As if low interest rates and flexible mortgages weren’t enough of an incentive to buy a home, several companies are now offering reward points that can save you thousands of dollars on your next real estate purchase! If you’re selling your home, not to worry – the points and savings apply to you, too. We investigated several popular reward programs to bring you the scoop on some of the best incentives for homeownership since the white picket fence.
Air Miles Rewards
Most people have collected points of one kind or another, whether it’s for drugstore purchases or free groceries – but the granddaddy of them all is the Air Miles program. If you have bemoaned the length of time it takes to collect enough points to go anywhere more interesting than Sudbury, the new AIR MILES Reward Program for real estate transactions might be your solution. At last, enough points – all in one shot – to really fly away!
The scoop: If you max out at the 1500 reward miles, you can earn a flight to New York, or other goodies like electronics, entertainment packages and more.
The bonus: Exclusive for GOLD Collectors, earn 200 Bonus AIR MILES reward miles when you buy or sell a property through CENTURY 21.
The catch: You have to work with a Century 21 agent. And you have to submit your request for miles within 12 months after the closing date of your transaction. And the offer is valid until April 30, 2010.
Aeromove
If you collect Aeroplan points, there’s also Aeromove, a home and move services program available exclusively to Aeroplan® Members. Whether you’re buying a home, selling a home, moving anywhere in Canada or refinancing, Aeromove can help you through the process.
The program: Aeroplan connects you with qualified real estate agents, home inspectors, movers, lawyers, junk removers and more. You earn Aeroplan Miles every time you use these services, making it a one-stop shop and letting you earn points just for joining Aeromove.
The scoop: At 1,500 Aeroplan Miles for every $10,000 in home value purchased or sold when you use a cooperating Aeromove real estate agent, plus additional Miles for other transactions like legal services, a typical transaction of $500,000 earns enough miles to buy THREE round trips to New York.
The catch: You have to use an agent registered with the Aeroplan program. You have to deal with restricted flight availability. You have to navigate the annoying Aeroplan website.
Travel miles not your thing, maybe you’d like gift cards instead?
Sears Certified Real Estate Services
One service gets you really close - Sears Certified Real Estate Services, which lets you earn thousands in Sears Gift Cards when you buy or sell your home – gift cards you can take into a store and use.
If you sign up with a Sears Certified Agent, when you buy or sell your home, you’ll earn 0.6% of your home’s value in Sears Gift Cards.
The program: Fill out an online form to sign up and you’ll be referred to a Sears Certified Agent ideally suited to help you find or sell your home. Sears Certified Agents come from several different national brokerages like RE/MAX, Royal LePage, Sutton Group, Coldwell Banker, Prudential, Homelife or Century 21. They’re chosen for their years of specialization in the communities they serve, and have been certified as meeting high standards for experience, dedication to customer service and demonstrated results.
The scoop: If you buy or sell a $500,000 home, you get $3,000 in gift cards (check out the Sears Reward Calculator to find out how much you can earn.) That’s enough for a new living room.
The bonus: You’ll also receive a Sears Home Savings Book when you sign up, with special offers that could save you hundreds on furnishings and home improvements.
The catch: Uou have to work with one of the Sears-certified agents to earn the cash rewards.
Because gift cards are so much like cash, they are easy to use.
Here’s what people are saying about the Sears program:
“We earned 0.6% of our house price in Sears Gift Cards by using the referral service. Now we’re using those gift cards to help outfit our home. I feel like we got the most for our dollar. If I’m getting points every time I buy a pair of jeans or a slice of pizza, why shouldn’t I expect an incentive when I’m buying something as big as a house?” —Julianne of Hamilton
Obviously, the only way an incentive – whether it’s airline points or a free TV from your Realtor – will work for you, is if there’s no negative difference in the real estate process. After all, if the agent representing the rewards program doesn’t do a good job, no amount of points will compensate you for lost money and hassle. But because the current reward programs screen their agents first, to ensure they’re professional and knowledgeable of the market, it might be worth it to let someone else select your agent. You can always interview the affiliated agents to see if they’re a good fit for you, before you sign anything.
After you buy or sell a house, a trip to New York might be just the thing to get away from it all. But Certified Real Estate Services offer greatest freedom of choice because gift cards can be used for so many more things. And remember, you can earn points on the buying AND selling of your old and new house.
Look for real estate related points programs to continue to grow in 2010.
