REBATE OR DISCOUNT?
QUESTION: Rltr John, a buyer goes directly to the Seller. Can he ask for a rebate or discount? If yes, how much?
ANSWER: A buyer can only ask for discount, not rebate. I call it Broker-Less Discount practically because he transacted DIRECTLY to the seller or seller's agent, which means he did on his own the workload of watching his own back in the transaction. Agent's Commission is shared 50%/50% between Buyer's Agent and Seller's Agent. Without a Buyer's Agent, the Buyer CAN DEMAND a 50% discount of the amount of Agent's Commission -- and this can be a reason to lower down the price.
If there is anything else important that I forgot to include in this article, or if you experienced a real estate transaction that is anomalous, scam, fraudulent scheme that you want me to document and expose for others to be warned, or if you want to donate to the war chest of real estate consumer rights advocacy, please feel free to email me at JohnPetalcorin@Gmail.Com. If you want to comment about this article, there is a provision for this purpose that you can find below.
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