Frequently Asked Questions
How do I know if I qualify?
If you have ever served in the military or if you are a surviving spouse of a service member you qualify. You may be asked to show your military ID card or DD Form 214 but mostly we operate on the honor system.
The DD Form 214, Certificate of Release or Discharge from Active Duty is a document of the United States Department of Defense, issues upon a military service member's retirement, separation, or discharge from active duty in the Armed Forces of the United States.
If I register for the Real Estate Military Discount Program am I obligated to use it?
No, we are happy to explain the program to you over the phone and prefer to meet with you at your home if you are selling. If you prefer, we’ll be glad to meet with you at our office or Starbucks without any obligation on your part. Coffee is on us!
If you decide to take advantage of our expertise and rebate, sellers will be required to sign a listing agreement for a period of time no less than 90 days. Commissions are negotiable and the rebate will be accounted for at closing appearing as an agent credit on your Closing Disclosure or HUD-1 Settlement Statement. We are a full service brokerage firm and not a limited service or discount brokers so standard market commission rates apply.
Buyers will be required to sign a buyer representation agreement with the brokerage firm for a period of time no less than 90 days. Buyer rebates will be accounted for at closing appearing as an agent credit on their Closing Disclosure or HUD-1 Settlement Statement.
Will my information remain private?
We protect your privacy and take it very seriously. We will never spam you or sell your information to third parties.
Should I still register if I'm not quite ready to buy or sell?
It's never too soon to get in touch with us. You’ll benefit from our experience and guidance so you'll be prepared to move fast when you're ready to buy or sell your home.
I’m buying a home. Do I need to get mortgage financing from a particular financial institution to qualify for the Real Estate Military Discount Program?
Although we recommend getting pre-qualified for a loan early on in the home buying process we have no restrictions about where you obtain financing. You don’t need to be a member of a bank, credit union or insurance company to qualify for the program. If you are unsure of who to talk to we can recommend reputable lenders who offer competitive rates in Hampton Roads, Virginia.
Can I use the Real Estate Military Discount Program to buy a short sale or foreclosure?
Yes, you will be shown whatever properties interest you to include short sales and REO homes. You still qualify for a rebate when you purchase a short sale or REO property. However, the rebate is not available to sellers in a short sale transaction.
I plan to sell in 6 months, should I submit a request now?
It is never too early to begin using our service. We can provide valuable services prior to your home being listed, such as recommending home improvements that will yield the highest returns, helping you navigate a delicate tenant-occupied situation, assisting in vacating a property and/or connecting you with trusted service providers who may also offer military discounts. It’s possible we might already know a buyer who would be interested in purchasing your home!
Is the Real Estate Military Discount Program a free service?
Yes the Real Estate Military Discount Program is a free service for home buyers and sellers. In addition, we do not to charge transaction fees. Some real estate agents charge several hundred dollars above the agreed to commission but we don’t. It doesn’t make sense to offer veterans a rebate and then collect it back in the form of a transaction fee.
How is Real Estate Military Discount different from other rebate programs?
Receiving a military discount such as cash back at closing is great, but how do you know you’re getting the best service? Many so called advantage or rewards programs may provide little advantage to you when there’s no vetting of the assigned agent. Working with an inexperienced agent could end up costing you lots of money. Many credit unions, insurance companies or other rebate programs simply hand your contact information off to any brokerage firm that has agreed to pay them a sizeable referral fee without ever knowing which agent within the brokerage firm is going to contact you or what their qualifications are. Directory based real estate websites that offer you agent proposals are pay for marketing platforms. Having to sift thru a myriad of proposals from agents who have paid to participate could prove to be a daunting, fruitless task.
We on the other hand communicate with you first so we understand your wants and needs. We are a full service company with a proven track record and long list of satisfied clients. By employing us you significantly increase the probability your home buying or selling transaction will be successful. We represent your best interests throughout the home buying and selling process.
Are rebates legal?
Yes, in fact, the United States Department of Justice encourages rebates and feels that rebates make buying or selling a home less expensive.
“Offering rebates and incentives is one way that real estate brokers can compete for consumers’ business, leading to lower prices to consumers.” – U.S. DOJ
For more information please visit: https://www.justice.gov/atr/rebates
What exactly is a buyer's rebate and when will I receive it?
Home buyers typically do not pay commission fees when working with a real estate agent. Sellers normally cover the commission fees paid to both the selling and buying agents. In fact, buyers financing with VA loans are prohibited by the Veteran’s Administration from paying buyer broker commissions.
The rebate comes from the commission earned by the buyer’s or seller’s agent. You will receive your rebate when you close escrow on the purchase or sale of your property. The rebate will be paid as an agent credit on your Closing Disclosure or HUD-1 Settlement Statement.
You must be registered in the program and be represented at closing by us in order to qualify for the rebate. Rebates are not available for transactions outside the United States and may not be combined with other referral programs. Your military discount is a well-deserved bonus and it’s our way of saying “Thank you for your service!” Go ahead and register today, you’ll be glad you did.