I agree that a real estate agent does, in many cases, do a lot of work. But…
Does a real estate agent do TEN TIMES the work when he sells a million dollar house, instead of a hundred-thousand dollar house? Absolutely not, right? Then, why should the commission be $60,000 on a million dollar house, versus $6,000 on a hundred-thousand dollar house (at 6% commission)?? The envelope please….
It shouldn’t! And it won’t for much longer…think of how many thousands of shares of stock you can trade now for $19.95. Now think back to ten years ago…how much did it cost back then? A HUGE difference. What did the stock-broker do back then that warranted such a large payday? Truth is, there is absolutely no difference between what they do today and what they did in the good old days. Good real estate agents will need to learn to survive on $30-40K per year income, in my opinion.
