Frequently Asked Questions
Why work with W&G?
If you are a do-it-yourself buyer that leverages all the online tools and resources available to buyer today, this is a great opportunity to save some money on your acquisition, while still working with trusted real estate professionals that can walk you through the home buying process. This is a great opportunity for any buyer that knows the neighborhood and wants to do all the searching on their own.
How does it work?
The way it works is you the buyer find the property you want to buy online (Trulia, Zillow, Streeteasy, etc.). When you are viewing the property, you will let the sales broker know that you are represented by W&G. When you are ready to submit and offer, W&G will submit the offer for you and help negotiate the terms of the purchase. At closing, the Seller’s broker is required to pay W&G half of their commission. W&G will then rebate half the amount we receive to you as cash on the closing statement. If you did not use a broker, the Seller’s broker would retain the entire 6% commission.
What type of savings can I expect to see?
On a $1,000,000 purchase transaction, the typical 6% commission would be $60,000. As the buyer’s broker, W&G would be entitled to half of that — $30,000. W&G would then rebate $15,000 back to you on the closing statement. As a buyer that did much of the work to find the property and has no broker, this is a great deal because otherwise commission will go solely to the Seller’s broker.
What is the difference between W&G and a traditional real estate broker?
By design W&G offers an efficient rebate program to provide the most value to you as the buyer in the new market that facilitates online searching for properties. Despite the fact that we do not offer any property search services or arrange viewings, we do still help with all of the traditional brokerage services with respect to making an offer and closing on the acquisition. W&G is able to help clients make the best offer and negotiate the price, and through our network we can help you find the right lender, complete board packages, set up inspections, locate a lawyer and insurance company.
Do you represent Sellers?
No. Not right now, but we do have an extensive network of trusted brokers that we can refer you to.
Are you able to provide services outside of NY?
Sometimes. We are building a network of trusted agents that we can recommend and refer you to that are willing to participate in our rebate brokerage commissions.
What happens after I register?
After registration W&G will mail you a buyers information guide that includes our business cards to use at open houses, as well as other information to help with the home buying process.
When do I need to contact W&G?
It is important that seller’s brokers know that you have your own broker, so be sure to contact us before you start looking at apartments and talking to Seller’s brokers. Seller’s brokers are only obligated to split the commission with W&G if they know that W&G is your broker. Otherwise, they will try to keep the entire commission for themselves.