The problem I have with brokers and realtors is that they should charge either a flat hourly rate or a transaction rate. Lawyers, consultants, and software developers virtually all work on that model.
But brokers and realtors have conditioned the public into believing that a 3% or 10% commission on the transaction is "reasonable". Which is certainly not when you are buying a million dollar property or renting for $5k/month. Also, when realtors are making more in commissions than doctors are in salary, you can be sure the market is distorted, and ripe for innovation.
But brokers and realtors have conditioned the public into believing that a 3% or 10% commission on the transaction is "reasonable". Which is certainly not when you are buying a million dollar property or renting for $5k/month. Also, when realtors are making more in commissions than doctors are in salary, you can be sure the market is distorted, and ripe for innovation.