Commission Rebate Program & Details
Whether Buying or Selling who wouldn’t want to get a check after closing?
For decades CNY real estate brokers have followed the same traditional commission plan charging on average 6 to 7 percent total commission based on the purchase price agreed to through the Listing Contract. The listing broker then offers cooperation (typically 50% of the total commission) through the MLS to cooperating Buyer Agents. If the buyer does not have representation the listing broker would keep the entire 6-7% commission.
We feel it’s time for change. When you work with one of our agents, representing you as a buyer’s agent or seller’s agent, we rebate a percentage of the commission (minimum of 10%) we receive at closing. We understand that there is no one size-fits-all transaction and so we evaluate the salient details of each sales transaction and present a tailored proposal considering a number of factors, including the home’s market value and local market conditions.
How are we able to offer rebates? By using the latest real estate technologies, keeping our overhead low and deciding not to pay franchise fees to national marketing companies, that typically take 8-10% to the commission. We see little value in using another companies name to market CNY properties…we see no value in sending thousands of dollars to corporations in the mid-west or New Jersey for selling CNY Homes…we prefer to pay those fees to our fellow Central New Yorkers and keep those dollars here in CNY. For details and information on our programs call today to schedule an appointment with one of our REALTORS®.
We are a local independent real estate company with over 50 years of combined residential real estate experience. Our agents have experience handling both residential resale and new construction located in the city, the suburbs, and rural properties. We are members of the Greater Syracuse Association of REALTORS® (GSAR), the New York State Association of REALTORS® and the National Association of REALTORS® (NAR).
Rebate Terms, Disclosures and Limitations
Subject to the following limitations the Listing Company of CNY, Inc. (LCCNY) Rebate will be paid within 5 business days of closing and after all commissions due to LCCNY have been paid.
The payment of cash or offering an incentive to encourage a consumer to do business with a broker is permitted pursuant to Section 442 of the New York Real Property Law. The Listing Company of CNY, Inc. (LCCNY) rebate is subject to adjustment or cancellation if the commission received by LCCNY, from either the Seller or cooperating broker is less than 2.5% of the property sale price or commission paid is less than one thousand five hundred dollars, the commission amount provided to LCCNY changes after the signing of a buyers agreement or must be shared with additional parties and if the subject property is purchased as a short sale. In some cases, buyers Lender and/or certain mortgage/loan programs may prohibit buyer from receiving rebate. Buyers should disclose to their lenders, in advance, the potential of receiving a LCCNY rebate after closing. LCCNY will only issue a rebate to the person(s) listed on the Buyers Agreement, Listing Contract and on the recorded deed which transfers ownership. Rebate does not apply to previously closed transactions. Rebate not available for short sales, foreclosure sales, auctions, or HUD sales.
Homes for Sale
Search for homes for sale in CNY. Our feed is direct from the GSAR MLS, the same IDX feed that supports all of the major real estate websites. Ours however is updated every few minutes. Updated information saves you time and disappointment with homes that are already sold.
PrimeLending is a Mortgage Lender. PrimeLending and Listing Company of CNY, Inc. are not affilated.
What is My Home Worth?
We provide (free of charge to you) ePropertyWatch™ an automatic valuation tool that provides you with monthly updates on changes in your home’s value and activity in your neighborhood. Click on the informational video below for a full description. Sign up for the service below and cancel anytime.