How to Get a Commission Rebate in Washington D.C.

Few things can build a homebuyer’s confidence as effectively as saving money. 

Amid D.C.’s world-famous museums and monuments of American history are some of the most sought-after homes on the East Coast. Those homes naturally come with an expensive price tag.

And with some of America’s most revered political institutions continuously making the nation’s capital a sought-after place to live, those price tags can sometimes seem unattainable. That’s why savvy D.C. homebuyers have found a tool to help solve that issue: commission rebates.

What are commission rebates in Washington, D.C.?

A commission rebate, also known as a buyer rebate, is a modern real estate tool that enables experienced and first-time buyers to save thousands of dollars when buying a home in D.C.

Modern online brokerages like Prevu utilize rebates to empower buyers craving a change from an outdated real estate process. 

In a traditional homebuying transaction, a seller usually pays their listing agent a 6% commission once the home is sold. That commission is then shared with a buyer’s broker representing the buyer. Yet only the buyer comes to the table with all the money, while both agents walk away with ample earnings.

Prevu invests in digital online tools and salaried agents to enable buyers to receive a portion of the brokerage’s commission for representing them.

The company’s Smart Buyer Rebate can total up to 1% of the home purchase price. These extra savings become the easiest way for D.C. homebuyers to help make their  home purchase more affordable.

Commission rebate in Washington, D.C. ($1,000,000 example)

• Purchase price: $1,000,000
• Seller’s Agent Commission (3% of sale price): $30,000
• Buyer’s Agent Commission (3% of sale price): $30,000
• Homebuyer rebate: $10,000

Work with an agent that offers commission rebates

Brokerages that offer rebates all work differently. If you plan on taking advantage of a commission rebate in D.C., look for a brokerage that specializes in rebates and combines them with professional service.

Your agent should have extensive knowledge of your preferred neighborhoods and experience with the price points you’re looking for. They should also offer online tools that streamline communication between buyer and agent and help make the home search easier. Finally, they should offer a commission rebate. 

For example, Prevu currently offers the largest rebate in Washington, D.C., and enhances this tool with a digital homebuying platform.

The platform allows you to browse listings freely based on your specific criteria. Any listing that piques your interest comes with a transparent preview of the potential homebuyer rebate. 

If you find a listing that checks everything on the list, you can instantly reach out to an agent via messaging to discuss the property's details. From there, the process is straightforward and culminates in a rebate check once a deal is closed.

You can schedule a property tour with the click of a button, and your dedicated agent can accompany you on the tour and help scan every important detail before you commit to the purchase. 

You’ll then work together to craft an offer and negotiation strategy that best suits your needs. Once the deal is closed, you can expect a rebate check within a few days. 

Modern home buying process unlocks savings

We mentioned earlier that saving money gives D.C. homebuyers confidence. Commission rebates are an effective way to save, but there’s a reason they’re such sought-after tools.

If you work with a brokerage like Prevu that gives you a clear estimate of the rebate you can expect, it can increase your purchasing power and allow you to make a more substantial offer. Knowing you stand to save thousands of dollars after purchasing a home can help you feel more secure in offering more money.

A rebate can also help offset one of the most expensive parts of a home purchase: closing costs. Most buyers work hard enough already to set aside money for a down payment but may overlook the savings needed to handle closing costs comfortably. Commission rebates make that task a lot easier. 

Ultimately, a homebuyer rebate is extra money in your pocket. So even if you sailed past the closing costs and down payment, you’ll still have a brand-new D.C. home to furnish, and a rebate can serve as your new furniture budget.

Interested in buying a home in Washington DC? Browse listings and learn how much you can save with Prevu's Smart Buyer Rebate.