Home Sellers
Frequently Asked Questions
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Q. What is HomeGift Rewards?
A. HomeGift Rewards allows all home buyers or sellers to get cash back using any real estate agent — while supporting a favorite cause or charity at the same time. Participants can also save on mortgage costs.
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Q. How does HomeGift Rewards work?
A. By registering with the program before you agree to hire an agent, you are eligible to receive cash back from real estate commissions after closing. During on-line registration, you decide how much of the rebate you keep or share with your favorite charity. After closing, you get a rebate check and your donation is sent to your non-profit.
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Q. When did real estate companies start offering cash back on commissions?
A. For years, big-brand, established real estate companies like Coldwell Banker and Prudential have been offering cash rebates to members of trade associations, corporate executives and other affinity groups. Now, Homegift offers these same cash back incentives to members of non-profit organizations as a way of encouraging charitable giving. More about HomeGift Realty, Inc.
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Q. Who are the agents HomeGift Rewards works with?
A. HomeGift has worked with agents representing all of the top firms — Coldwell Banker, Century 21, REMAX, etc. – as well as many large and small independent companies. That means we have access to hundreds of thousands of seasoned agents.
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Q. Why do agents agree to this?
A. Agents want to be part of a program that not only benefits you and your favorite charity, but also allows them to get more business. More and more agents are giving up a portion of their commissions in exchange for being introduced through programs like this to millions of other potential buyers and sellers. Agents view this practice as a “marketing cost” to reach more clients.
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Q. Does the program change the way I work with an agent?
A. No. Nothing changes in the way you ordinarily work with an agent. The only thing you have to do is register before you commit to an agent. This allows us to arrange your cash back with the agent you choose.
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Q. As a seller, can I still negotiate commissions myself?
A. You can. As always, you still negotiate the best commission rate you can with your agent. Your rebate comes as an additional savings after you negotiate — a rebate made possible because you are registered with this program. That’s why we encourage you to share some with your favorite non-profit.
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Q. What do I have to do to get my rebate?
A. Nothing. There is no paperwork to fill out or forms to send in. Your rebate is sent to you in the form of a check automatically after closing.
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Q. How does my non-profit get the donation?
A. When you register, you choose the non-profit you want to benefit and how much of your rebate you want to keep or donate. Any donation you choose to make from your rebate is also sent automatically to your non-profit. The non-profit will then send you a written record of the amount you have donated.
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Q. What if I want to find or enroll my own agent?
A. You can. Search online. Ask friends about good agents. But don’t begin serious discussions with or commit to any agent without telling them first that you are registered with this program. Even if you know who you want to use, register here first so we can speak to the agent and arrange your rebate before you commit. You cannot participate if you have already committed to your agent.
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Q. What if I need to find an agent?
A. We will find a top agent for you in your market. Based on your needs, we will set up interviews with several top agents for you. We screen every agent before recommending them to you. Because everyone’s needs, market conditions and preferences are different, different agents work better for different people. That’s why we let you make the choice.
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Q. How do you know what agent is best for me?
A. We have found that personally talking with sellers first works best. When you register, a HomeGift Rewards real estate coordinator will contact you within 24 hours. You tell us a little bit about your situation and your agent needs and we will do the hard work of helping to match you with the right agent.
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Q. How does this happen?
A. Based on your needs, we will set up interviews with several top agents for you. We screen every agent before recommending them to you. Because everyone’s needs, market conditions and preferences are different, different agents work better for different people. That’s why we let you make the choice.
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Q. Does this mean I am going to get bothered by agents?
A. No. No agents will contact you without your approval. You decide when to contact agents. This allows you to be prepared to make the move to hire an agent when you are ready – without getting hassled.
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Q. What if I am buying and selling?
A. You can receive a double rebate — and donate more to your favorite charity — by registering on the buy and sell side of your next transaction.
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Q. Is the payment to my favorite charity eligible for a tax deduction?
A. Yes, if your non-profit is registered with the IRS. (You can check your non-profit’s status at www.guidestar.org.) After your donation is sent, your charity will send you a written acknowledgement of your generous gift for your records. Remember: the tax deductible status of any contribution also depends on your personal circumstances. If in doubt, please contact your tax professional for advice.
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Q. Does this program work in every state?
A. HomeGift Rewards is available in most states. There are
10 states that prohibit rebates. Also, you cannot combine this program with
any other program that offers rebates on real estate commissions.
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