Agents urged to re-look at their cost
Real Estate agents have been urged to re-look at their costs due to a decrease in commissions from sales.
Real Estate Agents Licensing Board Chair Dr Abdul Hassan says because of a decline in property prices, commissions have dropped.
Dr Hassan says they have recorded few sales in the last 6 months.
He adds the agents are facing some challenges in terms of finding buyers as owners are not willing to negotiate the prices.
“There is a drop in the sales of properties and properties which are less than $500,000 have been sold in recent months. Above $500,000 the owners are facing difficulties in getting buyers at that price.”
Dr Hassan says agents can diversify into other areas while staying active in the real estate sector.
Credit: FBC
Date: 14/1/2021
