Listing Agent Price vs Redfin Estimate vs Zillow Estimate

[Seacove]

I don't know if there's an ideal method for realtors to use but in the automated searches I see, houses generally sell for much more than list, sometimes much much more.

[slowlanes]

The real estate 'industry' itself is an overly expensive anachronism, and extremely unfair to sellers forced to pay 6% of the value of their home to someone who might end up with 20 to 40 hours of labor in the typical completed escrow deal.
When I look at all the other industries that have modernized for the consumers benefit, only the real estate market, along with the auto business, are still operating just as they did 60 years ago.
And before the realtors rush to the defense of their industry, I was a successful residential and commercial broker before changing professions, and can recite the defensive talking points.
Bottom line is just that - owners having to fork over 6% of what is usually their most valuable asset, for a sale with a buyer who most likely self researched on line, found the homes they were most interested in, called the listing broker, toured a few homes with the broker who wrote up the deal. And after that, aside from a few negotiations over home inspection results or similar, the escrow company, working for a reasonable fixed fee, does all the heavy lifting to the end.
Maybe it's time for Amazon to consider an alternative.

[Hacker1234]

Yeah 6 percent is crazy, should just be a flat fee.

[noah]

Commissions are half of ours in Canada and 1/4 of ours in the UK. Realtors certainly have been fighting it but eventually technology will bring the fees down.

Originally Posted by slowlanes

The real estate 'industry' itself is an overly expensive anachronism, and extremely unfair to sellers forced to pay 6% of the value of their home to someone who might end up with 20 to 40 hours of labor in the typical completed escrow deal.
When I look at all the other industries that have modernized for the consumers benefit, only the real estate market, along with the auto business, are still operating just as they did 60 years ago.
And before the realtors rush to the defense of their industry, I was a successful residential and commercial broker before changing professions, and can recite the defensive talking points.
Bottom line is just that - owners having to fork over 6% of what is usually their most valuable asset, for a sale with a buyer who most likely self researched on line, found the homes they were most interested in, called the listing broker, toured a few homes with the broker who wrote up the deal. And after that, aside from a few negotiations over home inspection results or similar, the escrow company, working for a reasonable fixed fee, does all the heavy lifting to the end.
Maybe it's time for Amazon to consider an alternative.