Frequently Asked Questions
What is commission cash back rebate*?
Real estate agents earn income by representing their clients in real estate transactions, either as buyer agents or listing agents. After the property successfully closed and sales commission received by buyer agents, they will give some of their commission back to clients for hiring them as their buyer agents, we call this as the commission cash back rebate.
Your commission cashback rebate* amount is big and listing fee* is low. Does that mean your services are less and you are lack of motivation?
Not at all! I am a full time, full service real estate sales representative who offers the same level of service as any of the large national brokerages. cc
Will you show me properties personally?
Yes. I will personally book and show you all the properties you are interested. With the exception that I will not pick you up and drive you to the homes you want to view. You need to arrange you own transportation and meet me in the property at the scheduled time unless we have multiple showings at one trip, in this case we will travel together in my vehicle after meeting at a convenient location.
Where does the rebate money come from, and will I be charged for your services as my buyer agent?
In order to sell their home for top dollar in the quickest time possible, the home seller pays sales commission to compensate both the listing brokerage (listing agent) and the cooperating brokerage (buyer agent). Therefore in the most cases, home buyers are usually not paying their buyer agent, but it is possible compensation will be requested if the seller is offering limited or no compensation to the cooperating brokerage and their buyer agents.
What is the commission split between you and your brokerage?
My brokerage takes 10% of the sales commission, then the rest 90% is my commission split.
How is the commission cashback rebate* calculated?
The commission cashback rebate* you will receive is based on three factors.
Commission Cashback Rebate = Purchase Price X 90% of Sales Commission (%) X Commission Rebate Percentage (%)
Are commission cashback rebates* legal?
Commission rebates are absolutely legal. Real Estate Council of Ontario (RECO) states it very clear in The Real Estate and Business Brokers Act (REBBA 2002) that it allows real estate agents to rebate sales commission to anyone that is a party to a trade in real estate. As the buyer of the property, you are a party to the real estate transaction and qualify for the commission rebate.
Are there any conditions or limitations on your commission rebate* offer?
Yes, there are some. Following is the complete list of conditions, limitations and requirements to qualify for our commission cash back rebate program.
When will I receive my commission rebate check?
The brokerage of RebateGTA.com will mail you the rebate check within 30 days of closing.
How do I maximum my commission cashback rebate amount?
There are some factors you should consider before putting properties on your “must see” list and booking a home showing. I will guide you on how to choose the right homes for you, then you will not waste you visiting counts and maximum your commission rebate.
Do I have to sign a Buyer Representation Agreement with you?
Yes. The brokerage of RebateGTA.com can’t issue a cashback rebate check without the agreement signed. And also without the Exclusive Buyer Representation Agreement in place we couldn’t start the home search process.
Can walk in open houses, or asking a listing agent to show me a home affect my commission cashback rebate?
It definitely can if you don’t tell other real estate agents that you signed and are currently working with me as your exclusive buyer agent.
I am currently working with another agent who does not offer commission rebate. Can I stop working with him and start working with you so I can get commission cashback rebate* from you?
If you're currently under contract with a real estate brokerage then you need to respect your agreement. If you're not under contract, you have the right to work with any agent of your choice. However if the real estate agent you're presently working with has already physically showed you the property you want to buy, even though you didn’t sign any contract with him, you should continue working with him for this specific property. For properties other than this specific one, you have the right to work with any other agents of your choice.
If more than one person is buying a property together, will we all receive a commission rebate?
No. Only one commission rebate is offered for each closed real estate transaction, and the rebate will be paid to the name(s) registered on the Agreement of Purchase and Sale.
Will I get a commission rebate if I buy a new home or a new condo?
As long as the builder is offering a minimum 2.00% or better sales commission to the cooperating brokerage (Buyer Agent) then you will receive a commission rebate*. Also in order to qualify for the rebate, I will need to accompany you and step into their sales center together on your first visit, and register me as your agent.
Can I use the cashback rebate* as part of my down payment or deposit?
No. The cashback rebate is only paid after closing, so it can't be used as a down payment or deposit. However, once you receive the rebate, you can use the funds for whatever purpose you choose, even for mortgage prepayments.
If I both buy a home and sell a home with you, will I still be eligible for both the commission cashback rebate and the low listing fee?
Absolutely! You will enjoy both the huge commission rebate and the low listing fee*.
Do I have to offer the cooperating brokerage (buyer agent) 2.5% sales commission?
It’s totally up to you for how much sales commission you want to offer to the cooperating brokerage. However, the ongoing rate is 2.5% in the GTA market. If your offering rate is lower than this, it will definitely discourage many agents showing your property to potential buyers.
If I list my property with you, will you show it to your commission cashback buyer clients?
Absolutely! It is myfirst priority to expose your property to as many potential buyers as possible, and I will inform my commission cashback client as soon as your property is listed.
What is the most important factor to consider when selling a home?
Price is the most important factor to consider, which determines whether your property will be on buyer’s "viewing list". Therefore, it is important to keep in mind that your property’s value is determined by the buyer. The right price will attract buyers and make you the most money within the shortest time.
What is commission cash back rebate*?
Real estate agents earn income by representing their clients in real estate transactions, either as buyer agents or listing agents. After the property successfully closed and sales commission received by buyer agents, they will give some of their commission back to clients for hiring them as their buyer agents, we call this as the commission cash back rebate.
Your commission cashback rebate* amount is big and listing fee* is low. Does that mean your services are less and you are lack of motivation?
Not at all! I am a full time, full service real estate sales representative who offers the same level of service as any of the large national brokerages. cc
Will you show me properties personally?
Yes. I will personally book and show you all the properties you are interested. With the exception that I will not pick you up and drive you to the homes you want to view. You need to arrange you own transportation and meet me in the property at the scheduled time unless we have multiple showings at one trip, in this case we will travel together in my vehicle after meeting at a convenient location.
Where does the rebate money come from, and will I be charged for your services as my buyer agent?
In order to sell their home for top dollar in the quickest time possible, the home seller pays sales commission to compensate both the listing brokerage (listing agent) and the cooperating brokerage (buyer agent). Therefore in the most cases, home buyers are usually not paying their buyer agent, but it is possible compensation will be requested if the seller is offering limited or no compensation to the cooperating brokerage and their buyer agents.
What is the commission split between you and your brokerage?
My brokerage takes 10% of the sales commission, then the rest 90% is my commission split.
How is the commission cashback rebate* calculated?
The commission cashback rebate* you will receive is based on three factors.
- The home purchase price less any HST if applicable.
- 90% of sales commission percentage (or dollar value equivalent) offered by the seller to the cooperating brokerage for bringing the buyer to the deal.
- The number of properties we visited and viewed together (Home showings) before you purchased a home.
Commission Cashback Rebate = Purchase Price X 90% of Sales Commission (%) X Commission Rebate Percentage (%)
Are commission cashback rebates* legal?
Commission rebates are absolutely legal. Real Estate Council of Ontario (RECO) states it very clear in The Real Estate and Business Brokers Act (REBBA 2002) that it allows real estate agents to rebate sales commission to anyone that is a party to a trade in real estate. As the buyer of the property, you are a party to the real estate transaction and qualify for the commission rebate.
Are there any conditions or limitations on your commission rebate* offer?
Yes, there are some. Following is the complete list of conditions, limitations and requirements to qualify for our commission cash back rebate program.
- Buyer must enter an Exclusive Buyer Representation Agreement and purchase a home offering a minimum 2.00% sales commission (or dollar value equivalent) to the brokerage of RebateGTA.com.
- Buyer must sign a declaration confirming they were not introduced to the property of interest by another Brokerage (or real estate agent) prior to making an offer.
- If any valid claims are received from another brokerage in regard to who initially introduced the buyer to the property. The buyer agrees to refund the rebate within 3 business days.
- The rebate amount is determined by a sliding scale from 20% to 50% based on the number of showings prior to purchasing a home.
- The rebate is calculated on property purchase price NET of HST (if applicable) times (x) 90% of sales commission percentage (%) (or dollar value equivalent) offered by seller or builder times (x) commission rebate percentage (%).
- The rebate is only paid to the name(s) registered on the Agreement of Purchase and Sale.
- Rebates are not offered on pre-construction VIP condo sales or properties personally listed for sale by RebateGTA.com.
- Rebates are not valid with any other offers or promotions.
- The commission rebate is guaranteed personally by RebateGTA.com and paid directly by the Brokerage of RebateGTA.com.
When will I receive my commission rebate check?
The brokerage of RebateGTA.com will mail you the rebate check within 30 days of closing.
How do I maximum my commission cashback rebate amount?
There are some factors you should consider before putting properties on your “must see” list and booking a home showing. I will guide you on how to choose the right homes for you, then you will not waste you visiting counts and maximum your commission rebate.
Do I have to sign a Buyer Representation Agreement with you?
Yes. The brokerage of RebateGTA.com can’t issue a cashback rebate check without the agreement signed. And also without the Exclusive Buyer Representation Agreement in place we couldn’t start the home search process.
Can walk in open houses, or asking a listing agent to show me a home affect my commission cashback rebate?
It definitely can if you don’t tell other real estate agents that you signed and are currently working with me as your exclusive buyer agent.
I am currently working with another agent who does not offer commission rebate. Can I stop working with him and start working with you so I can get commission cashback rebate* from you?
If you're currently under contract with a real estate brokerage then you need to respect your agreement. If you're not under contract, you have the right to work with any agent of your choice. However if the real estate agent you're presently working with has already physically showed you the property you want to buy, even though you didn’t sign any contract with him, you should continue working with him for this specific property. For properties other than this specific one, you have the right to work with any other agents of your choice.
If more than one person is buying a property together, will we all receive a commission rebate?
No. Only one commission rebate is offered for each closed real estate transaction, and the rebate will be paid to the name(s) registered on the Agreement of Purchase and Sale.
Will I get a commission rebate if I buy a new home or a new condo?
As long as the builder is offering a minimum 2.00% or better sales commission to the cooperating brokerage (Buyer Agent) then you will receive a commission rebate*. Also in order to qualify for the rebate, I will need to accompany you and step into their sales center together on your first visit, and register me as your agent.
Can I use the cashback rebate* as part of my down payment or deposit?
No. The cashback rebate is only paid after closing, so it can't be used as a down payment or deposit. However, once you receive the rebate, you can use the funds for whatever purpose you choose, even for mortgage prepayments.
If I both buy a home and sell a home with you, will I still be eligible for both the commission cashback rebate and the low listing fee?
Absolutely! You will enjoy both the huge commission rebate and the low listing fee*.
Do I have to offer the cooperating brokerage (buyer agent) 2.5% sales commission?
It’s totally up to you for how much sales commission you want to offer to the cooperating brokerage. However, the ongoing rate is 2.5% in the GTA market. If your offering rate is lower than this, it will definitely discourage many agents showing your property to potential buyers.
If I list my property with you, will you show it to your commission cashback buyer clients?
Absolutely! It is myfirst priority to expose your property to as many potential buyers as possible, and I will inform my commission cashback client as soon as your property is listed.
What is the most important factor to consider when selling a home?
Price is the most important factor to consider, which determines whether your property will be on buyer’s "viewing list". Therefore, it is important to keep in mind that your property’s value is determined by the buyer. The right price will attract buyers and make you the most money within the shortest time.
