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  1. Post
    #26
    Quasi ELVIS wrote:
    They still get a few bucks a month for their troubles regardless, don't they?
    afaik it's 100% commission based, so nah

  2. Post
    #27
    i.e.awesome wrote:
    afaik it's 100% commission based, so nah
    Is it though? Not paying someone to work for you seems illegal somehow.

  3. Post
    #28
    Quasi ELVIS wrote:
    Is it though? Not paying someone to work for you seems illegal somehow.
    as a real estate agent you are self employed as a contractor of the real estate company rather than being employed by them

  4. Post
    #29
    i.e.awesome wrote:
    as a real estate agent you are self employed as a contractor of the real estate company rather than being employed by them
    So if you have a shitty year and don't sell anything you make $0 for the whole year and your children die of starvation?

    Sounds like they get paid way too much or way too little.

  5. Post
    #30
    Time to exit the real estate market for those people in that case.

    Or start a real estate company that pays a wage and the company gets most or all of the commission like most businesses.

    I have no sympathy, I would be surprised if any of them signed up with the intent of making a regular living wage rather than being blinded by the single sale commission values.

    And would be even more surprised if they signed up to a company that told them they'd get 70k salary but all commission goes to the company.

    "Waaah, I haven't sold anything for three months and you've paid me this entire time but that sale got a 65k commission and I don't get anything from it, waaaaaah" *doesn't sell anything for another 6 months*

  6. Post
    #31
    I recall an article that talked about the real estate agent numbers due to shrink by something like 30% in the next two years due to decrease in house sales numbers.

    From my only experiences with agents, that seems like a good start.

    When I was looking to sell a house in a small town, I priced up all the local agents, and found them all mysteriously all priced within a fraction of a % of each other in costs. So I sold it myself, while raising a middle finger to the local agents (figuratively).

  7. Post
    #32
    Real estate agents get from I think 2.5%.to 4% commission depending on the company, the company then takes a portion of that. Apparently in nz it's super high, other countries it's like 0.5-1% commission

  8. Post
    #33
    ErAd wrote:
    White collar crime is the answer why.
    If you look up the companies office now you will note that Aaron Drever is now the sole director and shareholder of Avondale Bowling Club Ltd. Jonathan Michell was also involved in another of Drever's quick turn-around property sales and yet his above quoted statement was "I would not have purchased or settled had I known the full situation,"
    Plu ca change plus c'est la meme chose!

  9. Post
    #34
    What

  10. Post
    #35
    I had a run-in with Aaron during his agent days. Guy was a slimy ****, but his desire to close out a deal quickly meant I got an absolute bargain. (Had a low offer unexpectedly accepted the day the house went to market - had the option to flip the house for ~300k profit upon settlement, but kept it)
    Last edited by WillAY; 4th March 2019 at 12:22 pm.

  11. Post
    #36
    WillAY wrote:
    I had a run-in with Aaron during his agent days. Guy was a slimy ****, but his desire to close out a deal quickly meant I got an absolute bargain. (Had a low offer unexpectedly accepted the day the house went to market - had the option to flip the house for ~300k profit upon settlement, but kept it)
    In the grand scheme of things he is small fry. I worked in the financial markets sector in London where I witnessed some crazy goings on which made my mouth drop in complete disbelief. One day I going to write a book...but by then it will all be old news.

  12. Post
    #37
    Chillione wrote:
    One day I going to write a book...but by then it will all be old news.
    I'll be your publisher. Just send me $500 by western union to cover the "finders fee" and we'll get started.

  13. Post
    #38
    Chillione wrote:
    In the grand scheme of things he is small fry. I worked in the financial markets sector in London where I witnessed some crazy goings on which made my mouth drop in complete disbelief. One day I going to write a book...but by then it will all be old news.
    I witnessed some real dodgy shit at my old job too, really conflicted with my morals so I broke broke the story to NZherald and figuratively threw eggs at them

    They took out a cease and desist on me lol, so I figured since I got a few shots in I'd comply ~ lawyers are expensive esp if they are QC's!