Reply To: Estate Agents Fees

Fuengi (Andrew)
Chris McCarthy wrote:
We are genuinely serious, my goodness we couldn’t be more serious in our intent to drop fees to 2% sales commission, and we will now deal alone, with our own clients being vendors and buyers, and will no longer have IN members as you say “pushing off plan” when visiting our vendors properties.

We sell more than 80% resales against new projects, and actually we believe now that figure will grow ever higher, and we also believe that the propensity to lose sales for yourself and for us, will be greatly reduced as a result.

But again and to clarify; we generally don’t keep reservation fees, we follow the contract and return advanced funds, and we no longer are no longer a member of the IN Network.



I’m confused. A majority of your sales are resales? In that case would it not make more sense, as the majority shareholder to reformate the IN and work with other agents than to simply drop the system? I mean instead of all those different commission rates of the IN, just change it to 4 or 5%?