Do you remember a few short summers ago when all the talk was of online Brokers who wanted access to local MLS info to advertise as their own, the purpose being to be able encourage buyers and sellers to use their discounted service? A result could have been a breakup of MLS services. I have just returned from the UK where Real Estate is sold as if we were in the 18th century. There is no online database of all homes for sale, as a result property is still dependent on trade newspaper advertising, although some offices now have their own websites listing their inventory.
In the UK there is no MLS. Each Estate agent (estate agents require no license in the UK) advertises their own listings only. Not only that, the estate agents are reluctant to show even their own listings, in fact you as a buyer are encouraged to contact the seller directly, unescorted and without qualification or screening!
Lawyers do the job that Realtors and title companies do in the USA and for a lot more money!
My point here is for critics of our industry who tout Realtors as being overpaid and the industry itself as lacking competition, look elsewhere, look at what the cost is to sell a home in the UK, to pay an estate agent plus an attorney often at an hourly rate and you will see that we are driven by the forces of perfect competition and the service provided and exposure that results, more than covers our fees.
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