Be aware of the 10% commission touts!
A couple of agents on the CDS have (out of desperation) reinstated a 10% commission rate on re-sales. They seem to have forgotten the simple fact that realtors are nothing more than middlemen, as they do not own their product, and do not facilitate a contact between the vendor and buyer until the actual purchase takes place. Now they are doing the already distressed market a huge disfavour, by insisting that their vendors list their properties with them for a staggering 10%!
Since that is not enough, of course, in some cases, the vendors are also asked to place a sales incentive on top! Naturally, only the most desperate owners would sign up to such a scheme, not realising that this puts their properties into the twilight zone, and that buyers have to be aware that the portfolio offered by this company will be the most limited and commission driven little package ever. These practises have ruined the property market before, so vendors and buyers, resist!
This message was last edited by Robert H on 9/10/2008.This message was last edited by Robert H on 10/1/2008.