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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]
24/7 availability is overrated. Almost every aspect of a sale can be handled during normal business hours. Just to make numbers simple, if I'm bidding 1M on a property, and I find it myself on zillow or redfin, the agent has to unlock the door for a view, call it two just so I can be sure, draft and present and offer and maybe a counter offer, unlock the door for an inspection, and show up for closing. Is that really 10k worth of work? Right now it's more like 20k. [/quote]

Eh.  That is assuming that you are the only person looking at the house.

I will just say that agents have less value when market conditions are stable and in balance.  During the pandemic market if you didn't have an agent you would have been at a significant disadvantage.  99% chance you would be a person shopping for years and unable to close.  Nobody knows where the market is in real time better than active agents.

[/quote]

Or, it could be the case that agents contribute to prices escalating more rapidly than they should by creating a false sense of urgency. If you don't have an agent encouraging you to use escalation clauses, bid up the prices of houses, and buy as quickly as possible, the market overall might behave very differently. Remember that the goal of a buyer's agent is partly to collect their commission check as quickly as possible.[/quote]

+1 It would actually be an improvement to have only one realtor (the seller's) involved. They could communicate deadlines to all the interested buyers. It's a good thing if there's no more rush to put it your offer within hours of the house hitting the market.

BTW it was still possible to have competitive offers during the pandemic. The terms mattered more than representation, and sellers agents would salivate at the thought of keeping all the commission to themselves if the buyer was unrepresented. It's always been that way.[/quote]

DP. Good points buy why should the listing agent get any portion of the money the seller set aside for the buyer agent? Absent a buyer agent, the seller should keep that portion. The listing agent can't perform any work on behalf of the buyer.

The common retort is "the transactions will be more difficult".

Ok. All professions entail easy-money transactions and hard-money transactions. If this is a problem for listing agents, then develop an elastic pricing structure that compensates appropriately. This fixed, immovable commission scheme screws everyone.[/quote]

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