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.”

SavvyHomeBuyer was formerly known as RebateReps, which grew into a national service after DROdio Realty, a full-service realty in Arlington, Va., that offers rebates to local buyers, began receiving inquiries from buyers across the country. Together these services have served over 1,000 buyers in the last year and given nearly $1 million in rebates back to consumers.

An announcement by SavvyHomeBuyer notes that a large number of home buyers use the Internet to help locate for-sale homes. “The result is that buyers are moving much more quickly to purchase their home after contacting a real estate agent,” the announcement states.

SavvyHomeBuyer is not affiliated with any real estate company, and its agents are from a range of brokerages.

***

Send tips or a Letter to the Editor to glenn@inman.com or call (510) 658-9252, ext. 137.

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