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

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.

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

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

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

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.'

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

True, they also charge a lot more per hour.

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

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!!

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

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

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

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

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

Would disagree with this Statement

However, that said

Totally agree with this one:p

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

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.

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

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


Exactly...

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

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.

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

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.

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

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.

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?

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