October 2nd, 2012
2849 Crater Lake Lane is available from McStain Homes in ever-popular Indian Peaks in Lafayette. This 4 bed, 4 bath, 4200 square foot custom home is on the market now for $608,305.00. Real-a-Save clients will receive a rebate from us at closing of approximately $8,516.00. See all the details of our Colorado Home Buyer’s Rebate here.
If you haven’t been inside a McStain home before then now’s the time. Indian Peaks South sits on the southwestern corner of the Indian Peaks neighborhood nestled within wonderful Indian Peaks Golf Course, and only moments from beautiful and bustling downtown Louisville.
2849 Crater Lake LN is available for your customized touches, upgrades, and styling choices. Give us a call at 303-415-2541, or shoot us an email at firstname.lastname@example.org if you’d like to take a tour of this home or if you have any questions about our home buyer rebate.
Remember, Real-a-Save is the place to get expert home-buying and home-selling advice, as well as huge savings in the form of our tremendous cash rebates. Call us today! 303-415-2541.
September 27th, 2012
Louisville remains one of the strongest markets in the Metro Denver real estate world with well-priced homes in good locations going under contract very quickly.
987 Treece St in Louisville is an beautiful new property on the market in Louisville, available for 615k.
And remember, when you use Real-a-Save as your Buyer’s Agent you receive half of our commission at closing, that’s a whopping $8,610.00!! See all the details of our Denver and Boulder commission rebate program here.
Or, simply email me at email@example.com, or call 303-415-2541.
September 25th, 2012
In case you missed it, HUD definitively stated their position on the issue of real estate Brokers rebating a portion of their commission to clients. For the record: it’s legal,does NOT violate RESPA, and simply needs to be disclosed on the HUD-1 lines 204-209.
The reason I bring this up again is because we hear from various parties from time to time that rebating is somehow illegal, that it somehow violates RESPA, that it’s wrong, etc. Those comments normally come from uniformed brokers working in the “Traditional” side of the real estate world. It’s nice to finally have a place to point those folks. Here’s the link to HUD’s own website: Commission rebates are legal and belong on lines 204-209 of the HUD-1 form. (see Highlights “new RESPA rule FAQ”)
Lenders will be slow to recognize this clarification and will likely continue to ask that our rebate NOT be shown on the HUD as each and every lender has their own underwriting department who may or may not be aware of random HUD rule clarifications like this one. We’ll do our best to keep spreading the word.
The cornerstone of our business model here at Real-a-Save involves us rebating a portion of our earned commission back to our clients. Since 2007 we’ve given hundreds of thousands of dollars back to Denver and Boulder real estate consumers in the form of these rebates thus lowering overall real estate costs for consumers. Different? Yes, but there are many different types of buyers and sellers out there and options are always nice. It’s one of the oddities of the real estate world that choice is viewed as a negative when shopping for real estate services. Our industry has not been quick to embrace new business models and the vast majority of real estate transactions are still done by traditional firms.
It seems likely that rebaters, discounters, limited-service shops, and other non-traditional real estate brokerages will continue to operate as niche players only. I once believed that the Internet would be a “game changer” when it came to alternative business models for real estate. I no longer hold that opinion. I believe that brokerages like Real-a-Save will continue to thrive on the margins, catering to a very specific type of buyer and seller. And that’s ok. (the “why” of this conclusion is interesting and likely has more to do with psychology than anything else) As long as there continues to be choice for consumers and the regulating bodies who govern the real estate world offer clearly stated positions (like HUD’s statement herein) about the rules then we’ve got nothing to complain about.
February 19th, 2012
Real estate brokeraget Redfin announced that they’ve made a change to their business model via an increase in services along with an accompanying decrease (by approximately 16%) of their rebate. From what I understand they’re going from around 50% rebate to a range of rebates depending on the price of the home. CEO Glenn Kelman provides this example:
Under Redfin 3.0, we now offer a fixed-dollar refund for each listing. As a percentage of the sale, this amount increases with the home price. We refund about 25% of whatever we get for a $300,000 home, resulting in a roughly $2,000 commission refund
Sticking with Kelman’s $300,000.00 range (prices from 300-399k) I found the following examples in the Denver real estate market:
- At $300,000 we have 3163 W 40th Ave, Denver, CO: Redfin’s rebate is $1,817.00 or 21.6%, while Real-a-Save’s rebate is $3,900.00 or 46.4%.
- At $325,000 we have 4935 Beach Ct, Denver, CO: Redfin’s rebate is $2,163.00 or 23.7%, while Real-a-Save’s rebate is $4,550.00 or 50%.
- At $350,000 we have 1440 Little Raven St #302, Denver, CO: Redfin’s rebate is $2,540 or 25.9%, and Real-a-Save’s rebate is $4,900.00 or 50%.
- At $375,000 we have 2401 York St, Denver: Redfin’s rebate is $2,946.00 or 28%, and Real-a-Save’s rebate is $5,250.00 or 50%.
- At $399,900 we have 738 Ash St, Denver: Redfin’s rebate is $3,336.00 or 29.7%, and Real-a-Save’s rebate is $4,839.00 or 50%.
The averages from above:
Redfin would rebate their clients an average of $2,560.00 or 25.78%. Real-a-Save would rebate our clients an average of $4,839.00 or 49.28%.
I like Redfin
I love what Redfin tried to do with their controversial Agent Scouting Reports a few months ago and feel that they were unfairly maligned. I know that when I contacted them about some irregularities in their numbers they immediately reached out and tried to fix the issue. It was a doomed effort, unfortunately, but that was not entirely Redfin’s fault. It had more to do with the difficult to track MLS data including team efforts vs. individual agents; new construction sales, etc.
I think that the reduction in rebate and shift towards a higher touch agent experience at Redfin was inevitable for a couple of reasons. The reduction in rebate is likely a result of Redfin’s high technology costs as well as pressure from their VC investors to increase profits. The increase in agent services is probably a result of surveys from previous clients. Yes, buyers want to do SOME of the work on their own, but they also like to work with the same professional agent every step of the way.
There was a time when I thought that rebating and discounting was going to take over the real estate industry. That was naive thinking on my part. I think rebating and discounting is a niche market and is likely to remain just one of the options available to consumers. Options are good, and I think that the real estate industry has benefited from companies like Redfin. Redfin has pushed the envelope and kept us talking about the inner workings of the mysterious and closed world of real estate. And that’s a good thing.
July 28th, 2011
We’re looking to expand to the Fort Collins market. If you’re a Realtor in the Fort Collins area and are interested in joining our team then please email or call me, firstname.lastname@example.org, 303-415-2541.
Managing Broker, Real-a-Save
July 22nd, 2011
We’re thrilled to announce that Real-a-Save is hiring Realtors in the Centennial and Parker markets.
Give me a call or email to discuss what we have to offer, but the bottom line is that you’ll be working for the absolute BEST rebate and discount broker in the Front Range. I love this company and am excited beyond belief to share what I’ve learned over the past 4 years with our new recruits.
Give us a call! Can’t wait to hear from you.
Managing Broker, Real-a-Save
March 1st, 2011
I was watching the Oscars the other night with my wife and couldn’t help but feel a sense of surprise and sadness when the director for Inside Job commented during his acceptance speech that it has been 3 years since the financial crisis and not a single one of the big players at the financial institutions who likely caused the financial crisis has been held accountable. Let that sink in for a minute.
They were nice enough to take our tax dollars offered up so quickly by “American Hero” Paulson and company, and then they quickly stopped lending money to small businesses and homeowners alike. Any rookie Realtor could have negotiated a better deal with the Big Banks than these mutts did. They basically gave away our money with no strings attached. Nice job, guys.
And last year we come to find out that the Big Banks may have committed Mortgage Fraud and have generously given us yet another iconic phrase to add to our collective vocabulary to go along with derivative, mortgage-backed security, and Madoff: enter Robo Signing.
Since all real estate is local I’ll get tot he point: I’m still seeing some fallout in the Denver and Boulder real estate markets from the latest rotten gift from our banking buddies. Where I was previously seeing some first-timers jump into the market and gobble up a foreclosure or two, I’m now seeing that trend grind to a halt. Experienced investors are tentative as well. There are so many unknowns when you buy a foreclosure property that when we now add chain of title to the mix it’s just too much for some to handle.
So, thanks Big Banks. We’re basking in your generous dividends. Part of me really hopes that The Aussie has something up his sleeve for you.
April 8th, 2010
Well, it’s about time. The FHA will now allow digital signatures on all third party documents. Third party documents include real estate contracts.
Congratulations to Ken Moyle and the entire DocuSign team for leading the charge. It was a long battle, but the good guys have prevailed!
Here’s the link to the mortgagee letter if you’re interested. We loves us some DocuSign here at Real-a-Save. They’re simply the BEST digital signature company on the planet.
If you’re a Realtor and you’re still using one of those cheesy free digital signature providers which look like you used your feet to sign your name, then I’d encourage you to give DocuSign a try. In my humble opinion, DocuSign is a vastly superior product for a very low price. Here’s a link to their site if you’re interested: DocuSign.
Feel free to email email@example.com if you have any questions about Denver or Boulder real estate.
April 2nd, 2010
The $8,000 tax credit is set to expire very soon. Buyers must be under contract by April 30, 2010.
The consensus seems to be that Congress will not renew the tax credit. I’m torn between wanting our country to pursue responsible fiscal policy and reducing the national debt, and wanting this tax credit to continue as I’ve seen first-hand the effect it’s had on the market.
Buyers I’ve been working with are quite aware of the tax credit. It remains to be seen what happens to the market after the tax credit expires.
The good news is that we’re entering the traditional busy season in real estate, so it’s likely that the tax credit expiration will not have a measurable effect on the number of contracts given that we’re entering the spring/summer strong season. Final analysis will likely have to wait until next year.
Call or email firstname.lastname@example.org if you have any questions about the tax credit, or Boulder or Denver real estate in general.
November 17th, 2009
Did you know that the Colorado Contract to Buy and Sell Real Estate specifies in paragraph 10.8 that carbon monoxide detectors must be installed in the subject property?
If you are a home seller with their house currently on the market in Colorado, be sure that you have carbon monoxide detectors installed within 15 feet of each bedroom, or in a location as required by the applicable building code.
If you’re buying a home and notice that it does not have carbon monoxide detectors, you should understand that it’s the sellers obligation to install the detectors at their cost. You should not be tricked into thinking that installation of carbon monoxide detectors is one of those negotiable items on your Inspection Objection Notice.