Real Estate REBATES and Real Estate DISCOUNTS are similar, but they are NOT the same. They are similar in that they both result in the client paying a price that is less than the listed price of the property and/or paying an agent commission that is less than the original commission.
Below is a Comparison Chart of the differences between Real Estate REBATES and Real Estate DISCOUNTS:
A real estate rebate is a refund or cash back of the sale price and/or agent's commission, which is credited to the client during or after the sale of the property. During the escrow process, the rebates amount is debited from the agent or broker and credited to the client's total funds.
A real estate discount is a reduction of the sale price and/or the agent's commission before or at point of sale of the property. The client buys the property at the reduced price and/or commission.
IRS Publication 525: Taxable and Nontaxable Income, states: ''A cash rebate you receive from a dealer or manufacturer of an item you buy isn't income, but you must reduce your basis by the amount of the rebate.'' The word manufacturer has been clarified to include ''auto manufacturer,'' ''home manufacturer (builder/broker/agent),'' and other Original Equipment Manufacturers. In layman's terms: COMMISSION REBATES ARE TAX-FREE.
Rebate is applied during or at the end of the transaction; before the Close of Escrow.
Discount is applied at the before or at point of sale; at the beginning of the transaction.
Client pays the full amount negotiated for the transaction. After the commission rebates are applied, the transaction amount is automatically lowered and the client pays less.
Client pays the full discounted price. Nothing more happens thereafter.
Subject to Lender Approval. Subject to federal and state laws. Because the rebates lower the price of the property after-the-fact (at escrow), the lender must approve the rebates if clients is borrowing funds to purchase the property.
Subject to federal and state laws. Lending is based on the before-the-fact discounted amount, so a lender's approval is not necessary.
Rebates are available to specific clients as described in the offer. In general, the rebate is attached to the type of client.
Discounts are available to all clients. The discount is attached to the product or service that is discounted.
Real Estate REBATES are not transferable and can only be used by the specific client in the specific transaction from the specific agent who made the offer. A client who does not meet the requirements can buy the same property without the rebates.
Not applicable because the discount is attached to the property and not the customer. By most state laws, any one buying the property, where they are away of the discounts or not, must be offered the same discounts attached to the property.
Rebate is a sales strategy.
Discount is a marketing strategy.
ROGEE® Real Estate REBATES® are available to all BUYERS and SELLERS of real property (homes, lands, commercial buildings) who become ROGEE clients.
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REAL ESTATE REBATES
Real Estate Rebates (''ROGEE REBATES'') offered by Realtor Rogee Rogers (DRE #02004153) are processed during escrow and are applicable only if you, the client, see the transaction (BUYING or SELLING real property with Rogee) to completion. ROGEE REBATES are subject to State and Federal laws and void where not applicable or allow by law; and are subject to Lender approval if the transaction involves borrowing funds from a Lender. ROGEE REBATES are invalid and withdrawn if rejected by client's Lender. The exact Rebates amount you receive is calculated and determined independently by your Agent. All Realtor Rogee's clients (real property SELLERS and BUYERS) will, at minimum, receive an offer of ROGEE REBATES ranging between 21% to 51% of Agent's commission, GUARANTEED. Unless stated otherwise explicitly, ALL OFFERS EXPIRE at midnight, Pacific Time.