?? it's built into the asking price for the house silly. |
Is it though? If you sold your home without an agent, would you price it at 3 percent less? |
The only thing that will happen if you untie the two fees is that buyers will lose free representation, and sellers will keep 2-3 percent more profit. |
Are Redfin houses sold cheaper than comps? No. So, no. Prices would not come down a few points. Y’all are delulu. |
What is meant by “overall analysis”, “this whole thing”? The pending NAR lawsuits and anti-trust action by the DOJ/FTC, I assume. Your post does not specify exactly.
Your overall concern seems to be the outcome that anti-trust litigation – prohibiting realtor fee “tying”, “steering” regulation, etc.. - will have on builders of homes and some buyers of new construction, buyers who require agents but cannot afford their services. But if the current real estate practices violate anti-trust law, is the remedy to ignore regulations designed to promote competition and drive down consumer prices because the prosperity of the building industry depends on them being ignored? ( No if you are pro-consumer and pro-rule-of-law; Yes if you are pro-building industry ) The subset of buyers who require buying agents but cannot afford them will choose more affordable living alternatives. That mat not be ideal for the building industry, but that is a them problem; I’m confident the US construction industry would adjust to equilibrium and substitution effects. Many countries do not have the real estate arrangements presently under scrutiny in the United States. As I understand, they build homes. They buy and sell homes, often at roughly half the commission cost. Those who cannot afford to purchase a home have the option to lease. |
Provided they use Zillow: Real Estate Attorney (simple transaction): $500 to $2,000 Real Estate Attorney (complex transaction): $5,000 to $14,000 Buyers Agent: 500,000 x 2.5% = $12,500 Buyers Agent: 1,000,000 x 2.5% = $25,000 So, the buyer(s) budget would be reduced by approximately $4,000/$10,000. Many factors but we're ballparking here. It's not nothing. It's also not market changing. Long term effects of untying fees have market changing potential. |
Only 8% of realtors never went to college. https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics |
It’s not even about education. It’s about earning a years salary for most people in a weekend. Absurd. |
They're real estate agents, not hedge fund managers. |
Such BS. Then why don't you encourage your kids to all become realtors? Because you probably implicitly understand that that is not true - it takes lots of dedication and tenacity to make it in sales; there is a cyclical nature to the job; etc. Occasionally, you'll get some easy sales over time, just like you'll have customers who will want you to show houses for six months and then decide to stay in their current home. The easiest way to make money on a risk-adjusted basis is probably what you recommend to your kids (STEM, medicine, law, etc.). So let's get off the unjustified complaints of excessive profits especially because, as others have noted, you don't even need to use a realtor if you don't want to (or you can use a discount broker). |
This is a moronic comment. Become an agent already if you are so envious. |
Average American annual salary is $60,000. In an area where a teardown costs $1 million, there are lots of sales where the broker is getting more than that. Shakedown. Total scam. Houses here practically sell themselves. |
Compensation in the rest of the world: In some parts of the world, total commissions for each sale are significantly lower – around 2% in countries like Australia and the UK. https://www.bloomberg.com/news/articles/2023-10-16/us-realtors-lucrative-fee-system-faces-mounting-antitrust-risk?embedded-checkout=true |
You mean Genocide Joe? |
Someone explain how this response relates to DOJ anti-trust litigation. You are drunk, or having a stroke, or both.... and lost from DCUM>Politics. |