Top agent slams 'absurd' pricing

One of the country's best real estate agents has weighed into the debate about listings fees, describing the REA Group's rising advertising rates as "greed in the purest form".

James Tostevin, who was the number one ranked agent in the 2013 REB Top 100 Agents, told Real Estate Business that the price increases are "nothing short of outrageous".

"I think they’re absurd," said the Marshall White director. "I think the expectation is that vendors, and agents working on the vendor's behalf, will effectively keep paying and paying more and more money.

"I guess they’re [REA Group] doing it because everyone knows how important the internet is,” he added.

Mr Tostevin said that if you look at what the internet cost the average consumer or vendor as little as three four years ago, the price increases in that time have been "absolutely insane".

"I’m aware the price increases have been dramatic, but it really goes beyond being dramatic, it’s greed," he said.

"Vendors are naturally interested in what is going to get them their best outcome, but they should also know about what is fair and reasonable," added Mr Tostevin.


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