When a real estate agent represents someone purchasing a home, the agent is paid a commission from the seller; usually 3% in the DC area. At Glass House, the agent will keep 1% of the sales price and rebate the remaining commission to the purchaser, usually about 2% of the sales price. Glass House agents have a minimum commission of $5,000.
At Glass House, agents have no commission split with a broker, no office fees, and no franchise fees that “traditional” agents usually have to pay. The benefits of being a broker plus our innovative use of technology allows for large savings that are passed on to clients.
There are no hidden fees and no gimmicks. Our agency has paid out over $3,000,000 in rebates since 2010.
Khalil El-Ghoul is the Principal Broker and founder of Glass House Real Estate. Khalil will be your broker, and he works with a small group of highly-rated Realtors. This team model ensures that someone is available at all times so every deal closes smoothly. The Glass House team is available for clients to call anytime if they have any questions or concerns with their transactions.
Yes. All of our agents are full-service, licensed Realtors.
Not only are rebates legal, they are actually supported by the United States Department of Justice. The Department of Justice has an entire website promoting this cost saving for home buyers and sellers.
Visit the USDoJ website here.
Agents are often employed by brokerages, where they have to share their commission, pay desk fees, marketing fees, and other miscellaneous fees that often make it unfeasible to give a rebate.
You can receive your rebate one of two ways. One way is to receive the credit at settlement directly on the HUD-1 settlement statement. This reduces the amount of money you will need to bring to the table.
If you want the rebate after settlement, you will receive a check for the rebate within 10 days after closing with lender approval.