I have just spent an amazing five days at Real Estate Connect. I'm sitting in the lobby of the Palace Hotel with Glyn Morgan who is the CEO of Professionals Group--a 325 office real estate company based in Austral-Asia. Glyn has love the conference. I asked him what the biggest differences are between Australian real estate and U. S. real estate.
Glyn says, "The biggest is in the commission structure. An agent in Australia earns on average 2.4 percent (that's for both side of the deal!)
Because there is no multiple listing service, you own the entire transaction."
So the bottom line, they make about as much as we do, but have to manage both sides.
I'll be going to Australia and New Zealand later this month--look for more posts about what's happening down under.