Rebate Agents ~ Please Take Note ~ Top 10 Items to Remember

By
Real Estate Agent with Preferred Home Brokers

If your chosen path in real estate is that of a rebate agent, good for you. If you work for Redfish, Zap, Rebates-R-Us, that's just fine with me. If you choose to earn one-dollar  (or whatever)...no problem here, it's okie dokie with me and the sellers I represent.

However,  if you choose to sell one of my listings in which I am representing the seller please be advised of the following:

  1. You will be expected to follow the instructions on the MLS print out and call for an appointment to show the subject property yourself.
  2. You will be expected to actually show up for the appoint to show the property yourself.
  3. In the event your buyer is interested, you will be expected to write an offer yourself using the appropriate contract,  that means the current form available,  Residential Purchase Agreement (CAR) form.
  4. You will be expect to complete all required information for a fully executed purchase agreement.
  5. You will be expected to use all applicable disclosure forms that accompany your buyer's offer to purchase.
  6. You will be expected to present your offer (through me) if requested by the seller. 
  7. You will be expected to show up for your buyer's physical inspection.
  8.  You will be expect to facilitate the transaction from the buyer's side to maintain the timelines within the contract.
  9.  In the event you choose to have a final walk-through you will be expected to be present while your buyer's are at the subject property.
  10. The buyer will be expect to close escrow on time as agreed up on the purchase agreement.

In the event you choose to represent a buyer based on the above guidelines you can expect the following from me as the listing broker representing a seller:

  1. You can expect a timely presentation of your buyer's offer to purchase.
  2. You can expect a complete and thorough evaluation of the offer based of the merits as presented..
  3. You can expect a timely response to your buyer's offer to purchase.
  4. You and your buyer can expect to receive current reports/disclosures (as applicable) in a timely manner. All reports and disclosure will be fully completed as required.
  5. You can expect me to attend scheduled appointments, appraisal, inspections, final walk-through to fully represent the seller.
  6. You and your buyer can expect to be held accountable to meet the time limits as set forth in the purchase contract.
  7. In the event your buyers  have not met the times lines (within the contract) and signed off applicable contingencies,  you can expect the seller to furnish a "Notice to Perform" and/or cancel the contract.
  8. 8. You can expect me (as listing broker) to do everything necessary to facilitate a timely closing from the seller's side of the transaction.
  9. You can expect the seller to be prepared to close escrow in a timely manner and provide possession to your buyers as agreed upon. 
  10. Provided you follow the selling agent guidelines (listed above) you can expect a smooth, pleasant transaction. One where at closing the sellers still like the buyers and vice-versa.

As I said before, I'm happy to work with each and every co-operative agent. I'd just like to be sure you do your absolute best to represent your buyers to the best of your ability. All too many times I encountered too many unrepresented buyers not fully understanding the situation.

Oh one more thing, if you plan on receiving anycommission (as a co-op agent) you must be a member of the MLS (or co-operating MLS) since this is the offer of compensation. That real estate license in your wallet is just that,...not entitlement to a commission (I'm sure it's this way in most states) in our state.

Thank you in advance for your co-operation!

For the record this is written (as a primer) in response to multiple calls I've received on current listings. Listings that are easy to see and easy to show, vacant properties with a lockbox and lights on for night showings. Listings with unobstructed showing requirements and for some reason other agents are just too busy.

 

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Groups:
Real Estate Risk Managment
Tags:
buyer rebates
home buying rebate
brea real estate
brea houses
brea homes
preferred home brokers

Comments 105 New Comment

Rainmaker
534,345
Lynda Eisenmann
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co. Real Estate
Preferred Home Brokers
Adam ~ Works for me!
September 03, 2007 08:59 PM
Rainer
231,877
BLR Guy
BLRGUY(Beach & Luxury Realty Inc)
I have to agree with you on what you had to say.The good news is,with the way the market has been,it has helped to weed out alot of the"exotic" type realtors.Just because their service is discounted,doesn't mean everyone else's is.
September 04, 2007 04:30 PM
Rainmaker
534,345
Lynda Eisenmann
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co. Real Estate
Preferred Home Brokers
BLR ~ Good point, but I wouldn't have any issue working with them, as long as they did their work! That's my issue, they can charge whatever they like, a buck as far as I'm concerned.
September 04, 2007 05:33 PM
Rainer
2,004
Missy Parker - NW Houston, TX Real Estate
EJR Realty
This is a great post.  It says everything I've wanted to say and more!  I've been subjected to the discount brokers before and it can be very trying.  You just need to keep referring them back to their Realtor/representative until things are done properly.  Thank you for your thoughts!
September 04, 2007 08:45 PM
Rainer
213,039
Doreen McPherson
Phoenix Arizona Real Estate ~
Homesmart ~ Scottsdale ~ Tempe

I see you gave permission for use of this list.  Would that apply to all of us? 

Thanks.

September 10, 2007 02:42 AM
Rainmaker
534,345

Lynda Eisenmann

Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co. Real Estate
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