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A. Home buyer rebates are Bloomkey's way of compensating you for the time and effort you spend in finding a home. Traditionally, real estate agents got paid to provide you with information about homes for sale and for taxiing you around to look at homes. Now with all of the homes for sale available on the Internet, you can do much of the work yourself. And if you are willing to drive yourself to Open Houses and showings, then you're now entitled to a rebate of the majority of the selling agent's commission - Potentially thousands of dollars for you to use for your closing costs and settlement charges!
As you probably know, Selling Agents (otherwise known as "Buyer's Agents) are paid by the seller out the commission negotiated by the Listing Agent (the agent who has listed the property in the MLS). This commission is usually split 50/50 between the Listing Firm and the Selling Firm. So, if the total commission is 6%, 3% would go to the Listing Agent and 3% would go to the Buyer's Agent.
Bloomkey's Home Buyer Rebate Program allows you, the home buyer, to earn a part of the Buyer's Agents commission for yourself in exchange for your doing some of the work of finding and buying a home.
Or, simply complete the Online Registration Form to register for your savings or call toll-free 1-800-974-6657 to speak with a Bloomkey representative for more information.
A. Yes, in most states, rebates are perfectly legal. In fact, it's illegal not to allow rebates. That's called "price fixing" and falls under the "anti-trust" provisions of federal law. In fact, Real Estate Commissions around the country have been receiving a lot of scrutiny from the Federal Trade Commission (FTC) and the Department of Justice (DOJ) because of their policies restricting rebates in real estate. A handful of states do not allow rebates: Alabama, Alaska, Iowa, Kansas, Louisiana, Mississippi, Missouri, New Jersey, New York, Oklahoma, Oregon and Wyoming. Kentucky and South Dakota have already rescinded their prohibitions against rebates. In states that allow a rebate to the Buyer (and when allowed by the Buyer's Lender), you can generally receive a credit at closing to use for your closing costs up to the amount for your area.
A. No. In order to participate in the Bloomkey Home Buyer Rebate Program, you cannot have a buyer's agent representation agreement with another real estate firm. If you do not currently have an agent, but have already seen a property with a listing agent, it may be possible for us to represent you and for you to obtain your rebate. See below...
With Bloomkey's Home Buyer Rebate Program you can save thousands of dollars on your next home purchase.
A. Probably. Sometimes a Builder or Listing Agent will allow you to hire a "Buyer's Agent" after your initial visit. Your first step is to call the Builder or Listing Agent as soon as possible and ask them if you can have a real estate agent represent you. If they say yes, we will assign an agent to you. If not, we may be able to obtain your rebate through the purchase offer.
A. See our Buyer Rebate Calculator for your savings. Additionally, as an Bloomkey customer you may receive discounts and rebates from Bloomkey's many affiliated service providers such at Charter One Mortgage and PODS Moving and Storage.
A. Nothing. 0. Nada. Zip. The entire program is free to you as a home buyer. Bloomkey' s fee can be paid from the commission paid by the home seller.
A. Use the guide, How to Buy a Home Online with Bloomkey for details on ensuring your rebate savings.
A. Although Bloomkey representatives do not show properties, there are a number of ways to preview properties on your own so that you can participate in the Cash Rebate program.
A. To register for your home buying savings, or just to find out more about the Home Buyer Connect program, simply complete the information request form by clicking the "Order Now" button below and completing the online form, or call our representatives toll-free: 1-800-524-6657 ext 2