There are 2000 licensed realtors in our town of 100,000 people

In my experience about half of those make a living at it. The other half do it part-time, or not at all except when a friend or relative is selling.

Yes, there will be a shakeout, and yes, commissions will drift lower, perhaps much lower (I’m old enough to have sold a house with a 6% commission on the first $100,000, 4% on above that to $250,000 and 3% on anything above that.

The work is in the listing and prepping, and in hosting open houses if you’re trying to snag new clients looking for a house. If you’ve been at it a while you probably have a pretty good stable of past customers and referrals so you get your Sundays back.

So yeah, change. It’s about time. I’ll still use one to deal with the icky stuff of paperwork and hassle, but 6% rankled me on a $1M house, when it’s the same work as a $200,000 house.

Berkshire Hathaway FAQ

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