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Realex Realtor

Buy Homes & Get Rebate

Get Realtor Rebates up to 1.75% of the Purchase Price. Full Service. Real Savings.

Why Work With Us?

  • Full service, IL licensed professionals looking out for your interest
  • We guide you through every step of the home purchasing process
  • Highly efficient communications, online transaction management
  • Large commission rebate after closing

True Savings

It’s a common misconception that realtors work for you “for free”. So many buyers don’t think too much when choosing a realtor. But IT’S NEVER FREE! Buyer realtor’s commission ultimately comes from you, the buyer. By providing you commission rebates, we are able to give you real savings.

Let’s look at an example adapted from real life*. (*Example not including mortgage related cost, prepaid tax and insurance. Numbers adjusted slightly for illustration.)

How Much Can You Save

The following calculator is for your reference only. Each transaction is different. To find out exactly how many free showings you get, and how much rebate you can expect on any specific property, please contact us directly.

Service Area

Our main service area is 20 mile around Morton Grove

20 Mile Radius around Morton Grove, IL

We are licensed to sell properties all over Illinois. But due to the constraint of our resources, our main service area is as illustrated.

Properties within the Service Area follow the flat fee program above.

Properties beyond the Service Area, depending on the actual distance, may have an extra charge.

To Help You Decide

We prepared a Pros and Cons list comparing our services to traditional realtors

Benefits

Need we say more? Just play with the calculator above to get an idea of how much money you can expect to receive.

The IRS ruled that realtor commission rebates are not taxable income. So don’t worry that the big check you received will cause you tax burden at year end. Although we do recommend talking to your accountant about the specific treatment of the rebate when you file tax return.

A real estate transaction involves many parties, many laws and regulations, and things you may or may not be aware of. It pays to have an experienced professional on your side.

No more paper shuffling. We employ the latest doc-sharing and e-signature technologies to make life easier.

If you need us any time, we can be reached via e-mail, text, phone call, and online chatting.

Unlike most realtors that just show properties and can’t answer any of your other questions, we are knowledgeable in the entire process from contract to closing, even loan underwriting process, and many legal aspects (we are not lawyers though).

We provide objective assessments and answer your questions, but rest assured, we will never pressure you into anything you don’t want.

We won’t pile on complicated jargon just to show that we are knowledgeable. Nor will we hide behind inexplicable laws or procedures to shirk responsibilities. The home buying process is stressful, but it doesn’t need to be confusing. You as the consumer deserve to be in the know.

Considerations

At the very least, you need to have a smart phone or a computer. Some of our process need you to follow the software prompts or download an app. Most communications will be online.

Because of our extremely low-cost model, we can’t sustain if we conduct unlimited free showings. If you used up your free showings and still need to see more properties, the charge is $50/showing.

Based on market statistics, buyers on average see 10 properties in total to find the one they buy. So in the majority of the cases, with our paid showing services, the buyer will still get a large rebate at closing.

Over the years, we have found that realtor interference with the market research/property finding process to be counter-productive and intrusive. Especially with all the information available online, it is redundant for realtors to recommend properties to buyers when buyers can see the same thing online. It is precisely because we cut out this part are we able to offer you the biggest rebates. Also see FAQ section for more discussion on this topic.

This is to help protect you (e.g. you pick the property you visited during open house, seller agent could force you to work with him; or previous agents that has showed you properties might claim you owe them commission), and also to protect us, given our extremely low cost.

But if you find a property for sale by owner, there is no charge on our side.

This is due to the fixed cost on our side for every deal.

Let's Get Started

2 We will schedule a free consultation session with you to get to know your need, and how we can help.

3 Once you are ready to move forward, we will send you our Agency Agreement and other documents to e-sign.

4 We schedule showings based on your request; conduct market analysis to help you formulate strategies.

5 You found the one! We’ll help you negotiate and guide you through closing.

6 Congratulations on your closing! Now expect a big rebate check!

We give special promotions for our subscribers only. You could save even more!

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More Questions?

Check out the commonly asked questions, or Contact Us.

Why we don’t interfere with your market research process?
We can provide general guidance to help you look in the right direction, but pinpointing which property is up to the buyer. People’s preference is vastly different. The only person that knows what you want at a certain time is you. Finding a home is an extremely emotional process, and it’s best done by the buyer in the comfort of his/her home, maybe with inputs from friends and family, reflecting on the past and imagining the future, coffee or wine in hand.  Frankly, we think a realtor’s interference with the house searching process is counter-productive, and could get intrusive. Too often, we see buyers’ preference changes mid-way, sometimes a 180 degree turn, or their budget suddenly expands or shrinks. Relying on a realtor to find a home could result in a lot of wasted time and frustration on both sides. Therefore, the process works best when the buyer already has a few candidates in mind, and come to us for showings. This will significantly reduce the emotional stress and wasted time on both parties. It is also because we cut out this part are we able to cut our cost and provide you with a big rebate.
 

How do you do market research?

First of all, ask yourself what do you want from a house. Do you value a short commute time, or space for a growing family, or a good school district for your children, or a potential to flip the house for profit? Then research different neighborhoods.

As they say, location is the most important feature of a house. Which neighborhood you choose will directly affects your future lifestyle. When you have a vague idea of what properties might interest you, go to different open houses to get a feel. You’ll get first hand experience of further details of different properties, e.g. street parking, neighbors, yard work, oldness or newness, smells, sun exposure, room layouts, etc. Then you’ll further narrow down what you like and what you can’t tolerate.

We recommend set up a search alert on real estate websites, like Realtor.com or Redfin.com, so you’ll get notified immediately when new properties hit the market. Of course, we can also help you set up an MLS alert if you so desire.

With that said, we are not hanging you out to dry! We hold free consultations to identify your need, give recommendations, strategies. And we are always just a message or phone call away.

Buying a home involves many parties. Depending on whether you need a mortgage, there are different fees to take into consideration when you are setting your budget.

Most of the these fees exist whether you take a loan or not:

  • Attorney fee
  • Title settlement fee
  • Recording fee
  • Transfer tax
  • Hazard insurance
  • Inspection fee

When you take a loan, the bank or other financial institution will charge some or all of the following fees:

  • Loan point
  • Rate lock fee
  • Underwriting fee
  • Credit check
  • Appraisal fee
  • Title insurance
  • Flood zone search
  • Documentation fee
  • Courier fee
  • Property tax escrow
  • Prepaid interest

Then how much closing fee should one expect? Not that we don’t want to give a number, but the reality is, there are so many different situations that makes the closing fee swing wildly from one property to the next. Any “ball park” figure could be so far off from the reality that it’s misleading. You may see an estimate of 2% – 5% of purchase price for most properties. But depend on your credit, the Bank fees could be over 3%. If the property tax is very high or very low, it could tilt your closing cost heavily. It should be noted that although the property tax and insurance escrow at closing are not necessarily “lending fees” as you have to pay them anyway, Banks usually require some extra money as their reserve, although refundable in the future. So those have to come our of your pocket at closing.

The bottom line is, all fees are eclipsed by realtor fees. And with our rebate, you can expect much less burden at closing.

  1. Before everything, make sure you have a loan pre-approval or sufficient fund.
  2. You identify the properties you would like to visit.
  3. We will set up the showings for you.
  4. We provide pricing consultations for the properties you are interested in.
  5. Once you decide on a property you like, we will help you prepare an offer and present to the seller.
  6. We will negotiate with the seller for your interest.
  7. Rest assured all confidential information you provided us are confidential forever.
  8. You’ve got a contract!
  9. You need to pay the earnest money.
  10. We will help you arrange an inspection.
  11. We will coordinate with the attorney for contract review.
  12. We will coordinate with the Bank for appraisal.
  13. We will further negotiate on your behalf based on inspection results.
  14. Your loan is approved.
  15. Closing date is set. We will let you know what to prepare for closing.
  16. We will coordinate for you to do a final walk through of the property.
  17. Closing day.
  18. We will send you a rebate check.

There are two scenarios to your question.

First, it is the law in Illinois that requires minimum services provided by one realtor representing his client. That means, if we represent you in this transaction, we are obligated to provide a bundle of service (drafting contract, negotiation, closing coordination, etc). It is only through our representation that we could get my commission, and provide you with maximum rebate.

The second scenario is we only provide consultation service on drafting the contract, which we think is your target. However, we wouldn’t be “representing” you as agent to client. (We will cut the crap where other realtors will talk about not acting out of your interest without representation) The key problem here is that the Seller’s realtor, seeing there’s no Buyer’s realtor, will keep all commission (6%) to himself, or they’ll push to represent you as a dual agent. Occasionally, you can negotiate directly with the Seller’s realtor to let him refund you. But we’ve never seen a realtor willing to let go as much as our rebate.

There is no fee to start working with us. But as you see, with properties in different price range, we have a limited number of free showings available. If you used up the free showings and need more showings, there will be a charge of $50 per showing. This is to ensure that our agents are compensated for their time due to our extreme low cost structure. The showing fees are non-refundable.

If the deal closes successfully, buyer doesn’t need to pay out of pocket, as the remaining of the fee will be collected at closing. Buyer will get a rebate after we clear the closing check.

If we’ve worked on a transaction for a while and the buyer decides to cancel, it will depend on the substance of our work. To prevent abuse, we would need to be compensated fairly. But if the cancellation is a result of our fault or negligence, there’s no charge.

Simply put, too high a fee for unnecessarily wasted time.

Traditionally, people rely on realtors to recommend properties to them, and arrange showings (think of the days when property listings are kept in the local realtor’s big book…) Some people would even see hundreds of houses before making a decision, and maybe they decide not to buy, or not to buy with this realtor. The poor realtor, having worked for months counting on the deal closing to get the commission, ended up not being compensated at all. It was precisely because of this reason that realtors charge an exorbitant fee since they need to hedge for those people leaning heavily on them.

But today, we have so much information available online. Property listing websites have rendered the traditional realtor’s “property finding” service obsolete, and made finding a home much easier. Then it doesn’t make any sense to charge the buyers the old fee when realtors don’t provide the old services.

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