We all know credit companies offer cash back on using their credit cards, or provide rewards or travel money in different forms. That works the same way for a real estate agent.
Thirty years ago the typical 1980s house sold at a fraction of today’s eye-popping levels, real estate commissions were around $2,500. Today, with average home worth an estimated $500,000, the commissions might easily hit $25,000. Even after factoring in inflation, realtor’s fees have exploded in size.
A realtor closing a $1.6M transaction earns $40,000, and a $1.6M home is not uncommon nowadays. This amount is more than most cashiers and workers' whole year's salary in 2012.
As long as the pricing structure in Toronto real estate market does not change, we believe that rebating part of our commission back to the consumers really makes a lot of sense. This does not mean we discount our service level, in face you can expect if you are a buyer:
If you are a seller, you can expect:
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