South Carolina just passed a law allowing real estate co's to rebate the buyer back 50% of the buyers agent commission at closing...A new co. in Charleston called rehava has just started doing this.
To check out more on rehava click below

rehava

Any thoughts on this? Has anyone ever used a co. that offered rebates before? How did it work out?

Rehava has been around since the beginning of this July and the company just reported over $40,000 in rebates to buyers for the first month. Rehava is going strong in Charleston. Because their real estate agents (client advocates at rehava) are not commission based, the agency works as a team. There has been some great response to rebates and rehava in our city...here is a post from a buyer that used rehava:

I just closed on a house with Rehava and got back $10,725.00. Considering the amount of work most realtors actually put into researching and showing homes to their clients, I think rebates make great sense. On our home, a standard buyer's agent would have walked away with $21,450.00 on a property that was found and closed on within 2-1/2 weeks. At an extremely generous realtor rate of $100.00/hour, this equates to 215 labor hours. How many sales actually require this much effort and why should we have paid for work that was neither required nor performed? Even with the rebate, Rehava walked away with $10,750.00 - still generous in my opinion. A think a better example than the desperate doctor would be why would a buyer use an agent who is going to charge you Doctor's rates for realtor's work?