Excellent the way it is presented! UpNest was great and I would recommend you to anyone at any time. Thank you for the assistance!!
Best part was getting commission proposals right away. Very convenient, saves time. I also like seeing a brief video/audio clip, along with the services they offer. This helped me narrow down to a few potential agents I wanted to meet.
UpNest was easy to use and helped me find a real estate agent that matched my needs without any headaches or excessive calling. You only receive calls if you select to interview that agent.
The typical buyer’s agent commission is 3%.
Buyer’s Agents can compete for home buyer business by refunding a portion of this commission to the home buyer.
For example, a Buyer’s Agent could refund 0.5% of that typical 3% which, for a $430,000 home, would be $2,150 in savings.
The IRS has ruled that a rebate isn’t taxable, but is an adjustment to the buyer’s basis in the house, which effectively lowers the home’s purchase price.
Buyer commission refunds are not available where prohibited by law, including in Alabama, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Oregon and Tennessee. Depending on the property, not all agents offer refunds.
There’s no cost for using a buyer’s agent. It’s completely free! Buyer’s agents are well-networked with home inspectors and lenders and can help negotiate for the best possible home price.
Buyer’s agents are the first to see when listings go live, even before they show up on Zillow or other sites. They may also have insider information and know about listings even before they hit the market. They can let you know immediately when properties are available so you can make an offer before the competition arrives.
Once you’ve chosen a property, buyer agents can also help you negotiate your offer, schedule inspections, appraisal, and help renegotiate your offer should you find anything in the inspection. They’ll stay with you through closing and beyond.
UpNest agent’s refund amount is calculated based on a percentage of the buyer’s agent’s commission. This commission may vary based on location, but is generally 2.5% to 3% of the purchase price of the home. The refund (or rebate) is typically paid through escrow and is generally credited towards closing costs, subjected to local custom and lender conditions. For example, if you purchase a $500,000 home with a 20% refund offered on a 3% buyer’s agent commission, your refund amount will be $3,000.