Military Advantage

Military Advantage:

Do you have a buyer or seller candidate for the Military Advantage cash rebate program? Bean Group is honored to extend our commitment to Bringing People Home™ to our brave servicemen and women through a real estate program available to active duty, retired military, and wounded warriors.

When an eligible military member buys or sells a home through Military Advantage with the support of a Bean Group REALTOR®, they will receive a cash rebate* based on the actual sales price – not a fixed amount based on a range of values – and they will receive their rebate at settlement!

Here are some of the key points (see The Fine Print below for Transaction Process Details):

• The rebate can be offered to active military, retired veterans, and wounded warriors – if you are unsure if they are eligible, contact relo@beangroup.com.
• You must complete a Verification of Eligibility Form (attached below) at the beginning of the process when you begin working with the client. This discount is not meant to be offered to those client transactions already in process.
• You must complete a Rebate Disclosure Form (attached below) for all parties to the transaction.
• The cash rebate is 20%* of the gross commission on that transaction side, so your client will receive either cash or credit towards closing of that 20%... this typically exceeds the rebate amount offered by USAA and other programs as theirs is a fixed range of values based on the sales price. The settlement statement must be completed correctly to reflect this rebate so you must notify the lender *(where allowable by state, NH, MA, VT, and ME allow this as long as they are a CLIENT).
• In order to receive the rebate, they must be your CLIENT in the transaction.
• The 20% rebate is calculated based on the gross commission on that transaction side (buyer or seller) and that amount will be deducted off the top of the gross commission. Your agent split will then apply for your net commission... since it is deducted from the gross commission, Bean Group is sharing with you the cost of the rebate back to the client.
• So, if sales price is $300,000 and sales commission is 2.5% = $7,500 gross commission, then rebate to client is $1,500.
• $7,500 gross commission - $1,500 client rebate = $6,000 x agent split = agent net commission.
• This is a great opportunity to attract new clients, win/save clients from competitive programs, and give back to our service men and women.
• PLUS... the client has the flexibility to choose their lender, USAA requires them to use theirs!

The Fine Print:

• All eligible transactions must be reported to the Relocation Department at relo@beangroup.com and you must email a copy of the Verification of Eligibility Form.
• It will be the Bean Group agent's responsibility to notify the Title Company or Closing Attorney of the 20% rebate of the transaction side gross commission and have that amount added to the settlement statement for credit or cash at closing to the eligible buyer or seller.
• If the Military Advantage participant is selling a property through a short sale process, then the rebate needs to be approved by all lenders prior to the closing.
• Rebate may affect Buyer's financing, it is your client's responsibility to check with their lender to see if the rebate is allowable and if it will impact their financing amount, especially in the case of VA Loans. The lender will need to be aware of rebate prior to creating Good Faith Estimate.