In this video you will see another Duffy home buyer who discovers that money does grow on trees. Thanks to Sherry Hoger, a great buyer’s agent on the Duffy Realty team, Sherry’s clients are several thousand dollars richer and they enjoyed the process.
If you decide that you want a money tree of your own, please visit my website here for the details. We gave 323 buyers cash bonuses in 2007 after they found their dream home and closed the deal.
This is a walking tour video of downtown Decatur done by our own Sherry Hoger.
If you are buying a home in an area that you would like to know more about, please write us. We most likely have the video for the city.
There are 7 things that you need to know if you are going to take your role as a buyer seriously. Read on and I will explain step by step the 7 things that are most important when you are buying a home or condo.
#1 thing to know and do when you buy a home or condo in Atlanta
Get Your Money Together – Bologna Sandwiches Get Old Quick
Get approved for a mortgage. Approved means that you have given your lender every document that need to tell you the range that you can purchase in, what the amount of your payment, taxes and insurance will be and what your closing costs are. They will give you an approval letter so that you can show it to your agent and they can negotiate with power and get you the best deal possible. Sellers appreciate buyers who are ready to go and they will usually take you much more serious than someone who has done the easy work of finding a home first.
#2 thing to know and do when you buy a home or condo in Atlanta
Hire The Very Best Agent You Can Find – It’s Free, Why Not?
Yes, that is right. Phillipe’s buyer helped Phillipe find the house for him and he reaped over $7,000 of Phillipe’s commission. All part of the THANK YOU that you get when you buy a home with Duffy Realty protecting your interest.
Tell all of your friends and family – Duffy Realty is serious about giving money to EVERY buyer in Atlanta! Jack got his check personally delivered.
View the Video Here.
To get your buyer cash bonus, check out how here.
As seen in The Real Estate Journey
March 28, 2007
Many agents state that giving a buyer a cash bonus after closing is not legal. What is it that they want to hold back from their buyer? Buyer Rebates or Buyer Cash Bonuses are legal in 38 states.
As stated in Realtor magazine for consumers and agents, only 12 states have said that giving a buyer part of the agent’s commission is illegal in their state. The others have said – give the money back, it is legal. The states are Kansas, Alaska, Mississippi, Oklahoma, Iowa, Louisiana, New Jersey, South Carolina, Missouri, Rhode Island, West Virginia and New York. If you don’t live in one of those states, buyer rebates where an agent shares a commission with you is legal.
What we are talking about here is an agent agreeing to split or share their commission with a buyer who is the principal in the transaction. This has been done for years if your mother was the real estate agent or the agent agreed to take less of a commission to make the deal work.
At Duffy Realty of Atlanta, they share their commission up to 50% of the total commission, when a buyer helps them do what the buyer is doing anyway, which is help their agent find the home that they want to buy by driving by homes and searching the internet. “We apply this rebate to any listed home, for sale by owner or new construction. The only catch is, that the client must hire us in writing to represent them,” says Rhonda Duffy, owner and broker of Duffy Realty. “We successfully gave 323 buyers money within 5 days after closing in 2007 and ultimately saved these folks, made these folks, whatever you want to call it, $1,169,137.73 in cash. That’s a lot of whatever you want to call it!” says Duffy
“Buyers need to understand that this is their money. They are doing the work and they deserve the money. Another way to look at is that if the seller was not paying a commission, the buyer may get a better deal. The buyer is actually getting the best of both worlds with our Buyer Cash Bonus because they get the expert representation of someone who works volume while getting a check that averages $4200.00 on average. Our goal is to give every buyer in Atlanta a check after closing while supplying them the best representation that we have studied and strategized over for the last 6 years and thousands of deals,” boasts Duffy.
To learn more about your state and the laws regarding Buyer Rebates would be a smart move considering that most states have given you, the buyer, the right to get money back at closing!
I found this on ActiveRain – a social networking blog that I belong to. This is a commentary between agents and a manager of Active Rain, Tim:
Buyer’s Agents, Have Consumers Really Chosen Their House Online?
I’m fascinated by the conversation around REALTORS® and real estate on Twitter.
I track lots of different key words and find the conversations that take place enlightening. The other day I saw this comment from PJ.
“Going to meet with my realtor. I don’t know why as I’ve already picked out my house. GO AHEAD, TAKE MY MONEYS”
The timing of the comment was particularly interesting, since I had just had a conversation with Mariana Wagner about how her Internet clients “think” they know what house they want, based on their Internet searches, but more often than not end up buying something completely different.
In PJ’s case, she put an offer on a house that same day, so she was probably right. But every REALTOR® I speak to tells me that the process is indeed made easier by the consumers search, in most cases, but that their local knowledge contributes greatly to what their clients end up buying. The stereotypical consumer thought, “why do I need to pay so much money if I’ve already done all the work?” is often incorrect.
So it leaves me wondering…
What percentage of Internet shoppers really find their home online? What percentage of Internet shoppers end up buying something that you, as their buyer’s agent, have shown them instead?
Step Seven: Buying a Home
Owning a home is a keystone of wealth—both financial affluence and emotional security. With mortgage interest rates still at or near historic lows, this remains an optimum time to consider buying a home. Here are five things you should know right now:
One: Look for good value at a price you know you can manage. Don’t worry overly much about buying into a “housing bubble,” says Barry Habib, a national sales trainer for GMAC Mortgage and the mortgage consultant for CNBC. “And be sure not to get into a bidding war,” he says.
Two: Opt for a fixed-rate rather than an adjustable-rate mortgage. When mortgage interest rates are low (below 7 percent), as they are now, you will lock in a good rate for the life of the loan. Experts predict that mortgage rates may begin to rise slightly at the end of the year, so try to apply for a mortgage sooner rather than later.
Three: If you’re buying a new-construction home, consider locking in a favorable interest rate before you close on it, especially if you’ll have to wait months before construction is finished. An extended rate lock costs a little extra but will protect you against climbing rates.
Four: Ignore the annual percentage rate when shopping for a mortgage. It’s probably better to choose a slightly higher fixed rate with no points and low fees than an advertised lower rate with points and higher fees or higher closing costs that are not tax-deductible. Always do the math yourself, or ask your broker to explain all the costs and fees involved.
Five: Consider a 15- or 20-year fixed-rate mortgage instead of a 30-year, if you can afford the monthly payments—they may not be as high as you think. The benefits: You’ll get a lower mortgage interest rate, build home equity faster, pay less in total interest over the life of your mortgage loan, and be debt-free 10 to 15 years earlier.
And, don’t forget Duffy Realty’s Buyer Cash Bonus. View cancelled checks and testimonials now.