IMO sdrealtor makes very good points regarding the value of a realtor, but I also believe that the answer to futuresdguy’s question is a resounding ‘no’. I have yet to hear any convincing arguments as to why commissions are so high, other than tradition; liability and meager realtor earnings just aren’t cutting it for me. I paid a non- college educated realtor the equivelant of $1000/hour in 2001 to sell my house – a ridicules fee that would have bought me the services of 2 x Yale educated lawyers.
Can someone tell me why realtors – unlike accountants and lawyers – are paid on a percentage basis to begin with? Shouldn’t we be paying for the amount of work done, or the time involved and not just some arbitrary percent?
Also, technology and pay-for-service models will not make realtors obsolete, but they will surely reduce the number of people who need realtor services. We can only hope that these new technologies and business models will help to break down the barriers that this industry has set up to protect itself and provide consumers with fairly priced choices.
