There are several factors that determine how much, if any, rebate you may receive. The first criteria in determining your rebate is whether a Valu-net REALTOR® showed you the property you want to purchase. It is very important that you begin your home search with Valu-net Realty first. If you start somewhere else and then want to purchase a property shown to you by a REALTOR® from another firm, you will not be able to receive the Valu-net Realty Rebate. The second criteria in determining your rebate amount has to do with the property you ultimately select. The amount of the Buyer Broker Commission available on that property and the ultimate purchase price will determine the Base Amount for figuring your rebate. Valu-net Realty's minimum fee for representing a buyer is $1,450.00. If the Base Amount (the purchase price multiplied by the Buyer Broker Commission) for the home you're purchasing does not exceed $1,450.00 then no rebate will be available. All rebates when applied to the Base Amount are limited by this $1,450.00 minimum fee. Next in determining your rebate is the amount of homes you were shown by your Valu-net REALTOR® . To qualify for the full 50% rebate, the total number of homes shown must be 10 or fewer. Each additional home beyond 10 reduces the eligible rebate by $100.
Let's consider the following set of circumstances to determine a typical rebate: you select a home that you purchase for $175,000; the seller of that home offered a 3% Buyer Broker's Commission; and you were shown a total of twelve homes by your Valu-net REALTOR®. The Base Amount is $5,250.00 ($175,000 @ 3%). Fifty percent (50%) of the Base Amount is $2,625.00 (the maximum rebate). However, your rebate is reduced from this maximum amount by $200 because you were shown 12 homes (12 - 10 = 2) $2,625.00 - $200.00 = Your rebate: $2,425.00.
Another example: you select a home that you purchase for $75,000; the seller of that home offered a 3% Buyer Broker's Commission; and you were shown a total of five homes by your Valu-net REALTOR®. The Base Amount is $2,250; Fifty percent of the Base Amount is $1,125.00; this maximum rebate amount, however, is reduced by $325.00 because of the application of the minimum representation fee limit of $1,450.00. The ultimate rebate in this example is $800.00.