It just came to me why the real estate market has not made the same strides in passing on transactions savings to consumers as has the stock market or the travel industry.

Prior to the advent of the internet, both the stock market and the travel industry only involved one agent. And post-Internet, bot the stock market and travel industry make information readily available, so the consumer can make an informed choice based upon substantially all the information in one place.

But in the real estate sales market, the norm is a two agent transaction. Furthermore, since sellers have to pay the freight for window shopping buyers, the agents’ fees are even more inflated.

In Manhattan, it is common practice that agents working with Buyers steer their Buyers to properties with the higher commission. So, until real estate listings and information becomes more readily available to consumers, home seekers wil require an agent and transaction fees will remain high.

Of course, we have to acknowledge the more labor intensive role of the agent in accompanying his clients, negotiating and assembling the Coop Board package as compared to travel agents or stock brokers.

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