I think this assumes that the price of real estate is set by the post-fees price that sellers receive. I don't think that is true. I think the strongest factor

I think this assumes that the price of real estate is set by the post-fees price that sellers receive. I don't think that is true. I think the strongest factor in real estate pricing is what buyers are willing to pay. In some cases that is influenced by how much the buyer was able to keep after selling a previous property, but I don't think that is the most significant factor. Another factor that influences the sale price is the psychology surrounding the pre-fee sale price. Many sellers become fixated on a particular sale price. A common strategy for getting a lower effective sale price is getting sellers to include more in the sale price. One particularly notable example is seller financing.