Confidence amongst many overseas property agents is at a low in regards to receiving their commission from property developers. The problem of agents not getting paid has only worsened with the current financial crisis. Developers and promoters don’t always pay on time, and some don’t pay at all. Now there appears to be an answer that could help confidence grow amongst real estate agents and developers.
Colin Barrett-Treen, CEO of Bairead Consulting, has launched a new service called Commission Secure, ( www.commissionsecure.com) which aims to make sure that agents are paid their fees in a timely manner. Barrett-Treen believes that Commission Secure could be a vital element in achieving the necessary success for agents, developers and promoters.
“I believe that the time has come where we have to draw a line under the problem of commission payment security,” said Barrett-Treen. “No-one should have to suffer the hardship of not getting paid for the work they have done. When agents are negotiating to sell a product with one of their developer partners in the future, I urge them to ask them the question, “Is your commission secure?” If it isn’t, then maybe they need to know about Commission Secure!”
Nicholas Marr from Overseas property portal Homesgofast.com is enthusiastic about this new program, stating that “Agents work hard for their commissions when they sell a property, but they don’t always get their money in a timely fashion, or at all. This could help with agents confidence when deciding who to work, it also serves to be a great concept for developers wishing to boost their marketing efforts.”