New TD partnership reflects Realtor.ca’s push beyond property search

Realtor.ca is bringing home insurance information into the home-buying process through a new partnership with TD Insurance, the latest step in the platform’s strategy to expand beyond property search.

Announced last week, the collaboration will add home insurance education, planning resources and access to TD Insurance advisors to Realtor.ca.

Scott Neil, CEO of Realtor.ca, said many buyers leave insurance until the final stages of purchasing a home.

“We’ve learned … that a lot of people don’t consider insurance until kind of the very end,” Neil told Real Estate Magazine. “We wanted to bring that education and information more forward in the process so that the consumer can start thinking about it while they’re considering their home search.”

The announcement comes as TD Insurance research found only one in four Canadians reviews their home insurance policy annually.

Looking beyond the home search

Neil said the insurance partnership reflects a broader shift in how Realtor.ca sees its role, moving beyond helping consumers search for homes to providing information throughout the ownership experience.

He pointed to the platform’s existing partnership with RBC, which offers mortgage-related resources, as another example of that approach.

Under the new partnership, users will be able to access educational resources about home insurance coverage, risk prevention and long-term planning, as well as connect with TD Insurance advisors and request quotes.

Commercial agreement includes lead generation for TD

Neil confirmed the partnership includes a commercial arrangement between Realtor.ca – a wholly-owned subsidiary of the Canadian Real Estate Association (CREA) – and TD Insurance that revolves around generating leads for TD, but declined to disclose specific financial details.

“There is a variable component around lead generation, for sure,” he said when asked whether compensation is tied to consumer referrals.

Balancing partnerships with user trust

Neil said the organization evaluates new offerings based on whether they provide value to consumers navigating the home-buying process.

“We’re focused on our mission first,” he said. “The things that we’re adding to the site … are things that really add value to the consumer’s journey.”

Neil said he also sees potential benefits for Realtors, arguing that consumers who have a better understanding of financing and insurance before making an offer may be better prepared to complete a transaction.

“I think these things also produce a better consumer for a Realtor to work with because the consumer is more educated and more prepared to transact on a property,” he said.

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