Select date

May 2024
Mon Tue Wed Thu Fri Sat Sun

Firing a real-estate agent

18-4-2024 < Attack the System 15 243 words
 
Now, before you fire up the hate mail, I understand Albert’s experience isn’t representative of all real-estate agents.

But there’s a legitimate case for more people to follow in Albert’s footsteps. That’s thanks to a recent settlement focused on agent commissions.



In short, buyers and sellers could be responsible for paying their agents separately. Previously, sellers typically paid out both agents with a chunk of the final sale price, usually around 5-6%.



(Business Insider’s James Rodriquez has done a fantastic job covering this whole saga, including how the settlement could upend the future of homebuying.)



So, with real estate where it is — expensive and mind-numbingly frustrating — you could see why buyers might be willing to cut ties with agents to save some cash.



It all speaks to a broader DIY debate that plays out in industries. Take personal finance. Financial advisors are a market worth trillions of dollars. Yet some say you’re better off avoiding advisors and their fees and sticking your money in low-fee index funds.



Sometimes, though, people are willing to “pay for peace.”



Airbnb upended the hotel industry when it entered the scene. Why pay for a pricey, small hotel room when you could rent an entire house or apartment, often at a lower price?



But it wasn’t long before annoying checkout chores and exorbitant fees sent some people running back to hotels.

Print