First, you should know that if you are my Buyer customer, you will not pay me a commission. The seller compensates our brokerage, not you. Once I help you close on your new home, I will be compensated by the seller.
However, Realtors are “commission only”. We don’t get a salary or an hourly wage. Because that is how we work, and we only have so many hours in each day, we must take steps to ensure we are working with customers who are serious about buying a home. We get requests to see homes every week. Often they are just curious, want to get a tour of our area, curious as to what homes here look like, or haven’t fully decided if they in fact want to buy a home. Some customers will engage a Realtor for weeks, or months, then never buy a home, costing time and money. This is unfair to the Realtor, and the clients they are working with who need their full attention. All Realtors have experienced this, and its why many top producing agents require a retainer.
But if you are in fact serious about buying a home, then you have no worries because I offer the same deal to all new customers. (I may not ask for a retainer at all from first time home buyers, friends, family, or referred clients) With a $250 retainer, you will get the same excellence in service that all my clients have received. And when we close on your new home, I refund your $250 retainer, AND I will give you $300 of my own money to apply towards your closing costs, or moving expenses. This shows you how dedicated I am to helping you, while putting in a place a system to help ensure I am only working with serious Buyers. It covers the costs incurred since we spend our own money showing homes. In other words, serious Buyers will appreciate the $300 credit they will receive, while it should scare off customers who want a free tour of our area, or to look at homes simply for entertainment.