Like many of you, we have bought and sold real estate. This summer we plan to sell some properties and we will use an agent. As we have done in previous times we will negotiate a contract stipulating a number of agreed items including a commission percentage.

I do not see much changing going forward for the vast majority of real estate transactions. I can speak from experience at the inherent difficulties arising from selling or buying properties without an agent between the buyer and seller. Yes, it can be done and , yes, it saves money. It also can be the pits not having a go between to politely or, if necessary, bluntly tell the contra-party what is and is not going to be agreed upon or to be done (think expensive improvements for no change in property price, for instance). In my view it is worth some percentage so as to find qualified buyers and to deal with the multitude of issues that can arise.

The above is a long way of saying real estate brokers are not going out of business in my estimation. The strongest and best will find ways to adapt.

Uwharrie

Berkshire Hathaway FAQ

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