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Canadian Realestate Magazine | 29 Jan 2015, 06:57 AM Agree 0
Oliver says there’s no housing bubble… Analysts confident of another rate cut in March… Realtors adapting to ‘disruptive’ technology…
  • lou | 29 Jan 2015, 07:18 AM Agree 0
    My doctor, lawyer, auto mechanic, secretary nor anyone else will reduce their compensation for a job well done.... so why should I?
  • JO | 29 Jan 2015, 08:26 AM Agree 0
    Real Estate should revert back to being a "full time" business like it used to be. I don't think these "realtors" would be so quick to give their paychecks away if they had to depend on real estate as their sole income. Wayyyyy to many part time people with a license !!!
  • RH | 29 Jan 2015, 08:59 AM Agree 0
    Personal interaction and reading a buyer or seller will never be replaced by a click of a button. Real Estate is an emotional business and one of the biggest financial decisions of their life. The effect will be for years to come on them and their family. The right neighbourhood, the right schools , sports activities and what really fits a family or individual are important factors when buying a property. You also need to know when you are selling a property what you need to do to get top dollar and where should it be priced to attract the most buyers. If you are buying a condo what is the reputation and how well are the developers known for delivering on their promises. What is the historic appreciation value that you can expect on a real estate investment? Full time realtors deal with these properties everyday and know the trend week by week. We all work hard for our money and we would not think of investing in the stock market without knowing something about the company. Interview three realtors get the information , see if it all matches and that pick the one that you feel you can work with the best and will give you the most service for your money. If you do this you will get a better price for your house and as a buyer you will get someone that will negotiate hard for you. Buyers it actually doesn't cost you anything to deal with a full time realtor and the benefits to you are numerous.
    • Robert Harrington | 30 Jan 2015, 12:36 PM Agree 0
      In real life no one interviews 3 realtors, especially in our fast growing immigrant market.
      They hire Uncle Hafeez the taxi driver or designated family real estate agent who only has a license to save on family real estate commissions and he has zero training and if not driving cab works at other construction job.
      However when will you guys all get it.
      It is not the real estate agent's fault. It is the corrupt real estate councils that are in the business of selling licences and real estate courses and not producing professional sales people, and they are not going to change.

      For example I cannot find one professional real estate agent Condo or Strata act agent that can read a financial statement, nor is this skill taught ot required as it may discourage people from signing up to buy licenses.

      Real Estate now is just a Ponzi Scheme business with a 90% new agent drop out rate that must be constantly replentished by lots of ...well basically lies by not disclosing facts and giving new licensees a very different picture of their job than reality.
      The councils must be replaced by a provincial govt office with proper licensing that benefits agents and customers and unless that happens my new virtual real estate agent which IS better and smarter than the average about to drop out agent will decimate the business
  • Sandra | 29 Jan 2015, 09:05 AM Agree 0
    I agree with Jo. And I think real estate boards should charge higher membership fees to agents that are doing little if any business. Part time and occasional agents tend to lack skill & professionalism and serve consumers poorly. Cranking out real estate licenses has become an industry of its own and belies the complexity of professional real estate.
    • Mike | 29 Jan 2015, 01:28 PM Agree 0
      this is the biggest issue in our city's market, the part timers are young, brash, unprofessional for the most part (not all, there are some standouts) and just make people hate realtors. I don't blame the public for how they feel about realtors but there are hard working ones out there and they work their butts off for their clients.
  • Jack | 29 Jan 2015, 09:59 AM Agree 0
    Borrowing money is something that seems to be great when interest is low, but what will happen when it goes up. If you use the increase of the value of your home for anything else than improving your home, you might as well go to the casino. When things are great anybody can do it, but if sh... hits the fan, it some else fault. Sorry i'm maybe to old, but raised...if you can't afford it, save it first!
  • listing for 1000-2000 | 29 Jan 2015, 10:02 AM Agree 0
    Knowing which building or developers are better is not guaranteed. Buildings/developers can be good one day and have problems the next. Prices, anyone with access can look up previous ones!!!

    What do u mean it doesn't cost buyers anything!!!??? Nonsense ,of course the seller factors that in when selling so the buyer is paying it!!!

    The industry is changing and more more agents are being realistic and dropping their fees to 1000-2000 ...which is more than generous. Too many agents . They should just have less agent and good agents work harder and the fees 1000-2000.
  • BIDDING WARS ON COMM | 29 Jan 2015, 10:31 AM Agree 0
    BIDDING WARS ON COMMISSIONS!!!!! Realtors invented it to make more money for themselves and inflate the market artificially,
    Jack is right.
    What happens when there is pullback in the market AGENTs GOT THEIR INFLATED FEES AND THE REST OF US lose...

    Agents will say didn't see that inflated system ever stopping..OOPS!!! THx buyers and sellers call me soon...
  • PR | 29 Jan 2015, 10:36 AM Agree 0
    Buyers get agents to research properties, do CMA's , drive them around , provide advise, guide them to the right home inspection companies , advise on market conditions financing options and the agents assume the liability with errors and omissions if there is any mistakes. All this before a buyer even puts a dime down for a deposit. Of course sellers have a bottom line and a good agent will give the best advice to their clients on where to price the property. There are alway intrinsic points that a real estate professional will bring to the table and all of this is to the benefit of the buyer to make a well informed decision. If someone is not providing all of these services then I can see why they would discount their commission because they are not putting in the time and effort it takes to do it right. A professional agent has to believe in their value if they are going to project that image with their clients.
  • FREE RIDE | 29 Jan 2015, 11:25 AM Agree 0
    All that service is worth MAX$2,000. Market conditions.... do u have a crystal ball? I agree the TAXI SERVICE IS NICE. Advice ?? is it Gauranteed ? I would think for 20,000-50,000 IT better well be GUARANTEED!!!!!!!!!!!!!! Status Certificate tells most CONDO BUYERS THE HEALTH AND THE LAWYER CLOSES /REVIEWS, referring me to a home inspector is worth 20,000-50,000?? ...we should start paying property management and lawyers 20,000-30,000 per deal

    UR SKILLS or what u can offer is the same for the last 30-40years . Prices went up and you got a free ride on the back of sellers/buyers.



  • | 29 Jan 2015, 12:34 PM Agree 0
    I totally agree that we have to many part timers and unfortunately they are not on the pulse of the market and that can make us full timers look bad and unprofessional .
  • Who Really Cares | 29 Jan 2015, 01:44 PM Agree 0


    Hey, so here's my thought's on this matter....

    As previously suggested there are way too many folks out there with a licence to trade in real-estate.

    Now the question is....how qualified are the huge majority of these people to do that with the utmost confidence that they are truly representing there client's in the best possible way???

    Well the simple answer is they're not!!!

    These people who are willing to work for next to nothing should really tell you something about them.........
    desperate people doing taking desperate measures to say & do almost anything for any amount of $$$$ just to get a paycheck.

    I've always been saying this for the past 28 years....there should be no room for people like that in our profession / industry & should be restricted to full time professionals only & not to any fly by night who can get licensed in a few months & still not know anything about the industry...even after there short term schooling they've received.

    Once again I'd say it safe to say the following "the blind leading the blind".

    People like that don't seem to understand the value of a true professional realtor & only look @ the $$$ savings in how much they're paying out or how much $$$ of the commissions agents are giving back from there paychecks.....wow, desperate times means desperate people who will practically do or say anything just to sell a home!!

    Well folk's that shouldn't be the case but unfortunately that's the way it's going to be so good luck to all the full time professionals who have dedicated there careers to making real estate ownership / dreams come true for many, many people & for all other nickel & dime fly by night licensee's a word of advise.....either get in full time & go with the program or simply get out because you're really not doing anybody justice or service here.

    Ps.....if I had to do it all over again in todays standards & conditions believe me I don't think it would happen & thank god for people who really understand, appreciate & respect the true value of a professional full-time realtor.

    Amen!!
  • MH | 29 Jan 2015, 02:06 PM Agree 0
    Look at everyone wine... the new realtors blah blah.. get off my lawn kids. Its called change people and its been happening forever in every industry. I've been in the game for 10 years now since I was 20 years old and offer full service with reduced commissions and am the number 1 agent in my mid sized market. Most agents now compete with me on commission and all that it means is that everyone has to do a lot more transactions so stay in the game. Our market probably has the lowest commissions in Canada at roughly 3K per end and the biggest change that I have noticed is that we went from 700 agents to 120 in 10 years and there are very few part time agent who can stay in business. Doesn't mean I have to work harder. Embracing changes in technology make it feel like my 100-200 ends fell like 20-50 10 years ago.
  • $1,000 total/transaction | 29 Jan 2015, 02:19 PM Agree 0
    $1,000- $2,000 total fees . Nobody is worth more!!!! Funny the egos say the lower comm agents work less and have less to offer etc ....more dinasour talk. the egos blew it with greed for new agents to get fair shake....ego lifestyle funded by inflated fees by the suckers who pay it.
    • Hard working agent for 23 years | 30 Jan 2015, 08:18 AM Agree 0
      Wow I don't know what you do for a living but I guess by the sound of it, you too would be ok with having your salary reduced by 2/3 while doing the same if not more work? Be very clear, technology still plays a limited role in buying homes to date. Last time I checked, buyers still need us to open doors from 9:00 to 9:00 and draft offers 24/7. Vendors still want all the same marketing and ad services they have always had with several additions of costly technology marketing and the same offer negotiation 24/7. Try putting your clients first and your personal life second 24/7 for 22 years and then you tell me what you think that is worth.
    • Get what you pay for | 31 Jan 2015, 12:37 AM Agree 0
      Actually these can be a real correlation between fees and service, I've had to bust my ass in a closing crisis where buyers couldn't move in and the sellers still had furniture on their lawn for days...the other realtor just disappeared and told me he might have helped "but they were only paying $1000" so had no interest in solving problems. Would you make the same effort at your job for 20% of the pay?

      Sometimes transactions can be easy, but a lot of the time things go crazy, and that's when you need a professional...and anyone that's good at their job won't do it on the cheap. It's like a lawyer or insurance, cheap seems like a good idea until things go wrong.

      Or the client who tried to save money on cheapo lasik surgery...and now has huge sight problems! Cheap out at your own risk. If you don't see the risk, that's even more dangerous.
  • OVERPAID | 30 Jan 2015, 09:35 AM Agree 0
    Nobody said u should cut ur salary!!! U ARE OVERPAID for what u provide!!! Nobody can justify charging 20,000-50,000 to taxi.tour and do some research on reslales that you shoot for sales/listing etc. Not rocket science,surgery...

    Commission wars!!! Bid down on the commissions like agents created for their own greed on home prices.

    I am not the only one voicing "OVERPAID" many consumers are too and more will come. Please tell me another industry that pays those kind of fees for what they provide??

    If u can sell ur clients to pay u those fees go for it!!! That would last in the past but consumers are not seeing any value anymore as they too have expenses .
  • Ken Bisson | 12 Feb 2015, 01:50 PM Agree 0
    In retail there's Walmart and Holt Renfrew. One gives better quality service and products than the other. Real Estate offers the public the same options. Lacklustre real estate products giving little if any service will continue to come and go. Realtors that offer quality service and experience will also remain.
  • Commission Wars | 16 Feb 2015, 09:28 PM Agree 0
    COMMISSIONS WARS!!! Push for commissions wars like agents created with sales on homes!!!
  • Tibes | 21 Mar 2016, 08:36 AM Agree 0
    Agents pay income tax on commissions, so who is paying the tax on rebates, Agents who do not receive the funds, do you think Revenue Canada is going to give buyers a freebie on rebates, make sure the rebate includes a T5 at year end. Nothing is for free.
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