4 ms·

These are very popular laws in the US with every state having some level of certification requirement for certain professions. https://en.wikipedia.org/wiki/Re

These are very popular laws in the US with every state having some level of certification requirement for certain professions. https://en.wikipedia.org/wiki/Regulation_and_licensure_in_engineering#United_States https://en.wikipedia.org/wiki/Regulation_and_licensure_in_en...

walshemj 9y ago
Including FFS Estate Agents (Relators)
- deleted 9y ago
  [deleted]
- jhayward 9y ago
  > Including FFS Estate Agents (Relators) Yes, because before regulation buying and selling real estate was rife with scams, ripoffs, blatantly false advertising, and misapropriation. These regulations don't come out of nowhere. I know that there is some residual teenage rebellion against rules, and there is without a doubt some downside and friction associated with imperfect regulation and enforcement. The alternative, though, is not better than the present. We really do not want to live in the completely unregulated society that many tech-lad libertarians think would be Nirvana. It would be, instead, the hell we got rid of.
  - walshemj 9y ago
    we don't have those problems in the UK where Estate Agents are not regulated and fixed fees ala purple bricks are getting popular
    - jhayward 9y ago
      That's an interesting observation. I do wonder if there isn't some congruent regulatory mechanism keeping things in line. Out of curiosity, what would a typical set of transaction fees be for buying and selling a property? In my area (US/TX) it is nominally a 3% fee to the agent plus no more than 2% of the transaction for all other costs including financing, title insurance, etc.
      - walshemj 9y ago
        Between 1.3 and 1.8 % plus VAT at 20% plus £400/500 for a survey. Other costs vary by what mortgage you get but I add 1 to 2K. Plus stamp duty You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000. seems high but property taxes are tiny when compared to the USA

walshemj 9y ago

Including FFS Estate Agents (Relators)

deleted 9y ago
[deleted]
jhayward 9y ago
> Including FFS Estate Agents (Relators) Yes, because before regulation buying and selling real estate was rife with scams, ripoffs, blatantly false advertising, and misapropriation. These regulations don't come out of nowhere. I know that there is some residual teenage rebellion against rules, and there is without a doubt some downside and friction associated with imperfect regulation and enforcement. The alternative, though, is not better than the present. We really do not want to live in the completely unregulated society that many tech-lad libertarians think would be Nirvana. It would be, instead, the hell we got rid of.
- walshemj 9y ago
  we don't have those problems in the UK where Estate Agents are not regulated and fixed fees ala purple bricks are getting popular
  - jhayward 9y ago
    That's an interesting observation. I do wonder if there isn't some congruent regulatory mechanism keeping things in line. Out of curiosity, what would a typical set of transaction fees be for buying and selling a property? In my area (US/TX) it is nominally a 3% fee to the agent plus no more than 2% of the transaction for all other costs including financing, title insurance, etc.
    - walshemj 9y ago
      Between 1.3 and 1.8 % plus VAT at 20% plus £400/500 for a survey. Other costs vary by what mortgage you get but I add 1 to 2K. Plus stamp duty You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000. seems high but property taxes are tiny when compared to the USA