US is still a worst case with highest real estate commissions. https://www.economist.com/finance-and-economics/2020/02/15/technology-is-poised-to-upend-americas-property-market …pic.twitter.com/LdBUiy0HTz
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I thought it was a network effect. To get buyers to show your place it has to be in their system, offering them the % they want. To be willing to avoid seller agent, you have to believe enough buyers will look at your alt ads.
You can list your own house on MLS for about a hundred bucks, without using an agent.https://www.moneycrashers.com/tips-sell-house-by-owner-without-realtor/ …
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But will buyer agents show such listings to their clients?
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Not only is the answer to this often no, but it can remain no even if proper compensation is offered to the buying side (generally 3%). Brokers realize that they can collude to exclude all potential market disruptors to ensure the market doesn't become efficient (yet).
End of conversation
New conversation -
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Who has to pay for the photography? Would the owner need to coordinate open-house showings on weekends? The fee might bundle a bunch of other services together.
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