How do I get cash back for buying a home or other real estate?
When My Dog Tess represents you as your buyers agent, we will earn a commission from the listing agent when you buy your property. Tess will split the commission she earns with you. It's that simple.
Is it legal to give a buyer a cash rebate at closing?
Yes, it is legal in North Carolina to compensate a principal in a real estate transaction even if they do not have a real estate license. My Dog Tess confirmed this fact with the North Carolina Real Estate Commission.
Can I apply my cash rebate against my closing costs?
Yes. As long as the disposition of the rebate is shown on the closing statement, you can do whatever you want with the money. Your My Dog Tess agent will ask you if you would like your rebate paid outside of closing, with a check made payable to you, or applied against your closing costs.
Can My Dog Tess really sell my property?
In short, yes we can and we can save you money. My Dog Tess has been in business for over sixteen years. We are consistently ranked in the top firms in the area based on transaction volume and we have completed transactions with every major brokerage in the area. See the "Tess Results - Did You Know?" page for detailed information.
If I use My Dog Tess to list my house, what do I pay the Realtor who finds a buyer for my home through the MLS?
Depending on which county you're in, you pay 2.4% - 3% of the agreed sales price to the buyers' agent at closing.
What if I find my own buyer?
If you sell your house yourself, with no buyers agents involved, you pay no buyer agent commission under our $500 program. Under our full service program you pay only the listing fee and we will handle all the back and forth with the buyer.
The majority firms will charge you the buyer agent portion of the commission even if the buyer does not have a real estate agent. So even if you find a buyer on your own, the real estate firm will still charge you a fee.
My Dog Tess does not charge you when another agent is not involved, and, under the full service option, we will still do all the back and forth negotiations with the unrepresented buyer.
Will agents from the larger firms show my home to their clients?
Some sellers fear that they will be "black balled" by traditional firms. Our experience and sales history show that buyers' agents do not discriminate against our sellers - agents are interested in making a living and you're offering a commission that is at or above the market rate (while still saving money). In addition, the modern home buying process is largely buyer driven. Ninety percent of home buyers start their search on the web. The majority of buyers tell their agents which houses they want to see after previewing them on the internet - regardless of the listing company.
Some agents try to get our clients or potential clients to press the "panic button" by telling them their house will not sell with My Dog Tess. Don't believe it; if the process didn't work, we'd be out of business - not growing by leaps and bounds. See the "Tess Results - Did You Know?" page for detailed information.
What are the differences between the My Dog Tess Full Service program and listing with other "traditional" firms?
There are three main differences. 1) We charge less in fees, 2) We do not offer any print advertising, and 3) If an unrepresented buyer wants to purchase your home, you do not pay a buyers agent commission.
Item 1 - Self explanatory – pay off your mortgage, not your realtor.
Item 2 - We will place print ads for you if you wish, at your cost, but we have found it totally unnecessary.
Item 3 – The majority of all firms will charge you the buyer agent portion of the commission even if the buyer does not have a real estate agent. So if you find a buyer on your own, the real estate firm will still charge you a fee. My Dog Tess does not charge you when another agent is not involved, and we will still do all the back and forth negotiations with the unrepresented buyer.
What's included in the $500 flat fee program?
My Dog Tess will: list your property in the Multiple Listing Service, list your property on Realtor.com, Zillow, and the thousands of websites that pull data from the Multiple Listing Service (including the websites of all local firms), provide a professional yard sign, provide a lock box, provide access to the appointment call center to handle showings, provide you with every North Carolina Association of Realtors real estate Form that may be needed, and provide you with a detailed manual outlining the sales process. The listing lasts for one year (or until the property is sold) and you always have the ability to upgrade to full service (and have the $500 fee applied to the full service fee that will be paid at closing).
Where on the internet will my listing appear?
Through the data distributions agreements that the Multiple Listing Service maintains, your listing will automatically be transmitted and appear on thousands of websites including the major sites like Realtor.com and Zillow. This distribution network is the same no matter which firm lists a property as long as the property information is input into the Multiple Listing Service. In short, every real estate firm's internet marketing on third party sites is the same; it is driven and controlled by the Multiple Listing Service.
Will My Dog Tess hold an Open House for my property?
It depends. Typically we do not hold open houses. While we do not require our agents to hold open houses, some of our agents are willing to do so.
It is an industry secret that open houses are designed to generate business for the agent on duty – selling the home is secondary. In addition, there are safety and liability concerns with open houses.
We will always, however, schedule an open house for you in the MLS and on the internet if you would like to hold an open house.
Thank you, Jan, for all your help on this. I would recommend MDT for any seller. Your service has been exceptional.