Redfin Refund vs. Realtor Rebate MD – Which Home Buying Option Is Right For You?

by Aya Netanel 4th November 2020

Buying a home is one of the giant financial undertakings that most people will ever attempt. This costly and tricky process comes with its unique set of major risks and lifelong rewards.

When it comes to buying a home, most people are concerned about two things – the quality of their representation and the amount they will end up having to pay in the transaction. Recognizing this, some real estate providers like Redfin, offer buyers the promise of a rebate. At first, this might seem like a smart move for buyers, as Redfin offers to put money right back into the buyer’s pocket, and who could say no to free cash? (For those who are unaware of Redfin, its a company providing attractive refunds to individuals buying homes through Redfin).

But there is a catch to it. There is a little more going on to this rebate process which could put buyers at a risk causing them to pay more.

So, is it a hot technology company with the potential to disrupt how Americans buy and sell homes? Or, is it just another discount residential brokerage — albeit one with a nifty set of online tools?

Redfin advertises a 1% -2% seller commission, which they call it a ‘listing fee,’ whereas, on the other hand, Redfin sellers are also responsible for paying the buy-side agent commission, because the houses are listed in the MLS. This means a buyer ends up paying 3.5%-5% in commissions.

A con that many customers find about buying a home with Redfin is that it is the customers that do most of the work. The customers will be doing all the looking and researching about the home they are interested in.

At Magnolia Realty, we reward all our customers for plunging into a more active role in searching for their home either online or by visiting open houses when possible. Once you identify your dream home, we will step in and provide you with full-service representation for a flat fee of 0.89% of the sales price or $4,000 whichever is higher. The remaining up to 2.11% is a gift to our customers from our end.

If you want to know how much you can save with Magnolia Realty’s realtor rebate MD, here’s a glimpse of it –

 

  1. At a sale price of $200K, you’ll get $2,000 cash back at closing.
  2. At a sale price of $300K, you’ll get $5,000 cash back at closing.
  3. At a sale price of $400K, you’ll get $7,500 cash back at closing.
  4. At a sale price of $500K, you’ll get $10,500 cash back at closing.
  5. At a sale price of $600K, you’ll get $12,660 cash back at closing.
  6. At a sale price of $700K, you’ll get $14,770 cash back at closing.
  7. At a sale price of $800K, you’ll get $16,880 cash back at closing.
  8. At a sale price of $900K, you’ll get $18,990 cash back at closing.
  9. At a sale price of $1M, you’ll get $21,100 cash back at closing.
  10. At a sale price of $2M, you’ll get $41,200 cash back at closing.
  11. At a sale price of $3M, you’ll get $63,300 cash back at closing.

 

At Magnolia Realty, we provide the best realtor rebate MD for every home buying experience as compared to Redfin refund MD.

Do visit us today to buy a beautiful paradise for your family.