Top agent slams 'absurd' pricing

Top agent slams 'absurd' pricing

17 July 2014 by Andrew Jennings 13 comments

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.


promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
William Phillips on how agents can expand their database and grow their business

In this episode of Secrets of the Top 100 Agents, host Tim Neary is joined again by William Phillips to discuss the real estate database and...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?