I have purchased a new home last year and my agent gave me 75% of his commission. Everything was pretty upfront.
Click to expand...

That's a nice % agent gave you. Someone like that is bound to have good relationships for regular way sales/purchases given relationship building aspect which is good to hear these days.  Have not heard of that much. Do you mind if I can get that agent's contact info as I'd like to get on the list of homes with co-op fee/rebates?  I may even use them to sell a home as well.  Many thanks!
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Just PM you the info.
 
msuum said:
bluebig said:
msuum said:
I think agent gives more than 50% nowadays. I have purchased a new home last year and my agent gave me 75% of his commission. Everything was pretty upfront.
Click to expand...

That's a nice % agent gave you. Someone like that is bound to have good relationships for regular way sales/purchases given relationship building aspect which is good to hear these days.  Have not heard of that much. Do you mind if I can get that agent's contact info as I'd like to get on the list of homes with co-op fee/rebates?  I may even use them to sell a home as well.  Many thanks!
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Just PM you the info.
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Could you please send me your agent contact as well. Thank you!
 
USCTrojanCPA said:
cghirvine said:
eyephone said:
cghirvine said:
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him
Click to expand...

So did you get the max rebate or not? Hah
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At this moment, he gave a check with no money
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Let's hope that the check doesn't bounce.
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Did you have a contract between you and that agent. That you will get x percentage?
 
cghirvine said:
He didn't even call/text to congratulate us on the closing date or afterward, completely went into silent 'til we texted and called him
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Well to be fair, he hasn?t posted much lately on TI either.  Maybe he has some personal stuff going on.

TI is crawling with realtors.  There should be a master list of rebate percentages they offer.

Dr. CA Real Estate  44.4%
USCTrojanCPA  +/- 50%
msuum?s realtor 75%
AW 88.8% ?  (Above he said double 44.4%)
Cares?
IR2?

Feel free to add/edit!
 
As someone who does real estate on the side (helping friends/family exclusively)...5% is not worth rocking the boat. 50/50 (or whatever agreed to initially) and everyone goes home happy.

Also, if you are an agent, find one where you can get paid directly from escrow. Unless the transaction is especially complicated, waiting for a broker to pay you out is lame.
 
Rebating through escrow for new construction is typically determined by the builder and their escrow company. I find new construction to have little flexibility.
 
Cares said:
Rebating through escrow for new construction is typically determined by the builder and their escrow company. I find new construction to have little flexibility.
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Pretty much every builder does not allow rebating any part of the broker coop through escrow, some even have language in their broker coop agreement that the agent will not rebate any portion of the broker coop inside or outside of escrow.  I've always given my new home buyers that rebates within days of them closing, regardless of whether I got paid by my broker of not because I don't live commission check to commission check (it's never taken longer than about a week for me to get paid by my broker after closing).
 
USCTrojanCPA said:
Cares said:
Rebating through escrow for new construction is typically determined by the builder and their escrow company. I find new construction to have little flexibility.
Click to expand...

Pretty much every builder does not allow rebating any part of the broker coop through escrow, some even have language in their broker coop agreement that the agent will not rebate any portion of the broker coop inside or outside of escrow.  I've always given my new home buyers that rebates within days of them closing, regardless of whether I got paid by my broker of not because I don't live commission check to commission check (it's never taken longer than about a week for me to get paid by my broker after closing).
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I must have gotten lucky, I've been able to get co-op passed through escrow for two new constructions (both Shea).

 
Chegg said:
USCTrojanCPA said:
Cares said:
Rebating through escrow for new construction is typically determined by the builder and their escrow company. I find new construction to have little flexibility.
Click to expand...

Pretty much every builder does not allow rebating any part of the broker coop through escrow, some even have language in their broker coop agreement that the agent will not rebate any portion of the broker coop inside or outside of escrow.  I've always given my new home buyers that rebates within days of them closing, regardless of whether I got paid by my broker of not because I don't live commission check to commission check (it's never taken longer than about a week for me to get paid by my broker after closing).
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I must have gotten lucky, I've been able to get co-op passed through escrow for two new constructions (both Shea).
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Which communities? I've done a few Shea homes and they never let me rebate through escrow.
 
Updated: After some conversations, the agent signed a 2nd check, 4.4% of rebate amount to us and we were be able to deposit those 2 checks after few days. We are not sure how/why he came up with those number, an odd ball ...
 
cghirvine said:
Updated: After some conversations, the agent signed a 2nd check, 4.4% of rebate amount to us and we were be able to deposit those 2 checks after few days. We are not sure how/why he came up with those number, an odd ball ...
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Glad to hear that everything worked out even though it took way longer than it needed to.
 
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