A buyer commission rebate is when your agent gives you a portion of their commission at closing.  It is usually used by buyers to pay closing costs and prepays.  

In a traditional home sale, the seller usually pays the buyers agent’s commission for bringing the buyer. In South Carolna, this is typically 2.8% percent of the sales price although it can vary.  By working with OneUp Real Estate, you can receive a Realtor commission rebate of up to 50% of the commission we receive.  

No. Since you receive your buyer commission rebate as a credit at closing it is not considered taxable income.  * Please note that I cannot offer you tax advice so please consult with your accountant or tax attorney. 

We offer our buyers a commission rebate for numerous reasons.

 - The commission structure is outdated. Despite the explosion of the internet, giving buyers more access to information listings, the commissions agents are paid has not changed.  We believe this is wrong and that buyers, particularly ones that like to do some of their own legwork in finding the home, should have another option.
 

- It helps us acquire clients. Rather than pay “lead generation” companies that sell your info to us, we offer the rebate directly to you, cutting out the middleman.

- We have very low internal costs and can pass the savings along to you. Many brokerages have high costs they charge their agents when it comes to closing costs, office fees, brokerage splits, etc. that eat into an agent's commissions.  Although we do have some internal costs they are very low and we do not pass those along to our buyers.  All our brokerage fees come out of our 50%.  Our buyers do not pay any transaction fees or anything along those lines.

The buyer rebate you receive is applied at closing on your settlement statement.  If you are using a lender, then the lender usually takes the rebate and uses it to pay closing costs and prepaid items that you would normally have to pay out of pocket.  Some examples of these fees include loan origination fees, property taxes, title fees, etc.  

Yes, but documentation requirements may be more detailed. IYou'll need to work with your lender while you are getting pre-approval process.

Sort of.  We have to make money, or we can't keep this going.  Therefore we have a minimum commission we must make on every transaction helping the buyer.  This commission goes towards keeping the doors open and the lights on.