[taway_1212]

I wonder if this is not an example of a market failure (i.e. a situation, where a solution that the natural market forces have came up with is very inefficient). I suspect we could well have much less realtors and they still would be able to handle all transactions - which means their fee per transaction could be significantly lower. Unfortunately, the process of buing/selling a property is so rare and emotionally heavy for most people that they don't negotiate the realtor's fee. Also, when a property is locked into a realtor (he's representing it) then, even if he's the worst and most expensive scum, I as a interested buyer still have no choice but to deal with him if I like this property (effectively he becomes a monopoly). All around a rotten situation.