Ten states, including Oregon, forbid buyer’s brokers from rebating a portion of their commission to the consumer. Should Oregon be in the same company as Alabama, Mississippi, Louisiana, Tennessee, Oklahoma, Missouri, Iowa, Kansas and Alaska when it comes to creating competition that ultimately benefits the client? A rebate equal to one percentage point of the sale price, which is commonly offered in states that allow rebates, would reduce the commission on the median-priced home by $1,843. Check out the DOJ's stance: http://www.justice.gov/atr/public/real_estate/rebates.htmlNothing in subsection (1) of this section is intended to prevent an Oregon real estate broker or principal real estate broker from rebating or paying a share of the broker’s or principal broker’s commission resulting from a real estate transaction to a principal of the transaction.
Besides companies like USAA and Navy Federal Credit Union, there's an online real estate brokerage company, Redfin, in Seattle, WA that has taken 19 residential real estate markets by storm. They've been able to grow quickly, primarily because they have raised the bar and are providing the people with a significant savings. Glenn Kelman, Redfin's CEO says it best: "What you have to realize is that 90 percent of the cost of real estate is prospecting for clients. So you have an enormous number of people closing six or seven deals a year who spend all their time beating the streets looking for new customers. But if you build a beautiful website that publishes more information than any other, folks are going to beat a path to your door."
Well, it's official—Match Day 2010 is upon us. At this very moment, more than 15,000 medical students across the country are learning where they'll spend their post-graduate years. It's a life-changing moment for emerging physicians, one that will help shape both their professional and personal lives.
Many physicians are faced with the task of moving to another state to start their residency, presenting a whole slew of challenges. Questions like "should I rent an apartment, or buy a home?" and "what are the best school systems in my new hometown?" start cropping up left and right. Google searches shift from "best residency programs" to "doctor home loans" and "change of address how-to." It's easy to get overwhelmed.
A recent Physician Relo client remarked that "becoming a doctor is already stressful enough—and on top of it, I've got to deal with getting home financing? It's a nightmare!" Luckily, our website was her first stop, and we were able to help her secure 100% financing and set her up with an awesome Realtor® in Cincinatti. The only downside is that she'll probably be spending more time in the hospital than her new townhome.
This snippet from an NPR essay by Match Day author Brian Eule captures the essence of the journey new residents are about to embark upon:
"Just three months from Match Day, they fill the halls of hospitals, responsible for patients and learning the aspects of medicine that school could never teach them. Lives begin and end in front of their eyes. Days blend into one another, in 24-hour shifts and 80-hour workweeks. Spouses are left alone, sleep is disregarded, and healthy habits often abandoned. They enter one of the most taxing professions, one that will demand everything of them in these first years, and hopefully train them to be the caring, competent people the rest of us turn to for our well-being."
The entire Physician Relocation Specialists team is in awe of the undertaking doctors endure as they continue on their paths to successful careers in medicine. We are in your debt, and we are so happy to be able to help you along the way. Congratulations.
To learn more about the physician home loan or to get connected with a Realtor® in your destination city, contact us.