What You Need to Know About Giving Rebates on Your Commission
If you’re a real estate agent in Texas , you’ve probably heard the term ‘rebates’ come up before. Rebates are like coupons or rewards that you can give to customers to encourage them to make a purchase. In this article, we’ll explain what exactly a rebate is and how you can use them to incentivize buyers into making a purchase. We’ll also explain how to give them, what paperwork you need to include with the 50% buyers rebate or less, and how to record the transaction. What is a Rebate? A rebate is a marketing strategy used to offer a 50% refund to the buying party on the total commission of the buyer’s agent to encourage them to make a purchase. As the industry has started to shift, rebates have become one of the most popular tools for new clients. The idea behind a rebate is that if a customer buys your real estate with the help of agents, they are subject to getting the rebate. It has to be discussed with the brokerage and the seller in the initial stage if they have any objections