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The stock brokers were forced to lower commissions, somehow the real estate brokers have held on.
by naveen99 3y ago
The stock brokers were forced to lower commissions, somehow the real estate brokers have held on.
- labcomputer 3y agoIt’s network effects. Because a buyer’s agent won’t show a house that isn’t listed by another member of the cartel. So if you want most buyers to see your property, you have to use the cartel. And you don’t get to view a cartel house unless escorted by a buyer’s agent. Also, the seller’s agent will discourage the seller from accepting offers from buyers not represented by the cartel. So if you want to see most properties, and have your bit taken seriously, you again have to use the cartel.
- matt-attack 3y agoPretty sure most clients are the ones decided what to see. The days of going to an agent and saying “take me to see three house that fix my needs. My needs are X, Y & Z”. For the last decade it’s been “I found these houses on line, popped in the open houses on my own and I’m interested in this one. Write me an offer.”