[nrclark]

Isn't it kind of a self-inflicted problem though? As an organization, Realtors guard listings jealously, control access to house viewings, and bind themselves to clients with exclusivity contracts. It shouldn't be surprising their time gets wasted by people who are just window-shopping, because they're essentially standing in front of all the windows.

[pmoriarty]

Maybe it is their fault. In my opinion the entire business model is fucked up. If it was up to me, I'd charge for every single hour of my time, charge for advertising and any other money I spend towards selling the home (or build it in to my hourly fee), and charge a commission on top of that. But from what I understand an agent can't do that because it's against the law.

As for exclusivity contracts: agents don't just impose those on clients. The client can sell the home themselves if they want, it's called "for sale by owner". But if they want an agent to represent them, then yeah, the agent will act as their representative. Why shouldn't an agent get paid for their time when they act as the seller's representative -- even if the house doesn't sell?

It just boggles my mind how much free work agents do.

[nrclark]

Exclusivity contracts are also the norm for buyers.

[pmoriarty]

You don't have to have an agent as a buyer. Real estate listings are easy to come by, and you could just even drive around a neighborhood and stop in to any home with a "for sale" sign yourself.

But if you've hired an agent, why wouldn't you pay for their time?

While you're window shopping, they drive you around (or at least drive to the homes with you in their own car, paying for the car, maintenance, gas and insurance), they give you their advice on the homes and neighborhoods you see, answer questions about the home, about how the sale will go or any other questions you have about real estate, giving you the benefit of their years of experience in the industry.

They take time out of their life to give you rather than being with their families, or with clients who are actually serious about buying.

I honestly don't understand how someone could take all that from others without trying to compensate them for all they've given you.