Excellent comment Bill. I hope others take some time to read this.

Ok, so the article stated it was 30 years ago when you were in the business, which is why I referred to 1980 data. Apparently it was closer to 40 years ago. But since you have now stated the actual numbers and time frame, it appears that the NDP might have done realtors and home owners a favour by increasing property values, thus increasing the commissions. You actually support my data by your own admission, and even more so. If average salary's were that much lower, then a $2500 commission looked pretty good (I know, split = $1250). Now if you could average more than one house a month, you were still ahead of the average. 2 houses per month and you were a king!

All that aside, property values on average have shot up over 25% on the west coast alone. This what a free market society provides. Sure, we may not be happy with having to pay certain fees, but who are you to dictate how much any occupation should earn? The free enterprise system is alive and well in real estate (otherwise you wouldn't be asking $460k for your house). What if someone told you could only ask a certain amount for your property? I'm sure you would have something to say about that.

It is your choice entirely if you want to use a real estate service, however bashing them is not going to help you in the long run.

The MLS database is not ours to confiscate or control. This is data that has been collected and managed by the CREA organization. I would suggest that the other internet FSBO's are also collecting data as well. I support your choice to use these other services. I also support the realtor's right to negotiate fee's as to what the market forces allow. It can be feast or famine based on the market. Right now it is feast.

I am not a realtor, however I do have some questions and thoughts regarding Mr. Peden's motives and responses.

There isn't any mention of how much the properties were worth 30 years ago, or what the average annual income in 1980 was, however much of this information can be found online. Judging by his stated average commission of $2500, that would make the properties of the day worth anywhere from $35,000-$50,000 (5%-7%). Average salary for a blue collar job was around $18,000 - $22,000. If you were to sell one house per month, you would already be exceeding the average salary. If you sold 2 houses per month, you would be seen as well off, earning twice as much as the average wage earner. I question why you got out of the business?

The commission rate has remained largely unchanged over the years, yet house prices in certain parts of Canada have sky rocketed, allowing for both the home sellers and agents to seemingly make off like bandits. What makes his house 'worth' $460,000? Apparently the market in which he lives. $25,000 commission? Who is doing the math here? At most it would cost ~$17,000 (6% on the first $100,000, 3% on the remainder).

It would appear that this article is lacking in some balance, in that it is seen to be perfectly ok for the home-owner to reap excessive non-justified equity, yet slander anyone else who participates in the process of real estate transactions.

Interest and mortgage rates were fairly static at ~6% from 1994-2004, and property values barely fluctuated as a result. Since 2005, we have seen unprecedented low interest rates, which have resulted in vastly overinflated housing prices in several large cities in Canada. This is entirely due to cheap money and the mainstream media pumping this as if it was part of a sustainable event.

A quick google of this property indicates that it was listed previously with a realtor in December 2009. I have to say that since this property is still on the market, perhaps the worth is over-stated. Perhaps this is also an indication of what is wrong with both the article and the new public perception that we live in a normal economy. Suddenly we feel as if we are owed this. Really? We are going through the worst recession since the 1930's, and we have unprecedented high housing prices, while jobs are being lost across the country.

Methinks a few things are out of whack, least of all the real estate commissions.