Hey, commercial real estate brokers? Keep your compensation a secret, even from your own clients. They don’t know how much you make, they’re too dumb to figure it out, and if you don’t bring it up they won’t think about it. Now, really!
In most commercial real estate leasing transactions, commercial brokers representing tenants receive their compensation in the form of commissions paid by landlords. Yep, that sure sounds like a conflict-of-interest to me! But, unfortunately, that’s the way the industry works.
Hi Hanif,
Underneath all the sarcasm, I think you are right. Your post reflects anger which I think is because of some recent incident which also rankles in your post. Unfortunately though, this is a very common practice which should be discouraged.
One of the ways to avoid getting into a situation like this is to decide upon a commission percentage with your brokerage agency before hiring their services. Being forthright pays and it pays well both to the landlord and the agency in the long run.
Pakistan real estate industry is still evolving in the sense that there is a lot that needs to be done in terms of law making, execution and implementation of those laws. We can learn from the example of UAE or Dubai to be more specific and need to device neutral laws which benefit both the buyers/sellers and professionals brokers.
@ hanif like nafees said your post surely is reflecting anger, i would love to add rage instead anger and a degree of huge dis satisfaction about money.. Try to help others this is more important than over flowing your own pockets.
Brother no hard feelings but this is not for sure decent..
Peace
To be honest, most people that are in the real estate game know about the commission anyway so its no secret to be honest! But like nafees and fahad have pointed out, no point getting cursed and badwa of people, you rather be honest and earn an honest living which will put blessings / barakat in your money!
Guys, the original post, afaik is related to ordinary customers and not ‘in the game’ people and also highlights an important conflict-of-interest scenario without it being addressed enough and the last two replies further elaborate the hush-hush culture. And i also think one should be able to take sarcasm just like criticism but i could be biased 