Believe it or not we have seen a resurgence in situations where multiple buyers are bidding simultaneously on the same home. In these situations buyers need to find a competitive edge when trying to outbid other buyers. There is no more powerful tool in gaining that advantage than "The Rebate".
Here is an example to illustrate the power of The Rebate in these situations:
Home is listed for $275,000 and the seller is offering buyer agents a 3% commission. Buyer X is utilizing the services of an agent that DOES NOT rebate a portion of their commission to the buyer. Buyer Y is utilizing the services of an agent that DOES rebate a portion of their commission to the buyer.
Buyer X offers $275,000 for the home. Buyer Y offers $277,000 for the home. Buyer Y wins the bid.
More importantly because Buyer Y's agent rebates more than $4,000 to Buyer Y, the net purchase price of Buyer Y's offer is less than $273,000.
Not only did Buyer Y win the bid but it did not cost Buyer Y anything relative to what Buyer X was offering.
A rebate is a powerful tool in all buying scenarios but particularly in multiple bid situations.