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Every year we seem to hear of new ways for people to earn miles and points from sources that have absolutely nothing whatsoever to do with travel, and while I have no idea how long this source of miles has been around, I’ve just discovered that you can earn a substantial number of American Airlines miles when you buy or sell a home.
Miles From Home Realty Rewards
A program called ‘Miles From Home Realty Rewards‘ is currently offering people who are buying or selling a home 2,000 AAdvantage Miles for every $10,000 of the sales and/or purchase price of their home…but there are a few key terms that you should be aware of.
- AAdvantage miles are not available for properties purchased or sold in the following states: Alaska, Louisiana, Mississippi, New Jersey, Oklahoma, Oregon.
- The real estate program is not available in Iowa.
- Mileage rates are based on 2,000 miles per $10,000 value of the purchase or sale of the property.
- AAdvantage miles eligibility on real estate transactions:
- requires registration with the program and use of a participating real estate firm;
- requires initial introduction to the participating real estate agent/firm by a program Specialist;
- is restricted to properties not currently under contract to buy and/or sell; and
- is restricted to 1-to 4-family residential properties located in the US, its territories, and Canada.
- The AAdvantage miles are only available with the purchase and/or sale of your home through the use of a program-approved real estate agent.
The program’s realtor partners are:
- Better Homes & Gardens
- Coldwell Banker
- Century 21
- ERA Real Estate
- Corcoran
To participate, a buyer/seller will need to sign up for the program online or by calling 1-866-466-3010. They will be assigned a real estate agent local to them and providing their transaction goes through to completion, they will earn 2,000 miles for every $10,000 of value their property is sold for or for every $10,000 their new home is bought for. A purchase of a $500,000 home, for example, would net a buyer 100,000 AAdvantage miles.
Caution
Buying or selling a home is likely to be one of the biggest financial transactions most people will have to deal with in their lifetime so it’s not something to be taken lightly. Due diligence should never be rushed, research should be thorough and all fees should be carefully checked. Comparing the costs of using this service to the costs of using a realtor outside of this program would be a very good idea just to make sure that the cost of the bonus miles isn’t baked into the costs that you’re being charged.
In addition, the AAdvantage Miles that are on offer should only be viewed as a bonus and not as a key reason to use a realtor that partners with the Miles From Home Realty Rewards program. Buying or selling a home is a lot more important than a few miles, so the most important thing to do is to make sure that you’re working with a realtor that you trust and that is good at their job – if such a realtor also happens to partner with the Miles From Home program that should just be the icing on the cake.
Lastly, anyone considering earning AAdvantage Miles through this offer should first check to see if the Miles From Home program intends to send out a 1099 form that would leave them having to pay tax on the value of any miles earned. A quick chat with an accountant may also be advisable.
Bottom Line
The Miles From Home Realty Rewards program is currently offering homebuyers and homesellers 2,000 AAdvantage Miles for every $10,000 of the sales or purchase price of their home as an incentive to use one of their partners. While this may well be a very nice way to load up on AAdvantage Miles while also getting a good deal on a home you’re buying or selling, no one should be jumping on this opportunity without doing a few key checks first.
