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Monday, Feb. 12, 2007 | Why do agents think they deserve a percentage of the sales price and not a flat fee? As housing prices have shot up over the past decade, why does everyone accept that real estate agents should get a similar raise? They are not doing more work and they do not deserve the money they get. They have an unjustified monopoly over the real estate market, and do not deserve even close to the 2.5-3 percent they get per sale.
I think they should get a flat fee depending on the price of the property: $5,000 plus marketing costs for properties up to a million, $10,000 for properties over a million. Then we can get rid of the agent glut, and return the market to the dedicated lifetime professionals who actually do a job and perform a valuable service for people that decide they need an agent to sell their property.