Where does the money I receive (the thank you closing gift) come from?
In a ‘typical’ transaction, the seller pays a total commission of 6% of which 3% goes to the agent representing the buyer.
Transaction example – normal real estate:
However, when a buyer works with a UBroker network buyer agent, there is one additional step. The seller pays a 3% commission to the UBroker network agent, but, the agent then shares part of that 3% with you the buyer as a thank you gift at closing. The amount shared is either applied to your closing costs or given to you in a Visa gist card at closing.
Transaction example using UBroker Network:
Does the rebate program apply to new home construction?
Yes it does, to both new home construction and new home communities. The UBroker network agent must be registered with the builder as your designated agent and you must sign a buyer’s agent representation agreement. This allows the agent to be paid a commission and then in turn, to be able to give you the closing gift. We prefer the agent be with you when you visit a new home community and handle the registration at that time. However, if you visit a new home community without the agent, be sure to tell the community / builder site agent the assigned agent’s name and that they are representing you. This is especially important if you complete a community / builder registration form. THE AGENT MUST BE PRESENT BEFORE YOU DO A LOT DEPOSIT OR ENTER INTO A CONTRACT.
Does the closing gift program apply to homes on the Multiple Listing Service (MLS), Zillow etc.?
Yes it does. However, you must sign a buyer’s agent representation agreement with the local agent prior to viewing homes. This insures the agent will get paid and that you will receive your closing gift. (If you visit an open house; just tell agent at the open house that you are represented by the local agent) You can also do “drive-bys” to check out the exterior of houses and neighborhoods but when you want to see inside a home, be sure to call your network agent to schedule a showing.
How is UBroker similar to other residential real estate brokerages?
We have a network of local agents who want to reward buyers for doing some of the work themselves. The local agent is regulated and licensed by their state agencies to protect consumer interests. Your local agent will provide service on par or better than most other traditional brokerages. Our network agents adhere to the National Association of Realtors Code of Ethics.
How is UBroker different from other residential real estate brokerages?
UBroker hand picks all of our network agents to insure you are getting top notch service. The network agents are innovative thinkers and work outside the box to reward buyers for doing some of the legwork. Your local agent will provide service on par or better than most other traditional brokerages.
What types of property do you help buyers with?
Residential properties only.
What types of buyers do you work with?
We work with relocating buyers, move-up buyers, investors and first time buyers.
Do I need to use a particular mortgage company?
No, you can use any mortgage company you want. If you would like assistance in choosing a mortgage lender we will be happy to assist you as we are working on agreements to save you even more money at closing.
Are thank you closing gifts legal?
Absolutely but they cannot be in the form of cash.