[DB]

No way is the work done by the average Realtor worth the 3 to 6% of the value of the house they demand. It is a racket.

[Hydroshock]

I could not agree more.

[capitalist229]

No way is the work done by the average Realtor worth the 3 to 6% of the value of the house they demand. It is a racket.

In the past they have justified the 6% commissions on the basis of the high cost of advertising.

The internet has changed all that.

As with other business sectors, they are being dragged into the 21st century kicking and screaming.

BUMP

[tcostell]

No .. you've got it all wrong. What we need is a "Living Wage" law for all real estate brokers, where every home owner in America is required to move once every 4 years, and they must pay a broker a minimum of 6% (2% of which will go to the federal government to be used to pay Real Estate Brokers who don't make enough themselves to place in the top 50% nationwide.) That way, everyone can be above average, and the problem is solved.

Hooray... the government has saved us again.......

[Vision]

No way is the work done by the average Realtor worth the 3 to 6% of the value of the house they demand. It is a racket

You may have strong feelings about it but at least get your facts right. The average Realtor only gets 3-2.5%, the other half going to the buyers agent. Most brokerages get 40% of a Realtors 3-2.5%. The rule of thumb on that final amount is 10% spent for marketing on a listing/or gas for buyers(I had a buyer once I showed 80 homes to). This if before taxes, malpractice insurance, and all the fee's Realtors pay.

I think the problem is it only takes $300, a class, and a high school degree to become a Realtor. You get a lot of riff raff handling major moves in peoples lives.

Selling/buying a home is complex, labor intensive and requires a lot of work. I've don't many jobs, including real estate, and the most stressful by far is real estate.

[traditional1]

"No way is the work done by the average Realtor worth the 3 to 6% of the value of the house they demand. It is a racket.",p>This is the same type of scam Lawyers have perpetrated:

" tort lawyers charging standard contingency fees of 1/3 to 50% even in cases where liability is clear, damages are substantial, and the lawyer knew at the outset that she, in all likelihood, would earn windfall fees of thousands of dollars an hour."

There's no way to reign in these fees, because Lawyers control the ENTIRE legal process in their own best interests. No competition is allowed, and you'll never find a Lawyer who will sue Lawyers under a RICO complaint, or, even if one did, no Lawyer who has become a Judge would allow them to win the case AGAINST one of his fellow Lawyers....

[Ganymede]

My realtor made a whopping $31,500 on my house in April. She listed it on the MLS, put up a sign in front of my house and held one open house a few days later. It was listed on a Wednesday and under contract the following Thursday. The buyers saw it the day before the open house. So, I don't see anything that my realtor did to earn $3100 let alone $31,000!!!

FSBO next time.

[listenhillary]

Just about to close on a FSBO (for sale by owner).

Just had a horrendous experience with a Realtor listed home that I came close to purchasing. Backed out after too much dishonesty from seller and Realtor in the transaction.

[Hildy]

We just sold some land in Yugoslavia and their version of a broker had a fee of judst 3%. That seems very fair to me.

[Liberty Valance]

No way is the work done by the average Realtor worth the 3 to 6% of the value of the house they demand.

I disagree and i'm not a realtor. True professionals only make it look easy. You should check out the realtor as much as you check out any new house you may want to buy.

[relictele]

I've always been a bit suspicious of a business that can generate a healthy annual income for folks who seem to have a lot of downtime.