Buyer’s Frequently Asked Questions
Do you charge any upfront fees?
We never charge upfront fees. Clayco Real Estate Group never charges our buyers anything. We rebate our commission to you at closing.
Is it legal for Clayco Real Estate Group to rebate a portion of their commission to consumers in Arkansas?
Yes, Arkansas law allows real estate rebates, but not all states allow rebates according to the Department of Justice. Commission rebates are 100% permitted and promoted by the U.S. Department of Justice: http://www.justice.gov/atr/public/real_estate/rebates.html
Should I call the listing agent to show me a home?
No, please do not call the listing agent. Call us to schedule a private showing. Some listing agents may claim that they deserve to keep the entire commission since they opened the door for you, thus we would not get paid and you would not receive a rebate.
Can I still use Clayco Real Estate Group if I already have an agent?
No, if you’ve signed an exclusive buyer-broker agreement then you will have to wait for that agreement to expire before you use our services. If you did not sign an agency agreement but were shown a particular property by another agent, then you cannot use Clayco Real Estate Group to purchase that property. If you did not sign an agency contract and you find another property on your own, then you can use Clayco Real Estate Group to purchase your next home.
Can I use Clayco Real Estate Group if I’m purchasing new construction?
Yes, the Buyer Reward Rebate Program is available for new construction, but you must have one of our agents accompany you on your first visit to the new construction office so we can register as your buyer’s agent and receive a commission for your rebate.
What about any bonus offered to the buyer’s agent? Is that part of the rebate?
Agent bonuses are not part of the rebate.
What if I find a For Sale by Owner home?
If the For Sale by Owner seller is offering a broker’s co-op fee of at least 3.0%, we will be able to work with you on this particular purchase. If they are not offering a commission, then we will not be able to work with you to purchase that particular house.
What can I use my rebate for?
Use your rebate to go shopping, to go to a Razorback games, or put it in your savings account for a rainy day. A lot of my clients prefer to use it to remodel their house or buy new appliances. We will give you a check after closing, and it is yours to do whatever you want with it.
Do I pay taxes on my rebate?
We advise you to consult a professional tax attorney or CPA in regards to your personal tax obligations regarding your rebate if applicable.
Can investors buy more than one property and receive multiple rebates?
Yes, investors can receive multiple rebates. It does not matter how many properties you buy.