Quote:
Originally Posted by bing
You have to take the whole paragraph into account, not isolate one sentence and skip the most important part: that the housing market is skewed in Vancouver and everyone asks for a rebate of 25-50%. Then consider the fact that you may have to use the remaining commission to make the deal work and pay referral fees. Unless you are selling/buying a house, condos do not offer that much commission.
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It is of my opinion that the real estate industry has allowed many people with little real skills/education/knowledge to make obscene amount of money while doing relatively little work. Not only is it little work, it's work that does not really contribute much value.
The main reason for the commissions being so high is because they have a near monopoly on the industry and will do anything to protect it.
A lot of the practices used in the real estate industry would be deemed illegal and the individual would have their licenses revoked if this were say, the financial industry.