Revisiting Residential Brokerage Fees in a More Technologically Advanced World
February 9, 2021
Article by: Norman G. Miller, Ph.D.
Anyone following the housing market understands that inventories of existing homes have continued to shrink, time on the market has never been faster, and often reasonably priced homes sell in one day. Add to this a huge reduction in labor-intensive on-site visits replaced by detailed video tours and a portfolio of photos, and the average buyer can much more efficiently whittle their list of potential home candidates to a much smaller list than was the case a decade ago. This all begs the question: Why haven’t we seen a decrease in the price of brokerage services in the U.S.?
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