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Agents sacrificing commission on the QT

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Real Estate Professional | 02 Sep 2015, 08:15 AM Agree 0
Psst! Your friend and colleagues may be using feeDuck at this very moment, but mum’s the word, say owners of the controversial bidding site
  • | 02 Sep 2015, 12:16 PM Agree 0
    Rock Star Realty says it all ! Maybe you should go back to making noise on stage not in the Real Estate community.
  • | 02 Sep 2015, 03:33 PM Agree 0
    The entire article was completely insulting and not even accurate about commission structures. I am tired of the Toronto STAR trashing agents in the numerous articles they have published. In fact I called their office and said it is about time they stop this practice considering the thousands of dollars REALTORS spend in advertising in their paper. I also checked out Fee Duck. Agents are bidding down to 2%. This does not pay the buyer agent and also does not even cover their expenses. What is the point of even taking the listing?
  • | 02 Sep 2015, 03:42 PM Agree 0
    I wonder if any of these discounters have ever executed a professional listing including simple things like a full CMA package, newspaper/magazine advertising, "Just Listed"/"Just Sold" flyers, professional photographer, staging, would they spend the best part of a weekend (mid day Saturday and Sunday) at an open house, not to mention eliminating the possibility of doing anything else those days? Closing gifts? I think the answer to most of these items is no as 1% (less their broker split) probably would just cover the total cost of these fees!
    Q: What kind of business model generates zero income?
    A: A bad one. 1%ers fall into this category.
    I guess part timer 1%ers aren't trying to feed their family, pay their mortgages from their Real Estate revenue, they have full time jobs to do that, Real Estate is just for fun and it doesn't really matter to them! Why do they think they can screw with peoples greatest investment of their lives "just for fun"??? Why do they screw with the incomes of full time, professional agents. Part timers should be eliminated. Discounters should be eliminated. Bad Agents should be eliminated. The process to get a Real Estate license needs to become more difficult and if you fail, you're done. Try another career!
    This is a difficult business and these Discounting Clowns are making a mockery of it. Something needs to happen to shake the trees to get the rotten fruit out.
    Discounters, get a life outside of Real Estate! Work in the Gas industry. Introduce the competition bureau to Petro Canada!!
  • Miguel | 02 Sep 2015, 04:37 PM Agree 0
    Only desperate agent will go for that. Sellers have to be careful with the kind of agent they are going to get using this agents that have no clients and need to charge as low as 0.5% to help you to sell a house.... That is what I invest to sell the house of my clients.
  • Erik aase | 02 Sep 2015, 08:50 PM Agree 0
    Too funny! The root of All this is the big box brokerages flooding
    The streets with new licensees. Once their sphere of influence is used up
    Then they're left with only big desk fees and dwindling revenue!
    Is it any surprise then that they answer the siren song of unsustainable
    Real estate brokerages. We need to make licensing tougher and separate the wheat from the
    Chaff. No wonder real estate agents aren't respected with all the uneducated
    Twits running around trying to make a quick buck!
  • David Pylyp | 02 Sep 2015, 11:45 PM Agree 0
    Full Service Realtors provide Print Advertising as take aways; neighbourhood BUZZ awareness for OPEN houses and Just Listed, Better agents stage properties and provide Video.
    New Technology adopters are moving to Matterport Virtual Imaging that attracts 4 times as many video views.*

    All these require time and investment in YOUR sale.

    David Pylyp
    #Bythewater #Toronto
    * my recent listing had 2 offers on 1973 views.
  • | 04 Sep 2015, 11:19 AM Agree 0
    The Toronto Star is so far left wing bias, that you expect them to trash any entrepreneurs. The paper is so dishonest about any issue that doesn't,the fit their liberal views that you can just read the headline and know the story.. No balance. Just trash..
  • Roshan Khadem | 04 Sep 2015, 01:22 PM Agree 0
    Yes - part-timers, unprofessional, and discounter Agents must be eliminated from the industry. I have seen part-time Agents that can not put a good offer together. A part-time Agent brought an offer to one of my listings and the deposit chq was filed to the buyers' Agents office. I am wondering how some one can put their life investment into the hands of an Agent like that. I can say the Real Estate Market is going to lose the public trust in the future so RECO and TREB officers have to think seriously about it and bring the industry back to the standard level.

    Roshan Khadem
    Kingsway Real Estate Brokerage
    905.268.1000
  • Sad in Toronto | 06 Sep 2015, 02:33 PM Agree 0
    The problem is that TREB and RECO are too busy feeding themselves.

    Do the math 45,000 agents in Toronto. How much are the annual dues? How much does OREA make on enrolment and course fees?

    We all know who the greedy people are!!
  • yosamite sam | 06 Sep 2015, 04:55 PM Agree 0
    You nailed it Bud. But they don't care as long as they have their agents credit card # to charge back their desk fees and other brokerage expenses. They'd rather have 50 agents doing a million gross that 25 agents doing the same volume.
  • MUMTAZ KHAN | 07 Sep 2015, 01:13 PM Agree 0
    SIR : YOU HAVE SPOKEN AND WRITTEN THE TRUTH. THE TREE HAVE TO BE SHAKEN TO BRING THE BAD APPLES TO GROUND. I MYSELF AN REAL ESTATE AGENT SINCE 2003. I HAD BAD TIMES AND TRIED TO BE A GOOD AGENT WITH 5 %. IT WAS GOOD I MADE GOOD DEALS FEW. I WAS APART TIMER WITH SINCERE AIM TO BE A PROFESSIONAL , I WAS ON TRACK . SUDDENLY PEOPLE JUMPED AND STARTED 1 % AND FREE LISTING. I COULD NOT SURVIVED . I WENT TO MY PROFESSION WHICH I HAD. I STILL LOVE TO BE A REALTOR. I WORKED HARD TO KEEP MY LICENSE AND PAID A LOT EACH YEAR.
  • a full time long time agent | 16 Sep 2015, 11:48 AM Agree 0



    the biggest mistake ever made is to allow agents to hold a full time job and to do real state part time, it took away business form all of us
    plus we had no say in any of it what happened to our so called profession there is nothing professional about it, all the low life got into to
    it. all the new rules and so called protection to the public ruined our people business where realtors where trusted, and we were happy to help our clients. Now a over educated public tells us what to do, mostly wrong but it opened the door to all the underhanded tactics that
    are available to those part timers and we can only watch.
  • Peter B. Realtor | 16 Sep 2015, 03:39 PM Agree 0
    "In essence, he concludes, “Discount agents are weak negotiators.”"
    Above, is the type of asinine comment that makes it impossible to get to the root of the issue. There is no such think as a standard commission therefore no such thing as a discount. One of the (main) reasons some realtors cannot be more competitive with their commission is because their brokers are greedy. Do you really think your $900 desk fee to pay for the marble flooring in your brokerage will make you a better realtor?
    Education makes you a better realtor and that has gotten too easy. There is a reason why your insurance dues are increasing.
    Doing proper CMA and negotiation makes you a better realtor and there is absolutely NO proof that a 5% listing agent does a better job than a 4% listing agent.
    In short, this business is being negatively affected by:
    - idiot big-head realtors that pump their commission and offer nothing more (is your $20 flyer package really worth an extra 1% listing fee?)
    -brokers that simply pad their staff with more agents so their monthly fees keep on flowing in, even though supply of available listings is thin and many of their agents are simply not earning enough to qualify for a decent income. Have they never heard of supply and demand?
    - the competition board and their aim to make us all equally broke. As long as they get their paychecks, what do they care about us?
    -weak boards that just want to massage things so they can continue to get their fees
    -and lastly, crybabies that want to be spoon fed their commission.
    You don't want competition? Remember that when the local gas station jacks their price. Don't try to negotiate a better deal with your broker. Don't try to find a better printer for your signs and flyers. Don't look for more efficient ways to market your services. Just pay the first, highest price you get and be satisfied that someone else will butter their bread with your excess expenditure.

  • Karyl B Realtor | 19 Sep 2015, 10:40 AM Agree 0
    To Peter B Realtor....Thank you for responding with the the most common sense I've read in this whole forum. Everything you said is true.
  • Another Realtor Guy | 25 Oct 2015, 08:51 PM Agree 0
    There is nothing wrong with discounters. I made over 250k in my second year by giving people deals on listings and excellent service.

    I provide just listed / just sold cards, but any realtor knows... it really ends up being less about the house and more about personal advertising.

    5% in the Toronto market is generally an obscene amount of money. $40k TAX for a seller to sell a 800k GTA home that will likely be sold in a week? That is brutal. I never discount what I offer a Co-Op agent, it is always 2.5%. I see silly things such as $188 "Marketing Fees", which is silly. How about a 2.5% Commission Fuel Surcharge.. Some clients take a day or two to find a house, and some take months.

    While I agree Part Time / Hobby style agents should be removed from the market. In my opinion it is less about them stealing market share, but offering less than expert advice / poor service. It is not fair to clients to have to wait around until you are finished your full time job to get service. If Realtors are generally free for buyers anyway, buyers should hook themselves up with someone that takes their job seriously enough to do it full time.

    My other issue with poor quality agents is knowledge of homes and their systems. Anyone can unlock a door and identify key rooms
    (kitchens, living rooms, bathrooms, etc), but a good agent can point out flaws in a house.
  • Joe Cardona | 27 Oct 2016, 05:58 PM Agree 0
    Get over yourselves! it takes more studying time to become a hairdresser that it takes to become a real estate agent. If you are still passing "just listed", "just sold" flyers, if you are still knocking on doors soliciting business you are a looser. You need to evolve, progress... There is no such a thing as discounters! who told you that there is a set fee to discount from? Do you people even know what price fixing is? do you know that would be illegal? Bravo feeduck and other companies doing great things for the consumer. Real estate people are just sales people! what's the big deal? go sell cars if you can't deal with times changing!
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