Real Estate

Buying agent with most cash back?

Newbie
Feb 17, 2021
1 posts
3 upvotes
Hello,

Looking for an agent with good cashback for buying a townhome in the east end (anywhere from Markham to Oshawa).

Thank you!
Newbie
Feb 19, 2021
1 posts
4 upvotes
Looking for an agent to help buy a house in the Mississauga area (nearby Erin Mills), looking to spend roughly $1.4M. We have a good idea of what we're looking for and need an agent that will assist with forwarding to us newly listed houses that meet our criteria, arrange showings, and then submit the offer. Looking to do a 70/30 cashback, which should mean about $10K for the realtor on a $1.4M purchase.

Thanks!
Sr. Member
Nov 21, 2007
629 posts
84 upvotes
Looking for a motivated and seasoned realtor in the Barrie area that can help with purchase and lease with most CB.
Willing to do all research on purchase by ourselves but must poses good ability to screen and recommend tenants. Looking for an end unit TH or potentially a SD with a owner occupied upper or lower)

Realtor references would be a plus.

TIA
Newbie
Dec 24, 2012
18 posts
78 upvotes
SCARBOROUGH
It's like a copy paste of the previous postSmiling Face With Open Mouth And Smiling Eyes. Looking for cash back realtor in a very specific area near Erin Mills TC with a estimated purchase price of $1.4- $1.5M. Looking to hopefully close the deal in the next month or so.
Jr. Member
Nov 21, 2013
185 posts
57 upvotes
Markham, ON
Looking for realtor with decent cashback as well to make some assignment condo offers.
Deal Expert
User avatar
Feb 11, 2009
19265 posts
7689 upvotes
Toronto
orangedude2 wrote: Looking for realtor with decent cashback as well to make some assignment condo offers.
Assignments can get tricky, just make sure the person you're using knows what they're doing (I doubt anyone offering you 80% cash back for instance fits that category)
Deal Addict
Apr 29, 2010
1187 posts
2321 upvotes
GTA
Tailwind72 wrote: Also bear in mind that if you see a property with the listing agent, the listing agent is ethically and contractually bound to work in the best interest of the Seller - NOT you, the buyer. Sellers, of course, love it when Buyers see their property with their listing agent - its win win win for the Seller.
Wrong!

Its a win-win for the buyer to see the property with the listing agent
Member
Jun 1, 2019
245 posts
314 upvotes
lolbeast wrote: Wrong!

Its a win-win for the buyer to see the property with the listing agent
Plz explain your position. Factor in that Buyers can get cash back, i.e. half of the Buyer's agent commission or more, when viewing a property with their own agent (not the Seller's agent)
Full Service Realtor
Niagara / Hamilton-Burlington
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Feb 11, 2009
19265 posts
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Toronto
Tailwind72 wrote: Plz explain your position. Factor in that Buyers can get cash back, i.e. half of the Buyer's agent commission or more, when viewing a property with their own agent (not the Seller's agent)
Don't entertain him, he's just a troll for anything to do with RE Agents.
Deal Addict
Apr 29, 2010
1187 posts
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Tailwind72 wrote: Plz explain your position. Factor in that Buyers can get cash back, i.e. half of the Buyer's agent commission or more, when viewing a property with their own agent (not the Seller's agent)
There are roughly two scenarios when buying with the listing agent:

1. The agent collects full fee

This is great for the buyer, the agent has a huge conflict of interest to push this buyer's offer through. The agent would stand to make 2.5% plus the listing 1% fee or whatever. The agent makes 3.5% in this case versus 1% on any other competing offer. Literally 350% extra money for no additional work.

In this case, the seller and the agent can work out whatever agreement they want to split up that 3.5%, or let the listing agent keep the entire 3.5%. Either way, this is amazing for the buyer because the pie is the same size, but there is one less party to split it with.

2. The agent waives the buying fee

This is great for the buyer. This is 100% cash back. If you offer 1m, and another buyer also offers 1m, the seller stands to collect more from selling to us, since only 1% will be paid out as agent fees, instead of 3.5%


Thanks for coming to my TED talk.
Deal Addict
Apr 29, 2010
1187 posts
2321 upvotes
GTA
lolbeast wrote: There are roughly two scenarios when buying with the listing agent:

1. The agent collects full fee

This is great for the buyer, the agent has a huge conflict of interest to push this buyer's offer through. The agent would stand to make 2.5% plus the listing 1% fee or whatever. The agent makes 3.5% in this case versus 1% on any other competing offer. Literally 350% extra money for no additional work.

In this case, the seller and the agent can work out whatever agreement they want to split up that 3.5%, or let the listing agent keep the entire 3.5%. Either way, this is amazing for the buyer because the pie is the same size, but there is one less party to split it with.

2. The agent waives the buying fee

This is great for the buyer. This is 100% cash back. If you offer 1m, and another buyer also offers 1m, the seller stands to collect more from selling to us, since only 1% will be paid out as agent fees, instead of 3.5%


Thanks for coming to my TED talk.
And now we wait for the army of realtors to come in and tell me I’m wrong Face With Tears Of Joy
Member
Jun 1, 2019
245 posts
314 upvotes
deal_with_singh wrote: Don't entertain him, he's just a troll for anything to do with RE Agents.
Agreed! Cheers.
Full Service Realtor
Niagara / Hamilton-Burlington
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Feb 11, 2009
19265 posts
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For anyone actually reading this forum, I'll just point out that lolbeast is in some fantasy world - and none of what he said above should be taken as actual advice.

Not going to continue my replies to him, this is more of a PSA so that people don't actually get misinformed - he will likely reply to this with more "FUD" but not worth arguing with trolls.

Under his scenario 1 - he states the other agent collecting a full fee is a good thing because it works out good for the buyer.
- As the selling agent, your sole job is to represent the seller. If you end up in a multiple representation scenario, your interests must align with the seller and not your own. Any evidence of the agent acting in his own best interest (i.e. for a higher commission) or in the buyers interest (to push the deal through) is a major RECO violation. In our current market with multiple offers on anything you list - this is very easy to "get evidence of" when there will be several offers made. Going with the listing agent and having something lower than the best offer will not get you the property despite the fantasy situation posted above.

Under Scenario 2 - Agent waives buying fee
- Again theres 0 incentive for the agent to "waive the buying fee" if there are already multiple offers on the property. Think logically. If there are 2 offers of $1M, one form the LA and the other from another agent - if the sellers agent waived his co-op - then first off he would have to disclose this to all other parties - and second he would still get the same commission, but actually lose out on a buyer side commission.
To expand on this, think of yourself as a buyers agent. You have a buyer as your client already. Now if you get them to purchase the property you listed yourself and waive the buyer side fee...you only get the commission on the selling side.
If the other agent who matched that offer gets his deal accepted instead - well now the agent still makes the same amount of money off that sale, but he still has his client which he can show other prospective properties to and earn a greater commission.

Now lolbeast is going to come and say, no he'll reduce his commission not completely waive it....ok sure, he "might" reduce his commission in such a case, what will he bring it down by? half? Ok well most if not all agents on this forum offer 50% cash back anyways, and some of the more desperate ones even go as high as 80% from what I've seen.

So whats better? A cash back agent where you know you're getting half the commission? Or a hypothetical fantasy scenario where you assume you "might" get a small discount if the sellers agent "might" reduce his fee.


Like I said, ignore the fantasies posted above, hes just an obvious troll - only posting this so that others don't actually just take him for his word.
Deal Fanatic
Mar 27, 2004
6687 posts
4592 upvotes
Toronto
this clown is back? troll
Full-time Realtor
Deal Addict
Apr 29, 2010
1187 posts
2321 upvotes
GTA
deal_with_singh wrote: For anyone actually reading this forum, I'll just point out that lolbeast is in some fantasy world - and none of what he said above should be taken as actual advice.

Not going to continue my replies to him, this is more of a PSA so that people don't actually get misinformed - he will likely reply to this with more "FUD" but not worth arguing with trolls.

Under his scenario 1 - he states the other agent collecting a full fee is a good thing because it works out good for the buyer.
- As the selling agent, your sole job is to represent the seller. If you end up in a multiple representation scenario, your interests must align with the seller and not your own. Any evidence of the agent acting in his own best interest (i.e. for a higher commission) or in the buyers interest (to push the deal through) is a major RECO violation. In our current market with multiple offers on anything you list - this is very easy to "get evidence of" when there will be several offers made. Going with the listing agent and having something lower than the best offer will not get you the property despite the fantasy situation posted above.

Under Scenario 2 - Agent waives buying fee
- Again theres 0 incentive for the agent to "waive the buying fee" if there are already multiple offers on the property. Think logically. If there are 2 offers of $1M, one form the LA and the other from another agent - if the sellers agent waived his co-op - then first off he would have to disclose this to all other parties - and second he would still get the same commission, but actually lose out on a buyer side commission.
To expand on this, think of yourself as a buyers agent. You have a buyer as your client already. Now if you get them to purchase the property you listed yourself and waive the buyer side fee...you only get the commission on the selling side.
If the other agent who matched that offer gets his deal accepted instead - well now the agent still makes the same amount of money off that sale, but he still has his client which he can show other prospective properties to and earn a greater commission.

Now lolbeast is going to come and say, no he'll reduce his commission not completely waive it....ok sure, he "might" reduce his commission in such a case, what will he bring it down by? half? Ok well most if not all agents on this forum offer 50% cash back anyways, and some of the more desperate ones even go as high as 80% from what I've seen.

So whats better? A cash back agent where you know you're getting half the commission? Or a hypothetical fantasy scenario where you assume you "might" get a small discount if the sellers agent "might" reduce his fee.


Like I said, ignore the fantasies posted above, hes just an obvious troll - only posting this so that others don't actually just take him for his word.
So many things wrong with this post, just facepalm

The first assumption is laughable "- As the selling agent, your sole job is to represent the seller"

Does anyone here believe this? As a reale state agent, like any other commissioned salesperson, your sole job is to close the deal ASAP, scoop the commision, and move on to the next sale.

Stopped reading after this.
Deal Fanatic
Mar 27, 2004
6687 posts
4592 upvotes
Toronto
What's your deal anyway? this is a thread for buyers looking for cashback
your presences has zero value.

The listing agent does not waive the coop fee. Your understanding of the listing agreement is laughable.
Full-time Realtor
Member
Feb 15, 2018
441 posts
527 upvotes
Edmonton
Exactly! This thread is there to connect buyers to agents offering cashback and offering advice on how cashback arrangements work. Folks are more than free to start a new thread disputing the value of agents or if someone should even hire an agent.
Edmonton area Realtor
Newbie
Nov 17, 2006
15 posts
9 upvotes
When I ask an agent to submit an offer for me, is it mandatory to sign the BRA with that agent?
Member
Jun 1, 2019
245 posts
314 upvotes
15820 wrote: When I ask an agent to submit an offer for me, is it mandatory to sign the BRA with that agent?
Yes
For your protection as a buyer, here are 2 things you can demand that are part of that BRA:
i) Commission: written as "as per MLS" rather than a specified percentage or amount.
ii) Have the BRA only be applicable for the specific address that the offer is being written for. This way you are not locked in to using that agent beyond the property in question.

Also, if you are getting cash back from your agent, that should be specified in a separate document.
Full Service Realtor
Niagara / Hamilton-Burlington
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Mar 5, 2005
1096 posts
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Toronto
Looking for a cashback realtor to show us places in Markham and/or east end Toronto Leslieville -> Beaches area. 1.2-3m max budget.

We know what we are looking for so most likely we'll be finding the places to see. Just need you for formalities to show us and submit offer.

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