SUMMIT REALTY
A vetted agent, and money back at closing
Summit Realty matches members with local real estate agents we have screened, then returns a credit to you when the sale closes. Using it does not require a Summit mortgage.
How matching works
From request to closing
Agents are independent professionals, not Summit employees. We screen them and we keep score.
Tell us what you are doing
Buying, selling, or both. Give us the town, the price range, and your timeline. It takes about five minutes and there is no application or credit pull.
We send you two or three names
Agents are matched on the specific area and property type, not on who paid the most for leads. Every agent in the network has closed at least 12 transactions in the last year and holds a current license in good standing.
You interview and pick one
Talk to all of them or none of them. If you already have an agent you trust, keep them. If none of the matches fit, tell us and we will send more.
Close, then receive your credit
After the transaction records, the credit is deposited to your Summit account within 30 days or applied at the closing table where state rules require it. You rate the agent, and that rating decides whether they stay in the network.
The member credit
What you get back
The credit is 0.5% of the sale price, on each side of a transaction, up to $6,500.
Sale price
Estimated member credit
How it is paid
$200,000
$1,000
Deposited after closing
$350,000
$1,750
Deposited after closing
$500,000
$2,500
Deposited after closing
$750,000
$3,750
Deposited after closing
$1,300,000 or more
$6,500
Program maximum
If you buy and sell through the program in the same move, both sides earn a credit. A member who sells at $350,000 and buys at $500,000 would receive $4,250 in total.
The credit is funded from the referral fee Summit Realty receives from the agent's brokerage and is not a discount on the agent's commission, which you still negotiate directly. The program is not available in every state, and in states where rebates to consumers are restricted the benefit is applied as a closing cost credit instead. You are not required to finance with Summit to participate, and financing decisions are made independently of this program. Membership eligibility required. Equal Housing Opportunity Lender. This is a demonstration website; programs, rates, and figures shown are illustrative only.
With a Summit mortgage
The two halves talk to each other
You can use Summit Realty with any lender. When you pair it with a Summit mortgage, the loan officer and the agent work from the same file, so the preapproval letter, the appraisal order, and the closing date are coordinated by people who can reach each other by phone.
Summit currently prices a 30-year fixed at 6.375% and a 5-year adjustable at 6.216%, and services most of its own loans rather than selling them off after closing. If you already own and are moving up, a home equity line at 6.625% can cover the deposit on the next place before the first one sells.
Questions before you sign anything
Does the agent charge me more to cover Summit's referral fee?
They should not, and commission is still yours to negotiate before you sign a representation agreement. The referral fee comes out of the brokerage's side of the commission. Ask the agent to confirm the rate in writing, as you would with any agent.
What if I do not like any of the agents you send?
Tell us and we will send different names, or you can walk away entirely. You are not committed to anything until you sign an agreement directly with an agent, and Summit Realty is not a party to that agreement.
Is the credit taxable?
Generally a buyer's credit is treated as a reduction in the purchase price rather than income, and a seller's credit reduces proceeds. That said, we are not tax advisors and your situation may differ, so ask yours before you plan around it.
Can I use this on an investment property?
Yes for one to four unit residential property, including a rental you plan to hold. Commercial property, raw land, and new construction purchased directly from a builder are excluded because there is usually no buyer-side agent to refer.
How long does the whole thing take?
Agent matches usually arrive within one business day. The transaction itself takes as long as it takes, and the credit lands within 30 days of the deed recording.
Start with the agent, not the listing
Tell us the town and the price range and we will have names to you tomorrow.