Redfin, which launched its Canadian property search website and first Canadian office in Toronto in February, has formed a strategic referral alliance with Re/Max.
The alliance expands a long-standing relationship between Redfin and Re/Max in the U.S. In areas where Redfin does not have offices, Redfin refers customers to approved Partner Agents at other brokerages, including participating Re/Max agents. When the customer closes on a home purchase or sale, Redfin receives a referral fee.
Redfin says it will only partner with Re/Max in Canada.
As part of the agreement, Redfin says it is streamlining the onboarding process for Re/Max agents to join the Redfin Partner Program and reducing the referral fee for Re/Max Partner Agents in Canada from 30 per cent to 25 per cent of the commission. The exclusivity agreement is for two years to start, after which the companies will have the opportunity to extend.
Where both companies have agents, “the current spirit of competition will continue,” say the companies in a news release. “The agreement does not prevent either brokerage from serving clients anywhere.”
“By combining our expansive network of professional agents across the U.S. and Canada with Redfin’s massive online audience, consumers are connected with best-in-class agents, and our affiliates are given exclusive access to a rich source of referrals. Everybody wins,” says said Adam Contos, CEO of Re/Max, LLC.
