4 ms·

The internet didn't shrink 6% real estate commissions. But this lawsuit might

• ve55 7y ago
  It's more likely that a successful startup will disrupt this industry before this lawsuit does. A 6% commission is a ridiculous amount of money to pay a middleman for high-value transactions that are often 6 or 7 figures. It's a huge challenge, but maybe one of the companies that is already working on this (for example, Door, mentioned in TFA) will be able to make some headway in this area that has lacked it for so long.
  • jdsully 7y ago
    Redfin has a reduced commission model for only moderately reduced service. But they still haven't had the impact everyone was expecting. Those who have used it seem to love it.
  • sjg007 7y ago
    The iBuyer type programs will change everything. You will sell your house to a company and then maybe even purchase another one from them. Also once they have the houses then they can force reduced commissions on buyer agents. It will be a slow boil but it will happen. Sellers can sell with no strings (and they might get less), the company will rehab it/// Basically if you can bankroll the inventory you can take over the market.
• tropo 7y ago
  This is one of the underlying causes of long commutes and thus traffic on the roads and all the associated pollution. People can't afford to move closer to work if they take a 10% hit each time. (it is well above 6% due to numerous random other things like title insurance)