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Reply to "WSJ: Beware real estate cartel"
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[quote=Anonymous]Also let’s say you buy a one million dollar home with 5 percent commission. ($50,000) If no broker and owner sold it to you for $950 both buyer and sell less transfer taxes, buyer less mortgage recoding taxes. Buyer up front saves $50k. But wait if you live there full 30 years the extra 50k mortgage will cost you 2-3x times as much due to added interest over 30 years. My house seller paid $70k in realtor fees. I saw house in Redfin day listed. I showed up same day at Thursday night open house. My realtor was busy so could not go so just wrote down name. Realtor just say there chit chatting daughter did not even show house. I bought it. I had to negotiate a few things with seller after contract and she gave me his number. We talk direct. They literally did tops 2 hours work. I am not counting showing up for closing to get check. [/quote]
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