Effective September 16th, CataList Homes will be changing our buyer commission rebate from 50% to 20%. This change reflects our belief that in a slow market, with a lot of inventory, buyers need more help identifyng the right home to purchase and more data to justify the home's value. Although the internet allows buyers to research and identify homes for sale, in reality, our consumers wanted more service and support viewing homes than the original rebate model provided. With overwhelming consumer feedback, we concluded that home buyers want their agent to work harder to help them find the best home at the best price, and rebates were secondary. In order to provide a complete full-service approach to buyers, we have changed the rebate to reflect the increased work load placed on our local agents.
Our competitors offering even less service and higher rebates are completing very few deals in the market which further influenced our decision.
The 50% rebate will be honored for current clients who have previously registered with us. In addition, for consumers that have already identified a home to purchase on their own and just need offer and closing support, we will offer a 50% rebate with prior management approval.
CataList will maintain its goal of reducing transaction costs and providing excellent ethical service.