Day 3 of the U.S. News & World Report “Housing Rumble” debate has been posted.
Greg’s post was primarily (and not surprisingly) focused on the “6% Commission”, which is an erroneous assumption. First, all commissions are negotiable. Factually, the national average commission is around 5.1%. That’s an average, so of course in some places real estate commissions are typically higher, and in some places they are lower than 5.1%.
Then of course there is the common misconception that of the mystical 6%, all of it goes to the listing agent/broker. Try half that, at best.
My debate posts are limited to 400 words, which is probably a good thing as I could have written a War and Peace length tome in rebuttal to Greg’s post. There are several other points I wanted to make, but there wasn’t enough space available.
A response from Greg is due tomorrow, and I’ll have one more shot to fire on Friday.
Thanks to all who have expressed support here, elsewhere, and on the U.S.News & World Report blog!