Reply to WSJ: Beware real estate cartel

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The DoJ is coming after you next:

https://www.wsj.com/articles/warning-to-the-real-estate-cartel-11625783854

Finally, hopefully consumers can get away from this ridiculous system that compensates brokers exorbitant sums of money for only a few hours of work. TBH, a vast majority of the process could probably be largely automated for a $20 fee anyway.  Ridiculous US consumers have so much wealth destroyed from insane fees, or are forced to buy less because of fees.[/quote]

Funny, I did a 5 hour home inspection today with a lawyer who is involved in this case.  Guess, I don't have to day anything else, and we will forgot about the twenty plus hours I spent with him at other houses, working out finances, and two previous pre inspections.  [/quote]

Funny how you cherry picked and only highlighted this one transaction. Are you suggesting there are no transactions that take less than 20 hours beginning to end?  I’ve purchased/sold several homes both with realtors and on my own with a flat fee attorney. Realtor fees should be by the hour. $750 an hour will motivate buyers to be more precise with their search. [/quote]

More like 75 cents an hour.  We handed our agent the key to our house and she had it painted, floors refinished, deck and some other repairs done, had a new garage door installed, carpet cleaned in the basement, and had windows and house cleaned. She had the house staged and had photos, floorplans, and a tour done.  She spent three hours sitting on her ass at an an open house and then made us respond to offers a few days later.  She didn’t do anything after that except meet the appraiser, termite inspector, and our movers.  She spent maybe a couple hours making sure the movers got everything out of the house and then took all our old paint to the County.  She spent a lot of time with the settlement because we were in two places. For that she made over $9,000.  She should  have gotten $750 for the little she did.   My neighbors were all impressed  but she didn’t do any of the work [/quote]

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