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Anyone on here (realtor or buyer/seller) have any experience with the USAA Real Estate Rewards Network program. It pays rebates based on the sale/purchase price of the house to buyers and sellers who are USAA members and agree to use one of USAA's network realtors.
I would be very interested in learning more about this program and whether or not it is worth considering.
Thanks!
USAA doesnt pay the rebate...it is coming out of your agent's commission. And the agent then agrees not to tell you if they know a mortgage co with lower int rates or fees. USAA is taking their money, giving it to you and pretending they paid it. Then make the agent not able to do the fiduciary duty to you in return for having youreferred to them.
Talk to a variety of agents, and pick the best one. Compare rates and fees with a variety of mortgage companies, and ask your agent who is better about closing on time and sticking to their GFE and pick the best mortgage co. It does no good to choose a mortgage co and agent to save 1500. Or so, if they dont give good advice, and charge you higher rates and fees
Anyone on here (realtor or buyer/seller) have any experience with the USAA Real Estate Rewards Network program. It pays rebates based on the sale/purchase price of the house to buyers and sellers who are USAA members and agree to use one of USAA's network realtors.
I would be very interested in learning more about this program and whether or not it is worth considering.
Thanks!
We used it several years ago as a buyer.
The rebate we got was likely a referral fee paid by our real estate agent who turned out to be new to the business and just not very knowledgeable. She as difficult to work with as she had several other irons in the fir.
It was not worth it. A more experienced agent would have been a better bargain. I would never do it again.
We stuck with her because of the buiyer's agreement we signed.
Pay to Play is generally frowned on by regulators.
Quote:
Originally Posted by Brandon Hoffman
Moot thread. Movers Advantage Program ends effective Dec. 1. FWIW, as someone who's had many experiences with all of the different VA focused lenders, I think Navy Fed and Veterans United do better in the mortgage department anyway. USAA still has great service in the insurance side and other affiliated services, but they've always struggled with the mortgage side for some reason. I will add it's hit or miss, because it's luck of the draw when you call in to who you are assigned to work with. Some of their folks are much better, and they didn't do much to actually vet the agent partners for talent. They had a contract with Realogy in a pay to play deal (you pay us x% of the commission from the closed leads we send you and we'll send you leads).
They were fined 15.5 million by the CFPB for unfair trade practices. I believe they dropped the program because of the fine or perhaps in accordance to the fine, not got fined because they dropped the program. My wording may not have have been clear.
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