An Open Letter to the Media: A 6% Commission Isn’t “Standard,” But Here Are 6 Things That ARE Standard for Agents
By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Many folks in the media have recently been writing sensational headlines declaring an end to buyers’ agents and the “standard 6% commission.” The minute you say that, everything else you write has to be questioned, because it’s inaccurate and misleading to the public. Let’s get into it…For starters, the vast majority of real estate agents probably think twice about using the word “standard” to describe anything in life, let alone real estate commissions, just to be on the safe side. Agents aren’t allowed to even say words that suggest there’s a standard commission, let alone conspire with each other and agree there’s a “going rate” of some sort.More importantly, it’s not factual. According to Statista, the average real estate commission hasn’t even reached 6% since 1992, and they vary f...
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