Frequently Asked Questions

Q: What can I expect when buying real estate with Jack Schoberg as my agent?

A: Besides 1.25% cash back, you’ll also receive:

• Regular updates on new properties that match your search criteria.

• Private showings for any properties you like.

• Complimentary Virtual Showings (with exclusive representation) for any property you want to view but choose not to in person (for properties local to Jack Schoberg).

• We will review a plan regarding the offer price, financing terms, interest rate, possession date, inspection details, and further negotiations for defects found during inspections.

• We regularly research and locate properties not readily available online (unlisted, bank foreclosures, new construction, FSBO, auction, tax sale, etc.). We will notify you when we find any that fit your search criteria.

• At your request, I will write offers to submit on your behalf, complete with terms, provisions, stipulations, and amendments prepared in your best interest. We will perform negotiations to secure the property for the best possible terms and price.

• I will be available to answer any of your questions & you are never under any obligation to purchase a property.

Q: How much is a 1.25% refund?

A: When calculating a 1.25% refund, this works out to be $12,500 back for every $1,000,000 spent on your real estate purchase. ($1,000,000 • .0125 = $12,500) (Price • .0125 = Refund). Please see the examples below as a quick reference, or try out our commission rebate calculator.

$300,000 Purchase Price = $3,750 Refund

$500,000 Purchase Price = $6,250 Refund

$700,000 Purchase Price = $8,750 Refund

$1,000,000 Purchase Price = $12,500 Refund

$3,000,000 Purchase Price = $37,500 Refund

buyer’s agent commission calculator

Use the calculator below to determine the rebate amount for a given scenario

PROOF OF FUNDS:

The first step in buyer representation will ensure that any offer you make is viewed confidently by listing agents and their clients, knowing that you have the financial strength to perform, follow through, and close under the terms of your purchase offer. This, of course, is having “proof of funds” (known as “POF”) and is important for all buyers, both cash buyers and buyers using a loan alike. POF should be secured before signing a 1.25% refund agreement or an exclusive representation agreement.

Most listing agents ask for POF when scheduling to view one of their properties. If POF isn’t requested when viewing a property, it is expected when submitting an offer. A good reminder of the importance of POF is that there’s a space for it on the California Residential Purchase Agreement. In cases when POF is not submitted with the offer, it will undoubtedly reduce the strength of your offer (for example, if a competing offer from another party comes in with POF, it will be viewed as favorable since everyone involved in closing escrow will have more confidence in the offer with POF). In cases when POF hasn’t been submitted with the offer or before, and the offer is accepted, it would be requested again when escrow opens. To summarize, when a buyer doesn’t have POF in the early stages of purchasing real estate, everyone on the sell side tends to be weary or anxious when moving forward. Therefore, it’s best policy to have POF available early on so that you are viewed as favorably as possible from the start.

Items Required to Satisfy POF:

A typical example of POF would be 1.) proof of down payment amount in a checking account or investment account (as long as there’s enough liquidity to access the funds within the time needed upon receiving an accepted purchase offer) + a recent pre-approval letter from your lender, or 2.) if making a cash offer then just proof of funds ( in checking/saving accounts or investment accounts w/ adequate liquidity) totaling enough to cover the offer price). Sensitive information such as account numbers should be redacted, leaving only your name and balance visible.

For the reasons stated above, having “proof of funds” at the start of representation is required to show listing agents that my clients are serious and to give their offer the best chance of acceptance. 

There are a few situations in which I will work with buyers regardless of proof of funds, such as when a client is not seeking exclusive representation or if a client needs to see a property on short notice and intends on getting POF. In these situations, a $150 fee is charged on a property-by-property basis to ensure that the showing is in good faith. The client is still eligible for the 1.25% refund, and the “good faith” charges of $150/showing are refunded upon successfully purchasing a property. ( the $150 is refunded that was paid for viewing the purchased property + $150 refunded for each paid showing leading up to the purchase + the 1.25% refund).

For new clients seeking buyer representation, please email your “POF” to jack@jackschobergrealestate.com or use the form below to upload.

If you need to view properties without proof of funds, payments can be submitted below at $150/property (which, as mentioned, is refunded upon closing escrow on your real estate purchase).

ELIGIBILITY NOTES:

Buyers who choose Exclusive Representation from Jack Schoberg and have a signed agreement are eligible for the up to 1.25% Cash Back Refund/Commission Rebate offer.
MLS listings where the listing agent offers the buyer’s agent a 2.5% commission (which is the most common amount offered) are eligible for a “1.25% Cash Back Refund”. Should the commission amount provided by the listing agent be less than 2.5%, the cashback offer becomes a 50% Commission Rebate / Refund (ex., 2% commission offered by the listing agent – with a 50% commission refund – equals a 1% refund of the purchase price).

The “Up To 1.25% Cash Back Refund” is an exclusive offer of Jack Schoberg for his Buying Clients.

For eligibility, it’s important to remember the following points:
When viewing a property for the first time… 1.) Ideally, you should be accompanied by your agent, Jack Schoberg. 2.) It should be during an open house, or 3.) If the seller or their agent asks, let them know that you have an agent (Jack Schoberg DRE#02078776).

It’s helpful if agreements are in place at the beginning of the buying process. Having a signed Exclusive Buyer’s Representation Agreement with Jack Schoberg before you view any properties can help prevent future disputes (if another agent claims to have first introduced you to the property that you are purchasing)

If you don’t meet the above conditions, or if you first view a property while accompanied by another agent, the refund agreement might become forfeited for that property since there could be a potential conflict regarding which agent earned the commission.

New Buyer Registration/Details Submittal Form