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newcitizen 10 years, 5 months ago on BREA chief targets 50% sales ‘haemorrhage’ end

BREA chief targets 50% sales ‘haemorrhage’ end

So the agents are blaming VAT for raising the cost? It only raises the cost of the agents fees, the lawyers fees, and the appraisal and the rest is still the same 10% total. So that means you add 7.5% to 6% (real estate fee) 2% (legal fee) and 1% (appraisal and bank charges), which means you add 7.5% of 10.5% which amounts to 0.78% of the total price. Maybe they should be looking at other things, like lowering the real estate commission which is 4% in Canada and most of the US. Or maybe it's the fact that these real estate agents are telling sellers that their property is worth more than it is. Failure to manage the expectations of the seller leads to homes staying on the market because they are priced way to high.