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Real Estate commission....is it negotiable?

Real Estate commission....is it negotiable?

Old Apr 6th 2008, 3:06 am
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Paradisefound View Post
I am not sure whether too low a commission rate serves one so well. In a market where there are many properties available maybe the ones with the lower rate will stay around longer.
In my job I would always buy from the supplier that gave me the best deal.
And surely one who talks to prospective clients in a respectful manner?? Would you buy a house from Outontheboat if they talked down to you like that?
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Old Apr 6th 2008, 3:39 am
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by AmyDavid View Post
And surely one who talks to prospective clients in a respectful manner?? Would you buy a house from Outontheboat if they talked down to you like that?
Don't you talk down to me! How dare you?!!! And it's Ontheboatout not Outontheboat - please have more respect....

We were talking about selling and commission. So are you saying I can't say what I think in case someone lists their house with me? Surely you would prefer me to tell you that your house smells of sweaty dogs or should I not, in case I upset you and you might not list with me? I'm not most real estate agents.

Disrespecting others good replies is what happened in this thread - all I did was rescue it.

Just thought I'd liven up the day. How many hits are we at now - could be a record. Think what interest I could create for a property...........oh yes, I remember now, that's 6% please BE.
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Old Apr 6th 2008, 3:43 am
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Ontheboatout View Post
Don't you talk down to me! How dare you?!!! And it's Ontheboatout not Outontheboat - please have more respect....

We were talking about selling and commission. So are you saying I can't say what I think in case someone lists their house with me? Surely you would prefer me to tell you that your house smells of sweaty dogs or should I not, in case I upset you and you might not list with me? I'm not most real estate agents.

Disrespecting others good replies is what happened in this thread - all I did was rescue it.

Just thought I'd liven up the day. How many hits are we at now - could be a record. Think what interest I could create for a property...........oh yes, I remember now, that's 6% please BE.
Of course you can say what you think, my opinion is that if I was a realtor on here and obviously looking for clients, I would be careful how I came across to those prospective clients.....
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Old Apr 6th 2008, 4:14 am
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Default Re: Real Estate commission....is it negotiable?

I was on BE long before I became involved in real estate, advising people on the Community Identified route of immigration to Nova Scotia, of which I have great knowledge, and which is still the fastest route to Residency.

That is why I am still on here, not serrupticiously trying to get clients so you wont find me nicey, nicey, now let me sell your house luv. There are plenty of agents who will lie to you and take you to houses you don't want to see if that is what you want. Deceitfulness happened to me and I'll be darned if I see it happen to anyone else.

I promote the North Shore because it is the "last best place" in Nova Scotia - (not my words) and I try to encourage people to share in what is so special. If they want to live here after their experience that is up to them, not me. This is no Fall River nor shall ever be.

Real estate agents are different from estate agents in very many ways and you pay more for that difference.
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Old Apr 6th 2008, 5:20 am
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Ontheboatout View Post
You need a more expensive lawyer. Real estate agents and brokerages are liable for the contracts they construct, not the lawyers. Commissions are split between the Buyer and Seller agents, so it might be 6% to you it is only 3% to them and less, up to half, when they split it further with the broker. There seems to be a misconception that some lucky lad has gone home with $27000 in his pocket.

Property Guys and FSBO's work in a Sellers market not in a Buyers.
There is no comparison between a real estate agent and lawyer. Although you might want to get a lawyers perspective on that! Real Estate agents do not have to interpret the law, prepare cases, examine case law, prepare and present cases. Filling in a few forms hardly compares. Accountability is hardly a reason to justify high commissions. If real estate goes up 20%, so does the commission, regardless of whether costs have increased or not. You seem to be trying very hard to justify the high commissions Realtors are demanding.

My lawyer is quite expensive enough, but thanks for the suggestion. I won't pass it on to him though.

Last edited by Surrey Expat; Apr 6th 2008 at 5:27 am.
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Old Apr 6th 2008, 8:08 am
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Ontheboatout View Post
You are wrong, I didn't say that.
You didn't say what?

You clearly suggested that realtors should be viewed in the same light as lawyers: "Look on them as lawyers instead of estate agents", and my opinion is that that's an inappropriate comparison.

I have another opinion now to: you're starting to reinforce to stereotype.
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Old Apr 6th 2008, 9:16 am
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by oldbag View Post
So, I went "on and on and on" did I? I'd already had "six helpful replies and chose to ignore them" did I? Firstly, I don't go "on and on and on"...I had posed a question which wasn't actually being addressed, and was trying to steer the thread in an appropriate direction. Secondly, yes my "name" on here is Oldbag, but the way you posted your reply was mean, nasty and meant to belittle me. I chose to ignore it because that what I felt was appropriate. I doubt if you would behave that way if we met face to face; it's only the anonymity of a forum that allows you to display your lack of courtesy. By the way, I haven't noticed the apology you mention....perhaps you could point me in the right direction. I did ask you to enlighten all of us as to exactly what you do to earn your 6% commission, but again, I have seen no evidence of that. I'm puzzled as to why real estate agents should be thought of as lawyers..........why, then should I also employ a lawyer when I sell my house if the real estate agent can do the work.....now that would be worth 5%!
I'm soooo glad I decided against Nova Scotia.


Lastly - to all of you who have provided useful information, in a helpful and friendly manner....thank you, I really appreciate it.
When a questions is posted on here it invariably generates a discussion and anecdotes which deviate slightly (and occasionally greatly) from the question. I will admit that when I posted the first reply (which was an opinion on the subject rather than a direct answer) and then I read your response I kind of reacted "Ooo, that was a little snappy". However, I am aware that at times I could easily do the same. The problem with a forum is that you can only see the written word, not all the other stressful things going on around a person. I therefore didn't see the need to respond to this.

Off the cuff remarks aside (and I really have taken no offence) I know that you are not inclined to post rude or abusive posts. Neither should you be the subject of any upsetting posts. I also accept that you are at liberty to ignore any of the advice that you receive from here, or anywhere else for that matter. When I ask a question, I read all the answers and then I take what is useful for me and use it. If the questions isn't fully answered I would ask for clarification.

It is a shame that what was presented as a perfectly reasonable questions has become a slanging match. I have the greatest respect for Canadian realtors, mine was brilliant when we were house-hunting. In your situation however, the commission does feel alot, whether it's 4 or 6%, it's just so much more than you would pay in the UK, there just doesn't seem to be much choice. Even if you go down the FSBO route, the purchasers realtor will be after their money, but at least you will only be standing out half of it.

I wish you luck selling you house. Personally, living in a small town where everyone knows who's house is on the market the FSBO route may well work. If you google FSBO+Ontario you should get a number of websites to look at.

I am sorry that you have been the subject of such disrespect. You really don't need that on top of everything else.
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Old Apr 6th 2008, 9:38 am
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Ontheboatout View Post
I was on BE long before I became involved in real estate, advising people on the Community Identified route of immigration to Nova Scotia, of which I have great knowledge, and which is still the fastest route to Residency.

That is why I am still on here, not serrupticiously trying to get clients so you wont find me nicey, nicey, now let me sell your house luv. There are plenty of agents who will lie to you and take you to houses you don't want to see if that is what you want. Deceitfulness happened to me and I'll be darned if I see it happen to anyone else.

I promote the North Shore because it is the "last best place" in Nova Scotia - (not my words) and I try to encourage people to share in what is so special. If they want to live here after their experience that is up to them, not me. This is no Fall River nor shall ever be.

Real estate agents are different from estate agents in very many ways and you pay more for that difference.
You clearly love the North Shore dearly and are often seen extolling it's virtues. No one can be critical of this. However, many people are leaving the UK, not just to live in a beautiful place, but to live in a different culture, one where people are more respectful of others, are friendly and helpful and live at a more relaxed pace. It's the whole package you should be selling, not just the pretty scenery and this comes across in the way you deal with others, not just how you describe your surroundings.

The North Shore is, I am sure, no Fall River. Neither is the Eastern Shore where I have chosen to live. That doesn't mean that those people who,live in Fall River don't love their surroundings and lifestyle just as much as you do. I have the greatest respect for that.

Our realtor did a fantastic job for us, and I would probably use her again in the unlikely event that we ever decide to move. She lives in Fall River. That doesn't mean that she is some sort of stereotype, and she didn't try to "sell" her community to us. She talked to us about what we wanted our life to be like and helped us the find areas that would suit us. She realized very early on that Fall River was not for us and moved on. The chances are that we would have paid much more for a house in Fall River, and she would have earned more. But then we would have not been so happy and would be less inclined to recommend her to others.

I agree that the job of a realtor is totally different to the UK estate agents (it really isn't quite a lawyer though). I also agree that some realtors want to sell you what they want to sell you and I am reassured that you don't plan to be one of these. You don't have to be "nicey, nicey" and let people walk all over you to get them as a client. It's just about respect and politeness. I wish you luck in your chosen career. For those who want to move to the North Shore, I am sure that you will try your best to do a good job. Just try to take a step back and have the courage to help people to look at other areas if their needs will be better met elsewhere. Also, you don't have to crawl to people, but there is really no need to provoke them either.
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Old Apr 6th 2008, 9:40 am
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by AmyDavid View Post
And surely one who talks to prospective clients in a respectful manner?? Would you buy a house from Outontheboat if they talked down to you like that?
Paradisefound probably would. It would be hard to use a different realtor when your spouse is a realtor wouldn't it?
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Old Apr 6th 2008, 12:39 pm
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Default Re: Real Estate commission....is it negotiable?

What slanging match? Maybe I've missed something.

Anyway, I can't come out to play today as I have to prepare for a presentation this afternoon at a house in Truro. I work around 12 hours a day, 7 days a week and love it.

When you are eating your Sunday dinner today bear in mind when you negotiate commission down you are taking food off peoples plates.

It is the concept that real estate agents do legal work I was trying to convey not that they are lawyers. So that conceptually the next time you have to swallow the bitter pill of commisssion it may not seem quite so bad.

DestNS you look to have bought a lovely house and got a very good deal - the commission when you come to sell is already covered. Just a thought.
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Old Apr 6th 2008, 12:56 pm
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Default Re: Real Estate commission....is it negotiable?

by that last comment do you mean that any profit made on her house in the future should buffer the costs of selling and that is then ok? I am all kinds of not impressed with realtor fees having sold recently in NZ where the same system works and it is only 4% there. It is a cruel amount of money for a seller to part with and if you are able to sell countless properties a year, because of the area and the amount of easily sellable properties, then it seems like a license to print money. I assume if you are working in a smaller, less boyant area that yes, negociating on a commission is taking money from a realtor. I digress...........it is a lot of money for a vendor to spend, a brand new top end car in many cases, and if you asked many people to give one of those away to get someone to buy your house.....who would? Well we all have to I guess.

I am a little embittered to the process.
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Old Apr 6th 2008, 12:57 pm
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by destinationnovascotia View Post
Paradisefound probably would. It would be hard to use a different realtor when your spouse is a realtor wouldn't it?
Paradisefound is married to Ontheboatout? I had no idea. Oooops
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Old Apr 6th 2008, 1:07 pm
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Default Re: Real Estate commission....is it negotiable?

Sorry, my original point regarding DNS's house and future profit margin was not made clear. My point was that as much as the market may rise to reward DNS and all of us more equity, so do the other houses in the area and the other houses we choose to move to. So that extra equity - should it be earnt by a realtor in fees (split 3 ways, I understand that, but it is taken once in a lump from a vendor) or for the future for that family who have improved the home and lived in it?

Realtors are home owners, does ther exist fee breaks for you guys, or do you not opt to move often? I dont often need to part with $25000 for anyone's services and it is way too much in my opinion, regardless of why and where it then goes. The potential is of course there for liability, but the actual reality is surely that sales go smoothly, the standard forms are filled out with the individual clauses being familiar and simply some extra crossings out and signatures on a form. And how often would you ever have to come up with money at closing??

I guess if people choose to be realtors, they have already decided this is an ok method of working and getting paid. No-one is going to say it is harsh and a lot of money. What is the average wage in NS? If you sold 15 houses a year, how much 3%'s is that? More than I earn and likely many here in NS. I can only assume obviously, and only you can know, but it is a monopoly situation from the vendor's point of view.

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Old Apr 6th 2008, 1:11 pm
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Default Re: Real Estate commission....is it negotiable?

Originally Posted by Poppy2 View Post
The potential is of course there for liability
I would have thought that Realtors are fully insured against something like this, so saying that they have to charge large commission fees because of this is somewhat hard to swallow.
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Old Apr 6th 2008, 1:13 pm
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Default Re: Real Estate commission....is it negotiable?

OK, so if you made $7,000 on a sale. Sold 15 houses over 12 months, and paid approximately 1/3 taxes, you will make $70,000 after tax.

I am a nurse, will be paid $30 an hour, working on a delivery suite where life and death can hang in the balance on any given day and I full time might expect to get $50,000 BEFORE tax.

In the wrong job for earning well, but in the right job for job satisfaction and contributing to the community well being.
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