- How can I get paid for buying a home?
- How do real estate agents get paid? What is the offered rebate based on?
- How does DoorFly work?
- What does “rebate” mean on DoorFly?
- How much does it cost to use DoorFly?
- Why would real estate agents even want to rebate back a portion of their sales commission?
- What if the agent I selected asks me to sign an “exclusive representation agreement”?
- What if the agent doesn’t follow through with her promise to rebate?
- Is rebating allowed in all U.S. states?
- How can I get paid for buying a home?
DoorFly.com provides a marketplace where home buyers can review the services of real estate professionals. These real estate agents are willing to offer you incentives, such as a rebate of a portion of their sales commission to gain your business.
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- How do real estate agents get paid? What is the offered rebate based on?
Buying agents are typically paid 50% of the commission that the seller is paying.
For example, if a home is being sold for $200,000 and the seller agrees to pay 6% in agent commissions, 3% of that would go to the "selling" agent, and 3% to the "buying" agent (your agent). This means each agent stands to get $6,000 in commissions on the deal.
If you get a realtor from DoorFly, they will typically rebate some of their commission back to you, the home buyer.
They can do this because:
» Agents want to win your business! DoorFly is much cheaper than all other means of advertising for these agents.
» You, as the buyer of the property, do not determine the percentages of the commission -- the seller does this. Therefore you have no other means of lowering your costs with your buying agent. Rebating is the best way to do this.- top ^
- How does DoorFly work?
You tell DoorFly where you want to buy a home, and how much you want to spend on that home and we match you with real estate agents that best fir your needs and are willing to offer a rebate from their commission at closing.
DoorFly then exchanges your and the agent’s contact information, so that you can work together to find and buy your new home. You and the agent will work out the details of the offered rebate.
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- What does “rebate” mean on DoorFly?
The “rebate” that agents offer on DoorFly is a specific dollar amount from their sales commission that they will give back to you, the buyer, when you close on a home. This must be done after the closing of the home, because the commission paid to the agent is not determined ahead of time. Think of it like a rebate for any other product you would buy at Best Buy™ or any other retailor.
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- How much does it cost to use DoorFly?
- FREE! DoorFly is free for people looking to buy or sell their homes. Our marketplace is free to home buyers and sellers.
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- Why would real estate agents want to rebate back a portion of their sales commission?
When competing for high quality customers, it is common practice for realtors to offer rebates to their clients. DoorFly offers realtors an economic and efficient method of reaching such high quality customers- you!
- top ^ There are no obligations. The decision is yours! Your choice may be based on the factors like rebate offered, years of experience, knowledge of a certain geographic area, or user ratings. DoorFly simply provides the marketplace for you to meet realtors interested in helping you buy or sell you home.
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- What if the agent I selected asks me to sign an “exclusive representation agreement”?
Often, realtors ask their customers to sign a form that states the customer will only work with them for a certain period of time. This is due to intense competition amongst realtors.
If your agent asks you to sign an "exclusive representation agreement," DoorFly recommends you request enough time, such as a couple weeks, to determine that a good working relationship can be achieved In addition, DoorFly stongly suggests you ask the agent for references and set up an initial meeting to ensure that you chose well and a good working relationship can be established.- top ^
- What if the agent doesn’t follow through with their promise to rebate?
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At the initial meeting of home buys/sellers and agent, DoorFly recommends creating a written, signed agreement detailing the promised rebate. DoorFly simply provides a marketplace to bring together home buyers, sellers and agents.
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- Is rebating allowed in all U.S. states?
In some states, licensing regulations prohibit realtors from rebating sales commissions. DoorFly is currently serving 37 states and territories where “rebating” is legal.
Learn more about rebating from the US Department of Justice
If you would like to bring DoorFly to your state, please let us know.
- top ^ How do I close my auction if I change my mind or no longer need an agent?
You may stop and auction at any time. After you sign in, select your auction, for "Activity Summary" view. Select "Edit home details" from the "Auction Details" page. "Close my auction" link is located in the right "Details are Important" box.
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