Hey all
What do you think of Real Estate Agents and their pay rates?
I have recently been aware of a property that sold for just over a million, and it supposedly sold in like 6 hours, right away.
Real Estate agents get (I think) 2% commission. On a million dollar home, that's $20,000. In 6 hours.
Someone explained to me that these commission rates were set many years ago when the house prices were much lower, and 2% commission may have been more reasonable. But since then house prices have ballooned to ridiculous levels, yet the commission stayed the same!
Do you think this is fair pay? I wonder sometimes with online listings available (MLS), what really is the need for an agent? Aside from perhaps handling some of the legal paperwork, do you feel the agent earned 20 grand for selling that house?
Are real estate agents loaded then, or what? I mean if you can close 4-5 sales in a month that's potentially $100,000 a month.
Am I missing something?
Real Estage Agent Pay
Its not easy at all.
You see the property as being on the market for 6 hours, the thing is there could have been 6 months of lead work involved.
That $20,000 before tax may have to last you months before your next settlement
Interest rates go up youre fucked.
Imagine being a RE agent during the 2008 GFC?
Oh and if youre in any capital city in Australia, you must be fluent in 63,000 asian languages.
You see the property as being on the market for 6 hours, the thing is there could have been 6 months of lead work involved.
That $20,000 before tax may have to last you months before your next settlement
Interest rates go up youre fucked.
Imagine being a RE agent during the 2008 GFC?
Oh and if youre in any capital city in Australia, you must be fluent in 63,000 asian languages.
How many sales you think a typical real estate agent makes in a month?
You're suggesting very low? maybe 1 or 2?
I would guess much more but I don't know. I see some around here that look like they really hustle, their names all over the place.
Many houses more than a mil.
You're suggesting very low? maybe 1 or 2?
I would guess much more but I don't know. I see some around here that look like they really hustle, their names all over the place.
Many houses more than a mil.
Would you feel OK forking over 20 G's off the value of your home for the work they do?
Lots of people do private sales.
Lots of people do private sales.
Define "value" of your home, my place is a 3 bedroom townhouse and its market value is close to $1m
If you think im bullshitting here is a similar sized townhouse in the next suburb of a similar vintage. This place is in a slightly better school catchment area but not by much in that our kids can go to the same schools but not automatically accepted we have to jump through some hoops like extra paperwork, mine has a much larger yard, access to (not private) swimming pool, tennis court and backs onto a nature reserve/creek.
https://www.realestate.com.au/property-townhouse-nsw-carlingford-128378274
They want over a million for that. Its actual worth is probably closer to $600K but because gooks think selective schools = success (stats prove otherwise) the price is artificially inflated.
Your other question regarding how often they sell? well it depends on the market, non boom non bust times Id say once every few months. Behind the scenes the agent/agency showing the property isnt necessarily the ones who found the buyer so in many cases they split the com.
If you think im bullshitting here is a similar sized townhouse in the next suburb of a similar vintage. This place is in a slightly better school catchment area but not by much in that our kids can go to the same schools but not automatically accepted we have to jump through some hoops like extra paperwork, mine has a much larger yard, access to (not private) swimming pool, tennis court and backs onto a nature reserve/creek.
https://www.realestate.com.au/property-townhouse-nsw-carlingford-128378274
They want over a million for that. Its actual worth is probably closer to $600K but because gooks think selective schools = success (stats prove otherwise) the price is artificially inflated.
Your other question regarding how often they sell? well it depends on the market, non boom non bust times Id say once every few months. Behind the scenes the agent/agency showing the property isnt necessarily the ones who found the buyer so in many cases they split the com.
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Our situations are probably vastly different because I'm over in NL and it's a buyer's market right now, unlike Ontario.
But real estate agents often put in a lot of work here. Lots of hustling, spending their weekends showing houses to people, etc. It's tougher than it seems!
But real estate agents often put in a lot of work here. Lots of hustling, spending their weekends showing houses to people, etc. It's tougher than it seems!
Mullet Tard wrote:Our situations are probably vastly different because I'm over in NL and it's a buyer's market right now, unlike Ontario.
But real estate agents often put in a lot of work here. Lots of hustling, spending their weekends showing houses to people, etc. It's tougher than it seems!
NL = Netherlands?
Are you dutch?
My mom is dutch, I swear it is the goofiest sounding language ever.
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Masato wrote:How many sales you think a typical real estate agent makes in a month?
You're suggesting very low? maybe 1 or 2?
I would guess much more but I don't know. I see some around here that look like they really hustle, their names all over the place.
Many houses more than a mil.
- I think the real state comission here is 6%. The thing is you cant count on that money, the market is really stale here. Other thing is you wont get expensive houses to sell unless you're already a estabilized name on the compsny you work.
Isnt only selling houses, is making sure the documents are ok, the buyers will pay you ehitout pulking some kind of shady thing. Is spend weeks or months trying to make someone even care about the house.
It's looks a seductive job on the paper. Buts is quite boring.
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Don't be selfish, preserve this world for the next generations.
I'll never long for what might have been
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Don't be selfish, preserve this world for the next generations.
I'll never long for what might have been
Regret won't waste my life again
I won't look back I'll fight to remain
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Masato wrote:Mullet Tard wrote:Our situations are probably vastly different because I'm over in NL and it's a buyer's market right now, unlike Ontario.
But real estate agents often put in a lot of work here. Lots of hustling, spending their weekends showing houses to people, etc. It's tougher than it seems!
NL = Netherlands?
Are you dutch?
My mom is dutch, I swear it is the goofiest sounding language ever.
Newfoundland bahaha
Mullet Tard wrote:Masato wrote:Mullet Tard wrote:Our situations are probably vastly different because I'm over in NL and it's a buyer's market right now, unlike Ontario.
But real estate agents often put in a lot of work here. Lots of hustling, spending their weekends showing houses to people, etc. It's tougher than it seems!
NL = Netherlands?
Are you dutch?
My mom is dutch, I swear it is the goofiest sounding language ever.
Newfoundland bahaha
Oh. I take it back, actually, Newfie is the goofiest sounding language ever.
just joking man. I hear great things about Newfoundland, I really need to get out there one day to see it. Its a shame actually I haven't been to the East of Canada, I have friends from PEI and Nova Scotia and they all say its a really different world. I am from the Island in BC and can attest to the difference in culture, to see the other side of the coin would be cool indeed.
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