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Buy Fairly with Fairday

Fairday buyers are eligible to receive a rebate at closing

Did you know that sellers are typically responsible for paying the buyer’s agent a commission? Did you also know that in many cases, part of this commission paid to the buyer’s agent can be rebated back to you as the buyer at closing?

Buyers who search for and buy their home with the help of an experienced Fairday agent are eligible to receive such a rebate at closing. In the home search process, your Fairday agent provides you the support, guidance, and local expertise that you should expect, but is paid a commission for doing so by the seller. Your Fairday agent can give part of that commission back to you in the form of a rebate at closing as a “Thank You” for instilling your trust in Fairday.*

How do I know what a fair rebate is?

A fair rebate is based on the help you need as a buyer. Contact us to learn more or speak to your Fairday agent to see what rebate would be fair for you given where you are in the buying process:
Little-to-No Rebate
Little to no rebate: ($0-$100 on a $300,000 home) This is the buyer who:
  • Knows they are ready to buy a home but aren’t yet sure of the where or what kind
  • Needs the assistance of their Fairday agent to educate them on the process and to help them understand what could work for their situation and budget
  • Spends time with their Fairday agent touring homes and neighborhoods to determine where they want to be
  • Relies on their agent to find them homes that could be a fit and work through the process of identifying their home, making an offer, doing their research, and finally buying their home
Solid Rebate
Solid rebate: ($250-$750 on a $300,000 home) This is the buyer who:
  • Knows the neighborhood or a couple neighborhoods they would like to live in
  • Searches online regularly to find a home but still looks to their Fairday agent for feedback and guidance or homes that haven’t been posted online
  • May be new to the process or needs to see a few homes to get comfortable before making a decision
  • After several showings, finds the home that is right for them, makes an offer with help from their Fairday agent, and purchases the home
Huge Rebate
Huge rebate: ($1,000-$1,500 on a $300,000 home) This is the buyer who:
  • Prefers to conduct their search independently and do their own research
  • Finds the home they want on their own online, drove by the home and visited the neighborhood, and now just needs to get inside to make sure the home looks in person like it did online
  • After the first showing, sees the home, loves it, makes an offer, and purchases the home with the help of their Fairday agent
  *Keep in mind though that your agent needs to be paid for the work they do and so your eligibility for a rebate is subject to a minimum commission received.You can use this to get an idea of what rebate could be fair given where you fit, but each rebate needs to be agreed upon between you as the buyer and your agent since each situation is different. Rebates also require lender approval and so you should discuss this with them right away. Fairday does not guarantee payment of a rebate if the minimum commission is not met or if the lender prohibits the payment of the rebate, despite any agreement you may come to with your agent.  

Guides for First-time Home Buyers

Buying a home is one of the biggest financial decisions you’ll ever make. Here are some tips to guide you through the buying process.
  1. Work with an expert

    There’s simply no substitute for professional guidance when buying a home. Work with a local expert who knows the Connecticut housing market like the back of their hand. A real estate agent can inform you of market trends and developments that affect your purchase, as well as help you avoid the common pitfalls of buying a home for the first time.

  2. Know what you want

    Before starting the search process, you need to know what kind of home you’re looking for. Create a list of must-haves that identifies the kind of features your home should have, such as the number of bedrooms, and so on. This helps narrow down the search and make it easier for you to find the home of your dreams. This will also give your agent a clear idea of what it is you’re looking for, enabling them to find listings that match your criteria.

  3. Get pre-approved for a mortgage

    Getting pre-approved for a mortgage will give you the upper hand in bidding, especially when it comes to properties with multiple bidders. A pre-approval letter sends the seller the message that you’re serious about buying the home, and that you’re in the financial position to do so.

  4. Have sufficient cash reserves

    You should be in good financial standing if you want to buy a home. That means having enough cash for the down payment, the closing costs, monthly payments, utilities, basic necessities, and emergency expenses.

  5. Start your search online

    The majority of first-time homebuyers start their search online. Making use of and the Multiple Listing Service (MLS) is a great way to discover Fairfield County CT real estate. From there you can decide which homes you’d like to view in person. Your agent can also suggest listings that they feel match your requirements.

  6. Go to open houses

    It’s worth taking the time to view homes in person, especially if you intend to use it as a primary residence. It’s the only way to know if the home truly fits your criteria. After searching the MLS, narrow your choices down to the properties that you’d like to visit. Before beginning your open house tours, consult your agent so they can help you come up with a schedule that lets you maximize your time and energy and ensure that you are able to maintain the proper representation.

  7. Make a strong offer

    Once you’ve found a home you like, you have to be ready to make an offer. A strong offer is not just about price. To a seller, your financing/mortgage plans can be important as well as offer contingencies and the speed at which you can move to close on the purchase.

If you’re ready to buy your first home, Fairday Realty would be happy to help. Click here to use the contact form on this page to reach us.