Offer available for ANY RESIDENTIAL PROPERTIES for sale on Realtor.ca/MLS®
The typical real estate commission offered to buyer’s agents is 3.5% on the first $100,000 of the purchase price and 1.5% on the remaining balance. We estimate that approximately 80–90% of properties listed on Realtor.ca/MLS® offer this 3.5%/1.5% commission structure.
Example: If you purchase a home for $500,000, your agent’s commission would be $9,500.
Since 25% of $9,500 is $2,375, your Cash Incentive in this example would be $2,375.
NOTE: Commission rates vary from property to property. This affects the commission we earn and, as a result, the Cash Incentive amount you receive.
We share a portion of our earned commission with our buyer clients who sign an “Exclusive Buyer Representation Agreement” with us and successfully complete the purchase of a residential property, excluding mobile homes.
You will receive a cheque from us within 30 days of completion (possession day) of your purchase.
Please note that the CASH INCENTIVE becomes available only after the possession date, and therefore may not be considered part of your equity from the lender’s perspective. You should not rely on the CASH INCENTIVE for financing purposes related to this purchase.
Do I have to pay Commission?
" Yes and No "
Commission you are required to pay would normally be covered by commission we earn from seller
Our fee is 3.5% on the first $100,000 of your purchase price and 1.5% on the remaining balance, which is the same fee structure used by many real estate brokerages.
In most cases, buyers do not pay our fee out of pocket because it is typically offset by the commission offered by the seller’s brokerage to the buyer’s agent. Approximately 80–90% of properties listed on Realtor.ca/MLS® offer buyer’s agents a 3.5%/1.5% commission, which fully covers your obligation to pay our fee.
This commission is also the source of your Cash Incentive.
However, if a seller’s brokerage offers less than the standard 3.5%/1.5% commission, the buyer is responsible for paying the difference (the shortfall).
A reduced seller-offered commission will also reduce the amount of commission we receive, and therefore reduce the Cash Incentive you receive.
For these reasons, in many cases buyers pay nothing out of pocket—and may still receive a Cash Incentive—but buyers remain responsible for any commission shortfall below 3.5%/1.5%.
Also subject to regular terms and conditions
Requirements
" Rules "