YourHomeTeam

YourHomeTeam

June 17, 2015 06:00 ET

Real Estate Group, YourHomeTeam, Vows to Honour Zoocasa Rebates for Home Sellers & Buyers

YourHomeTeam to honour 15% commission rebates to home buyers and sellers after Zoocasa closes its doors this month

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 17, 2015) - YourHomeTeam (part of Sutton Westcoast Realty), a boutique real estate group and one of Zoocasa's preferred real estate partners, has announced that it will honour 15% commission rebates to Zoocasa customers by offering them replacement rebates after Zoocasa closes its doors this month.

A shockwave went through the Canadian real estate industry last week when Zoocasa suddenly announced that it's going out of business, ending its popular real estate referral and rebate program for buyers and sellers. See Zoocasa's shutdown notice at www.zoocasa.com.

Zoocasa was launched by Rogers Communications as a real estate referral service that matched home sellers and buyers with the top-ranked real estate agents. For example, in the Vancouver area Zoocasa selected only twenty (20) agents out of thousands of realtors. YourHomeTeam was one of those selected since they are ranked in the top 10% of all Greater Vancouver real estate agents.

YourHomeTeam is vowing to honour the 15% commission rebates to Zoocasa customers by offering them its own replacement rebates after Zoocasa shuts down. To qualify for YourHomeTeam's replacement rebates, buyers and sellers will provide an email or screenshot showing they were either a Zoocasa customer or had been visiting the Zoocasa website before June 22, 2015 (its last day of operation), and they will complete their real estate transaction through YourHomeTeam between June 22 and October 31, 2015. YourHomeTeam will pay 15% of the commissions it earns on those transactions back to the qualified buyers and sellers.

The Zoocasa model was set up as a win/win/win for buyers, sellers, and top-ranked realtors. Buyers and sellers benefited by being matched with top realtors and receiving a rebate. Zoocasa connected customers with highly-experienced real estate agents who specialized in their desired areas, and also provided them with a 15% rebate on commissions earned on their transactions with those realtors. Sellers would get back 15% of the listing agent's commission, and buyers would get back 15% of the buyer agent's commission.

Realtors benefited by getting introduced to net-new customers who they would otherwise never meet, thereby allowing them to expand beyond their existing networks. Although the realtors had to share a portion of their commissions, the volume of leads made up for it. YourHomeTeam Leader, Tennyson Haughton, said, "Zoocasa's referrals augmented our already well-established network by introducing us to additional demographics, such as international buyers and young people, who were entering the Vancouver market and needed extra guidance from local real estate experts."

Zoocasa's marketing style appealed to many online global investors and younger tech-savvy buyers and sellers who were attracted to its hip online advertising splashed across mobile devices and its promise to match them with seasoned real estate professionals. A young couple that was referred by Zoocasa to YourHomeTeam said "Home buying is not as easy as it may seem. YourHomeTeam was such a huge resource and help throughout the whole process for us. The best part was their insight and experience in the field."

The reasons why Zoocasa failed is being hotly debated. They had strong customer service and a large amount of real estate customers, but apparently not enough to sustain operations.

About YourHomeTeam - A Vancouver-based boutique real estate group, and part of Sutton Westcoast Realty, YourHomeTeam is comprised of experienced professionals providing high-value real estate services to sellers, buyers and investors through its strategic advice and proprietary tools. For 13 consecutive years the team has been a recipient of the coveted Medallion Award, which recognizes the top 10% of realtors in Greater Vancouver. For more information, visit http://www.yourhometeam.com.

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