Reform Real Estate Commission Practices to Benefit Families
Real estate brokers are just like the rest of us. Overwhelming majority work hard, spend long hours so they can earn money to provide for themselves and their families.
In fact, in Australia, real estate brokerage fees are lower than in many other countries. In the United States, for example, it is 6-7 percent. In most European countries, it is 5 percent. Of course, there are places where the fee is far less. Take Hong Kong, for example, where the fee is a meager 1 percent.
But here is the catch. The real estate industry should not run based on the needs of the brokerage industry. It should run to satisfy the needs of the rest of the country. In a country such as Australia where the median house price is $571,000, 2.5 percent is still more than $14,000. If a broker sells one house every three months, s/he would still make the equivalent of the median salary in the country.
Whether low real estate commission in Australia can become a reality or not depends on whether there would be enough people willing to work as low commission real estate agents. Some have argued that low commission property sales could even hurt the real estate market.At least one company is working to prove them wrong.
Revolutionary Real Estate works with individual house owners to design marketing and sales packages that are tailor-made to each individual case.The company is putting particular focus on Brisbane.
If you are a seller, better than benefiting from low realestate commission in Brisbane,would be to ask yourself, “Can I sell my property without a real estate agent?” The answer is a resounding “Yes”.
Much like any other business, the real estate brokerage industry should work for the benefit of the customers first. Getting rid of fixed-rate property sales commissions might be a good start!