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I wouldn't go quite that far. They also handle the paperwork and coordination with the other agent, which is not a trivial job. It's highly questionable if th
by jandrese 3y ago
I wouldn't go quite that far. They also handle the paperwork and coordination with the other agent, which is not a trivial job. It's highly questionable if the value they add is worth 5% of the gross sale price of the house, especially in our amazingly inflated markets, but few if any agents seem interested in working at hourly rates.
- robertlagrant 3y agoIn the UK paperwork is mostly done - surprisingly slowly - by lawyers.
- poulsbohemian 3y agoThis is the practice in many countries and even several US states. The listing services we have in the US are not universal either, which I think performs a really important role in providing information to the public and creating a more level informational playing field.
- _ea1k 3y agoSame in the US, and for a separate set of fees on top of the realtors 5-6%.
- poulsbohemian 3y ago>few if any agents seem interested in working at hourly rates It’s because most agents work as self-employed contractors under the auspices of a brokerage, and the brokerage is not going to allow that. And/ or, in a state using standardized legal documents, we don’t even have a form for that, which means we’d need to come up with an hourly contract from scratch - and the brokerages will put their foot down on that too.