It was disappointing to read Ken Payne's (9 July) knee-jerk claim that real estate fees are 'outrageous”. He fails to recognise the advantages of the real estate success fee system.
Firstly, you know how much you will pay right at the start. Secondly, the fee doesn't get any dearer, no matter how long it takes to sell the property. Thirdly, if the agent doesn't sell the property you pay nothing, no matter how much work has been done. Compare this with legal fees. You have no idea how big the bill will be, the more work the lawyer does the bigger the bill, and you will be sent the bill even if it is c/o NZ Prison Services.
Richard Prince, Welcome Bay.