Real Estate

Buying agent with most cash back?

Sr. Member
Sep 16, 2009
683 posts
474 upvotes
deal_with_singh wrote: Oh I've dealt with terrible sellers agents. Had a client who really wanted to put through an offer this weekend, but I noticed some light construction going on near by the unit, asked the sellers agent if he knew what was coming up, "I have no idea, I think its just the city doing work" was the answer i got.

Took me about 5 minutes to figure out that its another condo and that the amazing view the unit had currently was about to be completely obstructed, and quickly advised my clients against it.

Something like that could be the difference between 70% cash back and someone who knows what they're doing.

Buying a 700k condo for the view, you'll save about $13k from that agent, but in a year or so find out what you bought your unit for is gone...
Sure - but again as a buyer i am smart enough to pay attention to basic things as construction. Personally, I was advised by others not to go the route of cash back realtors when I did some purchases but i didnt pay attention to them. I was confident and informed enough to not be scared of it. Its the fear and lack of knowledge that leads most people to not use a cash back realtor. I think maybe if i was a first time buyer, I wouldnt be - but not my first rodeo. All I am saying is, if as a buyer you know the area you are buying in very well - which is really not difficult, then you are better of with the discount. If you dont, then you get the agent or a "good agent" at least. But again, its not for everyone - and definitely not for those who dont know what they are doing.
Member
Jun 1, 2019
245 posts
314 upvotes
oasis2002 wrote: Sure - but again as a buyer i am smart enough to pay attention to basic things as construction. Personally, I was advised by others not to go the route of cash back realtors when I did some purchases but i didnt pay attention to them. I was confident and informed enough to not be scared of it. Its the fear and lack of knowledge that leads most people to not use a cash back realtor. I think maybe if i was a first time buyer, I wouldnt be - but not my first rodeo. All I am saying is, if as a buyer you know the area you are buying in very well - which is really not difficult, then you are better of with the discount. If you dont, then you get the agent or a "good agent" at least. But again, its not for everyone - and definitely not for those who dont know what they are doing.
It is a fallacy that cash back agent means less experienced or lower service. There are many agents that offer a win-win scenarios for buyers : experienced/competent/honest buyer agent, and cash back.
Full Service Realtor
Niagara / Hamilton-Burlington
Sr. Member
Sep 16, 2009
683 posts
474 upvotes
Tailwind72 wrote: It is a fallacy that cash back agent means less experienced or lower service. There are many agents that offer a win-win scenarios for buyers : experienced/competent/honest buyer agent, and cash back.
Perhaps they do - They need to market themselves better though. I think as a buyer one is better off assuming the agent knows nothing. When you plan for the worst and use the agent as a system access conduit - you dont loose much.
Deal Expert
User avatar
Feb 11, 2009
19265 posts
7689 upvotes
Toronto
oasis2002 wrote: Perhaps they do - They need to market themselves better though. I think as a buyer one is better off assuming the agent knows nothing. When you plan for the worst and use the agent as a system access conduit - you dont loose much.
Couldn't have said it better myself.
Newbie
Aug 12, 2018
77 posts
34 upvotes
Looking into potential investment properties outside of the GTA, not working with an agent as of yet.

I'm looking to buy in Barrie/Niagara and currently live in Vaughan, looking for a realtor with experience in investment properties. I don't need hand holding, or driving me around.
Deal Fanatic
Mar 27, 2004
6688 posts
4593 upvotes
Toronto
deal_with_singh wrote: Oh I've dealt with terrible sellers agents. Had a client who really wanted to put through an offer this weekend, but I noticed some light construction going on near by the unit, asked the sellers agent if he knew what was coming up, "I have no idea, I think its just the city doing work" was the answer i got.

Took me about 5 minutes to figure out that its another condo and that the amazing view the unit had currently was about to be completely obstructed, and quickly advised my clients against it.

Something like that could be the difference between 70% cash back and someone who knows what they're doing.

Buying a 700k condo for the view, you'll save about $13k from that agent, but in a year or so find out what you bought your unit for is gone...
100%

you work with inexperienced realtor. they dont know where to look for zoning applications.
Full-time Realtor
Deal Addict
Feb 19, 2019
1571 posts
2357 upvotes
Stouffville ON
deal_with_singh wrote: Something like that could be the difference between 70% cash back and someone who knows what they're doing.
oasis2002 wrote: Sure - but again as a buyer i am smart enough to pay attention to basic things as construction. Personally, I was advised by others not to go the route of cash back realtors when I did some purchases but i didnt pay attention to them. I was confident and informed enough to not be scared of it. Its the fear and lack of knowledge that leads most people to not use a cash back realtor. I think maybe if i was a first time buyer, I wouldnt be - but not my first rodeo. All I am saying is, if as a buyer you know the area you are buying in very well - which is really not difficult, then you are better of with the discount. If you dont, then you get the agent or a "good agent" at least. But again, its not for everyone - and definitely not for those who dont know what they are doing.
“Cash back” and “good agent” are not mutually exclusive, checking what is happening in the area should be one of the first things done for every property and part of the whole package, real estate 101.
I am dealing with many agents who are full fee, and large percentage are completely useless, very evident during covid since they couldn’t even understand the forms and changes that were happening.
Like Oasis (101) said, the buyers should concentrate on the right balance of experience, level of service and a discount to achieve the best value, there is plenty of room for us to provide very good service and offer discounts, sadly many don’t do either.
Full Time and Full Service Realtor
Member
Oct 21, 2013
296 posts
148 upvotes
waterloo, on
Cashback should be a goodwill gesture only. and not way to "BUY" the client.

Thankyou for being my client. I am happy to share xx to cover your lawyer fee or whatever .

NOT

Select me over the other agent and i will give you 80% back of my commission.

Sadly latter is more prevalant now and thats how this profession looses respect.

oasis2002 wrote: Sure - but again as a buyer i am smart enough to pay attention to basic things as construction. Personally, I was advised by others not to go the route of cash back realtors when I did some purchases but i didnt pay attention to them. I was confident and informed enough to not be scared of it. Its the fear and lack of knowledge that leads most people to not use a cash back realtor. I think maybe if i was a first time buyer, I wouldnt be - but not my first rodeo. All I am saying is, if as a buyer you know the area you are buying in very well - which is really not difficult, then you are better of with the discount. If you dont, then you get the agent or a "good agent" at least. But again, its not for everyone - and definitely not for those who dont know what they are doing.
Serving Kitchener/Waterloo/Guelph/London/Hamilton/Niagara and surrounding areas
Deal Addict
Feb 19, 2019
1571 posts
2357 upvotes
Stouffville ON
DealsFreak wrote:

Sadly latter is more prevalant now and thats how this profession looses respect.
No, the profession has lost the respect because of the extremely low entry requirements, lack of professionalism, integrity and ethics by a significant number of people working in the industry.
I have been involved with business and finances for many decades, and have never faced such a low level of professionalism as I have in the real estate.
Nothing to do with discounts.
Full Time and Full Service Realtor
Deal Expert
User avatar
Feb 11, 2009
19265 posts
7689 upvotes
Toronto
senasena wrote: “Cash back” and “good agent” are not mutually exclusive, checking what is happening in the area should be one of the first things done for every property and part of the whole package, real estate 101.
I am dealing with many agents who are full fee, and large percentage are completely useless, very evident during covid since they couldn’t even understand the forms and changes that were happening.
Like Oasis (101) said, the buyers should concentrate on the right balance of experience, level of service and a discount to achieve the best value, there is plenty of room for us to provide very good service and offer discounts, sadly many don’t do either.
Like I said it doesn’t have to be mutually exclusive, but in most cases it will be. Someone offering you 80% cash back clearly doesn’t value their time. And those who don’t value their time probably aren’t “the best”. I was shocked to hear some agents are doing that since this discussion opened up yesterday.

I also agree on the other way too, a full fee agent may not be the brightest either. But it’s easy to figure out who those guys are.

It’s the equivalent of buying OEM vs after market on your car...the OEM will typically be the longest lasting/better quality, but you may not need it for long so an aftermarket may serve your purpose, or in some rare cases an after market may be as good or better
Deal Fanatic
Mar 27, 2004
6688 posts
4593 upvotes
Toronto
DealsFreak wrote: Cashback should be a goodwill gesture only. and not way to "BUY" the client.

Thankyou for being my client. I am happy to share xx to cover your lawyer fee or whatever .

NOT

Select me over the other agent and i will give you 80% back of my commission.

Sadly latter is more prevalant now and thats how this profession looses respect.
its prevalent because there are so many realtors. and more and more are discovering RFD as a source for solid clients. but there are also a lot of new realtors that are desperate to get a deal so they offer those very high rebates. I think consumers are smart enough to not always go with highest rebate. at least that is my experience. many have told me they worked w me because of experience over the higher rebate. but I cant really blame an agent offering 80% , they need to get their feet wet somehow.
Full-time Realtor
Member
Jun 1, 2019
245 posts
314 upvotes
oasis100 wrote: its prevalent because there are so many realtors.
Cash back is not prevalent because there are so many realtors. Its prevalent because 2.5% for ~50 hours of work is unreasonably high for the low entry requirements of the profession. We Realtors are not doctors. It could be argued that 1% for ~50 hours of work is also unreasonably high, but thats giving 60% cash back for a 2.5% listing.
Full Service Realtor
Niagara / Hamilton-Burlington
Deal Fanatic
Mar 27, 2004
6688 posts
4593 upvotes
Toronto
Tailwind72 wrote: Cash back is not prevalent because there are so many realtors. Its prevalent because 2.5% for ~50 hours of work is unreasonably high for the low entry requirements of the profession. We Realtors are not doctors. It could be argued that 1% for ~50 hours of work is also unreasonably high, but thats giving 60% cash back.
I think its combination of both. there are over 50k trreb members . people need to stand out over the next.
Full-time Realtor
Deal Addict
Jul 10, 2014
3148 posts
1388 upvotes
Ottawa, ON
DealsFreak wrote: Sadly latter is more prevalant now and thats how this profession looses respect.
The irony is palpable Face With Tears Of Joy
Member
Oct 21, 2013
296 posts
148 upvotes
waterloo, on
djdestroyer wrote: The irony is palpable Face With Tears Of Joy
ok Grammarly !
Serving Kitchener/Waterloo/Guelph/London/Hamilton/Niagara and surrounding areas
Deal Addict
Dec 19, 2004
3059 posts
59 upvotes
GTA
I enjoyed reading the back and forth on this. That said, looking for the services of a buying agent who can provide cashback. Looking at a single location with multiple properties for sale. Location is near Barrie, Ontario
Last edited by Rosico on Jun 23rd, 2020 11:15 pm, edited 1 time in total.
Member
Jun 1, 2019
245 posts
314 upvotes
Rosico wrote: I enjoyed reading the back and forth on this. That said, looking for the services of a buying agent who can provide cashback. Looking at a single location with multiple properties for sale.
Where?
Full Service Realtor
Niagara / Hamilton-Burlington
Newbie
Jun 23, 2020
2 posts
4 upvotes
Looking for an agent to buy a house in the Hamilton, Ancaster and Stoney Creek area of Ontario. Have two houses in mind. Looking for an agent to setup viewing and to assist in making the offer/negotiations. Purchase price in the 450K-550K range.

Please PM with your cash back incentives for working together on the buy. Thanks.
Sr. Member
May 7, 2015
585 posts
874 upvotes
Toronto, ON
looking for an agent to put in an offer, and give advise when needed. also need them to sell my current home. toronto - east end
Newbie
Jul 1, 2020
29 posts
11 upvotes
Looking for an agent who offers cashback to represent me for buying a house in Durham region. Ideally looking for an agent that offers greater than 1% cashback.

Please pm me with your contact information and I will be in touch.

Thanks!

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