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1.Market Observations, 8.Was Sticky

4 Feb 2017 (AFR) – Real estate agents cut rates to win work – ‘Stock-starved’ agents halve commissions

(4 February 2017, AFR, p3, by Michael Bleby)

‘Real estate agents down the east coast are slashing commissions to win business as listings dry up. The pressure on firms in an already slowing market, with listings down 9 per cent, has been compounded by the arrival of new agencies that are offering increased commissions to lure staff and was likely to lead to an end-of-cycle shakeout as firms cut staff to rein in costs, industry veteran Charles Tarbey said.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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