{"id":8548,"date":"2013-04-15T12:00:55","date_gmt":"2013-04-15T16:00:55","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=8548"},"modified":"2013-04-15T07:26:59","modified_gmt":"2013-04-15T11:26:59","slug":"the-weird-economics-of-real-estate-agents","status":"publish","type":"post","link":"http:\/\/www.Centives.net\/S\/2013\/the-weird-economics-of-real-estate-agents\/","title":{"rendered":"The (Weird) Economics Of Real Estate Agents"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2013\/04\/041513_0355_TheOddityOf1.jpg\" width=\"640\" height=\"425\" \/><\/p>\n<p>The internet has been around for a while now\u2026yet it hasn&#8217;t really transformed the real estate business the way it should have writes Brad Stone:<\/p>\n<ul>\n<li>Sites such as Zillow have made it easier for buyers and sellers to trade properties \u2013 yet agents remain a part of the process and their fees have stayed the same.<\/li>\n<li>This is despite the studies that indicate that going through an agent, rather than selling the home directly, <em>decreases<\/em> the price of the home by up to 7.7%.<\/li>\n<li>This might be due to collusion \u2013there are agents involved on both the buy and sell sides; one agent might navigate their client away from another agent that offers a discount low-cost model.<\/li>\n<li>Things aren&#8217;t likely to change in the future. It&#8217;s not as if buyers and sellers haven&#8217;t used the internet \u2013 in fact 90% of real estate transactions begin on the web \u2013 they just feel the need to work with an agent who overcharges them.<\/li>\n<\/ul>\n<p>Read more about the company that is (unsuccessfully) trying to challenge the standard model, a couple companies that have given up on challenging it, and how agents do in other countries over <a href=\"http:\/\/www.businessweek.com\/printer\/articles\/100798-why-redfin-zillow-and-trulia-havent-killed-off-real-estate-brokers\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/www.businessweek.com\/printer\/articles\/100798-why-redfin-zillow-and-trulia-havent-killed-off-real-estate-brokers\">Businessweek<\/a><\/p>\n<p>Via: <a href=\"http:\/\/marginalrevolution.com\/marginalrevolution\/2013\/04\/the-real-estate-commission-puzzle.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+marginalrevolution%2Ffeed+%28Marginal+Revolution%29&amp;utm_content=Netvibes\">Marginal Revolution<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The internet has been around for a while now\u2026yet it hasn&#8217;t really transformed the real estate business the way it should have writes Brad Stone: Sites such as Zillow have made it easier for buyers and sellers to trade properties \u2013 yet agents remain a part of the process and their fees have stayed the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2013\/04\/041513_0355_TheOddityOf1.jpg","_links":{"self":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/8548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=8548"}],"version-history":[{"count":3,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/8548\/revisions"}],"predecessor-version":[{"id":8554,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/8548\/revisions\/8554"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/8547"}],"wp:attachment":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=8548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=8548"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=8548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}