Why is it considered justifiable to pay real estate agents 5% commission on a home worth over $1 million? I cannot find any agent who can defend this fee structure. After purchasing during the last market downturn, I am now planning to sell my property. To engage a ‘full service’ agent, I am facing a minimum fee of $65,000, despite their workload being comparable to selling a $100k property, which would only earn them $5,000. How does this make any sense?
Additionally, if anyone is looking for a well-kept property that includes two homes on one lot (main house with 3 bedrooms and 2 bathrooms, plus an in-law unit with 2 bedrooms and 1 bathroom) on a serene one-way street in Alameda, feel free to reach out to me. Both homes are currently being used as Airbnbs and will be vacated by the time of closing.