Buyer Cash Back Bonus
"We offer significant buyer incentives on ANY Resale Home listed with ANY Real Estate Company OR New Home Construction throughout California. The Seller or Builder is paying our commission so we represent you, the buyer, for free. As our many satisfied clients can attest, we offer full service, first class Buyer Agent services.”
Why and How Does Our Relationship Work?
Our relationship with you and this cash bonus is based on our expertise as Real Estate Consultants and your ability to search and find properties that are currently on the market. Your part is easy. As you know, in today’s real estate market, everything that is listed on the multiple listing services is available to be seen on hundreds of duplicated websites. Independent surveys state that 98% of buyers search the Internet to find a home. Virtually no one surveyed said that their agent found them a home that they had not seen on the Internet or by driving around. If you are one of the 98% of the buyers out there doing their own work, we figure why not pay you for your efforts so that we can serve more people and focus on the contract and process as our expertise. We know that this process will not work for everyone and we will help you find the home as a high priority client if needed – we still know how to do that too.
Is this legal?
The real estate law in California says that we can give a broker incentive to any buyer as long as the buyer is listed on the settlement statement as a principal. On a side note, the law also states that we cannot give a referral fee to a person that is not a real estate agent when they send a friend to us to use the cash bonus. But, with that said, please don’t forget that your referrals are greatly appreciated! We need more raging advocates and we will earn your respect, your future business and your friends.
What you need to do next (like right now – before you see any other properties)?
Immediately meet with a Graystone Realty Group, Inc (GRG) Buyer Consultant to become a Graystone client. Becoming a GRG client helps ensure that we will be free to represent you and your best interests and not those of the sellers. We will also be eligible to receive a commission that is paid by the seller of the home. We will do our best to allow you to see houses outside of the cash bonus, but we must schedule the showing for you with the seller and/or listing agent. Otherwise the listing agent may claim that they are entitled to the full commission.
Homes that you are serious about purchasing and have seen prior to becoming a client will need to be discussed with the listing agent by us to determine their rights to procure the whole commission. IT IS VERY IMPORTANT THAT WE BECOME ENGAGED IN AN AGENCY RELATIONSHIP IMMEDIATELY to protect our right to a commission, thus giving you the cash bonus.
Your lender must comply with the contract under timeframes presented. GRG is not responsible for their actions. It is the buyer’s responsibility to pursue loan approval.
GRG 2% Cash Bonus
Option 1
What are each of our duties?
While under an Exclusive Buyer Agreement with GRG our duties will include:
Confidentiality
Expert guidance and advice about the resale potential of the homes that you are interested in that we see you through:
- Contract negotiation
- Inspection negotiation
- Inspection and walk you through the process
- Appraisal regarding comps and neighborhood.
- Closing set-up, advice and review of settlement statemen
While under an Exclusive Buyer Agreement with GRG , your duties will include:
Advising others that you are represented by GRGLS as a client
Searching and doing an exterior preview of homes that interest you
Reasonable intent to purchase a property with good faith
Your cash bonus pay-out is based on the amount of properties we see with you:
1 to 7 properties 100%
8 to 14 properties 50%
15 to 21 properties 25%
22 to 28 properties 15%
29 or more properties 20%
No other fees are charged/deducted from the cash bonus given to the buyer. There is no time limit. You may take as long as you need to find your home. We will not write a contract without seeing the home first. Your cash bonus is generally applied to your closing costs or can be mailed within 10 business days of closing.
Commissions are normally based on what the seller advertises as the co-op commission in the MLS/So Cal Temp system. This is normally 3%, but it can range from house to house. Some houses pay 2% and some pay up 5-6%. In any case we will review this with you upon presenting an offer.
Any change of the commission after the contract goes binding or reduction of the commission in order to make a price concession during negotiations will be deducted solely from your cash bonus pay-out and will not reduce with GRG percentage of the commission.
GRG Full Service
Option 2
You can choose our Full Service Option. With this option, you will receive full service and expert guidance. We will consult, negotiate and take care of all the transactional details such as but, not limited to:
Preview houses for you if necessary
Diligently look for homes on your behalf on our systems
Work closer with your lender
Attend closing with you
And, walk you through the post closing checklist
As a result and in lieu of a closing gift, we will pay you $150.00 within 5 business days of closing.
Exceptions
GRG will not split a commission less than 1% with a buyer. Should the commission being paid by an agent be less than 1%, the buyer rebate / buyer cash bonus will not be applicable to buyer.
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