The RE industry in my opinion is akin to a cartel in that they are in control, or trying to gain/maintain control, of the entire sales process of a home. They are currently trying to pass legislation in Michigan to make discount brokerages completely illegal…you MUST pay the full 6% commission! 10 or 11 states already have this legislation in place. Now how’s that for killing competition! I’m sure they are doing it to “protect” the consumer though.
The cold truth is that the times are changing and it’s not a matter of if, but rather when, a home owner or buyer will be more able to purchase a home independently online. Cut out the middleman. Sure, there will still be service providers available for those that don’t want to do the legwork. But make no mistake, the hay days of earning 6% commissions are numbered.
