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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am just amazed to see how low the commission has come down. A couple of years back, useless agents used to quote 5-6% of the listing price and now it is 1% or close to that. [/quote]

With technology and companies like Redfin it took longer time than I expected.[/quote]

Because it was a monopoly. That’s exactly why it was found to be illegal. With Redfin and tech, the fees should have been 1-2%, but they hadn’t budged at all off the 6% they’d been for 50 years. The only reason is because of price collusion/monopoly in the industry. [/quote]

If houses still cost $100,000, you would not be seeing 1%.

Sellers are so greedy. They got all this equity doing nothing but now are all resentful that someone performing a professional service also benefit from inflated prices. They act like they’re being cheated or something out of money they earned. It’s pathetic.

No, I am not an agent. (Since invariably some pea brained twatwaffle resorts to that retort).[/quote]

You are forgetting about the buyers who now not only have to pay the overinflated prices but also the overinflated realtor commissions baked into them. Why is nobody thinking of them? And of course most sellers are also buyers do they are not simply cashing the equity from their house but need to spend it on a house that likely appreciated in the same way as their own house. The realtor commissions in this context just help pushing the prices up without any real contribution. Minimizing their remuneration to what they actually contribute will be very good for both buyers and sellers. Realtors should instead start looking for employment in which they can actually add some real value. [/quote]

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