NY Times Dumps on Realtors
First, the Justice Department drops an anti-trust lawsuit at their front door and, now, The New York Times prints a how-to on cutting real estate agents out of the picture:
Anyone who wants to know how to outfox (Realtors) first has to understand where they derive their power: information. They know the market - or presume to know it - and help set the price of your house. They serve as the go-between and, again presumably, know how far you can push the other side.
Property Grunt, a New York broker and blogger, concurs saying this trend will “become the norm” in Manhattan. Hey, he’s a soldier in the trenches of the Manhattan real estate war and we support the troops–so we won’t dispute his view. But we can’t help but consider what selling a home might be like once hot markets turn chilly. Won’t that be a time when Realtors are needed most? Yes, we know…every Realtor makes the same argument. But we have to agree until the market does turn ugly and we see otherwise.
The 6% Solution: Skip Real Estate Agents [NY Times via Curbed]