I have done real estate transactions with no brokers involved. All you need is an escrow (plenty of companies to choose from), and lawyers on each side to review the paperwork (if desired), and title insurance. Even with attorneys’ fees it works out much less than 5%-6% of the transaction value.
What we need in real estate is a better, more effecient system of matching buyers and sellers. Once that happens, you can hire professionals to do the paperwork on a fee-for-service basis. Those professionals would get paid even if the transactions falls through.
All the better if property prices are lower. We can put our money to more productive uses… , or even enjoy ourselves by spending it in on frivolous things. Why feed the beast?
