A number of clients have asked us in which areas do you see a rise of commission rebate real estate agents (say that 10x fast) and while you may think this is a new phenomena, it’s actually existed under the radar for many years. Now, agents are incorporating this historically friends and family discount directly into their business model and oftentimes their business names.
Knowledge is always power so in the past, an online, easily accessible (from a UX standpoint) directory of listings didn’t exist so agents controlled what properties were available for sale. Unless there was a huge sign in front of house, most buyers wouldn’t have the slightest idea.
Now, to go back to the original topic, the simplest answer are cities in which there are high property values, low inventory, job growth, specifically in technology/innovation, high concentration of college graduates and modern real estate development projects.Chances are if the homes are being marketed heavily online by developers and agents, savvy buyers in the area are going into the home buying process with knowledge of commission rebates.
Now, the question of whether going with a discount or rebating realtor with that discount in the name is a good idea is a different story, which we’ll tackle next time.
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