Some more food for thought…
Throughout the entire home buying transaction there are the following service people and their respective fees:
Real estate agents - typically 2.5% to each side
Lawyers - $1,000 - $2,000 to process documents, coordinate mortgage etc.
Banks - They make oodles in Mortgages
Home Inspectors - $350-$500 (sometimes less)
So typically we are the lowest paid party in the home buying process and as we all know we carry ridiculous amounts of liability in perpetuity.
So why do we allow this to happen? Are we merely victims of circumstance, prisoners on a low wage high, risk hamster wheel?
Do you think real estate agents sat around bemoaning their low fee or do you think they consolidated and agreed THIS is what we get paid? Do banks or lawyers race each other to the bottom of the pay scale–nope–but we often do.
I would propose the following: that we as an association come up with fair and uniform fee structure that says THIS is what we are worth–So no matter where you are, when you call or who you call the price is the same and we as an industry can start making inroads on getting paid for what WE think we are worth and not what the other guy does.
thoughts? Pricing structure?