Brokerage

Zoocasa moving to referral model

Listings portal intends to obtain brokerage licenses across Canada

Canadian property search portal Zoocasa is obtaining brokerage licenses in order to secure listings data, but instead of hiring its own agents the company will provide referrals to other brokers. Zoocasa relaunched today with listings in the Greater Toronto area and a directory of "prequalified, experienced real estate agents" from top franchise brands and brokerages including Century21, RE/MAX, Royal LePage, Harvey Kalles and Coldwell Banker. Buyers and sellers who close transactions using Zoocasa partner agents will receive rebates including cash and gift cards from retailers including Best Buy, Home Depot, Sears and Canadian Tire, totaling about $2,000 on a typical $550,000 transaction, the company said. Zoocasa will earn a referral fee of roughly one-third of the commission, the Toronto Globe and Mail reports. "Consumers have indicated that they want to be able to research online. Not just to find their next home, but also to find the right agent to help them," said Zoocas...