The Real Estate Assistance Program (REAP) allows Coldwell Banker Residential Brokerage to offer employees/members of participating companies and organizations a 10% commission reduction for sellers or 10% rebate to buyers at closing on any Real Estate (non-rental) transaction in New Jersey. In most states a comparable program is available, so, if say, you were purchasing a second home in another state, as an employee at a participating company or organization you could receive this rebate as well.
The list of participants are varied and ANY SIZE COMPANY can join! Todate, we have currently enrolled: Amwell Valley Trail Association, Bridgewater Chevrolet, Bristol Myer Squibb, Center Court Athletic Club, Garden Savings Federal Credit Union, Montclair State University, Nyack Hospital, Route 3 Honda, Route 46 Chevrolet, Rutgers University, Somerville Lumber, William Paterson University, York-Jersey Underwriters, among others.
Even municipalities can join. At this point Bernards Township in Somerset County is enrolled so their firemen, police, council members, teachers benefit from the program should they decide to sell or purchase real estate.
Where does this 10% commission reduction or 10% rebate come from? Participating agents agree to pay out a 30% referral fee to Coldwell Banker. The credit or rebate to the client is paid out of that 30% referral fee.
This is a value added program that any company can add to their benefits profile at no cost to the company. And any company or organization located in the United States with any amount of
employees or members can join.
These benefits can only legally be offered through this program and is not available to the general public.
Interested yet? If you would like more information about this program and how to your company can enroll, contact me at AntoinettesellsNJ@gmail.com and I’ll be happy to assist in facilitating your membership.
Disclaimers: 1) It is recommended that the buyer consult a tax advisor regarding the consequences of rebate; 2) The purchaser may pay taxes on rebate if any apply; 3) The agreement to rebate must be signed by buyer at the time of agency relationship with Coldwell Banker; 4) Limited to residential property; 5) Rebates are limited to purchasers.
The Real Estate Assistance Program is a free, no-obligation benefits program offered in all states through Coldwell Banker Residential Brokerage. The ability to offer a rebate may be modified or prohibited in some states.