Homebuyers can’t seem to catch a break in recent years.
The post-pandemic months ushered in a real estate market bursting with demand and staggeringly low supply. Homebuyers had to endure grueling bidding wars and resign themselves to make competing offers well over the asking price.
Today, though the bidding wars may have subsided, homebuyers face a new challenge as mortgage rates are significantly higher than they were a year ago. But even in the face of the challenging market, there is a way that savvy San Francisco Bay Area buyers can save thousands of dollars when they purchase a home.
Enter Prevu, a modern, online brokerage that has committed to unlocking thousands of dollars in savings for homebuyers in the Bay Area.
How commission rebates help buyers save money
Home buyers who partner with Prevu can save when buying a home. Prevu unlocks these savings for buyers via a commission rebate. So what exactly are they?
Commission rebates, also known as homebuyer rebates, are a portion of your broker’s commission fee returned to you upon the closing of a home purchase. Prevu’s Smart Buyer Rebate Program offers the largest commission rebate in California, giving buyers a rebate of up to 2% of the purchase price of a home.
Traditional brokerages may frown upon the practice, but commission rebates are legal in 40 states, and provide a much-needed financial incentive for buyers wading into the real estate market.
In a traditional real estate transaction, the seller pays the listing agent a 6% commission. The listing agent will give a portion of the commission to the buyer’s agent, but the buyer is left covering hefty closing costs on their own.
Prevu is on a mission to change this outdated practice and unlock sizable savings for buyers.
Buyers who choose to work with Prevu receive up to two-thirds of their broker’s commission in the form of a buyer rebate. For example, if you were to buy a home in Palo Alto for $1,800,000 with Prevu, you could receive a rebate check for up to $36,000 upon closing.
For buyers looking to make their home purchase more affordable, a rebate check can bring a world of relief when it comes to offsetting closing costs, replenishing a savings account drained for a down payment, or simply furnishing a new home.
Buyers are empowered with control of their home search
In a modern, fast-moving real estate market, having the right tools to navigate a home purchase from the comfort of your smart device can be the difference-maker in ensuring a smooth real estate transaction.
Prevu’s digital home buying platform enables Bay Area buyers to control virtually every step of their buying process online. Gone are the days when you have to send paperwork via email and wait for an agent to get back to you via phone call.
With Prevu, buyers can enter their search parameters, from the desired number of bedrooms to style and location, and receive up-to-date alerts when the ideal home hits the market.
From there, homebuyers can seamlessly chat with their dedicated Prevu agent to discuss the listing, schedule a tour with the click of a button, and collaborate with their agent about an offer, all online.
Prevu’s digital customer experience also provides a secure tool for buyers to upload any necessary documents as they move through the transaction, with a dedicated, local agent accompanying them every step of the way, from negotiating the price of the property to congratulating them on the purchase and incoming rebate check.
Interested in buying a home in the Bay Area? Browse listings and see how much you can save with Prevu’s Smart Buyer Rebate.
Prevu Real Estate, Inc. is a licensed real estate broker in California, license number 02134758.
Photography by: Torehan Sharman on Unsplash
