3% of a $1M house is $60,000. That's bonkers almost any way you slice it: effort, expertise, or value-add. And that's just one side of the usual commission!
The process _could_ be streamlined and made less of a hassle, but since so many take a cut, there are perverse incentives.
I skew progressive/liberal on many policy issues, but on this one, I'm fiercely in favor of the libertarian argumentation. Realtors have an eff-ing insane monopoly / cartel. Sorry, it makes me crazy.
If you go back in time and/or to some markets, 3% of a $100,000 house = $6,000. That makes a bit more sense in terms of hourly compensation.
The process _could_ be streamlined and made less of a hassle, but since so many take a cut, there are perverse incentives.
I skew progressive/liberal on many policy issues, but on this one, I'm fiercely in favor of the libertarian argumentation. Realtors have an eff-ing insane monopoly / cartel. Sorry, it makes me crazy.
If you go back in time and/or to some markets, 3% of a $100,000 house = $6,000. That makes a bit more sense in terms of hourly compensation.