Daily Archives: September 22, 2009

Is $47,000 commission a fair amount?

We’ve spoken about this before…..but Radio Live’s interview just after noon today, was it already biased?

Barfoots want their $47,000 commission. The radio DJ wants a story!

After lunch today, I wanted to post this before but business got in the way, I’ve just got home at 5.16pm……so this is my first real chance.

The host at noon, a lass……was baiting Olly Newland with questions like…..

How come Real Estate Agents can get away with charging so much , and a couple of seconds later the word astronomical was dropped into the conversation too.

Credit to Olly for keeping to his points….it would have been just “fab” copy for her to get him…….as it were, “on paper” saying some comments on the commission issue, and candidly it wouldn’t have mattered what he said, so that they could then construe any which way.

The deal.

Our fellow NZ Realtors (all 150 offices and over 2000 salespeople NZ wide) partner, Barfoots in Auckland, are claiming a client has decided not to pay their “job completed” commission.

The fact that the Real Estate person/company has done their job, not only secured a contract / agreement,  because at that time both parties agreed, as the “pen was hovering” so to speak……….then later went unconditional?………but it would seem there must have been a hiccup later on, before settlement.

This is hearsay – because Barfoots are at this stage – noon today, according to the Radio Live report, are not confirming (Radio Live could not get anyone from the company to comment today) if the property has sold unconditionally or not.

However at this stage I will be surprised if Sainsbury sans, or his competitors (maybe Campbell Live) don’t jump on this, and skew it completely out of context.

She, the Radio Live interviewer was today all about “$47000” – & “in NZ we charge so much commission” – their was no mention of the price of the house / how long it had been marketed, etc.

Credit to Ollie, who in trying to give balance to the interview, mentioned to the interviewer that in fact, here in NZ we are completely 100% commission paid…………. and by comparison our cousins across the ditch, in general get a retainer and then a smaller overall commission percentage on top of that.

However I’m sure by the time this gets reported tonight or in the am, this rather important fact may be left out.

How much commission do we charge – perhaps the radio lass should have read this.

Maybe I have a fact or two wrong…..but I’m trying to get this out before those TV guys goes overboard on it.  Don’t forget though, in just about every case there are always two sides to a story. Barfoots have been around in Akld for over 100yrs and for them to take the step of chasing an amount of $$$ publically, I feel there’s a bit more to this story than we already know, after all this is the 1st case like this I have heard in recent years.

UPDATE – 8:09pm I’m surprised that CloseUp or Campbell didn’t go with this……for once it seems there was a bit of other news around…….however I’m patient and lets see what happens in the next day or two.

UPDATE – relevant NZ Herald article looks like it must have started this as it has a time-stamp of 10:19am Tuesday Sep 22, 2009

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