Compare Yoreevo and Torii Homes
For Buyers
For Buyers
Answer: Yoreevo is a full-service real estate agent that offers savings to homebuyers and home sellers while Torii Homes is a buyer’s real estate agent and a referral fee network
Buying and Selling with Yoreevo
Yoreevo is a New York-based real estate broker that offers sellers listing savings and refunds buyer's part of their commission.
Yoreevo Pricing
Yoreevo offers consumers listing savings to sellers (1% listing rate) and buyer’s refunds (67% commission rebate)
Listing Services
- MLS Listing
- Zillow, Trulia, etc. Listing
- Accept and Deliver All Offers and Counteroffers
- Hold Open Houses
- Professional Photography
- Professional Floor Plans
- Yard Signage Installation
- Spare Key Lock-box Installation
- Schedule Inspection Services
- Schedule Private Showings
- Closing Duties
Buyer's Agent Services
- Find the Property
- Accept and Deliver All Offers and Counteroffers
- Recommend Other Professionals
- Attend Inspection Services
- Schedule Private Showings
- Negotiate Needed Repairs
- Closing Duties
Yoreevo Editor's Review:
Yoreevo is a consumer-focused real estate agent that successfully represents consumers in New York and offers sizeable savings.
Yoreevo is focused on efficiency, professionalism, attention-to-detail, and commitment to putting customers first.
By making every step of the process as efficient as possible, Yoreevo agents are more than 5x as productive as the typical agent. Included in the 1% listing fee are professional photos and marketing materials, comprehensive listing distribution, unlimited open houses and private showings and of course a dedicated, experienced agent throughout the entire transaction. For buyers, Yoreevo helps clients to navigate the entire process from discovery, negotiation, documentation to closing.
Overall, Yoreevo offers an excellent proposition to buyers and sellers alike.
Where does Yoreevo operate?
Buying with Torii Homes
Torii Homes is a buyer's agent and a referral fee network that offers homebuyer’s refunds in select service areas. Torii Homes typically credits the buyer's refund savings against the miscellaneous transaction costs such as loan origination fees, appraisal fees, title search, title insurance, surveys, deed-recording fees, and credit report charges.
Torii Homes does not credit the buyer's refund savings against property taxes, homeowner's insurance, transfer taxes, interest, mortgage points (optional fees paid directly to a lender in exchange for a reduced interest rate.) orii Homes does not credit the buyer's refund savings against any recurring costs.
After the miscellaneous transaction costs are paid for, Torii Homes keeps the rest of the Buyer’s Agent Commission as a fee for representing buyers in the home purchase.
Torii Homes Pricing
Torii Homes offers homebuyers approximately 20%-30% of the Buyer’s Agent Commission as savings.
Listing Services
- This Service Does Not Openly Advertise to Home Sellers
Buyer's Agent Services
- Find the Property
- Accept and Deliver All Offers and Counteroffers
- Recommend Other Professionals
- Attend Inspection Services
- Schedule Private Showings
- Negotiate Needed Repairs
- Closing Duties
Torii Homes Editor's Review:
Torii Homes is a tech-enabled real estate brokerage. Torii Homes claims that it costs nothing to use the service: “The seller of a home pays the real estate commission, which we then put toward your closing costs. You don't pay Torii anything for our help.” This is false and misleading advertising because buyer’s agents never work for free. A recent settlement between NAR and US-DOJ prohibits licensed real estate brokers from making a claim that their services are offered for free.
The cost of hiring a buyer’s agent is always incorporated into the homebuyer’s final mortgage sum. As a buyer’s agent, Torii Homes is paid with a percentage of the home sale, Buyer's Agent Commission (typically offered at 2.5%-3% by the seller) and it contributes 20%-30% of this total amount to the buyer as a way to financially compete for buyer’s business.
Torii Homes provides homebuyers with a licensed expert real estate agent who helps with the home search, scheduling/attending showings, preparing a home purchase offer, and price negotiations.
Torii Partner Agents
Torii Partner Agents Referral Network (Torii Partner Agents) is a referral process that connects buyers with third-party real estate agents in exchange for an undisclosed blanket referral fee. Torii Partner Agents are not employed by Torii Homes, however, Torii Homes maintains a set of pre-arranged price-fixing agreements with random Partner Agents, claiming to offer consumers savings.
The price-fixing agreements between Torii Homes and Torii Partner Agents are presented to homebuyers as blanket incentives of $1,000 in buyer commission rebates.
Torii Partner Agents are employed by, or work with their independent brokerages, are referred by Torii Homes at their own discretion, as a blind match. Torii Homes keeps the referral fee amount it receives from these brokers hidden. This practice is highly deceptive and is designed to deceive consumers to utilize Torii Homes as a price-fixing scheme to receive savings from competing brokers.
A blanket incentive of $1,000 is presented before consumers as savings, but the cost of the referral fee always works against homebuyers. The blanket referral fee between Torii Homes and Torii Partner Agents is hidden in the final cost of commissions. This practice results in an inefficiency known as reverse competition between brokers and price-fixing. Ultimately, price fixing and kickbacks result in a lower quality of service or higher commissions paid by the homebuyers.
By engaging with Torii Homes, homebuyers authorize them to share personal information and home search history with any Partner Agent, regardless if a consumer wants to work with a Torii Homes agent directly.
Torii Homes dictates that Partner Agent rebates $1,000 of their commission as means to allocate homebuyers to other brokers. In the United States, all independent brokerage fees are always negotiable and each real estate agent establishes its own policy for a fee structure, amount of commissions, and issuing rebates to consumers.
Price fixing is firmly prohibited by federal antitrust legislation. To fix, control, recommend, suggest or maintain commission rates, rebates, and fees for other agents' services is an improper practice.
In summary, Torii Homes offers a legitimate buyer's refund to consumers spent against miscellaneous closing costs. However, Torii Homes cannot legally organize competing brokers into a referral fee network because blanket referral agreements, price-fixing, consumer allocation, and market allocation between licensed real estate brokers in the United States are prohibited.