[tonyedgecombe]

Let's not forget there's a standard 6% commission in US real estate transactions

I never really understood this, the last time I sold a house in the UK the fee was 1.5% and only on my side, the buyer pays nothing.

[mbesto]

1) The 6% commission is negotiable.

2) In the UK, the buyer pays stamp duty (tax) on the purchase.[0]

3) You can put a bid on a property in the UK and it's non-binding (until exchange)[1]

In other words - very different markets with very different dynamics.

[0] - I forget the percent, but it's material. This effectively disincentives people from buying, making the market less liquid.

[1] - This is frankly ridiculous.

(I've bought and sold in both US&UK markets)

[gm-conspiracy]

Did you know that "realtor" is a registered trademark?

[Declanomous]

What is the generic mark? Real estate agent?

[oh_sigh]

You don't need to pay it, but people feel that it is worth it/ You can definitely get a broker who works by the hour for you.

[zirpderp]

or flat fee - which will crush every realtor going fwd.

[aidaman]

Welcome to the US.