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A comment on Jury Finds Realtors Conspired, Awards Nearly $1.8B in Damages. Parent comment

Re:Jury Finds Realtors Conspired, Awards Nearly $1.8B in Dam... by conductr on Tuesday October 31, 2023 @05:22PM (#38091556)
My problem has always been with the percentages used on certain things; like commissions. Just make it a flat fee. Things that require agent's time like open houses; bill for that. It's the essentially the same effort on a $100K house and a $500K house and a $1M house. Maybe once you get to $5M+ houses the fees need to increase since this is a different class of RE with much smaller pool of buyers. But still should be fixed amount and not percentages.

In my area, since I bought my first house 10 years ago house prices have 4X'd. I don't think the wages of most professions have, the demand for housing makes it easier to sell, so why should agents be making 4X more?

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Re:Jury Finds Realtors Conspired, Awards Nearly $1.8B in Dam... by salamanderss on Tuesday October 31, 2023 @06:25PM (#38092250)
Yeah it also causes the problem of making it a real pain in the ass to buy cheaper plots of land. Realtor often don't give a flying fuck about the sale of stuff under 50k, not worth it for them. Can be hard to get representation.
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Re:Jury Finds Realtors Conspired, Awards Nearly $1.8B in Dam... by semiquaver on Tuesday October 31, 2023 @07:24PM (#38092715)
Is there anything else in real estate that’s normally priced in terms of percentages other than the realtor cut? I’m not aware of any.
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Re:Jury Finds Realtors Conspired, Awards Nearly $1.8B in Dam... by lttlrck on Tuesday October 31, 2023 @07:33PM (#38092773)
Property tax.
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Re:Jury Finds Realtors Conspired, Awards Nearly $1.8B in Dam... by deelowe on Wednesday November 01, 2023 @01:00AM (#38094743)
Everything is negotiable, but sellers often get asked to pay some portion of closing costs.
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Re:Jury Finds Realtors Conspired, Awards Nearly $1.8B in Dam... by sizzle on Wednesday November 01, 2023 @05:02AM (#38095998)
This was the business model for PurpleBricks that exited the US market after failing to disrupt the Realtor mafia in control.
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Re:Jury Finds Realtors Conspired, Awards Nearly $1.8B in Dam... by firstplacelast on Wednesday November 01, 2023 @08:50AM (#38097520)
Maybe we should all learn from real estate agents and price our labor at a % of the median home price within 1 hour commute to our offices?

While I do think RE agents are overpaid in expensive markets, I also kind of think...good for them. Pegging your wages to your most expensive living cost is a supremely intelligent move.

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