"Setting the New Standard in Client Service"
Are you buying a home? See how you will get Paid-2-Buy!
Traditionally, when sellers list their home they offer to pay a percentage of the selling price to the agent who lists the home as well as the agent who represents the buyer. Since this percentage is negotiable between the seller and the listing agent, we will use, as an example, a percentage of 3% to each agent, for total of 6% on the transaction.
When you, as a buyer use a Paid-2-Buy Agent to assist you in your purchase, we rebate to you 1/3rd, subject to the Paid-2-Buy $3,000 minimum.
As an example, if you located and purchased a home that sold to you for $200,000 using a Paid-2-Buy Agent, the seller could potentially give your Paid-2-Buy Agent a commission totaling $6,000 at the closing.
Paid-2-Buy would keep 80% of the commission = $4,800
Paid-2-Buy would give YOU the remaining 20% = $1,200
Another example would be if you located and purchased a home that sold to you for $180,000 using an Paid-2-Buy Agent. Assuming the seller was offering the buyers agent, in this case, YOUR Paid-2-Buy, 3%, the commission paid by the seller would be $5,400.
Paid-2-Buy keeps = $4,320
Paid-2-Buy rebates YOU the balance = $1,080
You should consult with your tax attorney for the most recent updates to the IRS Code, to determine if this is taxable income.