Should a celebrity endorsement make you trust a contractor?
No. Eight homeowners are suing AGM Renovations and its CEO, Ivan Atanasov, for more than $1.3 million, alleging fraud, negligence and breach of contract. AGM was a high-profile Ontario renovation company that ran more than a dozen ads on radio, TV and social media, and for years those ads carried a celebrity endorsement. It announced it was closing on February 14, 2025, leaving projects unfinished. One customer hired AGM in August 2024 to turn his basement into a legal apartment. By the end of September his $150,000 loan was maxed out. When AGM closed, the job was 30 to 40 percent complete.
The biggest lie in renovation is that a big advertising presence means a company can build. An endorsement tells you who agreed to put their name beside a company. It doesn't tell you who checked the work.
When AGM closed, we weren't surprised. AGM advertised itself as operating across Canada and the United States. In our experience, a renovation company can't scale that fast, that far, without something breaking. The useful question is what made it so likely to.
The commission problem
AGM's own job postings advertised 100% commission sales roles with uncapped earnings, pitched at "independent sales contractors" who would quote basements, kitchens and bathrooms and meet clients virtually.
In our view, that structure is the problem. When every signature is a paycheque, the incentive is to close, not to deliver. And in a model like that, the person who quotes your job usually isn't the person who has to build it. The gap between the sales pitch and the site is built in.
Here's how it typically plays out. A salesperson quotes you on best-case assumptions. Anything below grade or behind the walls gets glossed over, because naming those unknowns makes the number less attractive. You sign, they get paid, and the site crew discovers your 1920s plumbing needs replacing. Suddenly an $80,000 kitchen needs another $25,000. But you're already committed.
Why the endorsement worked on smart people
CBC spoke with AGM customers who said the celebrity endorsement influenced their decision to hire the company. One couple said AGM used the endorsement in its sales pitch, and reassured them that everything would be done right because it was an endorsed company.
That's what an endorsement is designed to do. It lowers your guard. When you see a famous name attached to a contractor, you stop asking for references. You skip the vetting. You assume someone else already did the due diligence.
An endorsement is not an inspection. It doesn't tell you who pulled the permits or checked the licences. That job is yours, and it stays yours no matter whose face is in the ad.
How we do it, and what it costs you
At BVM Contracting, we set expectations in the first two conversations, before you sign anything.
We bring up everything a commission-driven pitch skips: site constraints, constructability problems, existing conditions that will add budget. We plan for the worst case and carry a contingency, usually 10% of the construction budget, for what we find below grade and behind walls.
The downside is real. Our first number is higher than a commission pitch's, because it includes the things the pitch leaves out. And you'll hear about problems before you've decided you like us. If the lowest number on paper is what you're shopping for, we are the wrong builder, and we say so on the first call.
This approach doesn't scale across a continent. It can't. We own the entire process from pre-construction to final walkthrough, and our family oversees every project we complete. When something goes wrong, you're not calling a regional office. You're calling the people who quoted your job.
Local accountability means we live with our reputation. We can't abandon customers and move to a different market. We've been living and building in Toronto's East End since 1997. Our past clients are your neighbours.
And the problem is bigger than one company. A 2023 survey by Bidmii, a marketplace that holds renovation payments in trust until the job is done, found 32 percent of Ontario homeowners said they had been the victim of a renovation scam. Even allowing for who ran the survey, that number should give anyone pause.
Three questions to ask any renovation company
Who quoted my job, and will that person be on site? A good answer names a person. A bad answer is "our project team".
How is your salesperson paid? If the answer is commission on the signed contract, treat the quote as a starting point, not a number.
Show me the permit and the licensed trades on your last three projects like mine. Not references. Paperwork. A company that builds properly has it in a folder.
Even if a company were backed by the Prime Minister, Oprah and the Kardashians combined, ask the three questions.
Marketing creates appearances. Operations create outcomes. One AGM customer has since paid at least another $150,000 to other contractors to finish his basement.
If you're planning an addition or a major renovation in Toronto's east end, book a 30-minute project consultation. We'll tell you the real number, and what we'd need to find out before we could stand behind it.
Update (September 2026): CBC Marketplace reported in October 2025 that Halton Regional Police were investigating two complaints against AGM, and that lender Financeit is also suing AGM and Atanasov, alleging fraud and deceptive trade practices. Some earlier claims against AGM have ended in default judgments, but customers have no guarantee of recovering their money.
Sources: CBC Marketplace, Oct 17, 2025; CBC News investigation, Feb 5, 2025; CBC Marketplace cheat sheet, Feb 2, 2025; Newswire, Bidmii survey, Oct 2023; AGM job postings on WayUp (one, two).
About BVM CONTracting
BVM Contracting is a full-service General Contractor or Home Builder located in Toronto. We provide home renovation and building services for major home renovations and custom home builds (full interior renovations, home additions, lot severances, new home construction, garden suites, and laneway suites). Our goal is to help guide our clients through the process of building their home, from concept to completion.
Further than providing General Contracting and Project Management for major home renovations, we also offer value-added services such as renovation financing, renovation rebate consultations and services, building permit and design services, smart home installation services, and real estate investor services.
To learn more about our offering by visiting our services page. Learn more about our vision, mission, and values here.