Industry News

Online real estate service rewards ‘savvy’ buyers

National discounter gives rebates for legwork

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A new Web site has launched that offers rebates to home buyers who work with its network of real estate agents. SavvyHomeBuyer.com offers cash rebates at closing of up to 1 percent of the value of the purchased home. Consumers who work with SavvyHomeBuyer agents perform some of the work themselves in the home-buying process, while the agents focus on the final phases of the home search and purchase. "Internet home buyers are doing a lot of the legwork that used to be done by real estate agents, so we think they should be rewarded for that," said Daniel Odio, founder of SavvyHomeBuyer.com. "With real estate prices and commissions getting out of hand, it's ridiculous for agents to take more money for work they aren't doing. "Our agents are compensated for the work that is most valuable to the buyer client – things like writing contract offers and helping to close the deal," Odio added. "That way it is up to the client to decide how much or little work they want to do on their own...