What Is A Move Up Program?
A Move Up Program in short, is a situation in which you are actively pursuing a new home to purchase but, in order to move forward, you need help selling an existing home or investment property.
While this situation is commonly referred to as a “move up program”, it does not always have to involve moving from a smaller to a larger or more expensive house. Sometimes, it simply involves finding a house that is a more appropriate size or in a more ideal location for your current circumstances.
How this affects you?
Traditionally when a home sells, the sale commissions for the Realtors involved are listed as a seller’s closing cost and deducted from proceeds at closing. In a hypothetical scenario, the total commission on the sale of a home would be 6%, split between the two cooperating agents and their brokerages.
Fortunately, the same scenario holds true when we help you with the purchase of a new home. The seller or home builder pays those commissions.
When we choose to work together on your sale and purchase, we will be compensated as your buyer’s agent on the next home that we help you purchase. As a result, we offer a listing commission rebate on the sale of your existing home. That way you put more money back into your own pocket at closing. We provide you with the same top notch listing service and implement the same dynamic marketing strategies that we have used to sell properties in less time and for more money. And on top of that, we rebate a portion of the listing commission back to you at closing!
Calculating Your Savings
Rather than paying your listing agent a full 3% listing commission and an additional 3% to a cooperating buyer’s agent as detailed in the hypothetical scenario above, when we sell your home, we do so for a reduced fee. In this way, less of your money goes to Realtor commissions and more money goes into your new home or back into your pockets.
Move up listing commission rebates range between .5-1% depending on your personal situation and property. We are happy to discuss your circumstances and help formulate a strategy that works best for both of us.
Move Up Program Terms – some conditions do apply and representation agreements must be signed for both the sale of your existing property and purchase of a new one.