Colliers waives investment transaction fee

Colliers International, the leading real estate services company said it would no longer charge fees both from vendors and buyers in a transaction with a commercial property, but from one side.
“Accepting commissions from both parties involved in a certain transaction sets up a severe conflict of interest. When a broker, hired by the owner of a commercial property to find suitable buyers, accepts that his client (the party who is paying his commission) is therefore the vendor - this should prohibit the acceptance of further commission from buyer’s side”, said Blake Horsley, Manager of Investment Division within Colliers International Romania.

There are cases, Horsley continued, where one is representing both the vendors and buyer exclusively, but when these situations arise, a broker needs to discuss the position with both parties and decide for whom they will act.

“This is common practice in developed markets such as the US and UK and is a step in the right direction to ensure that Romania develops ethically and will help ameliorate beliefs from the west that some Eastern European markets are unethical”, Colliers consultant added.

Colliers, announcement refers solely to transactions with commercial properties. A similar proposition for office space was discussed at the Realty Forum event, organized at the end of October. Tim Wilkinson, chief executive of DTZ Echinox, said in the office market, many brokers charge both vendors and buyers in an office rent transaction.

As of this fall, Blake Horsley assumed the role of manager of Office Division at Colliers while continuing with his responsibilities at the Investment Division of Colliers. The company reported net profit of €2.7 million in 2008, 62.3% below year-ago level and a turnover of €17.7 million, down 16.6% from a year earlier.

Despre autor este un cotidian de business fondat în 2005, parte a grupului InternetCorp, unul dintre cei mai mari jucători din industria românească de publishing online. Pe parcursul celor peste 15 ani de prezență pe piața media, ne-am propus să fim o sursă de inspirație pentru mediul de business, dar și un canal de educație pentru pentru celelalte categorii de public interesate de zona economico-financiară. În plus, are o experiență de 10 ani în organizarea de evenimente B2B, timp în care a susținut peste 100 de conferințe pe domenii precum Ecommerce, banking, retail, pharma&sănătate sau imobiliare. Astfel, am reușit să avem o acoperire completă - online și offline - pentru tot ce înseamnă business-ul de calitate.

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