Mehrdad Khayeri highlights how modern tools like House Sigma empower buyers, stating, "With so many online tools nowadays, like House Sigma and MLS, the [agents] are actually doing maybe less work." His experience with a cashback agreement exemplifies how informed buyers can negotiate significant returns on their purchases.
Khayeri's cashback agreement allowed him to receive nearly $35,000 back from his home purchase. He noted, "I mean, 2.5 per cent on a few-hundred-thousand-dollar house is very different than 2.5 per cent on a million-dollar house," underlining the disparity in commissions as housing prices escalate.
Alex Kvitnitsky, a real estate agent, confirms the trend, stating, "That's money that you can use to offset your land transfer tax cost, you can offset legal costs, you can allocate it towards renovation," showing how cashback agreements can alleviate the financial burden on buyers.
Kvitnitsky also mentioned that offering cashback incentives not only benefits the clients but also his business, saying, "The incentive helps bring in more business," which reveals a growing shift in real estate practices in high-price markets.
#homebuyer-savings #real-estate-commissions #cashback-agreements #toronto-housing-market #real-estate-trends
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