Buying a Home?
Buyer Agent Services Offered by R+K Real Estate
R+K Real Estate's 1% Model
Traditionally a seller has been the one who pays commission. But that's not guaranteed any longer due to the recent settlement agreement from the National Association of Realtors. However, it's still important to use a Buyer Agent when looking for homes. R+K Real Estate is the only full service broker in Lawrence willing to negotiate commission down to 1%.
As an independent broker, R+K Real Estate is able to offer unique solutions to our home buyer clients. By reducing much of our overhead expenses and anticipating industry changes, we leverage technology and innovation to the financial benefit of our clients. Choosing to work with a company like R+K will be the best and most cost-effective way to find the right home!
In order to take on new buyer clients, we require an initial meeting with prospective home buyers. If we agree to work together, signing a Buyer Agency Agreement is a requirement to access our services. Our agreements state our fees are 3% of the sales price as we anticipate listing agents to continue to offer 3% buyer agent commissions. However, our agreements also state that we are willing to negotiate our fees down to 1% when we are able to.
What Does it Mean to Hire a Buyer Agent?
Here is a snapshot list of some of the services that come when hiring us to help you buy a home!
- Initial Buyer Consultation / Connection with resources like a local lender
- Setting up a Home Search in the MLS
- Showing Potential Homes
- Negotiating an Offer
- Navigating the contract including Inspections and Negotiating Repairs
- Connection with Contractors, Insurance Resources, and other home related services.
- Supervision of the transaction including partnering with the Title Company/Closing Agent
- Navigating Closing.
In the Event the Seller pays commission in excess of 1%
On certain listings, a seller may still be offering to pay a commission to a Buyer Agent. If we make in excess of our fee from the seller, we offer a Buyer Gift Rewards Program to our clients.
Why Have a Gift Rewards Program?
We understand that making the decision to buy carries a massive financial impact on our clients. But, because of the way agents are typically paid, Buyers have less negotiation power than Sellers. As an independent broker, we are able to keep costs low and pass savings along to our clients. We award points from the transaction based on the Net Commission we receive. Each point can then be redeemed for a gift card at a retail store of your choice. 1 Point = 1 Dollar!
After buying a new home there are lots of other things to buy! Things like new furniture, appliances, or materials for a remodel project. We want to help! Points can be redeemed for Buyer Gift Rewards. Choose to spend points on a gift card from one of these four retailers: Home Depot, Nebraska Furniture Mart, Target, or Menards!
Feel like you're in as giving a mood as we are? Instead of getting your Rewards as a gift card, we will make a donation in your name to a charity of your choice! Our favorites tend to include those local charities that focus on housing-related issues: Family Promise, Habitat for Humanity, Tenants to Homeowners, the Humane Society (pets need houses too!), Willow Domestic Center, Just Food, or the Ballard Center. Housing for all is a priority for R+K Real Estate and we'll take all the help we can get!
Details:
- All Buyer Gift Rewards must be in the form of a gift card to a specific retailer. Rewards cannot be cash, cash-equivalent, or redeemed for cash.
- Only applies when R+K is acting as the client’s Buyer Agent and receives at least a 1% Commission paid by the seller.
- Tenant-occupied properties do not qualify for our Rewards Program.
- Does not apply to custom new construction homes.
- Unlisted properties and for-sale-by-owner situations are all unique and we take each on
a case-by-case basis. - Rewards Offers expire 30 Days after presented.
- Net Commission is defined as the gross commission we receive at closing from a home seller/listing agent when representing a buyer client through buyer agency, minus any referral fees or other fees due upon or after closing.
For more information on how we can help you buy a home, check out our Process of Home Buying page.
Related Topics:
How to Avoid Over-Paying Commission
