Don't know what state you live in, but realtors here in CT can't do much more than represent the buyer/seller as an agent.......a realtor closing a property is strictly a lawyer's purview.
6-7% for homes today is outside the pale as far as I'm concerned....my brokerage offers a straight deal: 4% if we sell it, 5% if another agent brings a buyer, with 2.5% going to that house. All commission percentages are negotiable in CT. The listing agency eats the cost of all advertising, which can get expensive for a run in the NYT and other targeted market areas.
That said, I'd like to know how, as you state, all realty business is done on the internet.......would you buy a property without looking at it personally? It's my time, my car, and (again) in CT, if you screw up and misrepresent a property, you and your brokerage are responsible.......non-disclosure is punishable by stiff fines and suspension and loss of license.
I do live in CT. And I understand this but the other poster doesn't seem to or it's not the law in his state.
All commission percentages are negotiable in CT.
I know this too. When we were looking for a house or land we got the same from all realtors: "The state says we can charge 6%." They left it at that giving the impression that it was set by the state and inflexible. I know different now.
That said, I'd like to know how, as you state, all realty business is done on the internet......
What I said was: "It's all done on the internet and through networks." Meaning that all houses and properties are listed on the real estate network (I forget what it's called) and now on the internet. As an agent a buyer comes in (like we did) and they look up what we want by price, location, land type, etc. How hard is that?
My brother works for a company whose big client is Raveis Realty. He is in charge of putting the listings into the system. The RE agent doesn't even have to do that if someone comes into their office to list a property.
So, you drive around and meet someone at a house to show them. What makes you a better choice to sell my house (at 6%) then me? Do you know more about my house than I do? I bought the land and built the house through a construction loan. I know every knook and cranny of my house. If I want to sell it why do I have to pay 6% to someone just for access to system?