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10,000 Australian Real Estate Agents Leave the Industry; Financial Review
Topic Started: 3 Jun 2011, 11:12 AM (9,614 Views)
Simon the likeable
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Christine Sutherland
20 Feb 2012, 07:03 PM
it's completely unfair to denigrate the profession.

Have you ever done business with them Christine ?
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NotFooled
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The Bear Whisperer

Christine Sutherland
20 Feb 2012, 07:03 PM
I think it's a rotten industry, but not because of the people, who are in generally incredibly ethical, skilled, and hard working.
Not in my experience, at least in Sydney.
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Simon the likeable
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NotFooled
20 Feb 2012, 07:47 PM
Not in my experience, at least in Sydney.
Ditto..... :D
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Enrico Palazzo
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They can alway go out to the mines and earn 100k plus!
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earthsta
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Enrico Palazzo
20 Feb 2012, 07:59 PM
They can alway go out to the mines and earn 100k plus!
Exactly

They just have to leave the city behind.

You tell 'em Franky and Nasty
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themoops
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Enrico Palazzo
20 Feb 2012, 07:59 PM
They can alway go out to the mines and earn 100k plus!
You need some sort of tradie skill to do that.

They should be flipping burgers at Hungry Jacks.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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Rastus2
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Christine Sutherland
20 Feb 2012, 07:03 PM
I read this article just over 6 months ago and of course it's completely unfair to denigrate the profession. This is a sector that's been particularly hard-hit by the GFC and is still reeling to this day, with agencies closing their doors or being taken over, and agents still leaving in droves.

Few people are making money in real estate at the moment.

Once excellent agent I know sold over $1 million last month and made nearly $10,000 from that, but then had to pay back 6 months' of fees and charges. She was on the leaderboard at her office and yet she's made less than $1,000 a month for all the blood, sweat and tears.

It is definitely not easy being an agent. The detail that must be attended to, the regulatory responsibilities, and the plain nastiness of dealing with some people who are out to rip off the seller if they possibly can, makes it a very stressful job. Add to that the ridiculous hours they're expected to work and you have a role so unattractive that it's a wonder anyone would take it on.

My agent friend quit her job last week because she's making more in her own little part-time business than she ever did working her gizzards out in real estate, and no-one's into her paycheck for fees and charges.

I think it's a rotten industry, but not because of the people, who are in generally incredibly ethical, skilled, and hard working. I sympathise with anyone stuck in a real estate job, including agency principals.
Normally I would feel pity for people who are down on their luck.

This empathy is extended to REA's, but not a great deal of empathy available I'm afraid.

There are just too many other people who have lost their jobs to offer a great deal to the REA's as well.

Many REA's I have dealt with were nice enough. That does not mean they automatiaclly deserved to earn a massive income. Their services are over priced and when it became obvious when the REA industry was booming, far too many people flooded into the business hoping to make their fortune with great commissions on large volumes of turnover.

This is a new era, and perhaps, it's time for REA's to have a far lower income more commensurate with the work and training required to actually do the job.

I know of people who work really long hours as nurses saving lives and get paid rubbish money compared to many REA's that I met. Who is to say the REA's deserved more money than the nurses just because they could close a sale ?

Edited by Rastus2, 20 Feb 2012, 09:38 PM.
Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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Downer
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Enrico Palazzo
20 Feb 2012, 07:59 PM
They can alway go out to the mines and earn 100k plus!
Common myth.

Its actually very hard to get a mining job with zero skills in the industry.
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kennyjaiz
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Christine Sutherland
20 Feb 2012, 07:03 PM
I read this article just over 6 months ago and of course it's completely unfair to denigrate the profession. This is a sector that's been particularly hard-hit by the GFC and is still reeling to this day, with agencies closing their doors or being taken over, and agents still leaving in droves.

Few people are making money in real estate at the moment.

Once excellent agent I know sold over $1 million last month and made nearly $10,000 from that, but then had to pay back 6 months' of fees and charges. She was on the leaderboard at her office and yet she's made less than $1,000 a month for all the blood, sweat and tears.

It is definitely not easy being an agent. The detail that must be attended to, the regulatory responsibilities, and the plain nastiness of dealing with some people who are out to rip off the seller if they possibly can, makes it a very stressful job. Add to that the ridiculous hours they're expected to work and you have a role so unattractive that it's a wonder anyone would take it on.

My agent friend quit her job last week because she's making more in her own little part-time business than she ever did working her gizzards out in real estate, and no-one's into her paycheck for fees and charges.

I think it's a rotten industry, but not because of the people, who are in generally incredibly ethical, skilled, and hard working. I sympathise with anyone stuck in a real estate job, including agency principals.
I'm sure there are those in the industry, but they are few and far between. I have only met one in the last seven years (one that I can hold my hand on my heart and recommend to my friends/family), but unfortunately he is based in the regional area.

I went to a musical comedy called the "Urban Display Suite" last month, by the Melbourne Theatre Company. They summed up the profession nicely - "it's a white collar job for the blue collar brain".

The industry doesn't attract talents - compounded by the culture of the industry - which uses information asymmetry and scare tactics as negotiation mechanism.

The incredibly ethical, skilled and hard working agents you mentioned, will do okay.
Edited by kennyjaiz, 21 Feb 2012, 10:40 AM.
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Admin
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Quote:
 
Jobs slashed as industry struggles to hit targets

May 16, 2012

THE real estate sector is in the grip of a white collar crisis - more than 200 workers have been made redundant across the industry as deals collapse and development projects dwindle.

Job losses are tipped to swell as companies look to cut costs to reach earnings forecasts. it is affecting not only back office staff but finance directors and senior management. Even chief executives are being forced to take pay cuts and work under tighter incentive pay regimes.

The trigger has been the reduction in large transactions and the weak conditions in construction and residential development.

Because many of the staff have been given redundancy packages they are unlikely to be eligible for government benefits so the numbers will not appear in the national employment statistics.

Recruiters say this is worrying as it will send a false message that the economy is performing better than it really is.

Read more: http://www.smh.com.au/business/jobs-slashed-as-industry-struggles-to-hit-targets-20120515-1yp2b.html#ixzz1uyqM9iLV
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