2 Comments

1. Mark November 29, 2010 at 22:01

   Frankly I don’t know why the internet revolution hasn’t hit your industry sooner. In the past ten years prices more than doubled, buyers began doing 90% of the research, yet 3% remains the norm. I don’t know why consumers haven’t been demanding better sooner, but now that we all know housing isn’t going to grow by double digits every year, I will never pay anything close to 3% again.

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2. Jim Duncan November 29, 2010 at 23:00

   And that’s the beauty of the market. Some will pay less, some will pay more. I think most people knew that housing wasn’t going to continue growing by double digits.

   I’d insert a qualifier there as well … “some buyers began doing 90% of the research …”

   Some agents are worth 3%, some 5%. On the flip side, I wouldn’t work with some clients if they paid me 10%. 🙂

   But let’s not forget that that x% isn’t pure profit. There are quite a few pieces that need to be considered.

   Furthering the challenge, many consumers want it all but don’t want to pay for it … which seems to be the new American way.

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