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Old 04-17-2018, 03:29 PM
 
Location: PVB
2,387 posts, read 1,208,972 times
Reputation: 2765

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What do you think will be the future of percentage based commissions? Will it go to a fixed rate? With the advent of the internet, do you think its just a matter of time until someone develops a platform where they recruit local agents to work for a fixed remuneration vs the current percentage based system? It might work where the homeowner does some of the work ala FSBO but an agent handles the transaction and offers some limited assistance. Perhaps what to do to make the house more salable, listing price.
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Old 04-17-2018, 03:44 PM
 
Location: Athol, Idaho
2,182 posts, read 1,055,531 times
Reputation: 3184
There is a company where I am that does what you are describing. It already exists.
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Old 04-17-2018, 04:22 PM
 
Location: Columbia, SC
8,844 posts, read 17,440,566 times
Reputation: 6194
Crazy things are going to happen with this new internet thingy that Al Gore created. I think commissions will go up. Sell now before they hit the teens!
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Old 04-17-2018, 04:28 PM
 
Location: SW Missouri
15,527 posts, read 29,233,815 times
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In Missouri, Realtors are required to present all offers. Realtors do not "negotiate" prices, terms or conditions. However, having a percentage based commission does "encourage" realtors to seek out potential buyers who are likely to offer "top dollar" to sellers instead of low-balling them. If I were selling my home, I would very much prefer to have a commission based realtor list/show my property as opposed to a $2995 realtor who will gladly show my property to any Schmoe on the planet, even those who are not qualified. After all what do they care? Their commission is going to be the same regardless of who buys it.
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Old 04-17-2018, 04:48 PM
 
Location: Henderson, NV
818 posts, read 484,030 times
Reputation: 2212
Quote:
Originally Posted by Thundarr457 View Post
What do you think will be the future of percentage based commissions? Will it go to a fixed rate? With the advent of the internet, do you think its just a matter of time until someone develops a platform where they recruit local agents to work for a fixed remuneration vs the current percentage based system? It might work where the homeowner does some of the work ala FSBO but an agent handles the transaction and offers some limited assistance. Perhaps what to do to make the house more salable, listing price.
Great question and very thought-provoking ideas. Could you elaborate? How far do you think this internet thing can go? Is it possible for the RE cartel to loosen its grip on the MLS? Do you see a more artificial intelligence influence replacing humans to off-set lost commissions? Do we have the means to control the AI if it becomes self-aware?

The risks are great, but the rewards could save thousands of dollars.
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Old 04-17-2018, 05:18 PM
 
Location: Columbia, SC
8,844 posts, read 17,440,566 times
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Quote:
Originally Posted by WVREDLEG View Post
Do you see a more artificial intelligence influence replacing humans to off-set lost commissions? Do we have the means to control the AI if it becomes self-aware?

The risks are great, but the rewards could save thousands of dollars.
Didn't you see that new movie they just made about this? It's called The Agentnator starring some body builder..Arnold something. It's a real whack-a-doo movie about AI...skynet or loopnet or something. Can't imagine this movie becoming mainstream but you should check it out. Could develop some kind of cult following.
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Old 04-17-2018, 05:20 PM
 
2,187 posts, read 1,533,535 times
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With internet, I expect the commission rate to drop to 0%. Why pay for commission when you can list on your own.
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Old 04-17-2018, 05:51 PM
 
Location: Rochester, WA
3,827 posts, read 2,050,555 times
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Thundarr's Real Estate Muse of the Day.... where evidently one of us may or may not be played by Arnold Schwarzenegger.

Awesome...
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Old 04-17-2018, 05:56 PM
 
Location: Columbia, SC
8,844 posts, read 17,440,566 times
Reputation: 6194
Quote:
Originally Posted by Diana Holbrook View Post
Thundarr's Real Estate Muse of the Day.... where evidently one of us may or may not be played by Arnold Schwarzenegger.

Awesome...
Me, definitely me! Mike J is tall but he's way too spindly to be portrayed by Ahhnuld.
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Old 04-17-2018, 05:57 PM
 
Location: Athol, Idaho
2,182 posts, read 1,055,531 times
Reputation: 3184
Are Thundarr and JB the same person? If so, can we get rid of one or the other since that sort of thing isn't allowed on here.
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