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BrightLuchr t1_isc91ay wrote

There are over 100,000 Realtors in Canada. The cost to obtain and maintain a license is not that much.

>Industry needs better oversight, expert says

Obviously! RECO does not do a good job at oversight. But the better question is why does the Real Estate profession even exist in the modern age? They don't provide much service for the enormous fee they charge.

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Chachilicious t1_iscdz6e wrote

Very this. I don't need a realtor to show me houses anymore. I can see them all for myself ina list after a cursory search

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BrightLuchr t1_ischi20 wrote

Let's make it more upsetting: Consider that if a buyer is also a realtor, they get to self-schedule a showing and wander around your house unescorted without an agent. I had this happen to me. Did I mention there are a hundred thousand freakin' realtors in this country?

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Aduialion t1_isdve5k wrote

Oftentimes it doesn't feel like there are even 100000 Canadians in general

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Helenium_autumnale t1_ise4966 wrote

It's a holdover from the pre-Internet age, like travel agents. We don't need them. They're parasites who often know nothing about the properties they're showing (in my recent experience; my middling research found a problematic sewer field though the house salesman had no idea where it was located) who nevertheless want to siphon off some money. Useless people.

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BrownienMotion t1_iseihmn wrote

Imo there is a huge conflict of interest, the selling realtor is supposed to represent the buyer but is compensated by the buyer paying more money.

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MutantMartian t1_isez2a6 wrote

The agent for the buyer is representing the buyer but is compensated more by the buyer spending more money. I think that’s what you meant. This is why they don’t negotiate.

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BrownienMotion t1_isf2e2n wrote

In my state, the agent representing the buyer is technically called the "selling agent", whereas the seller's agent is the "listing agent". Most people probably refer to them as buyer/seller's agent, but I think it's important to make the emphasis that the selling agent (representing buyer) is trying to sell them properties.

Source: I thought the system was broken so I got a real estate license and found out it was even worse than I had thought.

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superkleenex t1_isdttfk wrote

I will argue that as a seller, I’m not letting someone in my house that isn’t being escorted by a licensed realtor. I’m not going to let random strangers into my house without someone that I can call up afterwards if something got damaged.

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PositionParticular99 t1_isen1av wrote

A license makes no difference. I was selling a house last year, not my first time around. I had NEVER met a buyer or seller until closing before. Buying you make an appointment and the seller is gone somewhere. As a seller, you are not home when people come looking.

I had a realtor and buyers just walk in one day, zero notice, didn't knock, didn't use the lock box. And I would think a licensed agent call my realtor and say hey that guy was home. Never said a word.

The next buyer I spent an hour trying to avoid politics as they asked question after question at the showing. Another who just showed up at least they did knock. They were hard core Trump people, looking for a red town with even fewer regulations than the red town they live in. Made an offer then found an excuse to back out, far to overextended to buy it. A 100% VA loan, zero room for any problems.

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cg_krab t1_iseysq2 wrote

Then hire an escort for $20/hr, instead of for 4% of the equity in your home.

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