4 ms·

Wouldn't the natural solution to this be real-estate agents accepting lower commissions? Or transition to a non-commissioned pay rate? RE agents historically p

• chrisco255 6y ago
  I used to sell real estate during the last bull cycle of '03-'07. People got the same attitude towards agents then, when the supply is so low and buyers are high, it's relatively easy to sell on your own. But during a bull market being a buyer's agent is more work. People have full time jobs and can't spend all their time researching or managing multiple offers. Buyer's agents put in dozens to hundreds of hours of work per client and get no guarantee of a return (if your client goes to another agent, you have no recourse and you get no income from that transaction). If you're getting 20 offers on your house, then 19 of those buyers are gonna be disappointed and gonna have to regroup and find something else. During a bear market, the opposite is true. Being a listing agent now takes better marketing, networking, presentation and sales skills and it is easier to be a buyer's agent. At any rate, there are countless numbers of obstacles that can cause a deal to fall through, from financing, inspections, FHA approvals, title issues, personal issues, etc that skilled agents can much more easily navigate and close a deal much more reliably. For me, no two deals were the same, and it was always interesting to try to thread the needle when it at first seemed hopeless.