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November 01, 2021

How to save thousands when buying a home in Philly

Real Estate Home Sales

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Carroll - Philadelpohia Skyline Thom Carroll/PhillyVoice

The Philadelpohia skyline as seen form Northern Liberties.

Are you looking to buy a home in Philadelphia but not sure where to begin? Searching for a home while working full-time, balancing family responsibilities, and maintaining some semblance of a social life can easily leave you feeling overwhelmed (and overextended).

Meet Prevu, the digital home buying platform designed to save buyers time and money in the Philadelphia residential market. Buyers can browse listings 24/7, schedule tours conveniently with the click of a button, make offers online, and save thousands with Prevu’s Smart Buyer Rebate.

“In major cities like Philadelphia, the affordability of buying a home has become more challenging for the newest generation of home buyers,” says Chase Marsh, Co-CEO of Prevu. “As a result, Philadelphia home buyers are looking for ways to save when they buy a home, and commission rebates make that possible.”

How commission rebates save buyers money in Philadelphia

Though few real estate brokerages offer them, buyer commission rebates are legal in 40 US states, including Pennsylvania. Real estate agents are allowed to refund a portion of their commissions to the buyers they represent on a home purchase.

During a typical home purchase in Philadelphia, the listing agent collects a real estate commission of 6% of the purchase price. That commission is then split evenly, with 3% given to the seller’s agent and 3% given to the buyer’s agent.

Prevu is unique as it offers a financial benefit by giving two-thirds of the buyer’s agent commission (in the above scenario, 2% of the purchase price) directly back to customers in the form of a buyer commission rebate.

For example, if you buy an $800,000 home in the Rittenhouse neighborhood with a 3% buyer’s agent commission, you would receive 2%, or $16,000 cash back from Prevu .

A better buying experience . . . online

Unlike traditional brokerages that offer antiquated offline experiences, Prevu elevates the home buying process by bringing together all the resources you need in one seamless, online platform.

Now, home buyers in Philadelphia can easily browse listings, receive regular property and open house alerts, schedule tours, make offers online, and securely upload all necessary documents.

Prevu’s digital platform provides buyers in Philadelphia with the transparency and control they have become accustomed to in online transactions, while delivering better collaboration and expert agent advice throughout the buying process.

“The combination of savings and a sophisticated, online experience is exactly what home buyers in Philadelphia have been waiting for,” says Todd Hovanec, Prevu’s Director of Real Estate Services for Greater Philadelphia. “Imagine what buyers can do with all of that cash back after closing.”

Curious how much you’ll save when buying a Philadelphia home? See your potential rebate on every listing when you create a free Prevu property feed.