Frequently Asked Questions

Company

What services do we offer?

There are three things that set Wahi apart and help Canadians like you buy and sell on your own terms.

Two ways to buy, three ways to sell

With Wahi, you have options. This gives you control around the level of service and support you need, but more importantly, the commissions you will pay. For more information visit our 

Non-commissioned experts

No matter which way you choose to buy or sell, you can trust the unbiased advice of our Licensed Wahi Experts to help you on your journey and demystify the home buying process.

 

Industry leading insights and tools

Wahi’s unique suite of tools gives home buyers and sellers the advantage that they need to get an edge on the real-estate market.

How much do our services cost?

Our tools are free for you to use and explore.

Where does Wahi operate?

Wahi currently operates within the Greater Toronto Area and will soon expand to other cities and markets. Our Showing Comparison Tool can be used anywhere in Canada.

How do I sell a home with Wahi?

There are three ways to sell your home with Wahi. All you need to do is pick a commission structure that balances what you want from the sale and the selling experience. They’re all supported by Licensed Wahi Experts every step of the way.

When you want more transparency, exact timing or a fast sale. The seller commission is only 1% so you keep an average of $15,000 on the sale.

When you want to keep more of the sale price of your home. The seller commission is only 1.5% so you keep an average of $10,000 on the sale.

When you want an Elite Realtor® in your corner to sell your home. Seller commission is 2.5%, and you access local experts in the sale.

How do I buy a home with Wahi?

Our innovative platform offers homebuyers two options to buy a home. No matter which option you choose, you’ll be supported by a Wahi Licensed Expert every step of the way.

Work with Wahi Licensed Experts to find a home and, in combination with Wahi Price receive up to 1.75% cashback. That’s an average of $20K back in your pocket.

We’ll match you with an Elite Partner Realtor for a more traditional experience. Your Realtor will have experience buying in your neighbourhood of choice, and will manage everything from scheduling showings to closing.

Account

Do I need an account to use Wahi services?

While you do not need an account to browse our listings, creating one will allow you to get the most out of your Wahi experience.  Creating an account is easy – all we need from you is your email address.

Financial and Mortgage Calculator

What is the Financial and Mortgage Calculator?

If you are looking to buy, the Financial and Mortgage Calculator will provide you with an estimate of what your total costs of purchasing a home might be. The insights provided by this tool will empower you with financial and budgeting knowledge as you embark on or continue your buying journey.

How can I use the Financial and Mortgage Calculator?

Input your values, such as the selling price, property type, and mortgage payment frequency. From there, let us do the work to calculate your total estimated mortgage payments, closing costs, and monthly expenses.

Buying and Selling

How do I sell a home with Wahi?

Wahi is working on offering innovative services for home sellers. Sign up for our email newsletter to stay in the loop on new Wahi initiatives coming soon.

How do I buy a home with Wahi?

Wahi has an innovative pltform and offers home buyers choice in the service they require to buy a home. It offers everything you need and nothing you don’t. DIY buyers can work with Wahi Licensed Experts to find a home, get the Wahi Price, and recieve up to 1.75% cashback.  While the Wahi Full Service offering will match you with an Elite Partner Realtor® for a more traditional experience. 

Where does Wahi’s school data come from?

Wahi has partnered with Local Logic , a location intelligence provider, to create a better neighbourhood search experience when it comes to school location and catchment area data. Local Logic incorporates more than 75 billion data points and 200 million properties across North America and updates the data every six months.

How are the school rankings determined?

Wahi uses rankings from The Fraser Institute, an independent research and educational organization based in Canada that ranks the academic performance of elementary and secondary schools in Ontario. The rankings are done annually and are based on average scores on province-wide standardized tests. The data also shows whether the school’s results are improving, declining, or holding steady over the most recent five years.  Wahi provides this information so that consumers can research the performance of individual schools in their neighbourhood or in the area in which they would like to live.

Should I base my opinion of a school purely on its ranking?

No, you shouldn’t! The ranking is only one piece of the puzzle and not the whole picture of what each school has to offer. The rankings are determined by The Fraser Institute, not Wahi. Our advice is to go see the school for yourself to make an informed decision!

Wahi Price

How does Wahi Price work?

When you purchase a home with Wahi MyBuy, we cut up to 70% of the buyer’s fee off every sale and pass those savings back to the buyer. For an average buy, this would be around 1.75% of the total price paid, and for an average GTA property, this would come to around $20K back in your pocket.

How do you get your money?

You’ll get payment 2 weeks after the closing of your property.

Realtors

I’m a realtor. How can I work with Wahi?

Auctioning – Pricing

Is it possible to set a price minimum?

Auctions will be set up with an opening price to start the bidding. However, a reserve price will be set by the seller, which is the minimum price the seller is willing to accept to sell the home or negotiate with the highest bidder.  The opening price is typically lower than the reserve price to encourage bidding on the home.

What is a reserve price?

A reserve price will be set by the seller, which is the minimum price the seller is willing to accept to sell the home. 

What if the bids are lower than expected, do I have to sell?

A home will not be obligated to sell unless a bid at or above the reserve price is placed. The seller will have the option to sell for less than the reserve price after bidding is closed. 

What are the bid increments?

Bid increments are $2500. 

Are there extra fees associated with auctioning?

There are no extra fees associated with an auction. 

What is the commission for auctioning?

The commission paid for auctioning is dependent on the representation. 

Who picks the starting price?

The seller ultimately picks the starting price, however, the Wahi Licensed Expert will support the process. 

What is a list price in an auction?

The list price is the price that will be used on the listing on Wahi and MLS.  

What is a Buy Now Price?

The Buy Now price is the price at which a user could purchase the home for and forego the auction process. This price is set by the Seller. 

How do I know the Reserve Price is met during an auction?

During the auction, all participants will be notified when/if the Reserve Price is met or exceeded. 

Is the Buy Now mandatory to use Auction?

No, the Buy Now price is not mandatory. 

Auctioning – Regulation / Legalities

How do people qualify to bid?

Auction participants must have finance approvals through Wahi’s mortgage partner. 

Is the person(s) with the winning bid obligated to purchase the home?

The person(s) with the winning bid is obligated to purchase the home in the same way a buyer is obligated to purchase a home after an offer is accepted the traditional way.  

Is the person(s) with the winning bid obligated to purchase the home?

The person(s) with the winning bid is obligated to purchase the home in the same way a buyer is obligated to purchase a home after an offer is accepted the traditional way.  

What if the person with the winning bid doesn’t get the financing or isn’t able to purchase the home and it falls through, what actions can the seller take?

All auction participants will have mortgage pre-approvals with a Wahi Mortgage Partner.

What happens if a deal falls through, what actions can the seller take?

The seller could take legal action against the potential buyer. Otherwise, the seller can choose to put the house up for auction again or sell the property the traditional way. 

Will the seller know who the bidder is?

Bidder’s names are displayed as the first name and the first initial of the last name. If the Seller knows of the buyer, they may be able to imply who the buyer is.

How is the listing regulated like the traditional method (through the real estate board, MLS, etc.)?

Listings on MLS are governed by the typical guidelines of brokerages, however, the auction process is independent of any brokerage including Wahi Ontario Inc Brokerage. It is managed by Wahi Inc. 

How are auctions monitored to ensure prices aren’t manipulated during the auction?

Auctions are hosted on a secure website and all bidders are authenticated and approved by Wahi. 

Is this something that takes place outside of the normal real estate industry?

Auctions are currently not performed by Real Estate brokerages. While the buyers and sellers can be represented by Reatlors®, the auction itself is independent of any brokerage including Wahi Ontario Inc Brokerage. It is managed by Wahi Inc. 

Auctioning – Flexibility Around Choices

What happens if no one bids on the home?

The auction ends without a home sale and has no obligation of any kind for the seller. The home can be listed or another auction can be arranged. 

What happens if the highest bid is unsatisfactory? Do I have to accept it?

If the highest bid does not meet or exceed the reserve price, the seller can choose not to sell.  

Is there a way to make sure my listing stays near the top of a listing page for visibility around the auction?

Wahi auctions are promoted within the Wahi price and the Auction page. Listings will be available within the listings on Wahi and rendered on the page based on the relevance of the consumer search.  

How will Wahi and my realtor make sure I have bidders on my auction?

Wahi and your realtor will promote and advertise your listing which includes traditional ads, digital ads, lawn signage and Realtor outreach. 

Auctioning – Clarification of Seller Process

Is there any negotiation involved in the auction process between the buyer and seller?

There are no conditions on the Auction sales as there is no negotiation of terms during the auction. Similar to traditional home sales, there are times when negotiations take place after the original offer is accepted. 

If one bids on my home, what happens?

There are a couple of options, the home can be delisted or listed the traditional way.  

Where does the auctioning take place? (in-person or online?)

The auction is conducted online through the Wahi Auction platform. 

Where can the home listing be found (other websites)?

All auction listings are published on all sites that use MLS listings.

Will the listing only be available on one site?

The listing for the home for auction will be listed with MLS and be available on all sites that leverage MLS to provide listings.  

How do we guarantee enough buyers to come to the table?

Wahi is not able to guarantee the number of buyers, as they are a function of the advertising and quality of the listing. 

How do you have your property sold via auction?

Set up a consultation with a Wahi Licensed Expert and they can help get the home and listing prepared for auction. 

Is a realtor involved?

Sellers and Buyers can be represented by a Realtor, but it is not mandatory. 

Is there an auctioneer involved? Who helps control and organize the process?

Traditional “Auctioneer” is not involved in the auction as they are facilitated online. A Wahi representative will be assigned to auctions and support the process throughout – including the duration of the auction. 

What is the normal timeline for an auction?

Selling an auction has 3 stages: Stage 1. Preparing the listing which can take 1-4 weeks. Stage 2. Pre-auction advertising is where the listing is posted and potential buyers are attracted, including showing which can take 1-3 weeks. Stage 3. The action period can take 1-2 days. 

Can I decide to limit showings to a specific period?

The Seller can determine how many showings are available and the timing of them. 

Can I decide to limit showings to a specific period?

The Seller can determine how many showings are available and the timing of them. 

Auctioning – Buyer Protection

How is the buyer protected in this bidding process?

A buyer can automate bidding (with a max bid) or make manual bids while the auction is open. 

If the buyer places the highest bid, can it be denied?

No, it can not be denied unless there is another buyer with the same bid in which case the winning bidder is automatically identified. 

Can the buyer put in stipulations to the bid? (financing, inspection, etc.)

A buyer is not able to put conditions on the sale. However, they are able to put limits on the bids and cannot exceed the amount they are approved for. 

Is there a maximum bid that can be placed to prevent emotional over-bidding?

The only limit for the bids is based on pre-approvals. 

Auctioning – Clarification of Buyer Process

What are the steps to get approved to bid and bid on Wahi?

  • Contact a Licensed Wahi Expert

  • Complete a Pre-approval application 

  • Approval

Can I receive alerts about an auction? Even without bidding?

You are able to participate in the auction without bidding, but must be pre-approved. 

Why do I have to register? Can I register without bidding?

Registration is required before bidding to make sure we account for everyone interested in the auction. Once registered, you will also receive an alert about specific auctions. 

Why can’t I bid on Wahi? (not approved, not enough remaining amount, bid period expired)

There can be multiple reasons, however, the most common are: 

 

  • You haven’t been approved. If this is the case, please contact us to fix it.

  • Your budget is insufficient and you cannot bid at the auction.

  • Your bidding period is expired. To fix this, please contact us.

Can I get my maximum amount and bidding period updated after getting approved?

Yes, you just have to contact us and we’ll help you with your request.

What’s an Autobid and how does it work? ($2,500 increments, processed every minute when there is a new highest bid)

We developed the Autobid to remove the burden of waiting and stressing in front of your computer when bidding during an auction. The Autobid process is quite easy; you set up your maximum amount for the auction and we take care of the rest. Our algorithm will assess all Autobids every minute, and when it is your time to bid, an increment of $2,500 will be added on top of the existing bid up to your maximum amount. You still have the option to manually bid on a property.

What is the Buy Now Price and how can I use it?

If you want to skip the bidding process, you can buy a property in one click, as long as you are approved for the asking price.

Why is the Buy Now temporarily available? When is the Buy Now disabled?

In order to be fair to bidders, the Buy Now is available up until the first bid.

What happens if I win?

When reserve price is met:
  • You are officially the owner of a new property. Someone from Wahi will contact you asap within our hours of operation.

 

When reserve price is not met:

 

  • The reserve price acts as a security so the seller can get a minimum price for the house. In this case, you won the auction, but negotiation with the seller is still likely to happen.

Can my agent bid on my behalf?

Yes, they can request to bid on your behalf and do everything for you.

When can I bid?

There is a specific bidding period. As long as you bid within the period, you should be good. However, people can still use Buy Now to purchase the property and remove it from the market.

Why do some auctions get 5 minute extensions?

Whenever a bidder is bidding within the last 5 minutes of an auction, we automatically add an additional 5 minutes to leave time for others to counterbid. 

Bestimator

How does the Bestimator calculate home estimates?

The Bestimator is a smart tool to estimate the value of a home. The estimation is computed using property tax info, physical characteristics of a property such as bedrooms, bathrooms, etc., location and historical sales of similar homes. Wahi updates the Bestimator regularly to keep it accurate all the time.

MySell

Is a Licensed Wahi Expert a licensed Realtor®?

All Licensed Wahi Experts are licensed Realtor®

When are the savings paid to the Seller?

The savings will be realized at the time of closing. The amount you get in savings is based on the commission and home sale price. For an average home sale price of $1,000,000, that means $10,000 back in your pocket. 

If I have an Elite Partner Realtor®, can I still contact a Wahi Licensed Expert through chat or email for advice?

Wahi Licensed Experts will be available to you throughout the process even when using an Elite Partner Realtor®. We will always be in your corner. 

Full-Serve

Can I use my own Realtor®, or do I have to use a Wahi realtor?

All Realtors® must be an approved Wahi Elite Partner Realtor® and matched by Wahi.

Can I change realtors midway through my sale process?

You are able to see homes with 3 different Wahi Elite Partner Realtors® before selecting a Realtor®.

If I have an Elite Partner Realtor®, can I still contact a Wahi Licensed Expert through chat or email for advice?

Wahi Licensed Experts will be available to you throughout the process even when using an Elite Partner Realtor®. We will always be in your corner. 

Market Pulse

What is the difference between a Median price and the average price?

A Median Price is the midpoint between the highest price and the lowest price, while the average is the price of all the homes divided by the number of homes. 

Contact Us

We’re happy to answer any questions you may have.