[rayiner]

I’ll offer the alternate viewpoint. My parents sold a house last year in northern Virginia. During the market peak it was around 60% above what they bought it for in 2002, but by 2018, objective market price was 25% above purchase price. My parents—having experienced the 1990-2000s housing boom—could not believe it should be on the market for less than 50% above. A good seller’s agent absolutely helped them come to a proper asking price and made the sale happen.

Most buyers and sellers are not completely rational about houses, because they’re not repeat players. There is a good argument that agents help the market stay liquid and facilitate transactions happening.