You Could Get a Rebate for Buying a Home Without an Agent

One website is offering a closing-cost rebate to homebuyers who do their own work when shopping for a home. Find out how it works.

The Internet has made it easier than ever for potential homebuyers to find a home without involving a Realtor. Now, doing the homework yourself may qualify you for a rebate on a home purchase.

Owners.com, which features a large database of homes for sale across the U.S., is now offering brokerage services. The company will rebate up to half of its commission (or a max of 1.5 percent of the purchase price) to homebuyers who use its site to purchase a home in select states.

In a statement, Steve Udelson, president of Owners.com, said:

“Consumers should be financially rewarded for the work they do themselves when buying or selling a home, which millions of people are already doing today. We’re providing a team of expert real estate agents who can help consumers navigate the complex real estate transaction process and offer great incentives for both buyers and sellers when they handle some of the work on their own.”

According to the Owners.com website, rebates are available for qualifying houses purchased in:

  • California
  • Florida
  • Georgia
  • Illinois
  • Massachusetts
  • New Hampshire
  • New York
  • North Carolina
  • Ohio
  • Pennsylvania
  • South Carolina
  • Texas

A 2014 California Association of Realtors Home Buyer Survey revealed that today’s homebuyers spend more than five months searching online for a home. Nearly half (45 percent) of buyers said they found the house they ultimately purchased by themselves.

Owners.com said this is an example of how a homebuyer could benefit from the rebate:

… a buyer who shops thoroughly over a period of months, scouring multiple online sources and visiting neighborhoods, and who decides on a property, looks at comparable sales, and has an offer in mind, may just need help documenting the offer and closing the deal. From Owners.com they can receive transaction assistance that goes from offer to closing, and Owners.com will rebate half of its commission to them in select states.

On a $300,000 home, a homebuyer could potentially receive a rebate of $4,500, which would be applied to the buyer’s closing costs.

Check out “Home Buying 101: How to Choose the Best Mortgage Option for You.”

7 Dumb (Expensive) Moves Homebuyers Make” also has some great tips for potential homebuyers.

Have you purchased a home without a real estate agent? Share your experiences below or on our Facebook page.

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