$90K commission offered on OTP apartments

Discussion in 'Property Market Economics' started by Oliver Shane, 14th Aug, 2019.

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  1. Oliver Shane

    Oliver Shane Well-Known Member

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    Oliver Shane, 14th Aug, 2019
    #1
  2. TMNT

    TMNT Well-Known Member

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    its behind a paywall

    Can only read the first 7 lines
     
    TMNT, 14th Aug, 2019
    #2
  3. turk

    turk Well-Known Member

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    @Oliver Shane, as you know so much is that net or gross and how does the current rate compare to 2-3 years ago?
     
    Last edited: 14th Aug, 2019
    turk, 14th Aug, 2019
    #3
  4. Scott No Mates

    Scott No Mates Well-Known Member

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    I recall up to 15% being offered before all this malarchy of a construction boom was even an issue. This is standard fare for an agent who introduces a party who goes on to complete the transaction.
     
    Scott No Mates, 14th Aug, 2019
    #4
  5. rhinsor

    rhinsor Well-Known Member

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    Disable your browsers javascript
     
    rhinsor, 14th Aug, 2019
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  6. Oliver Shane

    Oliver Shane Well-Known Member

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    Really so an extra $150K on a $1m property was paid to an agent. Wow so much fat to be cut out of market...

    I don’t know of any other industry with such huge (and undisclosed) commission structures.
     
    Oliver Shane, 15th Aug, 2019
    #6
  7. Scott No Mates

    Scott No Mates Well-Known Member

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    Not extra, the vendor pays the commission. Why do you think OTP resale values show very little growth, if any, for several years unless you have bought before an upturn.

    The vendor is fully aware of the commission to be paid, so it's not undisclosed it's contractual and the buyer is not privy to that contract.[/QUOTE]
     
    Scott No Mates, 15th Aug, 2019
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  8. turk

    turk Well-Known Member

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    @Oliver Shane, you have started a thread telling us how much you know but have only shown how little you know, still waiting for your answers to questions I asked.

    i.e. are the commissions net or gross and how does the current rate compared to 2-3 years ago?
     
    turk, 15th Aug, 2019
    #8
  9. marty998

    marty998 Well-Known Member

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    How does one become an agent? Asking for a friend....
     
    marty998, 16th Aug, 2019
    #9
    craigc and Someguy like this.
  10. Oliver Shane

    Oliver Shane Well-Known Member

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    Haha indeed. RE agency fees and commissions have to be the last big rort...
     
    Oliver Shane, 17th Aug, 2019
    #10
  11. Scott No Mates

    Scott No Mates Well-Known Member

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    Do a 3 subject course online, get a certificate, a teledex full of contacts, build some trust with your networks...
     
    Scott No Mates, 17th Aug, 2019
    #11
  12. Oliver Shane

    Oliver Shane Well-Known Member

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    Register on Property chat. Continually talk up the property market regardless of cycle / market conditions :)
     
    Oliver Shane, 19th Aug, 2019
    #12
  13. JQ88

    JQ88 Well-Known Member

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    ...or maybe sold 2/3 of my properties a tad early in 2015/2016.... down play the market..cut n paste every bit of negative news about sydney...let's start with pchat first until I get bear in the room...then buy buy buy

    Edit: forgot the smiley face :)
     
    JQ88, 19th Aug, 2019
    #13
  14. Oliver Shane

    Oliver Shane Well-Known Member

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    Oh no I’m stoked to have sold down most of my properties near the peak!

    Besides my bigger plays are all on listed investments :)

    I’ll let you know when I’m buying again in sydney. and i’ll give you a tip for free.. not anytime soon :)
     
    Oliver Shane, 19th Aug, 2019
    #14