Real Estate

Real Estate Commission Rebates for Buyers

  • Last Updated:
  • Nov 3rd, 2018 10:49 am
Member
Aug 16, 2011
225 posts
75 upvotes
Oakville, ON
aximrocks wrote: Is it really worth the trouble?

Costs & Fees to get Licensed in Ontario
Total Course Costs $2760
Total Required Costs to Start Your Business $5334 (one month/year)
Total Ongoing Annual Costs $6449

http://realestateagentlicences.com/licensing/ontario/
It would depend on your actual savings vs the cost of becoming licenses + what you value your time at to complete the process.

There are enough agents including in other threads on this board that will off sizeable chunks of cash back and lower listing percentages.
Registered Real Estate Sales Representative
Deal Addict
Mar 27, 2004
4623 posts
2269 upvotes
Toronto
If you are just buying a single property, it makes no sense to get a license just to save money..
Most agents on here offer 50% and some even more.
Full-time Realtor
Deal Expert
Jan 15, 2006
15310 posts
12765 upvotes
Richmond Hill
You know I often joke about being a 0.5% lister...
Deal Addict
Mar 27, 2004
4623 posts
2269 upvotes
Toronto
there is no t4a for a rebate. not sure what this person is saying. the rebate is issued by my brokerage. its not income.
Full-time Realtor
Deal Expert
User avatar
Aug 2, 2010
15193 posts
4898 upvotes
Here 'n There
aximrocks wrote: Is it really worth the trouble?

Costs & Fees to get Licensed in Ontario
Total Course Costs $2760
Total Required Costs to Start Your Business $5334 (one month/year)
Total Ongoing Annual Costs $6449

http://realestateagentlicences.com/licensing/ontario/
Your course cost figure is more or less correct, but you other numbers are WAY off. Don't just believe what you read on some obscure website on the interweb. Fees actually about $2K/yr if you want TREB/CREA membership and about $800/yr if you don't, which still allows you to transact real estate (list/sell/buy) real estate as an agent anywhere in Ontario. Cost to 'start your business' is a few hundred bucks for business cards. The annual ongoing costs from that website link you posted are pure fiction. I should know as I am licensed.

My first buy on a property for my own portfolo netted me the 2.5% buyers' agent fee. After deducting the cost to be licensed that netted me 20 times the annual fee (and I have TREB/CREA). On top of that I've listed and bought a few homes for friends and family (only people I will do deals for as I am not an agent for a career) and giving them a lower listing fee and buyers' cash back.

Easiest coin for the lowest investment in time and money I have ever made (other than sitting back after making some good stock picks).

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