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Category Archives: Uncategorized
Is it legal for a real estate agent to split a real estate commission?
Depends on with who! Here in Colorado, under CP-13, brokers can share, split, or rebate (as I like to say) their commission with the buyer, but just not with a disinterested third party. Of course, brokers also can and do … Continue reading
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Average real estate commission in Colorado.
Some home buyers ask me how much real estate commissions are in Colorado. And while I don’t have access to the specific averages, I can tell you that the 6% commission is still the standard starting point here. In Denver … Continue reading
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New construction is way up!
Commerce Department reports that new housing starts in September were up 34.8% from last September! …..a sign that confidence in the housing market is increasing…if not strong…..consistent with most anecdotal evidence among Colorado real estate markets. New construction in the … Continue reading
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Just had client whose cash at closing number was one third less due to my commission rebate!
Closed a smaller deal in Denver yesterday, where my real estate commission rebate was only around $2800, BUT his cash at closing number on his FHA loan was only around $5500….when it would have been $8375 without my buyer rebate!
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National Association of REALTORS® reporting rebound
Existing home sales in August 2012 reported rose 7.8% in August….the strongest month since May of 2010.
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Potential Limits to Commission Rebates
Most lenders, presumably following some federal regulation, will limit the amount that you can receive back (via a commission rebate or buyer rebate) to an amount not to exceed your closing costs and pre-paids. This generally is not a problem … Continue reading
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Sale of New Homes Jumps Big this summer
Census Bureau reporting that new homes sales in July jumped 26% from same time period last year. That’s huge…and consistent with the increase in inquires that I have gotten about new construction around the Denver area the last couple months…in … Continue reading
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Real estate agent reviews? There must be ratings for real estate agents, right?
This summer Smart Money magazine did an article on the matter of real estate agent reviews. Interestingly, no organization or website, has really emerged as the “go to” spot for rating real estate brokers and agents. However, on the few … Continue reading
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Broomfield real estate trend….keep it coming!
Metrolist (the largest real estate MLS in Colorado) reported a sharp drop in housing inventory in Broomfield this summer versus last, with 414 homes listed for sale in June 2011 compared to 237 homes in June of 2012. That is … Continue reading
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you can’t do that!
I recently had a REALTOR® on the “other side of the table” tell me that I can’t rebate half of my commission back to my buyer…saying it’s illegal (and that they are limited to $25 gifts going back to the buyer!) … Continue reading
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