Frequently Asked Questions For Buyers
General
Q: Why should I go with your agency rather than other agencies who do not charge me by the hour?
A: Other agencies typically keep the entire commission they receive as payment for services. This is often very significant. We offer our services by the hour and rebate all of our commission to you. As we provide services to you, we keep a record of our time. When you buy a home, we deduct those from our commission and send you a check for the remaining commission funds. This can be thousands of dollars. See the About Us section for more about our philosophy on Real Estate services.
Q: How much should I expect for the commission rebate if I purchase a home through your agency?
A: It varies depending on the Seller, but a typical commission for a Buyer is approximately 3% of the sales price.
Q: If I don't buy a property, do I still pay?
A: Yes, we keep a record of our time, and if you choose not to purchase a home with us, outstanding charges will be billed for payment.
Q: What if I want to switch to another agency?
A: You can switch at any time without penalty but will be billed for any outstanding hourly charges accrued up to that point. Another agency may be unlikely to rebate you their commission when you do buy a home though.
Q: If I choose to buy a home using New Option Realty, when do I get my rebate?
A: Upon our receipt of the commission from the seller, within 72 hours you will be mailed a check. Usually it takes approximately 1 - 3 days after closing on the home for us to receive the commission. This could be longer and you will be notified if we are aware of any delays.
Q: How are billable "hours" defined?
A: Hours are defined as the total time spent with the New Option representative. Time is recorded from the time the representative meets you until he/she leaves you.
Seeing Properties
Q: What if I schedule to see a property and don't make the appointment?
A: You will be billed for the time scheduled.
Q: What if I schedule to see a property and New Option's representative doesn't arrive for the appointment?
A: We strive for excellent customer service. However if this should happen, you will not be billed for the missed appointment and will receive a 30% discount on the next appointment.
Q: What if I need a bit more time beyond the scheduled time block?
A: Let our representative know and they will accommodate you if possible. You will be billed for the additional time rounded up in 15-minute increments.
Q: During my scheduled time block, what flexibility do I have in rearranging the viewing order of the properties or adding additional properties?
A: You can rearrange, remove, or add any properties during your scheduled time block. You will still be billed for the full scheduled time block and any additional time that you might incur.
Q: How much time should I schedule to view a property?
A: That varies largely depending on the individuals and the properties. It can take as little as 5 minutes, to an hour, or even more. We suggest that you allot about 30 minutes for each property plus driving time if they are far from one another.
Q: Am I guaranteed to see a particular property during the requested time?
A: No. We will have to make the appointment with the Seller and confirm back with you.
Q: How far in advance should I schedule my appointment?
A: We will set up an appointment with the Seller and send you a confirmation within 4 hours of your request. However, this can take much longer if we cannot contact the Seller. We require at least 3 hours prior to the desired viewing time (8 hours is highly suggested).
Q: What's the difference between an Agent and an Unlicensed Assistant?
A: Our Agents are licensed by Texas Real Estate Commission and can offer advice on properties, neighborhoods and the real estate buying and selling process. Our Unlicensed Assistants will not offer any advice and will only be available to provide access to properties. Any questions that arise regarding the property or the purchase of the property must be referred to our office. For more information, see http://www.trec.state.tx.us/newsandpublic/publications/specialtopics/unlicensed-assistants.asp.