New renter: That was a nice post. The funny thing is that in a recent NAR monthly there was and article about commission % averages going up because agents could persuade desperate sellers they needed to pay for what they get, presumably a sold house, by a top notch realtor. I don’t recall mention of any excessive cost being incurred by the agent. On the flip side, commission % averages fell during the boom because sellers knew how easy it was to sell a house. Dollar averages doubled or tripled of course, during this time and as the market deflates and we have general price inflation the same house begins to pay less. This all may have an effect on the “discount brokers” programs.
Also many agents aren’t going to get excited about the available listings and the clients that come with them. If the house can’t sell it doesn’t matter what the commission is, you still lose. I know commissions are awful but it kind of makes sense that with a diminishing pool of good and willing agents, facing a swath of almost unsaleable houses under the control of increasingly desperate and therefore difficult sellers that there would be upward pressure on commissions.
I am not bullish on commissions, just posting observations.
