decade has not been great for middlemen, who match buyers and sellers for a slice of the transaction value. Travel agents have had their margins crushed by flight-search and hotel-booking websites. Stockbrokers have been squeezed out by whizzy algorithms that carry out transactions for a fraction of the cost. Taxi dispatchers have been replaced by Uber and Lyft.
There is an exception, however. Even though there are plenty of sites, like Zillow and Redfin, which offer home-buyers in America the chance to search for properties, commission rates for real-estate brokers have not fallen much, staying close to 6% . Americans pay twice as much as people in most other developed markets, where similar sites have done much to depress residential-property transaction fees .This irks many.
But the market seems to think there is plenty to worry about. Many large real-estate brokerages are privately held, but the share price of Realogy, one of the brokerages named in the suit, has fallen by half since the end of April, just after news of the
nobrokercom guess you should open there ;)
They are rip offs!!! They forgot to open the front door in an open house.
RobertoCFG
Is this an advertisement?
lol uhm, no, did you even research this?
I'm surprised this racket has lasted as long as it has.
tomkarlo If only there was a brokerage with 1-2% fees 🤔
One of AI’s greatest contributions was identifying who’s being held hostage and by whom/what. Governments generally won’t allow us to even show them the information we’ve produced. “X will experience cardiac arrest within the next 16 hours.” “We can’t know that, Sorry.”
I want a 'moving house'!
Expensive but having dealt with the medieval ridiculousness of British house sales I will pay my six percent every time. Nightmare to buy or sell...reason enough to leave
Once Dusk Network is online tokenisation of your estate will be easy choice $dusk
Haven’t read the article but brokers in the US are a ripoff.
If homeowners have potential buyers already lined up to buy their home then it may be worth it to try and sell their home on their own. They should be aware of the work, time and risks involved in doing this. After all is said and done, they end calling an agent.
For value of services received the cost is woefully overrated. Most, but not all, sell-side realtors merely list the offering, put together some token 'comps' and then wait for a buyer. Most, but not all, buy-side realtors make buyers do all work and just collect a commission.
The biggest rip off is realtors in CityOfBoston charging broker fees of half to a whole month of rent to renters rather than property owners, making the upfront costs of moving into a new apartment much higher than is reasonable for a rental property. BostonGlobe has reported.
They are like valet and used car dealer