I would agree with this. Agents work their butts off for nothing and buyers often feel no loyalty because it is often revealted that (gasp!) the agents are working for the seller. However, should an offer be made and accepted it is then the selling agent that has to hold the whole thing together by making sure that lawyers do their jobs and that inspectors get access to the house, the correct paperwork and insurance policies are available at closing. And should a deal fall through or at the last minute a buyer just decides to buy from another agent - the original agent who did all the work gets nothing.
Anyone could do the job they do today if only the RE industry didn't have exclusive rights to the networks.
Not exactly as a mortgage broker friend of mine tells it.
He claims the mortgage broker orders all inspections, acquires updated insurance policies, orders title search, runs credit check, finds lender & gets loan approval & gets all necessary paperwork in a packet for the closing officer.
According to him, all Bambi the Real Estate Agent does is take the client upstairs to show them the basement, then downstairs to show them the attic and fills in the blanks on an offer form ;-)