Thanks for the comments on my commentary here – they were interesting. I’m enjoying writing here and getting feedback from folks.
I found some more interesting thoughts on the New York Times article over on the Freakonomics blog. “Chubin,” one of economist Steven Levitt’s readers proposed a novel approach – the hourly realtor.
Lastly, the 6% commision model is little incentive for agents to get the highest price for the seller or lowest price for the buyer. I continue to think an hourly fee, based upon actual work provided, is the fairest of all. I just don’t think the public is ready to accept that model.
If consultants and lawyers can do it, why not real estate agents. Has anyone heard of agents trying this? Any reason this would be a non-starter from the gate? I don’t think it would take over the industry, but I could imagine some buyers and sellers really liking it. The comments are open…