[Bill Douglas]

I like good real estate agents. Here in NZ we don't really have buyers agents. A good agent holds his nerve and wrings more out of the buyer, without losing the buyer. Bad ones are worse than useless.

Although I've bought and sold more than a dozen properties I can't remember what percentage the commission to them is. Guessing, for a million dollar house it would be 40 or 50 grand. Maybe a bit less.

Once the deal is made, the buyer pays a 10% deposit that is held in trust by the real estate companies lawyer. Then at the time of final settlement the real estate person gets their commission. Again guessing, but I think the real estate company get half the commission and the agent gets the other half. Maybe the agent gets a bit more.

the last house I sold I thought wow, grabbing for the document to say SOLD. But the agent said hold yer horses mate, and come back in a couple of hours. He told the excited prospective buyers "You are almost there, would you like to increase your offer?" I think he got me an extra 50k that more than paid for his commission.