One of Canada’s top mortgage brokers, Dan Eisner, has successfully opened a new residential real estate brokerage and launched a program that will only further add to the list of reasons to work with a True North Mortgage (TNM) broker. The TN Rebate Realty program helps put more cash back into the pockets of Calgary homebuyers. How much cash? Well, that depends on the commission your TN Rebate Realty agent earns.
How it Works
If you’re getting ready to start the house hunting process, visit any of the True North Mortgage locations in Calgary and sit down with a mortgage broker to discuss what your maximum affordability is. Once you’re been pre-approved for a mortgage, your mortgage broker will then connect you with a TN Rebate Realty agent.
Because they are part of the same company, TN Rebate Realty agents deal exclusively with TNM mortgage clients, and will work with you until you find your dream home. Once your offer has been accepted, your mortgage has been provided by TNM and your closing day has arrived, your TN Rebate Realty agent will give you a cash rebate equivalent to 50% of their commission.
Sample Rebate Calculation
Here’s an example of how the program works:
The commission your agent earns is paid for by the seller and is collected by the TN Rebate Realty brokerage. Fees collected by the TN Rebate Realty brokerage are 3.5% of the first $100,000 plus 1.5% of the net purchase price.
In this example, your agent would have earned $10,700. However, because you used both a TNM broker and a TN Rebate Realty agent, you are eligible for a cash rebate worth 50% of your agent’s commission; in this example, that’s $5,350.
On top of the fact that this rebate program is only available to True North Mortgage clients purchasing homes in Calgary, there are some other conditions to consider:
- TN Rebate Realty agents do not provide property listing services at this time.
- Like working with any agent, it often takes several tours before a client finds the home they want to make an offer on – and each tour likely involves visiting several homes. If you, the client, require more than 5 separate tours with your TN Rebate Realty agent, the rebate will be reduced to 25% of their commission.
- The rebate will be direct deposited into your bank account within 5 business days of the closing date on your home.
For more information on how the TN Rebate Realty program works, visit their website or email TN Rebate Realty agent Matt Forbell.