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Rebate Program

Why We Offer a Buyer Rebate?

Today’s buyers are savvy, and prefer to start their home buying process without an agent. In fact, by the time most buyers are ready to work with an agent, they’ve spent countless hours searching online, driven by homes and neighborhoods of interest, attended some open houses, researched school districts, and applied for a mortgage. All of this upfront groundwork creates a more efficient buying process, which saves us time, and we believe you should be rewarded for it.The truth is, Buyers don’t turn to Capital Key Properties because they need help finding homes or information; they turn to us because they need a professional to protect their best interests. As consultants, we provide expert advice and guidance, focusing on what’s best for our clients throughout the purchase process.

As the traditional role of the real estate agent changes, Capital Key Properties is on your side. We know you do a lot of the fun work in the process of finding your home (even though we are happy to help) and we are excited to offer a Buyers Rebate to credit you for doing so.

Like our competitors, we value our time and expertise, but where we differ, is we also value your participation in the process.

If we’re saving, you’re saving.

Is our Buyer Rebate Program right for you?

It’s a good fit for most buyers but there are requirements to participate in our program. We have a Buyer Rebate Program Agreement that lists our Buyer Participation Requirements, but you can also find them on this page (below).

How our Buyer Rebate Program Works:

 
  • Minimum Buyer Agent Commission Offered by Seller is 2.5% (Standard in the Capital Region)
  • Minimum Purchase Price to qualify for a Rebate is $150,000
Rebates by Home Purchase Price
  • $0 – $149,999: No Buyer Rebate
  • $150,000 – $199,999: $1,000 Flat Fee Buyer Rebate
  • $200,000+: 1% Buyer Rebate
Buyer Rebate Program – Buyer Participation Requirements:
  • Mortgage Pre-Approval (We can help): Financial documents must be supplied to your lender
  • Continue Online Search: Your search criteria might change and this will help to refine it
  • Property Analysis: Review all properties sent by me and provide feedback when necessary
  • Drive by Properties of Interest before a showing is scheduled
    1. Pictures Lie – Many homes are eliminated by the exterior and/or location
  • Attend Open Houses: With and without me
 

How Will I Receive My Buyer Rebate:

Buyer Rebates are usually handled in 1 of 2 ways:

  • Credit toward your closing costs – This method is preferred by most clients. Your rebate will show up on your closing statement as a credit, requiring you to bring less cash to closing
  • Check after closing – Directly from Capital Key Properties
    1. Delivered either at closing or 5-10 business days after closing

*Each Buyer/Mortgage is unique, which will require us to work closely with your mortgage lender and Attorney, to determine the best way to utilize your rebate.

*Rebate must be approved by your mortgage lender and be within your loan’s concession limits

 

Buyer Rebate Program: Legality & Tax Implications:

100% Legal

Commission rebates are 100% legal in NY

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100% Legal

In NY, it’s legal for an agent to offer a Rebate and for a client to accept a Rebate
  US DOJ  

NON-TAXABLE

The IRS has ruled that commission rebates are non-taxable

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NON-TAXABLE

Tax laws change so please feel free to consult a tax/legal professional
  See IRS Ruling  

NY ATTORNEY GENERAL

The NYS Attorney General encourages the use of Rebates

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NY ATTORNEY GENERAL

Price competition is rare in real estate. Our NYS AG is urging us to help through Rebates
  AG Open Letter  

NYSAR

In 2013, the NYS Association of Realtors issued a Memorandum in Support of Rebates

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NYSAR

Nothing shall prohibit a broker from offering any part of a fee, commission or other compensation received
  Read Memorandum  

Absolutely! Although, we like to think we offer better service and more value than our competition

No. You are free to find new buyer representation at any point. We encourage you to evaluate us throughout the process, which is why we don’t require you to sign a, buyer contract. We’re confident in the value we bring to our clients and we like to prove it.

No, but a Seller (FSBO) must agree to pay our minimum commission fee, which is 2.5% of the purchase price. 2.5% Buyer Commission is standard in the, Capital Region

No. However, we will have to confirm that your mortgage lender will allow the Rebate. In our experience, most do, but they have different disclosure requirements

Yes. They are legal in, NY. Read more about the legality of Rebates here

No. The IRS has determined that rebates are not taxable and you can read their ruling here.With that said, tax laws change so we advise you to speak with your accountant and/or attorney

No. Simply sign in with the listing agent and inform them that you’re working with an agent from Capital Key Properties - Give them the name of the agent assigned to you

Yes, but you must be working with Capital Key Properties before you register with a builder or they will not pay a buyer agent commission. Discounting on new construction homes is very rare and receiving a buyer rebate is a great way to save on your purchase.

Yes, as long as they meet our Buyer Rebate Program Participation Requirements

Buyer Brokers/Agents compensation is determined by the listing agent and seller. When a seller lists their home in the, MLS, they agree to compensate the buyer’s agent for helping bring about a successful sale. We are paid only after you close on your new home

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