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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.
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!
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.
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.
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.
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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