I wondered how the market was bearing it. I asked why. Certainly, real-estate folks work hard, especially now. So do many of us. But if I were selling a house today, I'd be pressing for a lower commission rate.
Sellers are in the best bargaining position in a long time.
The system is bound to come apart because increasingly savvy sellers will realize that they can do better. Today, their prices do not fully reflect the costs of individual transactions, nor the market conditions. The banking and equity industries have figured this out already. You get better service and pay fewer fees the more money you keep in a bank. A real-estate agent earns a commission because he or she provides services, from gathering listings to showing homes to placing ads and more.