The future of U.S. real estate commissions

The future of U.S. real estate commissions
Glenn Kelman, CEO of Redfin, and Luke Babich, chief operating officer of Clever (left to right)

This is the final of a three part series on residential real estate sales commissions. Part one explained the history of sales commissions, and the labor market for real estate agents. Part two dove into legal challenges of the present commission system, and the industry’s defense of commissions at the present level of 5% a home sale. 

You know what’s annoying? 

Telling someone the Internet has made their life a lot easier. 

Few professions are told that more repeatedly than real estate agents. Some grudgingly say that’s true, but others claim agents work more than ever.

“Twenty-five years ago, you might send a photo to the paper of a property,” said Ryan Gorman, president of Realogy-owned Coldwell Banker. “Now there are 36 different images, a video, imagery captured from drones. The average real estate agent is probably an expert at Tik Tok.”

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