Dear Editor,
Re: “Real Estate 2.0,” Feature, July 7.
The real estate game needs to be shaken up to change the outdated model of outrageous commission-based selling, which helped fuel the madness of grossly over-priced homes.
It’s a big payoff for little work.
The real estate agents will argue differently, but the reality is that it’s the lawyers and notaries who do the real legal work in real estate transactions.
As one lawyer said, it’s crazy what these real estate people make in commission for the work they do.
Even the B.C. government got fed up with the greedy antics within the real estate business and recently took away its ability to regulate itself.
In a hot real estate market, you don’t really need a middle agent.
Do your homework, don’t be greedy and have a conveyance lawyer or notary lined up to do the legal paperwork.
If you do choose to use an agent, negotiate the commission and don’t forget that there are more real estate agencies offering flat fee or one-per-cent commission selling.
L. Hoi
Richmond
