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Agents urged to re-look at their cost

January 14, 2021 6:35 am
Real Estate agents have been urged to re-look at their costs due to a decrease in commissions from sales. [File Photo]

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.

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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.

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