I’m not endorsing any new taxes or additional government control, but I’ve wondered for a long time when the government would start putting itself in the middle of real estate transactions.
Prices in this state have gone up to ridiculous levels yet the percentage the agents and brokers get remained the same, 6%, so often they are making hundreds of thousands for doing the same amount of work that earned them tens of thousands a decade ago.
Thats 3%, not 6%
Ultimately government wants to control housing and dictate where people will live.
When I sold we cut a deal: I set a price (higher than he recommended) telling him that if it sells at that price he gets his full 3%. If it goes for less, his share is cut to 2%. If it goes for over asking price, he gets 4%.
It sold for 10% over asking price. This occurred 8 years ago, when the market was flat and just starting to turn.