DwellWell, a Los Angeles-based homebuying platform, has introduced a rebate program that is being promoted as “a solution for cash-strapped homebuyers.”
According to the company, if buyers use an agent from DwellWell’s network to purchase a property, DwellWell’s agent will share a portion of their commission back with buyers in the form of a closing cost credit. For example, a buyer who purchases a $500,000 property will typically receive a credit at close between $3,750 and $4,500, depending on their agent’s commission percentage.
DwellWell requires agents that use their platform to share 30% of their commission. For a limited time, this share of commission will go entirely to the homebuyer – the company plans to take a small part of the commission in the future.
“We created DwellWell with an obsessive focus on the homebuyer. We are always looking for creative, new ways to make home buying simpler, more accessible, and less painful,” said Matt Canzoneri, CEO of DwellWell. “Cash back is probably our biggest benefit to date. It addresses the biggest pain buyers feel at the moment they feel it the most.”
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