4 ms·
> I don't know how much value agents added over the past few years, navigating bidding wars, pocket listing access, etc. but I've never understood the justifica
by foobarian 3y ago
> I don't know how much value agents added over the past few years, navigating bidding wars, pocket listing access, etc. but I've never understood the justification for spending so much money on these fees.
The question that this raises is even more puzzling: why hasn't there arisen agents that undercut the status quo? Are there guild or cartel effects at play?
- no_wizard 3y agoThis was the Redfin model and it had mixed results, I think they thought their non commissioned agents would upend the market, but that didn't really happen. The staying power of the Realtor Association may have something to do with it as well
- PaulDavisThe1st 3y agoIt's not so much staying power as "access to the MLS"
- deleted 3y ago[deleted]
- thedougd 3y agoI've been using a flat fee agent since 2012. $500 to list, $500 to close, but still have to pay the conventional 2.5-3% to the buyer's agent. Still a huge improvement.
- dg08 3y agoThey do exist. When I sold in NYC a few years ago, I paid 2.5% all in. When I bought, I used the same broker and got a 2/3 buyer's commission rebated to me at closing. It was a decent chunk of money and helped me pay the closing costs. I recommended it to all my friends and several got the rebates as well. There are a bunch of these brokers now.
- deleted 3y ago[deleted]