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Buyer Cash Rebate

Buyer Cash Rebate

Tyler Real Estate Group

*Attention: You must mention the BUYER CASH REBATE at our first contact/meeting to be eligible!

Q: How does the Cash Rebate program work?

A: If you buy a ‘listed for sale’ home through us,we give 10% of the commission that we receive back to you as a Cash Rebate! Example: If you bought a $300,000 house, the total sales commission on the sale of the home would be $18,000. The listing (seller’s) broker would receive a commission of $9,000, and the Tyler Real Estate Group, being the buyer’s broker, would receive $9,000. This means you would get a $900 Cash Rebate!

*** It PAYS to work with the 'TYLER REAL ESTATE GROUP'- Ray & Linda Tyler!

When a seller decides to sell their home through a real estate broker, the broker they choose will always charge a commission. So, when you buy a home that has been listed through a real estate broker a commission is paid by the seller at closing. For an example, in Arizona, typically the commission is 5% - 7% (87% of the time it is 6%). Since it is the most common commission, we will use 6% for the rest of our example. This commission is split 50/50 between the listing broker and the broker that sells the house. If the listing broker sells the house, they keep the whole 6% commission. If another broker sells the house, the listing broker gets 3% and the broker who sold the house gets 3%.

Q: How is this Cash Rebate free to me as a buyer?

A: In a Multiple Listing real estate transaction the seller is required to pay a real estate commission for the services they received. You will pay the same amount for a home whether or not you use a real estate agent. If you do use an agent to buy a home you can expect the listing agent to keep all of the commission (6%). We on the other hand rebate 10% of our commission back to you as a Cash Rebate.

Q: Where do you get the money from to give me a Cash Rebate when I buy a house?

A: By being your representative on the buying side of the transaction, we are entitled, as in the example above, to a 3% commission. We then give you 10% Cash Rebate of that commission to you as a Cash Rebate.

Q: When do I get the cash rebate?

A: You receive your Cash Rebate at closing. It is directly credited to you on the closing statement.

Q: Couldn't I just get a discount from the seller or get a Cash Rebate from the listing agent?

A: It is always possible to get the seller to discount his/her asking price. However, getting our Cash Rebate is much different than negotiating a lower price on the home. You get our Cash Rebate in addition to the lower price that is negotiated. Example: You are looking at a house that lists for $300,000. We negotiate a deal that drops the price by 3% to $291,180. Then we give you 10% Cash Rebate of our commission. Your savings are: $8,820 from the negotiation and $882 from the Cash Rebate. For a total savings of $9,702! The listing agent isn't going to give you anything back. His contract is with the seller, and the seller is required to pay a 6% commission, no matter who sells it.

Q: I was going to buy a house from the listing agent because I saw their name and telephone number on the lawn sign or on the MLS listing. Couldn't I just get a discount from the seller or get a Cash Rebate from the listing agent?

A: Once again, getting a Cash Rebate is much different than negotiating a lower price. No matter what the final price is the seller has a contract with the listing agent to pay them the commission. If you buy the house through the listing agent (you call the phone number on the lawn sign) the listing agent gets the whole 6%. If you use another agent to represent you, that agent and the listing agent each get 3%. The added value we give you is that if you choose us as your buying representatives, we give 10% of our selling commission to you as a Cash Rebate.

Q: How do you make any money on this deal?

A: Using the example we had above, we would give you a $900 Cash Rebate and we would still receive a commission of $8,100. Remember, you are a savvy internet buyer. Your time and effort saved us time and effort.

Q: How Come I Can't Find Other Real Estate Agents Who Will Give Me A Cash Rebate?

A: Quite simply, they can't afford to for a number of reasons. Most agents working for large national firms (Coldwell Banker, Century 21, etc., you know the names) are paying up to half of their commission portion to their company. So instead of giving you a Cash Rebate they are paying to keep up the corporate headquarters, the company plane, the national convention, the Super Bowl commercial, and the CEO's salary. It's not their fault; they just don't have the money to give you a Cash Rebate.

Q: I don't want to pay more than I have to for a home, so I don't want to use a real estate agent at all. What do you have to say about that?

A: No matter whether you use us or not, you are going to pay the price for the home you purchase based on negotiations. Your advantage in calling us to assist you in purchasing a home is that we provide you with professional assistance in the selection of a home, the paper work, the negotiations, closing details, inspector references, lender references, etc. In addition, we are both ‘Certified Negotiation Experts’ and, as such, will always have your financial best interests as a top priority! It definitely pays to use us as your Buyer's Agents.

Q: Are case rebates like this one legal?

A: Yes. Since you as a buyer are a principal, providing you with a Cash Rebate is perfectly legal.

Q: Do I have to sign a contract with you?

A: No, we have no long term contracts with you to lock you in as some "Buyer’s Agents" do. We will, however, have an agreement on the individual home that you are interested in purchasing.

Q: I already have a contract with another realtor; can I still get a Cash Rebate from you?

A: Sorry, you can not get a Cash Rebate from us if you are represented by another Realtor.

Q: What kind of service can I expect from you?

A: We reduce commissions, not services! You can expect exceptional service from us. With over 35 years of experience, we know all the ins and outs of getting you, the buyer, the best deal. And, after we secure that deal, we will help you every step of the way until we are all at the closing table and shaking hands on the great deal we got you on your home as well as receiving a Cash Rebate on top of it all. Our experience allows us to also recommend, if needed, the best mortgage companies, title insurers, home inspectors, and other service providers.

Q: Can I get a Cash Rebate if I buy a new home?

A: Yes, many, if not most, builders will pay a commission when their homes are bought through a real estate agent. If you do not use us as your real estate agent when buying a new home, the commission is instead distributed internally within the builder organization which is of course no benefit to you. We will be happy to work with you in buying a new home from a builder. However, you must contact us first before you go visit the builder. This is a requirement of the builder. So, if you are thinking of buying a new home, please contact us first as it is the only way that we can provide you with a Cash Rebate, at closing, on your new home.

Q: Won't the builder just raise the price to pay you?

A: Arizona law forbids such a practice. The price of the home must be by Arizona real estate law the same whether you use an agent or not.

Q: In addition to the cash rebate, are there any other reasons I should work with you as a buyer's representative when I buy a new home?

A: There sure are! Builders specifically encourage and compensate buyer representatives to assist clients in their communities. Builders realize that most buyers shop both the resale market and other new home builders with their buyer's representative, and therefore plan on agent compensation as a part of their overall marketing program. However, builders will not encourage a buyer to use the services of an agent for the fear of losing the buyer to other homes or builders suggested by the agent. It cost you nothing to use our services when purchasing a new home from a builder and you even get a Cash Rebate from us. If you are still thinking of dealing directly with the builder, don't. Here is why:

  1. The builder salesperson is employed by the builder and only represents their interest.
  2. The builder's use their own contract with clauses written to protect the builder.
  3. You are on builder's turf! Builder sets the rules.
  4. The builder may limit the lenders available to you for financing the home if the builder assists in closing costs. This can cost you additional money!

So please, coordinate your initial visit to a builder with us.

Q: Financing: So… What is the difference between a Pre-Qualified and Pre-Approved Mortgage?

A: Pre-Qualified is merely an initial assessment that you may qualify for a mortgage loan and is the result of the data you supply at first contact with the loan officer. The lender will later consider the other data a lender has access to. Such as: Income Verification or Length of Employment, etc.

Pre-Approved is vastly different. It means that the lender, after considering your application and all available data, has made a formal commitment to grant you a loan for a specific amount of money. This allows you to shop with confidence for homes in your price range. In simple words, the preapproval letter tells the seller(s) that you have the financial means to buy their house.

Q: Why do you require that we be Pre-Approved for a mortgage?

A: There are two reasons why we do this. One is for our benefit; the other is for your benefit.

  1. For Your Benefit: A Pre-Approved home buyer has an enormous advantage when buying a home. Let us give you an all too familiar example we have seen: Two potential buyers tour a house. They both decide that this is the house they want to buy. Through their agents they both make an offer at the same price the home is listed for. One buyer is Pre-Approved and one is Pre-Qualified. Almost always, it is the Pre-Approved buyer whose offer is accepted by the seller. Why? Because the seller knows that getting a mortgage will not be an obstacle to closing the home sale and they can begin packing, etc.
  2. For Our Benefit: A great deal of a traditional agent’s expense outlay comes from spending time with the casual, un-prepared shopper. We are sure you would agree that the potential buyer who has gone through the steps of getting a pre-approved mortgage, indicates that they are clearly a serious buyer. We are un-traditional agents in that we prefer not working with the casual shopper even though we are sure they are very nice people. As a result, we show neighborhoods and homes only to serious buyers. We save an enormous amount of time and pass that savings on to you in the form of the Cash Rebate.

Q: Do I have to get my Pre-Approval and Mortgage through you?

A: Absolutely Not! Many of our buyers have existing relationships with favored lenders and we encourage them to continue that relationship. If need be, we know various mortgage brokers and lenders and we’re sure that one of them can find you competitive mortgage rates.

Q: I am a serious home buyer. I have been looking on the internet for a house, and have even found some we are interested in seeing. I am considering using your services to help me make a home purchase and get a Cash Rebate. Where do I start?

Contact Us

Tyler Real Estate Group / Ray & Linda Tyler / Cell Ph# 480-837-7653

**Disclosure: You must mention the Buyer Cash Rebate when you first contact us to be eligible for the rebate.

**Disclosure: If our final commission is based on a percentage rate less than 3%, the Buyer’s Cash Rebate will be factored on the lesser rate.

Payson Area Real Estate