If you think about the problems to solve in a real estate transaction are roughly as follows: Seller problems: 1) Maximize selling price 2) Minimize damage to

If you think about the problems to solve in a real estate transaction are roughly as follows: Seller problems: 1) Maximize selling price 2) Minimize damage to property / theft 3) Minimize cleaning / preparation for showings Buyer problems: 1) Minimize purchase price 2) Minimize number of hidden problems with house One would think that realtors might help to maximize selling price but their incentives are much more aligned with selling a property quickly as it is less work that way. For the most part, they solve seller problem #2 by acting as a kind of well dressed (and likely not very tough) security guard. The pricing problem could arguably be solved by having something along the lines of a Dutch auction. Many of the uncertainties (largely not addressed with the current system) could be solved via insurance.