Reply to How many years until realtors are replaced by Redfin/Uber/Zillow/etc?

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[quote=Anonymous][quote=Anonymous]Overseas realtors only make about 1% on transactions. Sounds like a much more fair number. [/quote]

I am a real estate agent, and I met an agent in London this summer.  She works in an office of 10 agents in central London and does about 30 transactions a year.  She is the lowest performing agent in the office but said she had been in the business only two years.  Most of the agents do 50 to 60 transactions a year.  Back of envelope calculaton is that her office of 10 agents does about 50 transactions per year per agent.

My office of nearly 100 agents did 731 transactions so far this year (I just checked number with my manager).

The London agent is paid a salary a bonus as she does more transactions.  Last year she said she made over 200 pounds -- roughly $350,000.  The bulk of the business in my office is done by me and about five other agents.  The non-performing agents in my office make about $40,000 a year -- average.

This shows what is wrong with our system in the States.  If we had 10 agents -- rather than 100 agents --- the office would do about the same amount of business, but the productivity would be immensely higher.

I have said from my first day of entering this business, pay people and then they will have to work.  The current independent contractor system allows people to waste their time and my company's resources by pretending they are working.  [/quote]

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