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Real Estate
Reply to "Why do we need a real estate agent?"
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[quote=Anonymous]The commission agreement is in the contract between the seller and the seller's agent. A seller is entirely within his or her right to say "After thinking about it, I'm not willing to sell this house through you unless you agree to reduce your commission from 5% to 3% so that I can accept this pending offer." And, as the Economist Article nicely points out, this argument is circular. Agents tell sellers they'll build the commission into the cost of the house, and tell buyers they're not hurt by the commission. Its not possible that both are true.[/quote]
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