End consumers and market disrupters want to lower the agent's commissions.
Agents have to make a living, but they can take their talents elsewhere to do it. Downward pressure on commissions means talented people will stop being Realtors and switch professions, or never enter real estate to begin with.
End consumers will get poor representation by AI-driven robots and sub-mediocre agents. But, oooohhh ahhhh, the representation will be cheap!!! Big savings!
Cheap, until they have to hire a litigation attorney to try to fix what should have been done right the first time.
And the attorneys won't work on commission. They'll work for $300 to $600 an hour, with a $5,000 retainer, whether you win or lose.
Can't afford an expensive lawyer? Maybe there's an AI legal-bot app that can be downloaded that will reimburse the buyer or seller for the lousy deal they got themselves in to. Maybe they can find a virtual lawyer who can help them un-buy or un-sell the house.
Maybe there's an app that can turn back time so the end-consumer can go back and hire a real live competent Realtor.
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