Frequently Asked Questions

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  1. What does it cost to be in this Cashback program?
  2. What if I already have an agent I want to use for either listing my home or buying a home....can I still qualify for the program?
  3. What if I don't want to work with the realtor to whom you have referred me?
  4. Besides selling and/or buying a home, there will be other items that I need advisement on. Things like moving companies, lawyers, building inspectors, house insurance, first-time home buyers options, mortgage financing, etc. will all be needed in this process. How do you help with this?
  5. Many real estate transactions occur after business hours and weekends. Is my counsellor available during those times?
  6. When/how do I receive my cash back?
  7. What if I am having problems selling my home due to poor market conditions?
  8. Is there any contractual obligation to be in this program?
  9. How do I know the realtors you set me up with will be the best ones?
  10. What if I want to negotiate the real estate commission fee with the realtor who is listing my home?
  11. Can you tell me how else I am saving money by using ReaLocation.ca?

1. What does it cost to be in this Cashback program?

There is no cost to you to participate in this program. You will be paying the regular fees associated with both buying and selling your property (ie. legal fees/disbursements, real estate commission, building inspections, etc.) but there are no fees that we charge you. In fact, the point of the program is that we will pay you to participate.

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2. What if I already have an agent I want to use for either listing my home or buying a home....can I still qualify for the program?

The short answer is YES you can. As long as the realtor of your choice agrees to work within our program requirements, which means agreeing to pay a referral fee, then you would be eligible to receive a Cashback.

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3. What if I don't want to work with the realtor to whom you have referred me?

Our goal is to provide you with the best agent possible to work on your behalf. We certainly realize that situations may occur where you no longer wish to work with that person. In that instance, we can speak with that agent about terminating the working relationship and find you another agent in the area who will provide the optimal services you require.

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4. Besides selling and/or buying a home, there will be other items that I need advisement on. Things like moving companies, lawyers, building inspectors, house insurance, first-time home buyers options, mortgage financing, etc. will all be needed in this process. How do you help with this?

Our counsellors are trained to give you advisement on all these other things that can and will arise. We have an extensive network of service organizations across Canada to assist you with your needs. You are under no obligation to utilize these services, however they are available just in case, and the counsellor can give you a good overview of what you can expect in regard to using such services.

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5. Many real estate transactions occur after business hours and weekends. Is my counsellor available during those times?

Normally your counsellor will be available during non-business hours, and if need be, the counsellor would refer you to another counsellor if the situation is required. Counsellors typically give their after hours contact information to you. While 24/7 availability cannot be guaranteed, the counsellor would get back to you within a reasonable time period.

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6. When/how do I receive my cash back?

Once the transaction is completed (on the closing date of your sale or purchase), it normally takes less than 2 weeks for us to process your cheque and send to you.

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7. What if I am having problems selling my home due to poor market conditions?

Part of the counsellor's job is to ensure the realtor is marketing the home effectively and the list price is realistic with the given market conditions. The counsellor can contact the realtor and ask for market updates to see if the home's list price and marketing strategy is in line with the market itself. Subsequently, the counsellor (and the agent) would get back to you with recommendations.

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8. Is there any contractual obligation to be in this program?

No....the only contract you would have to sign would be the listing agreement with your Broker when you wish to sell your home. When buying a home, we advise that you don't sign a Buyer's Agreement with the agent, and we inform the agent of this prior to you working with that person. You will be asked to sign such a Buyer's Agreement at some point (normally when you're ready to make an offer to purchase a home), but the counsellor will advise you on the length of such a contract. There is no contractual obligation with the ReaLocation program itself....you are able to opt out of the program if you wish.

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9. How do I know the realtors you set me up with will be the best ones?

Fees are always negotiable, but must be tempered with ensuring the home remains marketable. For example, if normal commission fees in the area are 5% and you wish to only pay 3%, this would be between you and the realtor. Keep in mind three things....one is that to attract purchasers in a particular market, the commission must be at a rate that will have incentive to bring buyer's agents in to see your home. While you may be seeing your getting a great rate, your home may be sitting on the market for an inordinate length of time because the realtors for those potential buyers may believe the potential commission is too low. The second reason is if the rate is not what is deemed an acceptable market rate, the realtor listing your home may not be able market the property in an optimal way because they wouldn't have the financial compensation to do so. A third factor is that your Cashback amount may be less if the realtor's portion of the commission is lowered. Having said this, you can certainly discuss things with your counsellor prior to listing the home to look at the feasibility in wanting a reduced rate.

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10. What if I want to negotiate the real estate commission fee with the realtor who is listing my home?

We have extensive experience with realtors across Canada in light of ranking them based previous purchase and sales transactions and feedback from clients and our program staff. When purchasing, we conduct a "needs assessment" with you to match up with a realtor who will best serve your needs in light of the area and your specific housing needs. We also conduct a similar exercise when you wish to sell your home. Please bear in mind that our goal is your total satisfaction. We understand that if you aren't satisfied with either the agent's services or our services, this puts us in a negative light. We are confident in finding you the best agent to provide the best possible service. "Word of mouth" and goodwill are very strong incentives for maintaining good business relations and we don't wish to jeopardize this by referring you to realtors that cannot do the job.

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11. Can you tell me how else I am saving money by using ReaLocation.ca?

(a) Cash Rebate (b) Real Estate Selection (c) Moving assistance

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