Why Buy With Us
Not only are our partners some of the most reputable and experienced real estate brokers in the city, they have their reputations intact because they never openly discount their services. As a result, you’ll never have to worry about other agents treating them or you any differently.
Helping New Yorkers Save Money Without Disruption Since 2014
We’ve helped buyers just like you save millions of dollars on home purchases since we opened our doors in 2014. We pair you with an experienced, brand name, local partner broker who will not only provide you with great advice but who has already agreed to discreetly write you a check for up to 2% of the purchase price. Best of all, because our partner brokers never openly discount their services, you’ll never have to worry about your broker disrupting your deal rather than the industry.
Why sign up for a NYC Buyer Agent Commission Rebate?
Reduce your closing costs
Discreet check post closing
Avoid disruptions to your deal
Experienced and reputable brokers
No contracts or exclusivity
It's free to work with a buyer's agent
How Much Could You Save with a NYC Buyer Agent Commission Rebate?
Home buyers can save up to 2% of their purchase price on the average New York City apartment with a NYC Buyer Agent Commission Rebate. That means you can eliminate or substantially reduce your closing costs in NYC while receiving free assistance from one of our experienced partner brokers.
Better yet, a NYC Buyer Agent Commission Rebate is completely legal and non-taxable. Just ask the New York State Attorney General and the IRS. You can earn a Hauseit Buyer Closing Credit on virtually any listing in the city. So don’t let a listing agent bully you into dual agency so they can earn double commission! Sign up today to learn more!
Proven Results, Happy Customers
Jason S., Bought NYC Coop April 2018
I used their services to purchase and I could not have been more pleased. I was able to work with a team of agents who were very responsive, helpful and transparent throughout the buying process. I loved the transparency as I like to be involved every step of the way. Excellent experience and I would definitely recommend to others looking to purchase!
Juliette L., Bought LES Condo July 2017
Not only did my broker help me identify and purchase a condo in Manhattan, but they also helped me find a tenant in just a few weeks after we closed on the property. We were continually impressed by our broker’s never-failing, speedy responses; incredible work ethic, pragmatic, well-informed approach; enthusiastic, polite, positive, professional attitude!
Angel Li, Bought NYC Coop Dec 2016
They were extremely helpful throughout the entire process! As first time home buyers, we were unfamiliar about the actual process and they gave us guidance from the search to the closing. They provided recommendations that fit within our guidelines, contacted sellers to schedule viewings, helped organize the co-op board package, prepared us for the interviews, etc.
NYC Buyer Agent Commission Rebate FAQ - Frequently Asked Questions
Why aren't NYC buyer agent commission rebates more common?
Savvy buyers understand that there’s no such thing as a free lunch. There’s a reason why buyer agent incentives aren’t more common. That’s because listing agents are loathe to split commission with discount brokers. It already stings to have to split commission, why put salt on the wound by also hurting the industry? Plus, there’s no point in getting any incentive if it’ll make the seller resentful. Why would you want the seller to feel like he or she is paying you commission?
So how does one safely and discreetly receive a commission incentive from their buyer’s agent without jeopardizing their deal? By working with one of Hauseit’s brand name partner brokers who never openly discount their services and tarnish their reputations. As a result, our traditional, full-service partner brokers have great working relationships with the real estate community.
Can I sign up if I'm already working with a buyer's agent?
Yes! As a home buyer in NYC you should never sign an Exclusive Right to Represent Agreement which means you are free to switch representation at any time. If you are asked to sign an exclusivity agreement by anyone, you should run! It’s very rare for anyone but the occasional foreign buyer who is heavily dependent on their local representative to have an exclusive buyers agent.
Can I sign up if I've already contacted the listing agent?
Yes! You have the right to choose to work with the agent of your choice at any time. With that said, you won’t be making any friends if you’ve already seen the property with the listing agent and then decide to loop in a discount broker. Fortunately, all of our partner brokers are experienced, established traditional brokers who never openly discount their services. As a result, all of our partner brokers have their reputations and relationships with the wider brokerage community intact so you’ll never get treated any differently.
Simply copy our partner broker on an email to the listing agent and explain that you’ve decided to enlist the services a dedicated buyer’s agent for your purchase. You can truthfully explain that you’ve done a lot of research and realized that you needed someone to guide you through the process who only works for you. Your closing cost credit can be our little secret!
Can I sign up if I've already submitted an offer?
It depends. If you’ve already submitted an offer directly with the listing agent or through another buyer’s agent, then it may be too late. It will be hard for our partner broker to be the procuring cause of the sale, and thus eligible for commission, if your offer has already been accepted. However, it’s not too late if your offer was rejected or if you plan on making a new offer on the same property or a different property!
Is it legal to receive a NYC buyer agent commission rebate?
Yes, home buyer closing credits and incentives are completely legal in 40 states including New York State. It’s completely legal for a buyer’s agent to offer a portion of their commission as an incentive to home buyers, and it’s completely legal for home buyers to receive such an incentive. In fact, former New York State Attorney General Eric T. Schneiderman released an open letter to the real estate community on April 20th, 2015 urging all parties to take advantage of such home buyer closing credit programs and incentives.
Ten states currently ban commission incentives offered by the buyer’s agent. Nine of these states have a full ban in effect due to strong real estate broker lobbying efforts: Alabama, Alaska, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Oregon, and Tennessee. The tenth state, Iowa, prohibits any such incentives when there are two or more real estate brokers on a transaction.
Are NYC buyer agent commission rebates taxable?
The IRS has issued an opinion letter stating that closing credits and commission incentives provided by real estate brokers are generally not taxable. As a result, you should not expect a 1099 to be issued to you as your closing gift will generally be treated as a concession on price, and thus a reduction of your cost basis. Please consult your tax adviser for more information. You can also view the specific IRS rule we referenced here.
Do I need to sign a NYC buyer agent commission rebate agreement?
As a home buyer, you are never required to sign any sort of contract or exclusivity agreement. However, our partner brokers can send you a simple agreement for e-signature detailing how much they will pay you. This agreement is optional to sign and is for your protection!
Our partner brokers will also send you a NY Agency Disclosure Form. This government mandated disclosure form is not a contract and simply explains whom your agent represents. You are not required to sign it but our partner brokers are required to present it.
What properties qualify for a NYC buyer agent commission rebate?
You can receive a Hauseit Buyer Closing Credit on all types of apartments in NYC, including new construction buildings, condos, co-ops, condops, brownstones, multi-family houses or any other building or land that is listed for sale. It’s important to clarify that our partner brokers can offer you this incentive on any listing in NYC, Long Island and the Hudson Valley even if it is listed by another broker. Many buyers think that this sort of incentive could only be offered on a broker’s own listings but that is simply not the case!
How much is the buyer commission rebate?
New York home buyers can save up to 2% on their purchase price with a NYC Buyer Agent Commission Rebate. This means you can save up to $20,000 for each $1 million of real estate that you purchase. On the average NYC apartment where 3% in commission is being offered to buyers’ agents, this equates to 2/3 (two thirds) of the total buyer agent commission. Our partner brokers are very reasonable people, so please feel free to discuss your unique situation with them and tell them what works for you!
Are there any hidden fees?
No. You don’t owe us or our partner brokers anything at all because buyers’ agents get paid from a split of the built in listing commission. As a result, it is the seller who pays the agents on both sides. If you don’t take advantage of your right to free buyer representation, then you’ll simply allow the listing agent to keep both sides of the commission!
Will I have a full service buyer's agent?
Yes. You won’t be treated any differently by our partner brokers because you’re receiving a buyer closing credit. Our experienced partner brokers will be there to guide you through your search, offer, contract and closing process. If you’re busy, our partner brokers can search for listings and schedule viewings on behalf, and even put together showing tours for you when you’re free for a day!
Can I still search on my own?
Yes. You are free to continue searching for listings online and even attending open houses on your own. Once you’ve found or seen a listing you want to put an offer on, please let our partner brokers know! Just remember to write the contact information of our partner brokers down on open house sign in sheets so listing agents know you’re represented. A further benefit of doing so is you won’t be added to newsletters and mailing lists!
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