The real estate commission rebate is a nice cash bonus you receive at closing just for working with a particular realtor, but there is a catch, and you should make sure you read this before you assume that you are entitled to a chunk of change. To make this clear, to rebate is not a typical rebate that you need to apply for or provide information in order to qualify, there really is only one qualification. The only way you can get the rebate is by asking a realtor about it before you sign a contract with them.
Here is some information from RebatesOnRealestate.com on how to approach a realtor about the real estate rebate;
1. Like we said earlier, you have to approach a realtor before you are working with them and inquire about the rebate because it is in fact a piece of their paycheck they are offering. The way to look at it is like this, the real estate agent is willing to give up a small piece of the paycheck in order to get you to agree to work with them. This is one of those instances the horse must be in front of the cart or there is no deal.
2. Long before you choose a realtor, take the time to inquire with them if they participate in the rebate offer. Many realtors are not willing to part with any of the money because they do work very hard for it, but if you are counting your pennies and would like a check for a few thousand dollars at closing, you have to be willing to find the right realtors at the start.
3. Visit Facebook and poke around some local real estate groups in your leisure time. Don’t make a big scene and post a comment about the rebate, you could rub some realtors the wrong way. This is something between you and the realtor, so send them a private message and ask if they are willing to provide the rebate in exchange for signing an agreement to work together.
4. If you have a realtor who has been in contact with you and you are still not working together, the best way to ask about the rebate is to simply say another realtor approached you and offered the rebate, and see if they would be willing to do the same. If yes, you sign the agreement and enjoy that money when the closing time arrives.