Terms and Conditions
1% LISTING FEE
Commission for the Buyer’s Agent is not included in Edelen & Edelen Realtors’ 1% Listing Fee. Sellers typically offer 2% – 3% cooperating commission to the Buyer’s agents to encourage them to show the Seller’s property to prospective buyers. This commission must be added to Edelen & Edelen Realtors’ 1% Listing Fee to determine the total commission percentage paid at closing by the Sellers.
Edelen & Edelen Realtors’ 1% Listing Fee is subject to a $1,500 minimum net commission. The Buyers’ agent also receives a commission at closing that is in addition to Edelen & Edelen’s 1% Listing Fee and is not subject to the $1,500 minimum unless otherwise agreed in writing.
To be eligible for Edelen & Edelen Realtors’ 1% Listing Fee, Seller(s) must be under contract with Edelen & Edelen Realtors granting Edelen & Edelen Realtors an Exclusive Right to Sell their real estate.
1% BUYERS REBATE
Edelen & Edelen Realtors will rebate to the Buyer 1% of the Buyer’s Agent Commission (also known as Coop Commission or Cooperating Agency Commission), subject to receipt of Cooperating Buyer Broker Commission from the Listing Broker. Final Rebate amount will be based upon the final purchase price, less any taxes or fees imposed upon the Buyer’s Agent Commission at closing.
The Rebate is subject to a guaranteed minimum net commission of $1,500 to Edelen & Edelen Realtors. Edelen & Edelen Realtors be paid no less than $1,500 net of all other charges imposed at closing, including the !% Buyers Rebate. Any shortage that may occur will be deducted from the Buyers’ 1% Buyers Rebate.
To be eligible for the 1% Buyers Rebate, Buyer(s) must use Edelen & Edelen Realtors as their exclusive Buyers Broker. If the transaction does not close or if Edelen & Edelen Realtors does not receive compensation as the Cooperating Buyer Broker, no Buyer Rebate will be due.
LENDER APPROVAL MAY BE REQUIRED
Some lenders or government loan programs may not allow Buyer Rebates in full or in part from the Realtor. We strongly advise buyers to talk with their lender in advance about their anticipated Buyer’s Rebate. The 1% Buyers Rebate will be reduced (or eliminated) as required by the Buyers’ lender, if applicable.