Palm Beach County
Preconstruction Home and Condo Rebates
Home Buyers Get up to 2% Cash Back on Preconstruction or 1% on a Resale Home in Palm Beach County!
Contact Jared Dalto, Broker 561-676-2200
Serving all cities in Palm Beach County including Boca Raton, Delray Beach, Boynton Beach, Lake Worth Beach, West Palm Beach, Wellington, Jupiter, Palm Beach Gardens, Hypoluxo, Lantana, Juno Beach, Palm Beach Island, Manalapan, and Tequesta.
Palm Beach County
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Do not buy a new home or condo in Florida without a broker/Realtor being registered as your representative on a builder registration form.
FACT: A home builder or developer already factors into the purchase price paying a real estate commission on every single home or condo they sell in. Typically this commission to a licensed agent is 3%. If you do not have a real estate broker registered on your registration form, you will pay more.
FACT: A home builder or developer selling new homes and condos does not raise or lower the price depending on if you have a real estate agent or broker registered with you. If they do lower the price it sets a precedent for future home sales. A builders are more likely to negotiate things like closing costs or upgrades. Imagine someone comes in after you and buys for less because they do not have a Realtor. You can see what issues this would cause with not only the public but bad publicity.
FAQ
FAQ's About New Home and Condo Rebates
When you buy a new home or condominium you can receive a cash rebate from Palm Beach Group’s commissions they receive from the builder or developer. To get this you must register Palm Beach Group as your representing broker on your registration form.
The United States Department of Justice only documents ten states that ban rebates. Florida thankfully is not one of them. In addition Florida also agrees that sharing brokerage compensation with a party to a real estate transaction with full disclosure to all interested parties is not a violation of chapter 475 part 1 of Florida statutes. As a matter of fact, the Antitrust Division has found no evidence that refunds and incentives harm consumers. On the contrary, they can dramatically lower the price that consumers pay for brokerage services.
Because they can’t or do not want to. They have shareholders to pay, employees to compensate, franchise fees to pay and high retail overhead expenses. We have cut all of that out of our business model to give back to our preconstruction home buyers.
No, not all builders participate. Some builders forbid an agent to give any incentive to their buyers. Yes, the state of Florida allows rebates and they are NOT illegal but builders sometimes put into their contracts that an agent cannot give back to their buyer. Horrible isn’t it!!! Builders that do not participate may be builders you choose not to do business with. They are out for profits and will do anything to figure out a way to make sure you do not save any money at their project. I do suggest that you call me Jared Dalto 561-676-2200.
The builder does not reduce the price to reflect you are not working with a broker. They will retain the commission and not pay it out. It is that simple. So do not make the mistake of registering without Palm Beach Group. There are some builders that are more flexible and you can go alone. You’ll need to ask them and tell them you have a Realtor.
It is typically a builder offers a 3% commission to a broker representing a buyer. We give back 2% out of the 3% to you, the home buyer.
You will get your rebate at closing or just after closing. It is typically given towards your closing costs.
You are dealing directly with Jared Dalto, Palm Beach Group. I am a licensed real estate broker in Florida. I have been licensed since 2003. I have closed hundreds of homes and condos throughout Florida. Call me anytime at 561-676-2200.
It is important you stay in close contact with me. I’m your right hand in your new home or condo purchase. It is when communication breaks down things get more difficult.
If you have another Realtor representing you and have an exclusive relationship with them (you signed an exclusivity agreement) then there is not way you can work with me,. However, many builders have a drop off period with their broker participation agreements with an agent and their buyer. It is important you get a copy of this agreement to see when it expires. We may be able to represent you.
The short answer is yes. Building costs go up and so does the price of the land and materials to build it. Buying a resale home you typically get more for your money. Only when the market is going down do builders get fearful of holding inventory and at that time you may obtain a decent price that could sway you from buying a new home. Think of it like buying a new car. Most already know the price goes down once you drive it off the lot but, people still buy new cars.
Builder contracts are written by their attorneys. Typically they have been reviewed over the years by other buyers’ attorneys. Changes happen all the time to these contracts to make them change with the market. Of course you have this option to have your own attorney review it.