Real Estate

Earn back buyer's real estate agent commission - Become an Agent. New Humber College Course is now live!

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Apr 20, 2011
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JohnMarston wrote: Never heard of www.duproprio.com ?
I don't deal with agents and houses are sold quickly ;-)
The quality of their website is better than any real estate company imho.
I clicked it - the design is nice and the site is fast. lots of pictures too.. better than zillow
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Nov 1, 2014
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eonibm wrote: Oh yeah, that may work if you are the only offer but it will absolutely not work in a competitive bidding environment.

It may be 'licencing hassles' to you but $2,570 and 175 hrs of study (less time than most people will waste on facebook of surfing the web in a few months) and one single simple application to RECO to save tens of thousands of dollars in buyer's commissions is hardly 'licencing hassles' to me.

Don't do it then if you feel that way.

Also, I'll likely get a few extra deals here and there every year without even trying and make a few extra scheckels, but that's not my main focus.
175hr even at $25/hr = $4,375 already + $2570 = $6,945 already ... yes people surf fb and web..but those are things they want to be doing and usually doing it at work lol... you can't compare 175hr of studying for something you may use/need less than a handful of times in your life and use for family/friends once every couple of years to be worth doing can you? better off using the time to learn to be a car mechanic or plumbing or even painting

and by time youre done your courses and can buy/sell... RE prices would've gone up by more than the bit of commission you save from the ~14k (2% commission residual )- 7k (courses and licensing) = 7k

say it takes you 12 mths to do it..prices would've gone up by more than that theoretical 7k you saved...unless you are not able to buy now anyways ...then the math works a bit better in your favour but really..for RE transaction that you will only go through a handful or less times in a life... is it worth your effort and time?
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Apr 22, 2015
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Toronto, ON
LandKing wrote: 175hr even at $25/hr = $4,375 already + $2570 = $6,945 already ... yes people surf fb and web..but those are things they want to be doing and usually doing it at work lol... you can't compare 175hr of studying for something you may use/need less than a handful of times in your life and use for family/friends once every couple of years to be worth doing can you? better off using the time to learn to be a car mechanic or plumbing or even painting

and by time youre done your courses and can buy/sell... RE prices would've gone up by more than the bit of commission you save from the ~14k (2% commission residual )- 7k (courses and licensing) = 7k

say it takes you 12 mths to do it..prices would've gone up by more than that theoretical 7k you saved...unless you are not able to buy now anyways ...then the math works a bit better in your favour but really..for RE transaction that you will only go through a handful or less times in a life... is it worth your effort and time?
I think there's a gross under estimation of the length of time it takes to study and pass these exams, unless you are a genius with a photographic memory there's no way you're memorizing an entire textbook in 3 days just a few hours studying. I did my courses faster than the average person and I studied a month at least 4 hours / day or more, it's ALOT of material to remember, just look at the course stats, 90% of people fail and drop out at course 2(land structures) there's 2 textbooks of material to remember, not to mention the material is very dry, I can't see anyone sticking with it if not to make a career out of it....the tests are totally random and different for everyone.

I would hardly call them bird courses. Believe me the 4 months estimate is literally unheard of, the average person will take a minimum of 6 months to complete it and that is FAST if you're constantly studying...Multiple choice exams especially for these courses are pretty tricky, because several answers will seem correct. Then let's not even get into the fees...time is money, consider the fact that you will spend the better part of a year to just gain the qualification to sell your own house and get the commission, not worth it by a longshot,


I would bet my car that all of the people in this thread that said they are going to pursue it will quit by the 2nd course. Feel free to do it but don't let the OP downplay how easy it is, it's not that easy, otherwise everyone would do it.
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I have been getting a lot of PM's from RFDers personally thanking me for lifting the kimono and creating the guide on how to do the course. You are all welcome! I am posting these 2 questions and answers in the main thread here instead of answering individually as I think there are others are also wondering the answer.

Do any buying agents charge a flat fee? What might their rates be?

Flat rate buyer's commissions are permitted by the legislation, but I have never heard of any agent offering it (but if someone has then reply), but there are agents who give a % of the fee back as cashback and you can easily find them be searching online.

The reason for this is based on the mechanics of how a listing is created. It is up to the listing agent (after consultation and agreement from the client) to specify when the listing is posted what the buyer's agent commission is, which is typically 2-2.5%. Any less and agents will shun those listings (which they are not supposed to do, but what do you expect if the commission is lower?). Paying a decent commission to the buyer's agent is a huge component of the 'marketing' listing agent's 'perform' (lol). Actually probably most of it as it's only the buyer's agent (and the listing agent if they have a buyer) that brings in the buyer. Always remember, the listing agent is also a buyer's agent. So, if you don't provide a nice enough carrot for the buyer's agent you aren't going to see many offers. So, flat rate commissions on the buy just don't happen. By offering the 2-2.5% buyer's commission there then is the freedom for the buyer's agent to provide cashback to the client if they want to. That practice happens now but only in the miniority of transactions.

As much as I think the commissions are ridiculously high and should not be based on a % of the total sale price of a property I am much less concerned about the buyer's commission (but am doing the course so I can put it in my pocket instead!) than the listing commission. Also, given the 'standard' rate is 2-2.5% I do not see how this could ever be changed unless all property sellers agree to lower it at the same time, which is absolutely impossible, or it was legislated to be lower. So, that rate is here to stay.

Do any brokerages allow a buying agent to represent a buyer for $0/%0?

No. For the reasons I have explained but moreover because the lack of revenue would put them out of business!
[OP]
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JohnMarston wrote: Never heard of www.duproprio.com ?
I don't deal with agents and houses are sold quickly ;-)
The quality of their website is better than any real estate company imho.
For 700$, you become the agent : http://duproprio.com/sell/packages?prov=qc#b
Apparently in Ontario it's called comfree : http://comfree.com/ontario
Your post sounds like a shill, is irrelevant to the topic at hand and does not allow you to pocket the buyer's commission.
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Apr 11, 2011
275 posts
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Montreal
eonibm wrote: Your post sounds like a shill, is irrelevant to the topic at hand and does not allow you to pocket the buyer's commission.
Relax, it's just my 2 cents and you can just ignore it if you think it's irrelevant.
Also, there is no point to pocket the buyer's commission, there is no commission, you save that money anyway.
Finally, having no agent, you have better chances to find a deal since the average Joe does not necessarily know the "real value".
Anyway, become an agent if you want but I don't see the point.
It's like selling my car to a dealer for 10k when I can sell it myself for 14k on kijiji.
Or selling a video game for 5$ at ebgames and when you can get 30$ for it on kijiji.
duproprio is just kijiji for real estate.
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LandKing wrote: 175hr even at $25/hr = $4,375 already + $2570 = $6,945 already ... yes people surf fb and web..but those are things they want to be doing and usually doing it at work lol... you can't compare 175hr of studying for something you may use/need less than a handful of times in your life and use for family/friends once every couple of years to be worth doing can you? better off using the time to learn to be a car mechanic or plumbing or even painting

and by time youre done your courses and can buy/sell... RE prices would've gone up by more than the bit of commission you save from the ~14k (2% commission residual )- 7k (courses and licensing) = 7k

say it takes you 12 mths to do it..prices would've gone up by more than that theoretical 7k you saved...unless you are not able to buy now anyways ...then the math works a bit better in your favour but really..for RE transaction that you will only go through a handful or less times in a life... is it worth your effort and time?
Your post made me chuckle. Do you actually think people charge out the hours in their mind for doing something they want to do? ie such as ie reading a book, learning something, practising a skill, etc?

And yes, I can compare what I what to what I want. Free world. We all have different 'value' matrices. I enjoy learning. I read about a lot of things and learn a lot. I don't ascribe a $/hr to the activity. You may. That's your value matrix, not mine. Sometimes I lay on the couch and watch TV for hours. Sometimes I read an article how to lay tile. Sometimes I do a bit of work on my dividend portfolio and analyze some companies. Sometimes I spend mindless hours on the web goofing off. I don't ascribe $ rate/hour to any of it. You obviously do. Most people don't.

As for prices going up they may go up whether I take the course or not so that is irrelevant.

As for your comment about learning to be a car mechanic, I had even a bigger chuckle from that. What we do is based on desires and pay back (bang for your buck if you will). I have zero desire to learn how to be a car mechanic in order to fix my beat up old car which I drive once every 10 days, nor would the payback be worth it and lastly I not think I would be any good at it. Plumbing was a different story. After watching a couple youtube videos I have been able to do a lot of simple minor plumbing repairs that I used to pay a plumber $65/hr + travel time (and marked up parts) to do. Real estate? A WAY different story. 4 bird real estate courses that take 175 hours to study, most of which I can do in the comfort of my own home any time I want, and 3 easy exams to save tens of thousands of dollars every time I buy a house? Now THAT'S a pay back. Plus I love learning about real estate. For me it's not even work.

Your numbers are WAY off, btw. 2% buyer's commission (might even be 2.5%) x $1.15M (avg detached home price in Toronto where I live, and the ones I buy are even higher priced) = $23,000.

It's $2,570 to get Initial Salesperson Registration, not $7,000. That allows you to transact deals like any other agent, whether they have been licenced for 1 day, 1 year or 25 years. You should know that as an agent (all in my first post if you need to review it). There are brokerages that charge $99+HST to be registered with them and 10% as the cut of commission on only the first deal in the calendar year (some even take a lower cut from the agent or a flat rate). On the sell side, which doesn't concern me as much, there isjust a 'desk fee' of less than $50/mos only in the months one has a listing. So let's do the math accurately, why don't we?:

$23,000 buyer's commission

less:

$2,300 brokerage cut (10% of first deal in calendar year)
$112 annual registration fee ($99 + HST)

= $20,588, or lets just leave it at an even $20,000 because of some sundry other expenses.

That's $20,000 in my pocket, not yours. Sounds like a great payback on a $2,400 investment!


I know it is your interest as an agent to discourage people from becoming an agent as the fewer agents the better for you. However, you have been doing the encouraging. You told me way back on another thread something to the effect of 'if you think you are so smart, it's so easy to become an agent and we make too much money then why don't you become one?'

Your wish is being granted.
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JohnMarston wrote: Relax, it's just my 2 cents and you can just ignore it if you think it's irrelevant.
Also, there is no point to pocket the buyer's commission, there is no commission, you save that money anyway.
Finally, having no agent, you have better chances to find a deal since the average Joe does not necessarily know the "real value".
Anyway, become an agent if you want but I don't see the point.
It's like selling my car to a dealer for 10k when I can sell it myself for 14k on kijiji.
Or selling a video game for 5$ at ebgames and when you can get 30$ for it on kijiji.
duproprio is just kijiji for real estate.
Explain how there is no buyer's agent commission when I am bidding on a property listed on MLS (over 90% of all properties for sale are listed on MLS) in a multiple offer situation (which is 99% of the time now) and the listing specifies a 2-2.5% commission to the buyer's agent, which is what it is on almost 100% of all MLS listings?

That's why there is a point to becoming an agent. So you can pocket that commission. There is no other way to do that on an MLS listing (other than getting a fraction of the cash back on a buy from the agent if you find one of the few that do that).
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Jun 12, 2007
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eonibm wrote: Oh yeah, that may work if you are the only offer but it will absolutely not work in a competitive bidding environment. It may be 'licencing hassles' to you but $2,570 and 175 hrs of study (less time than most people will waste on facebook of surfing the web in a few months) and one single simple application to RECO to save tens of thousands of dollars in buyer's commissions is hardly 'licencing hassles' to me. Don't do it then if you feel that way. Also, I'll likely get a few extra deals here and there every year without even trying and make a few extra scheckels, but that's not my main focus.
Another advantage of reducing the price in the offer is that the savings will be either tax free or part of your capital gains. (also the cash back method)

Using your commission method, the $14K becomes taxable income.
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Jul 11, 2008
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Away from RFD idiots
As for JohnMarston, I don't belive he's a shill. Comfree is very popular in quebec. I'd rather prefer that kind of system than the one we have in Ontario where buyer's agent pockets % of the selling price.

If the commission was only $3k for buying a million dollar house, i wouldn't go through all this trouble and dismiss this thread.
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l69norm wrote: Another advantage of reducing the price in the offer is that the savings will be either tax free or part of your capital gains. (also the cash back method)

Using your commission method, the $14K becomes taxable income.
True. Just one major problem you overlooked. Reducing the price in the offer is not going to result in you saving anything because you won't end up being the winning offer! (especially not in this multiple bid market).
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mathiewannabe wrote: As for JohnMarston, I don't belive he's a shill. Comfree is very popular in quebec. I'd rather prefer that kind of system than the one we have in Ontario where buyer's agent pockets % of the selling price.

If the commission was only $3k for buying a million dollar house, i wouldn't go through all this trouble and dismiss this thread.
Maybe he is not, but I felt it was a shill because it has nothing to do with the topic at hand which is how to put the MLS buyer's commission in your own pocket rather than the agent's.

Companies like the one he mentioned and Comfree do not provide a means to avoid paying the buyer's commission on an MLS listing, which is the 90% majority of all listings in Canada. Not sure what you are talking about unless it's a world in which there is no MLS. I don't see that happen ever really. I am dealing with the real estate world as it is, not how it could be, hence why I am becoming an agent.
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eonibm wrote: Your post made me chuckle. Do you actually think people charge out the hours in their mind for doing something they want to do? ie such as ie reading a book, learning something, practising a skill, etc?

And yes, I can compare what I what to what I want. Free world. We all have different 'value' matrices. I enjoy learning. I read about a lot of things and learn a lot. I don't ascribe a $/hr to the activity. You may. That's your value matrix, not mine. Sometimes I lay on the couch and watch TV for hours. Sometimes I read an article how to lay tile. Sometimes I do a bit of work on my dividend portfolio and analyze some companies. Sometimes I spend mindless hours on the web goofing off. I don't ascribe $ rate/hour to any of it. You obviously do. Most people don't.

As for prices going up they may go up whether I take the course or not so that is irrelevant.

As for your comment about learning to be a car mechanic, I had even a bigger chuckle from that. What we do is based on desires and pay back (bang for your buck if you will). I have zero desire to learn how to be a car mechanic in order to fix my beat up old car which I drive once every 10 days, nor would the payback be worth it and lastly I not think I would be any good at it. Plumbing was a different story. After watching a couple youtube videos I have been able to do a lot of simple minor plumbing repairs that I used to pay a plumber $65/hr + travel time (and marked up parts) to do. Real estate? A WAY different story. 4 bird real estate courses that take 175 hours to study, most of which I can do in the comfort of my own home any time I want, and 3 easy exams to save tens of thousands of dollars every time I buy a house? Now THAT'S a pay back. Plus I love learning about real estate. For me it's not even work.

Your numbers are WAY off, btw. 2% buyer's commission (might even be 2.5%) x $1.15M (avg detached home price in Toronto where I live, and the ones I buy are even higher priced) = $23,000.

It's $2,570 to get Initial Salesperson Registration, not $7,000. That allows you to transact deals like any other agent, whether they have been licenced for 1 day, 1 year or 25 years. You should know that as an agent (all in my first post if you need to review it). There are brokerages that charge $99+HST to be registered with them and 10% as the cut of commission on only the first deal in the calendar year (some even take a lower cut from the agent or a flat rate). On the sell side, which doesn't concern me as much, there isjust a 'desk fee' of less than $50/mos only in the months one has a listing. So let's do the math accurately, why don't we?:

$23,000 buyer's commission

less:

$2,300 brokerage cut (10% of first deal in calendar year)
$112 annual registration fee ($99 + HST)

= $20,588, or lets just leave it at an even $20,000 because of some sundry other expenses.

That's $20,000 in my pocket, not yours. Sounds like a great payback on a $2,400 investment!


I know it is your interest as an agent to discourage people from becoming an agent as the fewer agents the better for you. However, you have been doing the encouraging. You told me way back on another thread something to the effect of 'if you think you are so smart, it's so easy to become an agent and we make too much money then why don't you become one?'

Your wish is being granted.
Unless you equate studying to be a RE agent as desirable as recreational activities.. Than of course people price it out.

You're whole premise as the title and subsequent posts in this thread say you want to be an agent to save on fees. Not be an agent because it is an interest and you equate studying and being one as recreational

And again my point is studying to be an agent would only save money if you were to buy in 1+ years time and not now or near future since any savings you get would more than be wiped out by the price increase in the time it takes you to study and become an agent

I'm not discouraging anybody...merely pointing out what immediately jumps out at me that needs to be considered.

Like all decisions especially one that entails more than a year worth of time and money commitment..its easy to get tunneled vision to just see savings of 20k and not account for other considerations.

And I'm not an agent...not even close..I dont even work with agents
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LandKing wrote: Unless you equate studying to be a RE agent as desirable as recreational activities.. Than of course people price it out

And I'm not an agent
Maybe not as desirable as playing tennis, dining with friends or watching a great movie, etc but working on my portfolio, learning how to save money fixing my sink, learning about the real estates are still pursuits which engage me, interest me, satisfy my desire to learn and have a great payback, among many other advantages.

Are we supposed to spend our time only on what is the most desirable activities in our lives? Hardly. Actually I have to say I am REALLY enjoying doing this real estate course. Parts of it are very interesting but I have to say some parts are like watching paint dry (like the math section which seems to be a repeat of what I learned in Grade 6). I can't wait to get my licence!

Update: It took me only 7 hours to do the entire first course through online e-learning. That is a 5 -day all day 35-hour course if you do it in the classroom. I passed every quiz and test (there's both for each section) and have been qualified by OREA to take the exam. Now I am just doing the optional Passit study question guide I mentioned in my first post to make sure I know everything. The only downside now is I have to wait a couple weeks to do my exam and be able to start the 2nd course, arghhhh.

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