We rebate a portion of our seller paid commission to you. Because real estate commissions in Chicago are so high on more expensive homes we use a sliding scale to determine our target commission - which is a lot less than the traditional real estate companies make. Everything above that amount we rebate to you. Our rebates vary from 20% to 50% of the cooperating commission, depending upon the price of the home.* For example, on a $500,000 home with a 3% cooperating commission and no deductions or bonuses we would rebate you 25% of our commission - or $3,750.
But wait, there's more! Occasionally, the seller and/or listing broker will offer the buyer's agent a bonus or other incentive in addition to the cooperating brokerage commission. We question the practice of buyer's agents keeping this bonus for themselves and not disclosing it to buyers. Therefore, we include any bonuses in our rebate calculation - which is a lot more than some of the other real estate brokers that offer rebates.
We provide our home buyers with a complete suite of home buyer services throughout Chicago and the surrounding suburbs. Just because we provide our buyers with a great deal doesn't mean they have to settle for less. We know you have access to a lot of data through the Internet so we are determined to demonstrate to you that we provide a lot more value than the "other agents". Think you don't need a real estate agent to help you buy a home? Think again!
Because our home marketing costs are not proportional to the price of a home we don't charge a flat commission like other real estate brokers. Instead, we use a sliding scale where the commission percentage decreases for more expensive homes. First, we help you determine the appropriate cooperating commission to offer buyer's agents. Then we determine the "sell side" commission based upon the price of the home. The end result is that instead of charging 6% we can charge as little as 3.7% for more expensive homes.
Full service doesn't have to mean full price! Lucid Realty will provide you with better home marketing services than a traditional broker but for a lot less money. Most traditional real estate agents would like you to believe that they provide some "unique", "comprehensive" marketing program for homes. The fact of the matter is that any true professional trying to justify a high commission is going to offer you the same basic package consisting of some variation of the following:
It turns out that some of these home marketing programs are bogus,designed to simply pacify you, justify a higher commission, or help the agent/broker generate more business for themselves at your expense. And despite all this bluster the #1 complaint of home sellers is that their realtor doesn't keep them informed about what is happening on the sale of their home.
At Lucid Realty we can match anything that a traditional real estate broker provides - and then some - but we do it for a lower commission and you don't need to sacrifice the personal touch of a traditional broker. Most importantly, we promise to provide you with regular feedback and insights about your sale.
On the other hand, if you are thinking of selling your home yourself you should first read our article on considering the for sale by owner option.
Relocating to a new city can be a daunting challenge but we can vastly simplify the process for you. We will enable you to conduct your research in the Chicago area while still enjoying life in your current home. We are experts at working with clients remotely, leveraging the latest technology to extend your reach. Whether your relocation is sponsored by your employer or you are handling it on your own we make it easy for you and save you money in the process.
But wait, there's more! Occasionally, the seller and/or listing broker will offer the buyer's agent a bonus or other incentive in addition to the cooperating brokerage commission. We question the practice of buyer's agents keeping this bonus for themselves and not disclosing it to buyers. Therefore, we include any bonuses in our rebate calculation - which is a lot more than some of the other real estate brokers that offer rebates.
*Rebates are paid only to buyers who have signed an exclusive buyer's agreement with Lucid Realty and close on real estate purchased above $150,000 with Lucid Realty under that agreement. For homes below $200,000 the rebate is $250. For homes at or above $200,000 the rebate is at least 20% of the cooperating broker commission plus incentives actually received by Lucid Realty at the close of escrow/settlement for representing the buyer, net of any allowances or other deductions related to the transaction. Rebates on more expensive homes can be as high as 50% of the cooperating commission. Speak to your Lucid Realty agent for details on how much you can expect to save. The rebate will be paid or credited to the party or parties named as the "buyer(s)" or"borrower(s)" on the HUD-1 Closing Statement.
