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NEW HOME REBATE QUESTIONS:
- WHAT IS A NEW HOME REBATE?
- HOW MUCH IS THE REBATE ON NEW CONSTRUCTION HOMES?
- WHAT STEPS ARE NEEDED BEFORE VISITING NEW HOME BUILDERS?
- CAN WE VISIT NEW HOMES WITHOUT YOU?
- DOES THE BUILDER GIVE ME THE SAME PRICE & INCENTIVES IF I REPRESENT MYSELF?
- WHAT IF MY REBATE EXCEEDS MY CLOSING COSTS?
- WHAT IF I ALREADY VISITED THE NEW HOME BUILDER?
RESALE HOME REBATE QUESTIONS:
- CAN’T I DEAL WITH THE NEW HOME LISTING AGENT DIRECTLY?
- WHAT ARE THE QUALIFICATIONS & REBATE AMOUNT FOR RESALE HOMES?
- WHAT ARE THE STEPS NEEDED TO MAKE SURE I RECEIVE MY RESALE HOME REBATE?
GENERAL QUESTIONS:
- WHERE DOES HOME REBATE NEVADA OPERATE?
- WHEN AND HOW WILL I RECEIVE MY REBATE?
- DO I NEED TO INFORM THE BUILDER AND LENDER THAT I’M RECEIVING A REBATE?
- WHERE CAN I RESEARCH NEW AND RESALE HOMES ONLINE?
- ARE WE A FULL-SERVICE REAL ESTATE AGENCY?
- WHAT ABOUT REAL ESTATE COMPANIES THAT OFFER LARGE REBATES?
- “TERMS AND CONDITIONS”
NEW HOME REBATE QUESTIONS:
1. WHAT IS A NEW HOME REBATE?
A few Realtors in Nevada compete for your business by sharing their commissions with Real Estate buyers. In Nevada, a Realtor can share their commission, but in nine states, it is legally unacceptable for Realtors to offer refunds. This inflates property prices and reduces competition in the market. However, the US Department of Justice allows real estate agents in Nevada and 41 other states to give their clients rebates.
What are Home Rebates?
A New Home Rebate is a type of discount your realtor offers you directly from their commissions. In a home rebate, your realtor forgoes a percentage of their commission to share with the buyer. This is a strategy a small number of realtors use to differentiate themselves from the competition and increase their clientele. For example, on the purchase price of new homes in Las Vegas under $ 200,000 and over 200k, including homes in Henderson and North Las Vegas, I will share up to 80% of my commission received from the new home builder. This savings can be used for upgrades or towards closing costs. If you are paying cash, you can receive a check after closing.
What is the rebate amount for pre-owned or re-ale homes?
Sharing Commissions on resale or pre-owned homes are as follows: I will share up to 50% -80% of the commission received from the seller with the buyer.
NO LIMIT ON THE AMOUNT OF REBATE AND PURCHASE PRICE OF THE HOME. THE COMMISSION AMOUNT IS BASED ON THE CO-OP PERCENTAGE TO THE BUYER’S AGENT AND THE COMMISSION AMOUNT RECEIVED FROM THE SELLER AT CLOSING.
New Home Rebates in Nevada
Most of the best home builders in Las Vegas, Henderson, or North Las Vegas offer a 3% commission to the buyer’s agent.
WHY ARE THERE A SMALL NUMBER OF REALTORS WILLING TO SHARE THEIR COMMISSIONS? THE MAJORITY OF AGENTS WORK FOR LARGE COMPANIES AND HAVE TO SHARE THEIR COMMISSIONS WITH THEIR COMPANY. I WOULD RATHER SHARE MY COMMISSIONS WITH YOU! I OFFER THE LARGEST NEW HOME REBATE IN THE LAS VEGAS VALLEY. THERE IS NO LIMIT ON THE PRICE OF THE NEW OR RESALE HOME ON THE AMOUNT OF REBATE YOU CAN RECEIVE!
YOUR NEW HOME REBATE WILL NOT PREVENT YOU FROM RECEIVING ANY INCENTIVES FROM ONE OF THE BEST HOME BUILDERS IN LAS VEGAS, HENDERSON, OR NORTH LAS VEGAS. Having me represent you as your agent when buying a new home can save you a lot of money. I give you the largest rebate on new homes in Nevada, which is up to 50%—80 % of my commission that the builder pays. You will NOT LOSE ANY DISCOUNTS, UPGRADES, OR SPECIAL INCENTIVES WHEN RECEIVING MY REBATE.
We ensure you get all the incentives, rate buy-downs, and other discounts on new construction. We advocate if you encounter any problems regarding purchasing your new home. We offer the largest rebates on purchases of new homes in Las Vegas under $200K or over $ 200,000. THERE IS NO LIMIT ON THE PURCHASE PRICE OF YOUR NEW HOME OR THE AMOUNT OF REBATE YOU CAN RECEIVE.
2. HOW MUCH IS THE REBATE ON NEW CONSTRUCTION HOMES?
I will share UP 50% to 80% commission on the base price of the home I receive from the Seller with the BUYER as a credit to the BUYER on the Final Closing Statement on the sale of a new home in the Las Vegas Valley or anywhere in Nevada.
This also includes any promotional pricing, discounts, closing credits, free alternatives, improvements, or other incentives that the best home builders in Las Vegas, Henderson, and North Las Vegas might provide during your purchase.
Home Rebates are legal and permitted in Nevada by the Nevada Real Estate Commission, including the Department of Justice. They can be utilized to pay closing costs, improvements, lot premiums, buy down the price of the home, or buy down the interest rate. We can also cut you a check after closing with lender consent, which you are allowed to use for whatever you desire!
Please call me so I can pre-register you with the best home builders in Las Vegas, Henderson, and North Las Vegas
YOU MUST CONTACT ME FIRST BEFORE VISITING ANY NEW HOME BUILDERS TO QUALIFY!
NEW HOME BUILDERS WILL REQUIRE ME TO BE WITH YOU ON YOUR FIRST VISIT TO THE NEW HOME COMMUNITY.
3. WHAT STEPS ARE NEEDED BEFORE VISITING NEW HOME BUILDERS?
Before you contact any of the home builders in Las Vegas, Henderson, North Las Vegas, Reno, Sparks, or new home builders anywhere in Nevada, please contact me. Your rebate can be used for new Las Vegas Valley or Nevada homes. I WILL SHARE UP TO 80% OF MY COMMISSION ON ANY NEW HOME ANYWHERE IN NEVADA. THERE IS NO LIMIT ON THE NEW HOME’S PRICE OR THE REBATE AMOUNT!
PLEASE! YOU MUST CALL ME BEFORE VISITING NEW HOME BUILDERS
I MUST ACCOMPANY YOU ON YOUR FIRST VISIT TO THE NEW HOME BUILDERS!
You can use your rebate towards closing costs (the loan provider will certainly inform us just how much can be used towards closing costs; every single loan differs). Whatever sum remains, we can utilize it to buy down the cost of improvements, appliance packages, lot premiums, or perhaps the price of the home. We can possibly cut you a check for the surplus with the loan provider’s permission. We must operate from the onset together to ensure that every penny is utilized appropriately for your purchase. I am pleased to help out with these negotiations. Your new home rebate is based on the base price of your new home. Given that you assisted in the search, shouldn’t you enjoy a portion of the commission paid by the New Home Builder? Terms and conditions
4. CAN WE VISIT NEW HOMES WITHOUT YOU?
YOU MUST CONTACT ME FIRST BEFORE VISITING ANY NEW HOME BUILDERS TO QUALIFY!
NEW HOME BUILDERS WILL REQUIRE ME TO BE WITH YOU ON YOUR FIRST VISIT TO THE NEW HOME COMMUNITY.
5. DOES THE BUILDER GIVE ME THE SAME PRICE & INCENTIVES IF I REPRESENT MYSELF?
By representing yourself, you would NOT get a discount on the price of the home, and the home builder may not include any extra incentives. If you represent yourself, the builders will pocket the realtor commission built into their marketing fund.
You can share the commission from the new home builder by using Home Discount Realty (homerebatenevada.com) as your realtor. The realtor representing you does not cost you anything, and you will not lose any incentives the new home builder offers. The realtor’s commission is built into the marketing program and does not affect the current price or offered incentives for the new home. Part of my job is to ensure you receive all the builder incentives at the time of purchase. Usually, a builder will announce in advance any price changes or changes in incentive programs in advance.
6. WHAT IF MY REBATE EXCEEDS MY CLOSING COSTS?
How the new home rebate is applied will depend on the builder incentives offered to the buyer. If the builder is offering all or part of your closing costs as a builder incentive, you may have excess credits.
Short answer: If you don’t have a solid plan, your loan provider could force you to forfeit part of your home rebate, and you wouldn’t like that, and neither do we. Your lender can deny excess credits, that is, the portion of your rebate that exceeds your closing costs. Being conscious of the risk of excess credits, we will assist you in taking the required measures to avoid this outcome. You must let me know if you have excess credits as soon as possible.
Long answer: A buyer’s closing costs are substantial for standard PITI loans in Nevada with property taxes and insurance escrowed. You must pay property taxes & insurance upfront, obtain a mortgagee title policy, pay loan origination fees, and so on. Ask your loan provider for an estimate of your closing costs depending on your prospective closing date, but remember that real closing costs won’t be known until the title company calculates pro-rata debits & credits right before closing.
In our experience in Nevada, buyer closing costs usually run approximately 3%, which is actually more than your shared commission rebate on resale or new homes. However, there are possibilities that excess credits still occur, mostly when buyers attempt to merge seller credits (a very common builder incentive) in the very same transaction with a buyer’s home rebate.
So, what do I do if I am buying a new construction home and the new home builder includes part or all of my closing costs in the price of the new house?
Plan in advance and structure the deal with a reduced price or perhaps other benefits instead of closing cost credits from the contractor (upgrades, lot premium, home appliance packages, and the like). This way, the seller will net the same amount, and you will also use your entire rebate. Home Rebate Nevada is delighted to help out with these negotiations. However, we can assist you only if you understand the potential issue and bring it to our attention no later than the period when the contract is being negotiated with the builder.
If you find yourself approaching closing and your lender declares that you can’t use all your credits, there might still be some alternatives to boost your closing costs to your advantage. For instance, your lender might recommend applying the excess credit to “points” buying down a lesser interest rate. Another alternative would be to select a hazard insurance policy with a lot more bells & whistles (cost) than you actually need, and then, after closing, you can get rid of some of the bells and whistles you added previously from your insurance policy (it still has to meet up with your loan provider’s basic requirements) and the insurance company will pay back the difference in premium. But you need to discuss these techniques before closing because they would most likely cause your loan to go into underwriting again, which could delay closing, thus subjecting you to consequences for not closing on time.
7. WHAT IF I ALREADY VISITED THE NEW HOME BUILDER?
You may have just made a very costly mistake! You could be okay with that because some new home builders are more flexible. If you find yourself in this situation, contact me, and I will reach out to the builder to see if they will pay a buyer’s agent commission before you go back again. REGISTER FIRST WITH HOME REBATE NEVADA.COM AND CALL ME BEFORE VISITING NEW HOMES. 702-980-7760 / 702-606-3906
RESALE HOME REBATE QUESTIONS:
8. CAN’T I DEAL WITH THE LISTING AGENT DIRECTLY?
Buyers who do extensive research on homes online may wind up conversing with listing agents. Well, good luck getting a 50% rebate from a listing agent!
Once you go to them without a buyer’s agent, they’re already envisioning how they’ll get the commission from both sides and not how they can give you a rebate! Numerous buyers have come to me after the frustration and disappointment of attempting to persuade a listing agent to give them a rebate. Commonly, these buyers think they can get the listing agent to reduce the listing commission since they “brought themselves” without a buyer’s agent. So, why doesn’t this approach work?
Here are some reasons why…
Listing Agents must get approval from their broker and also their clients before giving a rebate to a buyer. Regardless of the possibility of this approval, a typical listing agent has to pay 30% to 50% of their pre-rebate gross commissions to their sponsoring broker. Hence, this means that the agent with a national franchise organization may work for peanuts after paying their broker and giving you the 1.5% rebate we offer at Home Discount Realty. Of course, a listing agent might tell you what you want to hear.
The listing agent may have given the seller a discounted flat listing fee, which means the realtor makes very little money by giving any kind of rebate back to the buyer.
It’s not worth taking the risk of alienating the Agent with the Exclusive Rights to sell your dream home. Listing agents are sometimes irritated by buyers who request a rebate, believing that their commission isn’t any of your concern. You might think, “Well, I came alone without an agent.” However, they felt it was their marketing that made you come to them, and of course, they paid for banners, photography, realtor fees, MLS expenses, and so on. If you get on the listing agent’s bad side, they might even decline to pay a buyer’s agent commission because they are the “procuring cause” of your offer, and you’ll lose the little opportunity for a rebate on the home.
The agent who shows you the property “FIRST” is usually considered the “procuring cause” and is supposed to receive the buyer’s agent commission. This is why we ask you to register with Home Discount Realty before visiting any homes, including new homes.
For an unrepresented buyer who is a buyer without an agent, searching for a special arrangement will be the listing agent’s lowest priority. In a hot selling market like Las Vegas, you require an agent who makes you a top priority.
9. WHAT ARE THE QUALIFICATIONS & REBATE AMOUNT FOR RESALE HOMES?
33% TO 50% Program Qualifications
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This program is for well-prepared and low-maintenance buyers who are ready, willing, and able to buy now.
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Buyers must be pre-approved before showing properties. (We can recommend our preferred lender)
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WE MUST SHOW YOU THE HOME FIRST.
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Buyers must have enough cash for a down payment, closing costs, and the cash needed for the deal. (Loan programs are available to assist with down payment and closing costs.)
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Buyers must be prepared. We normally show up to 6 houses to receive 33% of the realtor commissions. (We will show more than 6+ properties but may change the rebate amount.)
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Buyers can submit multiple offers but not lowball offers.
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This program is not for Buyers who value a fancy office experience, national brand name, and handholding and are willing to pay thousands of dollars extra for these items.
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10. WHAT ARE THE STEPS NEEDED TO MAKE SURE I RECEIVE MY RESALE HOME REBATE?
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Register on HomeRebateNevada.com
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For Resale Homes Get Preapproved (I can recommend my preferred lender)
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If you already know the homes you want to see, please send the listings, and I will set up visits. If you are just starting, I can do a Direct Search on the MLS (Multiple Listing Service), which lasts 180 days, and new listings are sent to you within 24 hours. I NEED TO SHOW YOU THE HOME FIRST TO BE ELIGIBLE FOR THE HOME REBATE!
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Speak with your lender and determine how much the rebate can be credited toward your loan’s closing costs. Most likely, all of the rebates can be credited to closing costs.
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If you still have funds remaining, ask your lender if you can use the overage to buy down points on your loan. I CAN HELP YOU WITH THIS!
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That’s really all you have to do. I handle the rest! It is very simple and straightforward.
GENERAL QUESTIONS:
11. WHERE DOES HOME REBATE NEVADA OPERATE?
NEW HOME REBATE NEVADA operates anywhere in Nevada for NEW CONSTRUCTION HOMES. If you are looking for new construction in Henderson, Sparks, Carson City, or new home builders anywhere in Nevada, I can help you.
For resale or pre-owned homes, HOME DISCOUNT REALTY operates in the Las Vegas Valley, which includes Las Vegas, North Las Vegas, Henderson, and Boulder City. For other areas that Home Discount Realty operates in Nevada, please call 702-980-7760 / 702-606-3906
12. WHEN AND HOW WILL I RECEIVE MY REBATE?
Home Discount Realty (homerebatenevada.com) shares our commission with our clients as a home rebate at closing via a Nevada Escrow and Title Company as a credit on the closing statement towards their buyer closing costs. A credit at closing is just like cash since it directly reduces the amount needed at closing escrow.
13. DO I NEED TO INFORM THE BUILDER AND LENDER THAT I’M RECEIVING A REBATE?
If you are financing your home purchase in Nevada, notify your mortgage lender about your home rebate. You should begin working with your mortgage lender and the new home builder to ensure you will receive the entire rebate towards closing costs, upgrades, appliance packages, lot premiums, or a reduction in interest rates or the price of the home.
If you are buying a home in Henderson, Las Vegas, or anywhere else in Nevada, please notify your lender about your new home rebate.
14. WHERE CAN I RESEARCH NEW AND RESALE HOMES ONLINE?
Search for new homes at NEW HOME SEARCH
You can research homes through real estate websites such as Realtor.com, ZipRealty, Zillow, Redfin, Trulia, Estately, Homes.com, etc. Suppose you do not want real estate agents calling and sending you emails. In that case, I can directly search the Multiple Listing Service here in the Las Vegas Valley, including Las Vegas, North Las Vegas, Henderson, Boulder City, and anywhere in Clark County. Direct MLS Search lasts 180 days, and new listings are sent to you within 24 hours. For additional home research outside the Las Vegas Valley, please call 702-980-7760 / 702-606-3906
15. ARE WE A FULL-SERVICE REAL ESTATE AGENCY?
We are a full-service real estate company that provides all the essential Realtor services, including showings, listings, and contract negotiations. We belong to the Greater Las Vegas Association of Realtors.
We can offer you a new home rebate if you buy new construction in Las Vegas, Henderson. We have a home rebate for you if you want pre-owned Henderson properties or pre-owned Las Vegas properties. We can offer you a home rebate just about anywhere in Nevada on new construction or resale homes. We want to be your realtor for life.
16. WHAT ABOUT REAL ESTATE COMPANIES THAT OFFER LARGE REBATES?
BUYER BEWARE! My definition of my home rebate is the sharing of the commission offered to the buyer’s agent by the New Home Builder or the Listing Agent. Home Discount Realty has “no purchase price limit” to the rebate a buyer can receive. The rebate amount depends upon the price of the property and the commission percentage offered by the New Home Builder or the Listing Agent.
17. “TERMS AND CONDITIONS APPLY”
WE SHARE OUR COMMISSIONS FROM THE SELLER UP TO 50% OF THE COMMISSION RECEIVED!
Our full 50% of the commission received from the New Home Builder and up to our split of 50% commission on PRE-OWNED Homes are for homes purchased for $100k or more. If the New Home Builder or Listing Agent offers less than the customary 3% buy-side commission, the rebate will be reduced by the same amount. THERE IS NO CEILING ON THE SELLING PRICE OF THE PROPERTY AND THE REBATE AMOUNT YOU CAN RECEIVE. CLIENTS AGREE TO PAY 5% OF THE TRANSACTION BROKER FEES.
TRANSACTION BROKER FEES?
WHEN A NEW OR RESALE HOME IS SOLD BY A REAL ESTATE AGENT, THE AGENT IS REQUIRED TO PAY BROKER FEES IN THE STATE OF NEVADA.
RESALE OR PRE-OWNED HOME EXAMPLE REBATES
| SELLING PRICE FULL | l 3% Commission to Home Rebate Nevada | Your Commission 50% of Commission Received |
|---|---|---|
| $300,000 | $9,000 | $4,500 |
| $700,000 | $21,000 | $10,500 |
| $5,000,000 | $150,000 | $75,000 |
NEW HOME REBATE ELIGIBILITY REQUIREMENTS
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If you are financing, your lender must approve your new home rebate. SEE FAQ 6
This offer is voided if you have signed a written agreement with another realtor to represent you.
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You must register on Home Rebate Nevada before visiting any new home builders. I must PREREGISTER you before visiting any new home builders or accompany you on your first visit to the builder. If you have previously visited the builder, this offer may be void. SEE FAQ 7
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The builder’s contract must list me as the buyer’s agent. Before signing a builder contract, make sure my name is listed as the SELLING AGENT, SELLER BROKER, OR BUYER’S AGENT.
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The homebuilder must agree to pay a commission to the selling agent (Buyer’s Agent). If the commission is reduced from 3%, then the new home rebate will be reduced proportionally.
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Buyer must sign a standard Buyer Representation form with an added special rebate provision, which protects you by putting the rebate in writing.
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