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New website could slash agents’ commissions

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Real Estate Professional | 21 Jan 2015, 09:44 AM Agree 0
A match-making website encouraging Realtors to bid for the right to represent a client is drawing mixed reviews from sales reps.
  • Greg | 21 Jan 2015, 11:46 AM Agree 2
    No different than a few of the sites out there already. In the past I have used these auction sites, paid my fee, "won" some listings and made money. Generally the people I represented were difficult to deal with, had many misconceptions about real estate, and were somewhat unrealistic. I have chosen to put my money in other places to generate leads. I can't see this particular site gaining much traction. I could be wrong, but I believe it will more or less just compete with the "Sale by Owner" sites out there now (PropertyGuys, Discount Realtors, Comfree, etc.) who have been around for a while.
  • Bill Lafferty | 21 Jan 2015, 11:52 AM Agree 1
    If any Realtor is so desperate to discount or slash their own income upfront with their seller, what do you realistically think they are going to do with that seller's asking price when they are out there negotiating an offer on their seller's home?

    When does a discount agent stop being a discount agent, when does he stop his discounting? When he's negotiating an offer on their seller's home?
    I hardly think so, do you?

    Real estate experts say, "To get the best service and highest price possible for a home, always choose an agent based on marketing strategy and powerful negotiating skills, never choose an agent based on price alone or commission alone."

    Discount agents are weak negotiators.

    Learn how to defend your commission by going to...defend your and watch the powerful video " 30 powerful techniques to overcome listing objections."
  • | 21 Jan 2015, 12:38 PM Agree 1
    This type of sale representative selection makes absolutely no sense to me.. there's more to hiring a real estate agent then just the commission. Hiring the right real estate sales representative should be more about finding the right fit for you- someone you feel has integrity, someone who knows what they are doing; knows the real estate market and has the experience to showcase your home to ensure it attracts as many buyers as possible and an agent who will in turn work hard to get you the best price. This method of agent selection is equal to buying the cheapest piece of steak you can find - its pretty unlikely that you are going to get quality and i doubt you are going to enjoy the outcome. At the end of the day the bottom line is what sellers need to focus on. If a full service agent gets you a great price paying them a little more commission generally means more money in your pocket vs a lower price achieved by a discount agent equating to lesser end dollars for the seller. I've been in competition with big discount agents before and one key thing i have noticed was that their listing price suggestion was much lower than what I got for the clients who in turn made a much larger profit working with me then the outcome would of been with the other guy.
  • Glen | 21 Jan 2015, 01:21 PM Agree 1
    My comments are similar to Greg's regarding this website. Although my market is very small compared to the GTA, we are seeing more than the usual number of FSBO properties on the market. I also suspect that this website will appeal to FSBO customers who feel there is an easier way than finding a Realtor they can trust themselves and feeling that they may save money in the process. The philosophy of continually receiving more for less is not sustainable. Some will succeed, but in my opinion most will eventually discover that there is no short cut for the hard work, dedication and competent experience of a trusted Realtor, who should be worth every dollar of the commissions they charge!
  • no | 21 Jan 2015, 01:22 PM Agree 1
    Don't forget you get what you pay for!!!!.....If it's to good to be true then it's too good to be true......why give your most expensive possession (your home) to the cheapest agent you can you do the same thing with your lawyer or your doctor or mechanic!!!!! get what you pay for....
  • | 21 Jan 2015, 02:14 PM Agree 1
    Another system to weed out an over abundant supply of incompetent real estate reps.
  • Brahm | 21 Jan 2015, 02:32 PM Agree 1
    I would be very nervous to hire an agent from FeeDuck, AgentHarmony, etc. In this business, you can be either PROACTIVE or REACTIVE! If you are sitting on these types of sites and not prospecting, I find it hard to see someone making a real living. The agent who uses the phone as their main lead generation tool is more likely to secure more listings and buyer contacts than someone on FeeDuck. Why pay someone (or a service to lead generate for you, when you can prospect, and keep all your hard earned commission? But that's just my opinion. I think it is safe to say that if we could gross (or even net) $100,000 by using that site, every Realtor would be lining up for it!
  • | 21 Jan 2015, 02:36 PM Agree 1
    These are the clients that you do not want. Work smarter not harder. Representing a few clients well is better that representing many poorly. Is it okay to say no to clients? If so, which ones? Join me to discuss.
  • DJG | 21 Jan 2015, 03:36 PM Agree 0
    I want to qualify my below comments by stating that I am not a fan of discount realtors and nor do I discount my services. FeeDuck is yet another example of a market that is changing. As many GTA communities experience higher than normal prices, consumers are looking for savings. The world we live in within the GTA is an expensive one when compared to other North American cities. I know that the amount of discounting in the GTA is something that is rare in many U.S cities. Why it's so prevalent here is likely due to a number of factors. Whether FeeDuck is successful or not is yet to be seen. Property Guys is a good example of a company that took advantage of a situation for a few year but is currently losing market share, from my understanding. It is true that consumers get what they pay for, but the issue is that some of the lesser quality Realtors are charging full pop for crappy service. How do we reputable Realtors then convince people that we are "different". We often get caught up in our own worlds in the business - Consumers vs Realtors. We tell others that we are different, that our service level standards are superior to others and we are therefore better negotiators. However, the reality is most Realtors don't have any formal negotiation training, learn marketing on the whim, and pride themselves are being quick to respond to emails and phone calls. Are we kidding ourselves? We must be more than this if our industry is to survive and justify our commissions. To all of those Realtors who cut commissions, do so by acknowledging that you are providing a basic service to others. For us who want to charge full price, let's do so by learning new skills and being the best in the business. Fee cutting is a economic practice in every industry and we are no different, so don't pretend Realtors are a special breed, because we simply aren't. We provide a service and what many people offer isn't enough to justify the cost incurred by consumers. Times are changing in the GTA, so I encourage everyone to stop bitching about commissions and start offering services that justify your costs. We are in a highly competitive business and offerings such as home staging, good customer service, etc is not enough to stay competitive.
  • Dave | 21 Jan 2015, 03:54 PM Agree 0
    One thing is clear , people do not want to pay 2.5% anymore to the majority of agents who are not worth it .....The market has spoken
  • Larry ( | 21 Jan 2015, 06:43 PM Agree 1
    You get what you pay for. Full time Realtors know what they are worth because they spend their money and time building and improving their skills to ensure their clients get the best service, support and representation. Have you ever bought anything at a discount price only to find out you have wasted your money and now you have to make another purchase for the right product? How do you undo a sale after you realize you have chosen the wrong realtor?
  • Ron | 21 Jan 2015, 09:54 PM Agree 0
    I am a realtor of 25 consecutive years. I believe the reason we charge what we do is because a large % of listings do not sell during the period we have it listed. We have to recoup that time and money some how so it is covered by the listings that do sell. (The listings that sell pay for the listings that didn't). If realtors charged for their services like any other profession, by the hour, the consumer would be very conscious of wasting our time and in the end, end up with much lower fees and a much, much higher level of service.

    For example, we sell a home in a week and make $15,000.00 -. We are told we didn't earn our fee. But Isn't that what we were supposed to do?
    We sell a home in 6 months and are told we earned our commission or still maybe we didn't. Something wrong there....

    I believe we should be paid by the hour. It would get rid of the poor realtors and the time wasting clients. Anyone know if this has or is being done anywhere in the world.
  • Dustin | 22 Jan 2015, 06:13 PM Agree 0
    The idea Ron presents about being paid by the hour is an interesting one. Unfortunately there's some inherent issues with this approach given the sheer amount of Realtors out there. I don't think business would be sustainable for the average Realtor on an hourly rate, especially in some markets where homes sell fast. Perhaps this idea could have some traction if our business wasn't so saturated with part-timers. It would surely change our business to one that depends on volume vs the dollar value of a particular home. Also, how would we get paid on the co-operating side? Regardless, it's an interesting idea.

  • Norm R. | 23 Jan 2015, 06:11 PM Agree 0
    The discounted approach to sell real estate will work for some real estate agents, maybe even part time real estate agents! Why would a seller want to hire an agent that and can't even negotiate their own commissions!! The seller may find out after it's to late it was not the way to go.
  • Toppower | 25 Jan 2015, 02:42 PM Agree 0
    The concept is nuts! It makes no common sense.

    Ok let me think about this for a second. I'll use a simple illustration.

    I need a vehicle that gets me from point A to Point B. According to the Government, all the cars pass the minimal safety standards and they are legal to be driven on the local roads.

    Whichever automotive brand gives me the best price........ I'll take it! Who cares if it fits our needs. Price is KING!

    Sounds like a formula for disappointment.

    The Saying " you get what you pay for" is one of life's hard lessons.
  • Alf@RE/MAX | 25 Jan 2015, 02:54 PM Agree 0
    We all know that cheapest isn't always the best. The owners of the website have figured out how to make money in real estate but have no clue what is good for the consumer. I can see some new REALTORS using this for until they get a client base. Some may have to use it forever. You get what you pay for.
  • You Can Call Me Al | 25 Jan 2015, 03:08 PM Agree 0
    I registered with FeeDuck when it first surfaced. My intention is to simply post my regular commission. Just because others are slashing their fees - it doesn't require me to do the same. Maybe some of the Sellers will wonder why I'm competing at a higher commission % and ask why I would request the more 'traditional' fee(?)

    *I have many or all of the answers to handle any such questions/ objections. I've worked as a discount agent.

    While the Canadian company I worked for advertises "Full Service" ... it was absolutely anything BUT full service. Sellers were told that the margins wouldn't allow for requested newspaper or other such paper advertisement when such ads were requested. The agents stockpile listings - so how many Sellers who want Open Houses actually receive them? Not many!

    When the company does sell - in about 50% of the cases, the Sellers are convinced to pay the cooperating agent a full fee (as many of the buyer's agents insisted on being paid their fair commission). Classic bait and switch company (who shall remain nameless).

    A horrible method and I would never sell my own home this way. It was not easy being a 'discounter' ... but to truly know how the discounter side works was a very worthwhile and educational endeavor. Very eye opening! They are most all inexperienced agents who don't typically care how much a home sold for - as they were getting their bulk sales and/or flat rate regardless the sale price.

    An interesting experience, and for me ... never, never again.
  • overpaid | 25 Jan 2015, 03:26 PM Agree 0
    Not one agent has ever justified their bloated fee model...the work done(tour guide) for 100,000 home or a10,000,000 home is the same ,except some agents will wear a nicer suit or drive nicer car(that u pay for) !!!!!!! stop paying those outrageous fees and do some research

    agents are basically tour guides,taxi service,fill out forms....they shoot for previous sales for listings /sales/ MAGIC..oh yeah they do that other miracle with low supply...BIDDING WARS!!! Keep in mind u don't even need a high school diploma to become a agent!!!

    You can get the same results and all the money in ur pocket by using many agents who are realistic by charging 1,000 -2,000 tops...

    stop buying into the flashy,big advertising,monopolies...and buying into we need them to save the real estate industry ..all they are preaching,spending money is to defend a monopoly..

  • Jason Lewis | 25 Jan 2015, 04:03 PM Agree 0
    Flea Market, Garage Sale, Thrift Shop, etc. Similar concepts that give you what you pay for.

    Having been in real estate on both ends for 25 years, I have grown to realize that there is no substitute for knowledge, experience, marketing and negotiation skills. Will people ever learn? Would these same people also tender out a surgical procedure to the lowest priced doctor? Seriously. Not me. I want to work with the best of the best so I get the best of the best. If I am a seller I want someone who has a degree in marketing, experience in communications, proven negotiation abilities, and references.

    Good luck getting that at the thrift shop.

    In real estate, it is value not price that determines the end game and future returns. There is never value at a garage sale. Something is always busted or missing. Expect the same of a bazaar style discount service. Do they sell rugs and trinkets too?

  • MR EGO | 25 Jan 2015, 05:16 PM Agree 0
    Typical Ego Agent(thinks he invented the wheel) selling his song & dance that checking previous sales and telling his/her clients I am the "ANSWER" Comparing agents who works for less to garage sales( I have seen plenty of garage sales where I would hire that person over some EGO agent who wants $40,000 to be a tour guide....genius/hard working/experience only equals results!! ??? Only thing ur ego gets is a big Commisson and a New SUIT

    Bottom line buyers and sellers are waking up to the bloated model for the ego agents. Funny they mention surgeons .....u need a high school diploma to be a agent and 10 years for extra schooling for surgeons....I see the comparison!!!!

    don't waste ur money with these EGOS...find a great AGENT FOR A $1,000 AND STOP BUYING A NEW SUITS FOR THE EGOS
  • Robert | 25 Jan 2015, 07:40 PM Agree 0
    I have been an Agent for about 5 years now. I am constantly seeing the tug of war between rookie Agents discounting to get any listing and veteran Agents who think they can still command commission rates of yesteryear ... 6%.

    I really do believe you get what you pay for. However as an Agent I think commission rates of 20 years ago cannot be justified. But that also doesn't mean we work for nothing either.

    It always amazes me how some Sellers and Buyers seem to think that after we've done such a great job that my commission is still negotiable.! Consider this Mr. Buyer or Seller. At the end of your work week, does your employer tell you he has decided not to pay you as much as you agreed upon? Commission, salary, hourly wage.....they are all the same. It puts food on the table in this very expensive country to live in.

    If Consumers would do the math on 1 percent or half percent of the sale price they would realize how insignificant it is A good Agent can recoup that in negotiating the purchase or sale. It really is negligible.

    And to the commenter above about the "big car" and "fancy suit". If I showed up in a rusted Toyota Tercel and ripped jeans what type of impression would that make?

    Cheap is cheap and you cannot disguise yourselves Mr. Consumer it by attacking people in any profession who are knowledgeable, acute, trained and experienced. Not all Agents are created equal. Just think of the career you are in....not everyone is competent.

    Respect works both ways and just because we are paid a commission doesn't change how you deal with people. There are black sheep in every profession. It's up to the Consumer to weed through and ask the right questions. And the big one is, "do you do this full time or part time?" Because part timers do not have enough hours in a day to do proper research, previewing homes without Buyers and Sellers, take extra courses over and above the minimum required by RECO. Yep, I'd hire a part timer to sell my biggest asset!

    And I do believe the bar should be raised on obtaining a Real Estate License. However you cannot weed out dishonesty, laziness and people looking for shortcuts without putting in the effort, just like any industry.

    Frankly, any client that is going to attack me on commission to try and whittle me down to a pencil is not worth working with. Typically they have unrealistic price expectations and end up blaming the Realtor and going with another in hopes of the "miracle pill". They should use FeeDuck and take the bottom feeders. They are there for a reason.
  • MR NO EGO | 25 Jan 2015, 10:46 PM Agree 0
    Rebuttal: MR EGO

    Wow. This looks like a great business for you. Well done!

    Please help me understand how you can afford to create a website, create a professional brochure, generate professional photography, provide staging, develop a video, advertise locally, nationally and globally, translate into 5 languages, conduct open houses, connect with agents across the globe, conduct research and provide advice, etc, and spend time selling a clients property to ensure their investment is protected all for $1000? Incredible.

    I am very impressed if you have found a way to complete all of this and the additional items required to properly market and sell a property for the dollars you are talking. What is left over must be used for your transportation, insurance, regulatory fees, training, education, office fees, cell phone, printing, and more. You are either not a real agent, not following the rules, or not representing the needs of your clients. You decide.

    Not sure how you are pulling this off, but I wish you luck in continuing in the business. Perhaps you should change your name to MR SUPEREGO.
  • e. harold | 26 Jan 2015, 09:15 AM Agree 0
    no matter what you Buy today - You Get What You Pay For - a cheap product does not last - neither does a Cheap Realtor - When You need Real Help, they're gone - Save Time Save Money - Go with an established Local Realtor - It's Your money to waste
  • j. loosely | 26 Jan 2015, 09:22 AM Agree 0
    Feeduck is spelled incorrect - the 'd' really is an 'f' - believe it !!!!!
  • Dinosaur | 26 Jan 2015, 10:43 AM Agree 0
    Dinosaur feedback from the Egos. I spend money on advertising!!! you get what you pay for!!! more of the same old dinosaur talk...You put it on MLS for a fee and sit back and 80-90% of the time some other agent brings in a offer!!!! U post/adv practically free online and odd time you get ta hit... this cost 20,000-60,000!!! ? Not sure why u take it so personally?? you are tour gudies,taxi service and online form filler outers!!! you shoot for previous sales on lisitng and sales!!! please tell me what other miracles u use?? SOme agents even compare themselves to surgeons on their craft!!! High shcool diploma, 3 months of courses, couple thousand and ur TOURING!!

    lawyer makes a $1,000 and I am sure they do equal or more work as a agent will do... sure the agents tour,taxi sometimes a little extra and I am sure lawyers do some extras sometimes too...

    stock brokers,travel agents all had egos on fees!!! they create bidding wars as a tactic...the skill,experience or whatever never changed only thing is prices went up and consumers got caught up in those bloated fees...

    Save ur money and search for a $1,000 agent and keep u r money..of course nothing is guaranteed even when u pay $30,000...but just do a liitle digging before u buy th ehome and pay ur lawyer a little extra to makessure allis good..
  • careful representation | 26 Jan 2015, 10:53 AM Agree 0
    another thing too is if u get involved with a ego agent with a representation agreement as the CBC posted on here at least with a 1,000 agent the cost would be minimal/zero compared with the EGO FEES!!!
  • Peter | 26 Jan 2015, 12:31 PM Agree 1
    If I were to judge you by your comment, and your poor grammar and spelling, I suspect I could get you to list my home for about $50.00. I also suspect you couldn't sell my home in a million years unless I priced it so low that other agents and/or buyers could stomach dealing with someone like you - with such a poor attitude and, I'm guessing, LESS than a high school education. Then again, I may be wrong. You may just be drunk.
  • Flufffffy | 26 Jan 2015, 01:29 PM Agree 0
    more ego agents attacking grammar skills/education ..that is all they have ..most immigrants who are buying in the city beware of the EGo agents looking down on u or taking advantage of you!! CBC has a article how a EGO AGENT took advantage of someones poor communication skills!!

    Bottom line work with a agent who charges 1,000 and you have little/no risk . ALL THOSE HIGH COMMISSIONS ARE JUST PAYING FOR THEIR EGO LIFESTYLE. I AM SURE WE ALL KNOW THERE ARE PLENTY OF PEOPLE WHO WORK HARD,GET GREAT RESULTS ,HAVE TONS OF EXPERIENCE AND WILL CHARGE A MINIMAL FEE!!!! But the Ego agent says not possible how much EGO is that!!!!??
  • Harry G | 26 Jan 2015, 06:26 PM Agree 1
    Do your homework, your an inexperienced person, no clue what makes a top sales person
  • Homework | 26 Jan 2015, 07:34 PM Agree 0
    More Dinosaur feedback from the Egos..the days of catering,flashy suits,flashy cars ,glitter,big offices, big ego.... is boring(dinosaur) and all it does is feed their pocket book and EGO...everyday we see in the papers,presidents telling the public the money needs to spread out more and not just feed some of these monopolies and Dinosaurs telling US they invented the WHEEL,we are top sellers etc.... prices went up not ur skill to justify those commissions

    No idea!!! Please enlighten the world with the Magic???? Check online listing,taxi,tour,shoot for previous sale,close and Viola NEW SUIT!!!

    List ,sit back,another agent shows,hold out strong market , TRY THE BIDDING WAR TRICK..boom another suit
  • Danny Stewart | 27 Jan 2015, 12:00 AM Agree 0
    Mr EGO: If you are the type of client that uses sites like Feeduck, then that alone is reason enough for me to NEVER offer my services on those sites!
  • Danny Stewart | 27 Jan 2015, 12:04 AM Agree 0
    I find it odd why they say they created the site; “We came up with the idea because it was a challenge for us to find an agent when we were going through the buying process,” said Kandola. In Quebec the seller pays the commission so there would be no discounting necessary for a buyer's buyers pay commission in BC?
  • TOUR GUIDE | 27 Jan 2015, 09:40 AM Agree 0

    buyers and sellers look for a good agent who would be happy to list or sell for 1000-2000. SAVE UR MONEY!!!! Stop filling these egos with more ego and money. Not one agent has justified 20,000-50,000 worth!!??? They advertise!!! ? Like I said all you are doing is paying for their EGO LIFESTYLE for a service that you don't even need a high school diploma to do the TOUR/taxi service

    Especially condos it is basically a status certificate that tells u everything!!!! No matter what the ego tells you... issues can happen with homes/condos etc after the fact no matter how much ego is spread around.

    Condo Tour: kitchen,bathroom, living. Ammenties, status certificate , offer please...NEW SUIT!!!
  • Robert | 27 Jan 2015, 10:27 AM Agree 0
    I'd like to know what this guy does for a living. I'm sure he is worth EVERY penny his employer pays him. Can you imagine working with such a person and attitude. The fact that he lumps everyone into the same bucket says a lot.

    I'm a newer Agent and yes, some of the dinosaur attitude must change. The cocky attitude stems from the fact that the public can use a website that we pay for. I don't have access to Canadian Tire's website to sell items I may want to get rid of.

    Imagine Mr. Consumer if you didn't have the internet/ that Realtors pay for, not you. Then how would you price your home? Or find out what a particular home sold for?

    If it wasn't for the Competition Bureau allowing you to advertise for $1,000 on a website I pay for then it wouldn't be so easy.

    No, we don't have to charge a fortune. But sit down and learn the costs associated with this career. And all the disloyal people who we list and spend money on and then ditch us when they don't sell their house for what they want, which is usually to accomodate their poor financial situation versus market value.

    Be brave and please do tell us what you do for a living.
  • Maritime Mike | 27 Jan 2015, 10:29 AM Agree 0
    Agents who discount to gain business are in the business for themselves and focused on the money that they make. A professional agent knows their value and can defend their fees. In doing that, they work in their clients best interest and do get better prices and conditions whereas the discounter is only interested in their own fee and will most likely put a deal together as quickly as possible, regardless of the outcome for their clients. There is an old saying: "There is always someone who will do less of a job for less money and that person who buys on price alone, is that man's prey!"
    Who has hired a tradesperson who did terrible work? Or a dentist who killed the wrong tooth when doing a root canal? Everything someone else does looks easy until you have to do it. I've seen part time, inexperienced or licensed but untrained agents make so many mistakes that the other agent in the deal has to help them put the deal together and you wonder why their clients are not suing them or at least firing them. A real estate license just gives you the legal right to represent someone and it takes continuous learning to stay on top of a changing industry and lots of practice like every other profession to be really good at your job. Practice ,best practices and you get better. Practice sloppy work and it is a downward spiral.
    "Skill to do comes of doing."
    -- Ralph Waldo Emerson, Poet
    There are people who buy broken open food packages, food in dented cans, products in broken open packages etc and there will be those who will buy the cheapest product or service to satisfy whatever need they have. And for you, there is a realtor who will give you what you are looking for. Good luck. When things go bad, don't cry, "why me" and blame your situation on everything but where you should, on yourself. Things don't always go wrong and you might be lucky which is fine if you enjoy gambling on your future and that of your family. Like insurance, no one needs it until they need it. No one needs a professional on their side until something goes wrong. Years ago when I first got into sales I learned the difference between price and cost. Price is a one time thing that you see up front while cost is what you pay over the lifetime of the product or service.
    In quality control processes, the mandate is, if you cannot afford to do the job right the first time, how can you afford to fix it later. Do the right thing because it is the right thing to do. People who get paid fairly can afford to do that. People who discount, regardless of the business, cannot spend any more time with you than they have to.
  • 1,000/hour average EGO | 27 Jan 2015, 11:11 AM Agree 0
    Of course if we didn't have the world of Real estate would not exist!!!??? More is called a monopoly of information.

    Please justify 20,000-50,000 commissions to play tourgudie/taxi service?? I keep saying ur fees went up because of realestate inflating fast these was not because ur skills,u do more work,u invented another wheel,experience.....

    And tour guide /taxi service is very respectable and worth 1000-2000...that Is being generous too..

    If you can convince ur clients to pay those fees go for it!!!

    MLS LOOK UP 1 hour
    tour/taxi 3 hours
    offer dance 2 hours
    6 hours 5000-10,000 fee ,only works out 800-1600/hour !!

    Makes Sense!!
  • Jackie Laurin | 27 Jan 2015, 12:22 PM Agree 0
    The goofy daffy duck comic strip rep in the photo of the site says it all.
    A former Toronto active owner-realtor now based in Ottawa, I can assure our colleagues & public
    It;'s not difficult to find a licensed registered professional realtor in the GTA area,
    especially in Oakville.. one buyer's perspective is one buyer's perspective.
  • SAVE SAVE SAVE | 27 Jan 2015, 01:39 PM Agree 0

    Save ur money and Look for a 1,000-2000 agent who will do the same if not more work to earn ur business. There are plenty of qualified agents who are realistic and understand what a agent offers is not worth 20,000-50,000 plus !!!!!!

  • Mal | 28 Jan 2015, 10:09 AM Agree 0
    Here's to the ass that thinks we are over paid, and you should be able to sell your house for a 1000 or 2000 dollars.
    Watch what you wish for. If it ever get's to the point that you can sell for next to no money, I can assure you BIG BROTHER aka the government will sooner or later impose capital gains on your personal property. Not just commercial or investment properties.
    And see how all you complainers think about paying 25% from your 300,000 to 400,000 profit. Gee 5% commission doesn't seem all that bad now does it.
    The day will come.
  • Licensed in Onatrio | 28 Jan 2015, 10:25 AM Agree 0
    the fee duck folks say:
    “We came up with the idea because it was a challenge for us to find an agent when we were going through the buying process,” said Kandola, whose co-founders all live on the same street and were looking for houses last year.

    How can this be true. Perhaps they are not very good at interviewing anyone let alone REALTORS® or did they have unrealistic expectations. They need to fess up and say they did it for the money, an idea that surfaced over a few glasses of wine.

    If what they say is true then shame on the Oakville REALTORS® - but I don't believe it.
  • diva 1 | 28 Jan 2015, 10:27 AM Agree 0
    When i am about to sell arguably my largest financial asset or spend in excess of one half million dollars and up... I want a professional... What happens if i reduce my commission and we agree that it limits my advertizing and marketing investments in your property? And your property does not get the exposure required to achieve your expectations? Well we all know the answer.. you will be pissed and blame the realtor forgetting you insisted on a discount which the realtor got you... So... do what you want ... you get what you pay for. And discounts in commissions are discounts in services.
  • diva 12 | 28 Jan 2015, 10:33 AM Agree 0
    Clearly people are ill informed as to the services of a professional agent. Shame on the real estate profession. It makes me laugh when everyone has an opinion about realtors should be paid. It is the same for teachers... gosh all those summers off... and what about doctors, or nurses, or garbage men... What about cab drivers and ... well you get the picture. People of ignorant. If have the people had an ounce of understanding of knowledge of the real estate industry they would know that if you use a discount service you get discount service. And the people who do use discounts are - for sure- the biggest complainers and nay sayers.
  • TOUR GUIDE | 28 Jan 2015, 10:33 AM Agree 0
    To the TOUR GUIDE,

    Name calling from the EGOs. Feeling the pressure...hope they make the tax system fair for capital gains on investments as personal income..."increase the tax on investments" u are talking. They should add a tax to personal property too... make it on a scale...

    All buyers a sellers check the CBC articles on how to save ur money in real estate transactions. The realtor is becoming a bit of a,information is changing...there should be a website that you pay to negotiate transactions in the near future ...send them the offer, they negotiate,send to lawyer, $500 per /transaction

  • | 28 Jan 2015, 10:35 AM Agree 0
    This so annoys me...
  • Inflated Commissions | 28 Jan 2015, 11:50 AM Agree 0
    egos comparing themselves to Doctors,teachers,nurses again!!!! High school diploma not needed to be a Realtor. Doctor,nurse,teacher little more I think!! They are over paid(above) too with their monopoly I agree....

    Stop being annoyed with reality it is hard but u should face it!!! Be strong .... Commissions are dying like dinosaurs...Stock agents all went through it.... if ur service was so valuable like a SURGEON their wouldn't be alternatives!!!! THe days are numbered on ur inflated commissions..
  • Robert | 28 Jan 2015, 12:19 PM Agree 0
    Seems to be a lot of hot air from the complainers but they still have not shown the courage to tell us what they do for a living. Cowards that hide behind the internet make it easy to point fingers.

  • TOUR GUIDE | 28 Jan 2015, 12:32 PM Agree 0

    I agree lots of complaining from the realtors. Saying they justify their inflated commissions based on skill?? Housing prices rose rapidly not ur skill!!! Where is the skill in selling condos? Status certificate/lawyer will give buyers/sellers all they need? Economics 101 supply and demand for housing ...BIDDING WARS WAS THEIR SKILL... Think in grade school I figured that one out!!!

    Taxi/tour service is nice but even a 1,000 is generous!!! Negotiations ,they shoot for previous sales or if there is demand pump it up with THEIR BIDDING WARS!!!

    Now there is a biding war to lower commissions they feel threatened!!!!! No problem when their is a bidding war to pay more for a home and their commissions go up with higher prices!!!
  • hera | 28 Jan 2015, 08:31 PM Agree 0
    I just want to say that there are some real estate agents who don't know what they're doing and pretend they are experts. This is a joke. I personally am terrified from words "real estate agent". I believe the only quality they have is to mislead people and make a huge profit. This is really fun because the most important part is being done from the lawyer that charge not much compare to these "agents".
  • Robert | 28 Jan 2015, 09:28 PM Agree 0
    You are absolutely right that there are Agents that don't know what they are doing. That is the very reason you are voicing your opinion on here. They make the Agents who know what they are doing, and working hard, look bad.

    My mantra is to give my Sellers a break on commission if they are buying through me. Once again though, walk a mile in our shoes. Until you experience the other side of the fence and the nuances that go with the job, then you will understand.

    The consumer only calculates listing a property and selling it. But there is a lot of preparation every day including studying the market, learning the ever-changing laws to protect you, viewing homes without you there (internet pictures don't always do justice and show "actual" conditions).

    I am proud to say that I have great negotiating skills. Along with that, when I evaluate a house to be listed I inevitably come in extremely close to selling price. This saves the Seller a lot of inconvenience, aggravation with appointments, cancelled ones and no shows because I have shortened the process that interrupts their lives.

    On the other foot, there are Sellers that over price their homes because they don't take my advice. And then blame the Realtor for not selling it. Time and money go out the window when they hire another Agent to do the same thing. So there's no free ride.

    It's not just about looking up information, but to analyze and intrepret the right course of action as well so that the Consumer does indeed get a good deal and feel good about their purchase or sale.

    Like I said, there are a lot of bad apples in the real estate cart. But please don't put us all in the same basket. It's no different than your profession. I'm certain in your job you bring value to the table that others may interpret otherwise. It's all subjective. And like politicians, we will never make everyone happy.

    All I know is most of my clients declare "I didn't realize how much work it consists of for you to sell/buy my house". And that is not a fake testimonial. There are grateful people out there that recognize value without ripping them off.
  • COMM. Bidding Wars | 28 Jan 2015, 09:29 PM Agree 0

    Speaking my language!!! I agree lawyers really do one / most important parts and make 1000 give or take.. The only reason these ego/bloated "agents" make more is PRICES have increased ....buyers and sellers should have had most of those Bloated fees passed/reduced onto them for a service that was unjustified. Typical the greedy agents of the early/recent years benefited and the future agents will suffer.

    MORE COMMISSION BIDDING WARS!!!!!!!!!!!!!!!! Agents invented it and we all should push ask for it!!!

    Above name sounds like a good name for a website!!!
  • Wayne | 29 Jan 2015, 11:09 AM Agree 0
    Note to all....our Mr Ego and his various alias's is a well known 'troll' who lurks about this site spewing invective. I've had lots of fun playing with him but in the end it's no fun because he is almost witless, barely speaks English and has no imagination. Nobody should take him seriously as he clearly has no concept of what he's talking about, if his diatribes could be called talking. Hey Trolly...have a good day😄
  • Hair Coloring | 29 Jan 2015, 11:55 AM Agree 0
    Thought u would be coloring ur hair or something this morning?? CAN u share that magic of HOME SELLING again!!! ?? You chose a career you don't even need a HIGH SCHOLL DIPLOMA for... with ALL THAT MASTER OF THE WORLD you possess!??....paint a picture of that magic u possess when it comes to selling... crystal ball forecasting,looking up previous sales, taxi service , tour service and rolodex to the best inpsectors. EDISON ,FRANKLIN move over Hair coloring Wayne is here!!

    Attacking communications skills is a SKILL and sniffing out those gullible buyers/sellers....funny CBC talks about ego agents looking down on buyers/sellers communications skills...realtors like to take advantage of them ..

    keep up the coloring of ur hair and the picture of selling

  • Wayne | 29 Jan 2015, 01:13 PM Agree 0
    For pity sake man stop making such a fool of yourself. You can barely speak English yet that is the language you choose to attempt the making of your point. While everyone is entitled to an opinion, there is almost NO value in an uninformed opinion. Clearly you have never been a Realtor yet you feel that you have something of value to add to the discussion. Insults from an idiot don't mean much but fire away. I'm sure it will make you feel better. I hope that one day you find a friend and end up with better things to do than lurk, troll and spew.

    PS: What makes you think I have hair??😃😄
  • FORM A SENTENCE | 29 Jan 2015, 01:39 PM Agree 0
    Not sure why a big agent like you would even do the dance on here!!! ? tells me a lot about you...ranting about spelling/writing skill... talk about desperate.. start writing ur feeback to ur clients if the market turns... sorry for the crystal ball comments but thx for my inflated fees, I hope u enjoyed all my tours of so many washrooms,bedrooms etc. my taxi service , I hired a helper to fill out the forms so thx for paying for that too...I get exhausted looking at resales to form my genius opinon on home values...found another helper to that too..thx again for paying for that

    PS: hope you fools don't realize high schoolers could do my job and you don't realize that lots of my clients are realizing this service can be found for $1,000-$2,000!!!
  • Robert | 30 Jan 2015, 05:07 PM Agree 0
    Education goes a long way - formal or otherwise. This includes experience in their career. People skills are paramount in obtaining successful sales results for our clients. If we responded based on the rants from some of the uninformed above we would never have a sale. It takes tact, class, assertiveness. I couldn't imagine being on the other end of at least one of the people commenting above. It is apparent he or she is socially illiterate or they wouldn't have posted in the manner they have. Redneck comes to mind.

    It's not about a "taxi service" or "filling out a few forms". It's marketing, psychology of people, positioning, preparing a house for sale (no, not everyone has the eye for this) and many other considerations to obtain a sale or purchase satisfactory to a client. Some people simply do not have the personality to make it happen.

    Insinuating a high school education is trivial, think Bill Gates who was a Harvard dropout. Or Michael Dell (Dell Corporation) who did not have a post secondary education either.

    Fifty rants later and the person who is attempting to belittle our job has yet to disclose their career choice. This speaks volumes.
  • Doctor/realtor comparison | 30 Jan 2015, 06:58 PM Agree 0

    Your ego keeps missing the point!! Being a tour guide with tact, class, assertiveness still doesn't justify bloated fees. Maybe if you use poetry,shakespeare and a nice suit ..

    You keep telling ur clients that paying 20,000-40,000 is a lot better in ur ego pocket than theirs. I visted my doctor 10 times,for many hours,he gave me advice ,directions, showed me pictures, fixed the problem and that may have cost 2000. But if u ur a EGOREALTOR it should be 10 to 20 times because we offer a taxi service. btw the doctor offered me a tour of the office each time too included.
  • Jackie Laurin | 01 Feb 2015, 02:57 PM Agree 0
    I'm laughing maybe some of us thought it but you wrote it. Good for you & I like the tag
    Mr. No Ego.. it's all good fun here and yes I don't know how Mr. Ego or Mr. No Ego can actually earn enough to pay every Canadian's partner,
    I think maybe I ought to work 50 % less and pay 50% less to our partner.
    Jackie from Ottawa
  • Jackie Laurin | 01 Feb 2015, 02:59 PM Agree 0
    Well said, they do serve a purpose the no fee people, they keep the full fee service industry in business.
  • Jackie Laurin | 01 Feb 2015, 03:01 PM Agree 0
    Robert, you may be a new agent, but by what you've written here, you'll be a long time respected agent. Good fortune to you .
    Jackie lLaurin .. it's a great industry welcome!
  • Jackie Laurin | 01 Feb 2015, 03:03 PM Agree 0
    Not ego my friend its called professional experienced realtor.
  • Jackie Laurin | 01 Feb 2015, 03:04 PM Agree 0
    Mr. Loosely ,hurrah for you to give us some humour.. Jackie
  • Robert | 01 Feb 2015, 07:32 PM Agree 0
    Thanks for your kind words, Jackie.

    These posts have indeed become comical so much so that you cannot take them to heart....I encourage free is a great way to vent and reduce heart attacks. lol.

    It's too bad some people are so unhappy with themselves and so miserable that they feel it is necessary to be so vindictive. It creates poison in the soul.

    Now let me get back to work and prepare for tomorrow's clients while the mean-spirited put their feet up and watch the Super Bowl.
  • | 01 Feb 2015, 09:34 PM Agree 1
    As a full service broker for 35 years in Toronto and the GTA I've come across every kind of business model you can imagine. I've never been fazed by competition, especially from "discount" brokerages. In my view, if a seller or buyer does not value or recognize what it means to have an agent that is 100% dedicated to make sure they achieve the best possible terms for them...then we are not a good fit!

    As for FeeDuck (what a name for a real estate site!), PropertyGuys, Comfree, FSBO, I really don't know about you but they have zero to minimal impact in the market that I'm in. I would suggest if anything they make even the most incompetent of agents look really good. The cure for all of this will of course be a slower market. To my colleaugues that were in the business pre-1996 you will probably know what I mean. Just imagine how much fun it would be to put deals together with interest rates in the 12-15% range, and sellers needing to take back financing. Of course I would not wish this on anyone, nor do I think we will ever have to worry about interest rates reaching those heights.

    To every realtor out there here is my advice. Always strive to do your absolute best for your client. But in the process, don't sell yourself short, and by all means do try to protect your commission as though it were sacred. You've earned it, you deserve it!

    Have a terrific 2015
  • feeDuck | 21 Jun 2015, 12:09 AM Agree 0

    We have reputable agents from great brokerages all across Ontario and are expanding across Canada this summer. Agents don't have to discount their services with us, we just ask that they go as low as they are comfortable going - it's a negotiation afterall. Furthermore, rather than 'blanket marketing' neighbourhoods hoping to find a homeowner who is selling, why not spend the difference on feeDuck where the homeowners are ready to sell within the near future? It just depends on where you want to spend your marketing dollars. We say, save on your marketing expenses and use that marketing budget with us!
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