Things to look out for in your agent's contract
1. Before you receive a refund, certain buyer refund policies stipulate that the agent must earn a specific amount of commission.
2. The brokerage will determine how you receive rebates, but they should all come from the gross commission. Others will apply your rebate to your closing costs, while some will offer you a check at closing.
3. Be advised that if you tour more than "x" number of homes, some brokerages will reduce the amount of your return.
4. And finally, certain brokeragesonly offer rebates if your purchase price exceeds a certain threshold.
Be sure to thoroughly study the small print of your signed contract with your agent because these conditions are typically buried somewhere in there.
