- Homebuyers using Bilt’s real estate loyalty program can earn 1 point for every $2 spent on a home’s purchase price.
- Rewards points can be redeemed for travel, rent payments, and fitness memberships, adding significant post-purchase value.
- Rising home prices and mortgage rates make financial incentives more attractive to prospective homeowners.
- Bilt’s program differs from traditional homebuying incentives by offering ongoing rewards rather than one-time discounts.
- If successful, real estate loyalty programs like Bilt’s could become a growing trend in the housing market.
Loyalty rewards programs have long been a staple of industries like travel, dining, and retail. Now, they’re making their way into one of the largest financial decisions people make: buying a home. With home prices and mortgage rates at elevated levels, homebuyers are increasingly seeking innovative ways to reduce costs or gain added benefits. A relatively new concept in the housing industry, real estate loyalty programs—such as Bilt’s initiative—allow buyers to earn points on home purchases, offering financial rewards on an otherwise high-cost transaction.
Understanding the Bilt Home-Buying Rewards Program
Bilt, a platform initially launched to reward renters for on-time rent payments, has extended its offerings into home purchases. This shift allows prospective homeowners to earn valuable rewards points when purchasing a property. Here’s a breakdown of how Bilt’s real estate loyalty program works:
Step-by-Step Process to Earn Points with Bilt
- Become a Bilt Member
- Membership is free and open to anyone interested in earning rewards.
- Users gain access to Bilt’s platform, which helps track rewards and explore housing options.
- Search for Homes via Bilt’s Platform
- Unlike traditional real estate search tools that focus on total home prices, Bilt’s system organizes searches based on what buyers can afford month-to-month.
- This affordability-focused feature helps demystify the homebuying process for first-time buyers.
- Work with a Bilt-Approved eXp Realty Agent
- Bilt has partnered with eXp Realty to ensure participants work with certified agents who can facilitate the home purchase process.
- Buyers must use an eXp Realty agent through Bilt’s system to qualify for the rewards program.
- Earn Points on Closing
- Buyers earn 1 Bilt point per $2 spent on the home’s price.
- Points are automatically deposited into the buyer’s Bilt account after closing.
How Can You Use Your Points?
Once deposited into the system, these points can be redeemed for various benefits, making them a valuable post-homebuying asset:
- Travel expenses – Book flights, hotel stays, and even Airbnb rentals using accumulated points.
- Rent payments – If homebuyers still have rental obligations or own investment properties, points can be used to offset rent costs.
- Fitness & Lifestyle Rewards – Points can also be redeemed for gym memberships, fitness classes, and exclusive rewards experiences.
By integrating home purchase decisions with a rewards system, Bilt has created a unique financial incentive for buyers looking to maximize the value of their major investment.
The Benefits of Earning Points When Purchasing a Home
1. Adding Value to an Expensive Purchase
While buying a home remains a significant milestone, the process often comes with financial strain. Earning points on a home purchase won’t reduce the sticker price but does provide additional financial leverage, which can be useful in the long run.
2. Versatile Redemption Options
Unlike cash-back programs limited to immediate discounts, Bilt’s points-based ecosystem offers flexibility. Whether a buyer is focused on travel perks or reducing future rent costs, there’s value to be gained.
3. A More Transparent Buying Experience
By integrating home affordability considerations directly into the platform, Bilt helps prospective buyers make informed decisions based on their actual financial situation, not just listing prices.
4. Aligning with Long-Term Wealth Strategies
Earning rewards alongside a major investment like homeownership could align with broader wealth-building strategies, especially for individuals who frequently use loyalty programs to optimize daily spending.
How Bilt’s Program Compares to Other Homebuying Incentives
Homebuyers often encounter various seller and lender incentives to help reduce costs. Here’s how Bilt’s home buying rewards stack up against more traditional offers:
| Homebuying Incentive | How It Works | Comparison to Bilt’s Program |
|---|---|---|
| Mortgage Rate Buydowns | Sellers or lenders lower the buyer’s mortgage rate temporarily to reduce monthly payments. | Immediate cost-saving benefit but no long-term rewards. |
| Closing Cost Contributions | Sellers cover part of the buyer’s upfront closing fees. | Direct savings at purchase; no post-closing benefit. |
| Home Warranties | Sellers provide a free warranty covering home systems for a period after closing. | Protects against repairs but doesn’t offer financial flexibility like rewards points do. |
| Bilt Homebuying Rewards | Buyers earn points post-purchase, redeemable for travel, rent, and lifestyle rewards. | Adds long-term value without directly lowering upfront costs. |
Unlike one-time cost reductions, Bilt’s real estate loyalty program provides an ongoing benefit in the form of points accumulation, which may be more appealing for buyers looking beyond their home purchase.
Does a Points-Based System Influence Buying Decisions?
Experts have mixed opinions on whether financial rewards like loyalty points are substantial enough to affect homebuying choices.
- According to Lawrence Yun, Chief Economist at the National Association of Realtors, while the program is an interesting concept, it is unlikely to be a deciding factor in purchasing decisions (Yun, 2023).
- However, psychological research suggests that even minor financial incentives can create positive reinforcement, potentially making a certain platform or real estate brokerage more attractive to buyers.
Ultimately, the effectiveness of home buying rewards depends on whether buyers see tangible benefits relevant to their lifestyle.
Who Should Consider This Real Estate Loyalty Program?
Bilt’s program is best suited for:
- Frequent Travelers – Those who regularly book flights or hotels will find significant value in earning free travel rewards through their home purchase.
- Current Renters Using Bilt – Existing Bilt members already accustomed to earning rewards on rent payments can transition into homeownership without losing their rewards benefits.
- Buyers Looking for Extra Perks – Homebuyers who appreciate loyalty programs will enjoy earning post-purchase rewards they wouldn’t otherwise receive.
However, individuals focusing strictly on upfront savings may find other homebuying incentives more valuable, such as seller-paid closing costs.
Looking Ahead: Could Realty Rewards Become the Norm?
With rising home costs making affordability a critical issue, it’s possible that more businesses will explore ways to integrate loyalty programs into real estate transactions. If a wider range of mortgage lenders and real estate firms embrace the concept, home buying rewards could become a more widely available consumer benefit in the future.
Key Takeaways
- Bilt’s program is unique in offering ongoing rewards rather than one-time discounts.
- The value of earned points depends on lifestyle preferences, with redemptions available for everything from travel to rent payments.
- While not a decisive factor, real estate rewards may attract certain buyers looking for additional perks.
- As the real estate landscape evolves, new loyalty options could emerge, influencing how homebuyers approach purchasing decisions.
For those in the housing market, a real estate loyalty program like Bilt’s won’t replace traditional incentives—but it will offer an added advantage in an increasingly competitive environment.
Citations
- Yun, L. (2023). Statement on the impact of home-buying reward programs in the real estate industry. National Association of Realtors.
- Jain, A. (2023). Explanation of Bilt’s reward system for home purchases. FOX Business.
- National Association of Realtors. (2023). Current housing affordability trends and market constraints. Realtor.org.