60 Minutes report on the NAR's MLS monopoly and the
dinosaur "six percenter" realtors (real estate clerks)

post from HousingPANIC - The Housing (Bubble) Crash Blog with an Attitude Problem on 14 May 2007 05:40:00 AM. © HousingPANIC - The Housing (Bubble) Crash Blog with an Attitude Problem

Here's the 60 Minutes video link.

Goodbye 6%. Anyone think realtors deserve $30,000 on a $500,000 house? Try $5,000. Or $500. And hello Redfin.
The only value real estate clerks added was getting the house on the MLS. If a discounter can do that, or if the MLS can get disintermediated itself (google?), then there is NO reason to pay a realtor a percentage. Maybe an hourly wage for showing houses, but that's about it.
Victory will be ours. 1.2 million realtors around the US, sorry to say, but you're dinosaurs, and the game is over.
Go find new work.

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