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-   -   realtors......would a British estate agent system do well here (https://britishexpats.com/forum/canada-56/realtors-would-british-estate-agent-system-do-well-here-624572/)

Rob_999 Aug 13th 2009 7:22 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Butch Cassidy (Post 7840587)
OK, the majority of people seem to have a problem with how much realtors charge.

How many of you complaining about the fee structure actually work for less than the market rate within your occupation?

Cost is not the source of the problem, it's a by product. The issue is that as a buyer or seller you have no choice but to incur cost of a buying agent. If everyone stoped using buying agents it wouldn't be a problem - but thats not how the system works.... You have no choice.

I like Sam's business model - at least you get a little bit back.

Almost Canadian Aug 13th 2009 7:24 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Butch Cassidy (Post 7840658)
You mean like Accountants? Lawyers? Dentists? Doctors (GPs I'm refering to here)?

But entry to sit the exams required by their Regulatory Bodies requires a little more than a Grade 12 education

Butch Cassidy Aug 13th 2009 7:24 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Alan2005 (Post 7840654)
Well - how would you calculate the market price. You could say it was the average or you could say that everyone is working for the market price (as they agreed to do the work for the amount on the open market)

OK lets narrow this down. My OH is an executive for a PCN (a specific market) the GPs that work for this particular PCN earn MINIMUM $190k p.a. would you expect a GP to say 'so I'm feeling Altruistic, just pay me $100k p.a.'

Butch Cassidy Aug 13th 2009 7:26 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Almost Canadian (Post 7840673)
But entry to sit the exams required by their Regulatory Bodies requires a little more than a Grade 12 education

True, they also charge a lot more per hour.

Almost Canadian Aug 13th 2009 7:28 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Butch Cassidy (Post 7840676)
OK lets narrow this down. My OH is an executive for a PCN (a specific market) the GPs that work for this particular PCN earn MINIMUM $190k p.a. would you expect a GP to say 'so I'm feeling Altruistic, just pay me $100k p.a.'

See my above post - many realtors earn that, without having to spend 8 years plus at Uni and then further "time served" requirements.

I was involved in a claim where the Realtor earned $1,000,000 and took at least 14 weeks vacation each year.

I have no real issue with their earnings. If they work hard they deserve all they earn. I just don't like the way the vast majority of them do business. Especially when new arrivals (their clients) to the country are concerned. I would guess that most that post on here have never acted for a vendor. They rely on being nice to newbies and picking them up from the airport , nice work if you can get it!!

Alan2005 Aug 13th 2009 7:28 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Butch Cassidy (Post 7840676)
OK lets narrow this down. My OH is an executive for a PCN (a specific market) the GPs that work for this particular PCN earn MINIMUM $190k p.a. would you expect a GP to say 'so I'm feeling Altruistic, just pay me $100k p.a.'

No. I would expect their employers to pay them the minimum required to retain an appropriate number of skilled GP's.

Almost Canadian Aug 13th 2009 7:37 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Butch Cassidy (Post 7840684)
True, they also charge a lot more per hour.


That's what we want, Realtors charging by the hour 25$ a hour ought to be appropriate for a grade 12 education. For most purchasers I would imagine that that would result in said realtor getting paid about $75 (on the basis that most Ex-pats will have viewed houses on line and will just require a trip to verify):rofl::p

Butch Cassidy Aug 13th 2009 7:45 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Almost Canadian (Post 7840694)

I would guess that most that post on here have never acted for a vendor. They rely on being nice to newbies and picking them up from the airport , nice work if you can get it!!

Would disagree with this Statement

However, that said

Totally agree with this one:p

ann m Aug 13th 2009 7:45 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Alan2005 (Post 7840650)
I think it's more the disparity between what they change vs what they appear to do.

I think this what the thread boils down to - an outsiders viewpoint that they do not actually see what they are paying for, even though there is relatively little choice in paying for it anyway.

iaink Aug 13th 2009 7:50 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Butch Cassidy (Post 7840648)
I didnt say average, I said MARKET.

Doesnt the market dictate the average rate one way or another...thats the basis for most modern economic theories anyway:confused:



Originally Posted by Alan2005 (Post 7840695)
I would expect their employers to pay them the minimum required to retain an appropriate number of skilled GP's.

Exactly...

Alan2005 Aug 13th 2009 8:03 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by iaink (Post 7840763)
Doesnt the market dictate the average rate one way or another...thats the basis for most modern economic theories anyway:confused:



Exactly...

So you'd get rid of the min wage then?

Market price is not necessarily a fair price. The market is imperfect especially in closed shop professions and cartels (this is now getting way beyond realtors)

Edit to add: A free market for a service requires that you be able to meaningfully refuse that service.

iaink Aug 13th 2009 8:14 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by Alan2005 (Post 7840800)
So you'd get rid of the min wage then?

Market price is not necessarily a fair price. The market is imperfect especially in closed shop professions and cartels (this is now getting way beyond realtors)

Edit to add: A free market for a service requires that you be able to meaningfully refuse that service.

Im a bleedin heart liberal...what do you think;) minimum wage, Unions, Cartels, Professional Bodies, all protect individuals from the full withering force of the market.

As far as professional jobs go though, minimum wage isnt really a factor...like you said, the cynic in my thinks organisations pay the minimum they think they can get away with, balanced against the costs of hiring and training new people.

Alan2005 Aug 13th 2009 8:24 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by iaink (Post 7840837)
Im a bleedin heart liberal...what do you think;)

As far as professional jobs go though, minimum wage isnt really a factor...like you said, the cynic in my thinks organisations pay the minimum they think they can get away with, balanced against the costs of hiring and training new people.

For sure. That's how non regulated professions are supposed to work. The problem with the regulated ones is that you are forced to use them by government legislation. Legislation will usually push the market price for a service up (i.e. the point at which people will simply do it themselves is higher than if there was no legislation) and so you can't really talk about being in a totally free market if you are operating in those conditions. I should add that this is an economic rather than moral point I'm making.

JonboyE Aug 13th 2009 9:07 pm

Re: realtors......would a British estate agent system do well here
 
In Britian, everyone used to complain that estate agents did nothing for their 1.5% or 2%, and their fees were a rip off.

In Canada all the Brits are complaining that Realtors do nothing for their 3% or 4%, and their fees are a rip off.

I don't know if anyone sees a pattern here?

Alan2005 Aug 13th 2009 9:31 pm

Re: realtors......would a British estate agent system do well here
 

Originally Posted by JonboyE (Post 7841017)
In Britian, everyone used to complain that estate agents did nothing for their 1.5% or 2%, and their fees were a rip off.

In Canada all the Brits are complaining that Realtors do nothing for their 3% or 4%, and their fees are a rip off.

I don't know if anyone sees a pattern here?

I don't think that's entirely fair. Most people I know (including many Canadians) have a negative view of realtors for whatever reason


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