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See How The Buyers Incentive Program Benefits Clients
Betsy sought to purchase a Center City home with a market value of $325,000 or less. After interviewing various real estate professionals, Betsy wisely chose ICR as her representative so that she could benefit from ICR’s superior service, its professional fee arrangement and its Buyers Incentive Program. In a collaborative effort, Betsy and Peter, her ICR Realty Specialist, performed an extensive search of the homes available in her price range that possessed the amenities she desired. After identifying a home and having Peter present and negotiate her offer, Betsy agreed to purchase a house on the 200 block of Arch Street for $309,000. The seller of the home had a provision in her listing contract guaranteeing a 2.5 percent commission to a cooperating broker, such as ICR, for representing the buyer of her home. As Betsy’s representative, ICR was entitled to receive a commission of nearly $8,000 at settlement. But since ICR practices professional fee representation and its fee for representing Betsy would be significantly less than $8,000, Betsy was doubly thrilled when Peter informed her that her offer was accepted and that she was due to receive a sizable incentive award at settlement.
In the period prior to settlement Peter worked with Betsy to arrange the necessary inspections, line up associated services and navigate the mortgage process. He also arranged the title search and coordinated the logistics of settlement. At settlement itself Peter guided Betsy through the seemingly endless pile of paperwork and ensured that the process went smoothly and pleasantly. In the end, Peter’s professional fee for representing Betsy totaled $3730. Betsy, therefore, received an ICR Buyer’s Incentive of $4270 that she used at settlement to defray over one-third of her closing costs. In the end ICR afforded Betsy the advantage of superior representation, the economic benefit of a professional fee arrangement, and the opportunity to forge a lasting relationship with a firm that will continually support her as both a homeowner and real estate consumer.