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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If I'm paying someone $200/hour, they better have a lot more letters after their name than "B.A."[/quote]

Well that is what most plumbers, electricians, and other tradespeople charge these days. With that said, all of those people perform services that I cannot perform on my own. Not so for real estate agents. [/quote]

Numerous specialties among agents...short sales, investors, foreclosures, first-time buyers, FHA, probates, navigating programs for first time buyers, negotiations to keep everyone out of court etc. Its not 1 size fits all. Most of the posters here appear to be conventional and high-end buyers and sellers. Coastal elites. Maybe you don't need an agent. But navigating some of the specialty areas and more nuanced aspects of getting a property closed when emotions are HIGH is certainly well served by a good agent. And lawyers don't hand hold at all. You just try calling a lawyer on a Saturday or Sunday or after hours or a holiday about your transaction. Likely they will be MIA. Unlike an agent. In addition to nuances and specialties, don't underestimate the value of the "24/7 on call" accessibility factor one gets with an agent to having a smooth closing. That alone should be considered "time and a half." No agents aren't always needed by the elites, but they are often needed to help protect others.[/quote]

This is fair take, applying to a minority of buyers. We need agents at competitive prices for the minority of buyers who need them. This presently is not the case and is why the majority here is so vocal, as they should be.

But your take is fair. It shouldn't be lost that some people get value from competitively priced, good representation.

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The average home purchase price in the US is 495k, so 1% is $4,950. The average first time buyer in the US is spending less than 250k, so a $2,500 commission. The average FHA price is $358k. Basically, your highest effort niche buyers have commissions that are far lower than average buyers who require much less work are paying. I think decoupling will be great for the average buyers because they require less work and should be able to find cheaper representation. It sucks for buyers who will need more handholding, but they should be the most expensive, not the cheapest.   [/quote]

PP Yes and to the last point, buyers who incur more expense should be more expensive. And agents should be able to compensate themselves accordingly. [/quote]

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