Cooling market highlights quality of flat fee agents: REINSW

  • Written by Helen Hull


Consumers are at risk of not achieving the best price for their property if they use the services of companies that charge an upfront fee, according to the Real Estate Institute of New South Wales.

REINSW President Leanne Pilkington said with the cooling market consumers are at risk of paying even when their property does not sell.

“There had been a lot of press surrounding companies that offer a flat fee upfront to sell a consumer’s home rather than the traditional commission model,” she said.

“There is
no motivation or incentive for these agents to take a professional approach in achieving the best possible result as they have already been paid regardless of the outcome,” she said.

Ms Pilkington said
in buoyant markets upfront fees are attractive to consumers seeking to save money but they are not significantly tested because of the high demand and low supply.

“As the peak body REINSW is therefore concerned for sellers in this changing market who are vulnerable to such low cost high risk strategies that have the potential to leave them in the lurch. 


“We encourage consumers to explore a full range of options when it comes to selling their most valuable asset: don’t just go for the lowest cost option as the risks are too high if you get it wrong. Never take anything on face value, do your research and ensure that you are making the best decision.

“As the market cools the true value of an experienced real estate professional can really be seen,” Ms Pilkington said.
The Conversation

NEWS

rejecting neoliberalism shouldn't mean giving up on social liberalism

shutterstockRichard Denniss’s Quarterly Essay, “Dead Right: How Neoliberalism Ate Itself and What Comes Next”, is a thought-provoking call to arms against an array of perceived ills – economic rationalism, market...

How the Anglican Church has hardened its stance against same-sex marriage

In the aftermath of the legalising of same-sex marriage in Australia, the Anglican Church has ramped up its discrimination against gay people to new heights.Not content simply with the discrimination...

Creating research value needs more than just science – arts, humanities, social sciences can help

Actually yes, science and the arts do work together. from www.shutterstock.com This week we’re launching Making science for people, a series of articles that explores how humanities, arts and social...

Patriarchs on pedestals? How doctors are taught to improve their bedside manner

Student doctors need good role models to learn good patient communication. from www.shutterstock.comUp until around 30 years ago, in the days of paper patient files, doctors were on pedestals and...

apartments are Australia at its most multicultural

Areas with higher-density apartment living, such as Rhodes in Sydney, are home to many overseas-born residents.Marcus Jaaske/ShutterstockIncreasing numbers of city dwellers live in apartments. This is particularly the case for...

the unmissable films of Sydney Film Festival

Adam Driver and John David Washington in Spike Lee's BlackKkKlansmanProduction Co: 40 Acres & A Mule Filmworks, Blumhouse Productions, Legendary Entertainment We queued up for hours on George Street, suffered...

Australia must embrace transformation for a sustainable future

Judy van der Velden/Flickr, CC BY-NCLast Friday, the Australian government released its first report on our progress towards meeting the United Nations’ Sustainable Development Goals by 2030. These 17 goals...

Clive Palmer's back on the trail, with Brian Burston in tow

Surely Clive Palmer is one souffle unlikely to rise twice – although predictions are hazardous when we’re talking about a man dedicated to buying votes.It beggars belief that Palmer, discredited...

Bees get stressed at work too (and it might be causing colony collapse)

Ever been overworked, tired and felt muddle-headed? Research now shows honey bees suffer from the same thing – and we understand why.A honey bee’s life is hardly relaxing. Every...

you don't know who else could be watching

A spotted-tailed Quoll detected during a small mammal survey at Carrai Plateau, New South Wales.Paul Meek, Author providedWe use remotely activated cameras – known as camera traps – to study...

Why stereotypes of sexy women fans persist at the World Cup

This article is part of a World Cup series exploring the politics, economics, science and social issues behind the world’s most popular sports event.Globally, women’s football fandom is on the...

should healthy people take probiotic supplements?

If you eat a healthy diet, it's probably not worth it.Shutterstock/Koldunov AlexeyA visit to the supermarket these days can feel more like walking through a pharmacy, with an ever-expanding range...

Why your local supermarket is getting smaller

Woolworths has already announced it will open more smaller stores. ShutterstockIf you think your local supermarket is shrinking, you might be right.Coles has announced that it will open smaller-sized supermarkets...

Greer is right to say rape law has failings, but wrong to suggest its decriminalisation

Among other things, Greer’s dismissal of "harm" also illustrates how misconceptions about rape inhibit prosecution.Flickr/walnut whippetGermaine Greer is a provocateur of long standing. Her recent comments about rape enhance that...

Technology is both a weapon and a shield for those experiencing domestic violence

Safety cards that allow victims to press a button to alert a 24/7 call centre have proved successful in protecting victims from further abuse. Mavis Wong/The Conversation NY-BD-CCWith growing recognition...

Hobart's poorer suburbs are missing out on the 'MONA effect'

Most of MONA's interstate visitors go to the museum without stopping in the nearby suburbs. Mark Pegrum/FlickrPopular opinion has it that MONA, Hobart’s Museum of Old and New Art, is...

To design safer parks for women, city planners must listen to their stories

The rape and murder of aspiring comedian Eurydice Dixon in an inner-city Melbourne park – while deeply shocking – is part of an avalanche of gendered violence perpetrated against women...

Transgender kids get their own health-care guidelines

Not all transgender people will seek health care, but the ones who do need to feel supported.from www.shutterstock.comToday the first guidelines specific to the health-care needs of transgender and gender...

China and India’s border dispute is a slow-moving environmental disaster

Development is peaking in the high country between India and China.Vinay Vaars/Wikimedia Commons, CC BY-SAChinese and Indian competition on their shared Himalayan border is more likely to create a slow-moving...

Three issues language proficiency can hide for students from non-English speaking backgrounds

Learning difficulties or challenges such as dyslexia or Autism Spectrum Disorder may be masked by language ability for students from non-English speaking backgrounds.ShutterstockUniversities have increasingly diverse student bodies, bringing together...

Popular articles from Modern Australian

Winterfy Your Garden In Time For SpringDredging works underway Plantation IslandTop 5 Tips for Traveling With Dogs My Health YogaFind the best film location agencies and hire professionalsMorning greens: the breakfast skincare regimeAvoid These 4 Most Irresponsible Ways of Flying of DronesHow is recruitment being affected by automation?Fit Body 101 - Increase Your Fitness Effectiveness The World of Dentistry: 5 Most Common Dental Procedures in AustraliaCarpet cleaning:  Things you need to knowHow Should You Procure A Tender?6 Things You Need Before Your Home Renovation Begins Get The Look: How to build a beautiful weatherboard home5 Lucrative Ideas for an Australian Startup in 2018