PHOTO: MARION VAN DIJK/STUFF – New players have entered the market, offering cheaper commission structures, but the big guns hold tight to their market share.
Imagine you’re about to pay for a service and you’re asked: Would you like to spend $31,625 on this deal? Or would you rather $13,800?
Put like that you’re probably wondering who the sucker is who’s opting to pay the higher amount.
But every day, New Zealanders choose to spend more to sell their houses – in this case that $31,625 was the commission calculated on a median-priced Auckland house sold by Bayleys – rather than take the cheaper option – in this example, a 1.5 per cent plus GST-model agency.
And many people say that’s actually not a terrible move.
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