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Navy Federal Credit Union is celebrating its 36-year referral partnership with Anywhere Real Estate by honoring brokerages that have demonstrated “service excellence” to homebuyers and sellers.
When they’re ready to buy or sell a home, the Navy Federal RealtyPlus program turns the credit union’s 14.5 million members into “high quality leads” for affiliated brokers and agents in the Anywhere Leads Network.
In return, buyers or sellers receive commission rebates of $400 to $9,000, depending on the price of the home they’re buying or selling. For a buyer purchasing a median-priced $403,700 home, the program would provide a $2,525 commission rebate, according to a calculator on the Navy Federal RealtyPlus homepage.
A referral client closing on a $1.4 million home would get $6,000 back, or 0.4 percent of the sale price. To qualify for the maximum $9,000 cash back requires buying or selling a home valued at $3 million or greater.
“When you buy or sell a home through our program, the real estate company splits their commission with Anywhere Leads Inc.,” a website FAQ explains. “This commission split is a common practice in the real estate industry and is used to increase business for the broker and provide a savings to homebuyers and sellers.”
Anywhere Leads refers buyers and sellers to brokers and agents affiliated with Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Corcoran, ERA and Sotheby’s International Realty.
Fred Quick
“For over 35 years, Navy Federal’s RealtyPlus program has helped our members achieve their home ownership goals,” Fred Quick, head of mortgage lending at Navy Federal, said in a statement. “Our partnership with Anywhere allows us to connect our members with the highest quality real estate agents. We’re proud of the great service this provides for the military community and their families.”
Navy Federal on May 6 honored three top performing brokerages in the RealtyPlus program with “SPIRIT Awards:”
- Coldwell Banker Brown Realtors, Edwardsville, Illinois
- Coldwell Banker Realty Central, Pennsylvania
- Better Homes and Gardens Real Estate Native American Group, Virginia Beach, Virginia
Kristin Aerts
“It’s rare in today’s fast-paced business environment to witness two brands maintain a longstanding relationship, and we are incredibly proud of the 36-year strategic partnership with Navy Federal Credit Union,” Anywhere executive Kristin Aerts said, in a statement. “Our RealtyPlus program brokers and agents understand the unique needs of Navy Federal members and are committed to delivering exceptional service to those who’ve served our country, including their families.”
Anywhere Leads Inc. has similar commission rebate programs for AARP members and military and veteran families providing up to $7,500 cash back.
The programs aren’t available in states that prohibit or restrict commission rebates — such as Alaska and Oklahoma — or for some transactions with restricted agent commissions including many new construction, for sale by owner or for sale by iBuyer transactions.
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