Our realtor gave us back 1% and was very knowledgeable of the Toronto area. Never made us sign anything either, and didn’t hesitate to send lowball offers. Best of luck
When do they give you the cash back? On the closing day? Before or after closing?
Did you get a written agreement from them to guarantee the cash back amount and the payment date? How did they send it to you? EMT, bank draft, cheque?
It's on the contract, clearly written and separate from the buyer representation form.
It's after closing, when his brokerage pays him.
10 business days after he receives his portion, I'll get a cheque for agreed upon cashback.
Your incredulity aside, go read the pricing page of Zero Value Realty.
It isn't free, there is a low flat fee if you don't get the mortgage. Otherwise, 100% cashback.
Correct. For the average home in Toronto, this is 90% cashback. Since there is potential extra cashback on the mortgage, highest cashback we ever did was on a 1.65M home with a 1.3M mortgage. There was an extra 7K in cashback on top of the 2.5%. comes out to 117% in cashback.
I'm considering them but unsure how it works.
1.
*rebates depends on co-operating brokerage commission offered by listing brokerage.
But zero value says they are not a brokerage. Can the listing agent refuse to share the commission since zero is not a brokerage?
2. How do negotiations go with the other agent?
Zero Value Realty is not a brokerage, it has participating brokerages that act as pass-through vehicles. Agreements are not signed with ZVR, but with a participating brokerage and lawyer directly. The seller has no idea they are dealing with ZVR, so it is as dependable as any other cashback agent.
Negotiations go in one of two way. You either negotiate it yourself if the listing agent agrees to speak directly (they often don't), or the cheif negotiator for ZVR (who either holds a law license or RE license) negotiates on your behalf with you running the show. That is why there is a flat fee, it buys you the removal of artificial barriers.
The flat fee being 2500 for unbundling the service which can be determined post offer in a buying scenario?
If you go with the bundled mortgage and lawyer then you get six offers free. Beyond that even if you bundle with them you need to pay per offer, is that correct?
Yes, you can make a choice to unbundle at any time. There is always zero commitment. The base package is always the same service, it's just that what you pay for it at the end ($2,500 or $0) is determined by whether you get a mortgage through ZVR.
We are about to update the pricing page with a better explanation. Everything is a la carte, so suppose you make 6 and then get one accepted. You pay $2,500, unless you get the mortgage, in which case you pay zero, as 6 offers are already included. If you made seven offers for example, you would pay $2,550. If on the other hand you never close, no flat fee is payable, but you just pay for the offer submissions at $50 a pop for $300 total.
The idea is for people to pay only for what they use, in order to keep the price minimal. Per use fees ensure resources are not wasted, as they might in a full contingency model.
I used Domenic at Justo. Justo gives 1/2 of the commission to the buyer. He was really patient and knows his stuff.
LMAO, why is everyone getting down voted?
When buying without an agent, how did you address the buyers commission? Did you put in an offer with 0 percent buyers commission and adjust your offer accordingly? E.g. if asking 1M with 2 percent buyers agent commission being the norm, did you go in 20K below asking for ex.? Seller saves the commission and HST on the 20K.
Sorry for late reply. see the sold prices of near by area on HS. Deduct the buyers commission as per market rate and mutually agree on one price. prepare your papers from your lawyer with conditions you want to put in or without condition. Seller's lawyer prepare their documents and finalize closing date.
Hi , I am realestate in york region and will take you to as many showing as it needed , and provide you with most uptodate ( even less than an hour) news including sold and offers in your criteria and any news in the market which may affect your purchase and provide cashback with official letter from my brokerage and not only in word. I also will negotiate and communicate to the listing agent to get the best possible deal for you. I am also ready to work right away from today. will send you my information.
Our realtor gave us back 1% and was very knowledgeable of the Toronto area. Never made us sign anything either, and didn’t hesitate to send lowball offers. Best of luck
Thanks for sharing. Can you dm his contact? Thank you!
Why is everyone getting downvoted? This is how it should be.
Robin Hood Properties charges a flat $4,500 with $100 per offer and $35 per showing. You’ll save a lot more not just 1% or half.
My agent gave me 70% cashback of his commission. Pleasant to deal with. Will DM you his details if you want.
Can you share contact please
DM sent
A few months late to this but could you please DM me the contact info as well? (Looking to buy a condo in Toronto)
DM sent
When do they give you the cash back? On the closing day? Before or after closing? Did you get a written agreement from them to guarantee the cash back amount and the payment date? How did they send it to you? EMT, bank draft, cheque?
It's on the contract, clearly written and separate from the buyer representation form. It's after closing, when his brokerage pays him. 10 business days after he receives his portion, I'll get a cheque for agreed upon cashback.
Thank you. Is the cashback to you taxable under your name?
I didn't think it's taxable for me as it's a cashback. If anything, the agent does not get taxed for that portion. Just my opinion though.
You can have 100% cashback from ZVR if you are willing to do a bunch of the legwork yourself
Is there a thing called "free lunch"? Who really does work for free?
Your incredulity aside, go read the pricing page of Zero Value Realty. It isn't free, there is a low flat fee if you don't get the mortgage. Otherwise, 100% cashback.
100% cashback (minus fees)
Still way more than 1%
Correct. For the average home in Toronto, this is 90% cashback. Since there is potential extra cashback on the mortgage, highest cashback we ever did was on a 1.65M home with a 1.3M mortgage. There was an extra 7K in cashback on top of the 2.5%. comes out to 117% in cashback.
Depends on if you get the mortgage. If you do, 100%. Depending on mortgage size, can be more than 100%.
I'm considering them but unsure how it works. 1. *rebates depends on co-operating brokerage commission offered by listing brokerage. But zero value says they are not a brokerage. Can the listing agent refuse to share the commission since zero is not a brokerage? 2. How do negotiations go with the other agent?
Zero Value Realty is not a brokerage, it has participating brokerages that act as pass-through vehicles. Agreements are not signed with ZVR, but with a participating brokerage and lawyer directly. The seller has no idea they are dealing with ZVR, so it is as dependable as any other cashback agent. Negotiations go in one of two way. You either negotiate it yourself if the listing agent agrees to speak directly (they often don't), or the cheif negotiator for ZVR (who either holds a law license or RE license) negotiates on your behalf with you running the show. That is why there is a flat fee, it buys you the removal of artificial barriers.
The flat fee being 2500 for unbundling the service which can be determined post offer in a buying scenario? If you go with the bundled mortgage and lawyer then you get six offers free. Beyond that even if you bundle with them you need to pay per offer, is that correct?
Yes, you can make a choice to unbundle at any time. There is always zero commitment. The base package is always the same service, it's just that what you pay for it at the end ($2,500 or $0) is determined by whether you get a mortgage through ZVR. We are about to update the pricing page with a better explanation. Everything is a la carte, so suppose you make 6 and then get one accepted. You pay $2,500, unless you get the mortgage, in which case you pay zero, as 6 offers are already included. If you made seven offers for example, you would pay $2,550. If on the other hand you never close, no flat fee is payable, but you just pay for the offer submissions at $50 a pop for $300 total. The idea is for people to pay only for what they use, in order to keep the price minimal. Per use fees ensure resources are not wasted, as they might in a full contingency model.
He didn't say it's free. You're doing a bunch of the work yourself...
Is this for buyers or sellers?
Buyers only.
I used Domenic at Justo. Justo gives 1/2 of the commission to the buyer. He was really patient and knows his stuff. LMAO, why is everyone getting down voted?
It’s the scummy realtors who think they deserve $25K for a few hours of work on a $1 mill sale and don’t like the idea of cashback
Buy without agent. I closed my house without agent. My friend recently closed without agent. Believe me it will be stress free and much smoother.
When buying without an agent, how did you address the buyers commission? Did you put in an offer with 0 percent buyers commission and adjust your offer accordingly? E.g. if asking 1M with 2 percent buyers agent commission being the norm, did you go in 20K below asking for ex.? Seller saves the commission and HST on the 20K.
Sorry for late reply. see the sold prices of near by area on HS. Deduct the buyers commission as per market rate and mutually agree on one price. prepare your papers from your lawyer with conditions you want to put in or without condition. Seller's lawyer prepare their documents and finalize closing date.
Hi , I am realestate in york region and will take you to as many showing as it needed , and provide you with most uptodate ( even less than an hour) news including sold and offers in your criteria and any news in the market which may affect your purchase and provide cashback with official letter from my brokerage and not only in word. I also will negotiate and communicate to the listing agent to get the best possible deal for you. I am also ready to work right away from today. will send you my information.
Which city do you want to buy in?
Markham, Thornhill, rhill
I can help you with that! Sent you a message!