If you’re interested in saving money with a NYC buyer commission rebate, it’s essential that you work with a reputable and experienced broker who will provide you with great service. So how do you choose the right company to work with? Here’s a look at companies that offer commission rebates in NYC.
Unlike other companies that offer rebates, PropertyClub is not a brokerage. They are primarily a real estate portal, but they also offer a service in which they introduce interested buyers to qualified rebate brokers. They work with most of the other companies on this list and can ensure you work with the most experienced agent in a neighborhood.
Another advantage of PropertyClub’s service is that they negotiate better terms for buyers, advertising a rebate of up to 2.25%. They’re able to do this because they serve dozens of buyers each month as a major portal.
As a major listing site, PropertyClub also offers buyers an excellent real estate search experience.
Yoreevo is one of the newer rebate companies on the block, but they boast a solid track record. They typically offer a respectable 2% rebate, although they do have a minimum fee in place. That means you’ll want to purchase a home priced above $700,000 to see the full rebate. Although they serve all of NYC and Long Island, Yoreevo is primarily focused on properties located within Manhattan and Brooklyn.
In terms of service, you can expect a boutique experience with Yoreevo. They are great when it comes to working with first-time homebuyers or newcomers to NYC. Yoreevo is a great option for buyers who are early in the process as well as their website offers a great search experience.
While not as tech-enabled as some of the other companies on this list, NestApple is well-known for its excellent and personal service. The company also prides itself on its broker’s negotiating skills, which save buyers additional money.
As with most other NYC rebate brokerages, NestApple offers a 2% or two-thirds commission rebate. Best of all, they don’t have the high minimums you see with some other rebate brokerages.
Another nice thing about NestApple is the fact that they work with buyers over a large geographic area. Besides representing buyers throughout NYC, NestApple also works with buyers in Long Island, Westchester, Connecticut, and the Catskills.
Prevu is one of the oldest and larges commission rebate companies in NYC. They’ve been very successful, expanding from NYC to Long Island, Westchester, Connecticut, and now Boston and Philadelphia.
While Prevu has a great reputation and solid technology that makes it easy for buyers to browse homes, their focus on technology means a less personal approach and agents that are at times less experienced than competitors. Prevu’s commission rebate is typically 2% of the purchase price, but they do have minimums in place, meaning the home should be priced at $750,000 or more for you to see the full rebate.
Smaller NYC Commission Rebate Companies
There are a handful of other commission rebate companies in NYC, and more seem to be popping up each year, but most are smaller and less experienced, or they maintain a minimal online presence.
NYC Commission Rebate Brokers to Avoid
While most rebate companies in NYC are great, there is one that has a less than stellar reputation within the real estate industry. That company is Hauseit.
Whenever I speak with a buyer that had a bad experience with a rebate broker, it’s almost always due to having worked with Hauseit. But I guess that shouldn’t surprise me, considering the company with a history of making false and misleading claims. In my opinion, Hauseit is by far and away the least reputable commission rebate company in NYC.
So what exactly is the deal with Hauseit? Currently, Hauseit operates as a real estate brokerage, but the story was different in the past. Hauseit initially operated as a sort of referral platform. They made misleading claims that this was necessary, selling buyers a tall tale about how traditional listing agents would avoid working with rebate agents. This is simply untrue, as listing brokers are required to work with and accept offers from rebate brokers, a fact evidenced by the hundreds of millions of dollars of NYC real estate bought each year with the other rebate brokers on this list.
When it comes to choosing a real estate brokerage, you want to work with someone you can trust, and Hauseit is not trustworthy in my book.