Just 1% is an advertiser of Sonoran Living.
Inflation might be up, but if you are looking to buy a home there just might be a new way to save some serious money on your next home purchase. Just 1% is a discount buyer agency service founded by Patrick Kaiser that works the exact same as the traditional buyer agency experience you’re used to, but for a lower fee that can be used to help lower your monthly mortgage payments. How is that?
Traditionally, you would meet with an agent, go over your home wants and needs, beds, baths, pool or no pool, 1 story, 2 story, schools, cities, zip codes, etc. Then you would go out with your agent to see homes that you liked, you find the one, write an offer, and your agent was typically paid for by the seller and rarely discussed. If you were a buyer, you never had to think about what your agent was being paid because the commission for buyers’ agents was listed on the MLS and not visible to the public.
All of that changed after last year's settlement to an antitrust lawsuit against the National Association of Realtors and many of the nation’s largest brokerages that collectively settled for damages around $500 million. Commissions are no longer listed on the MLS and compensation between brokers was removed in favor of the buyer’s agents submitting the request for compensation as part of the purchase contract. On top of that, Realtors are required to get contracts signed by their buyers stating how much they charge for their services prior to even seeing homes. If you’ve been house hunting lately, you’ve probably encountered this.
What you probably didn’t know, is that you can hire Just 1% to do the same job, but for less. You can see any home on the market, in all of Metro Phoenix, including new builds, and when you find the home you’re interested in purchasing, they will submit a purchase contract asking the seller to compensate the buyer’s agent more than the 1% which is on the buyer agency agreement. Any amount that the seller or builder agrees to pay which is above the 1% gets credited back to the buyer and can be applied to lower your mortgage rate or reduce your closing costs. For most houses, this is between 1-2% of the contract price and can significantly lower your monthly payments. If you want to know the exact amount this kind of buydown will lower your monthly payment, reach out to your favorite local lender who will be able to help you specifically determine what your savings will be.
If you want to learn more or are ready to get started, you can call Patrick directly at 602-768-2767. If you want to learn more or have a friend who is house hunting, send them to www.just1az.com/buyers. Just 1% is Brokered by My Home Group.
