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Are real estate commission structures fair?

Do you think with housing prices climbing to today's prices that the old buyer/seller agent commission structure of 2-3+% for each side is still fair? $9-13.5k for each the buyer's and seller's agents on a $450k house seems like a ton of money for almost no work to me.

My wife used to be an agent and within 2 years was making more than me as a senior software engineer (2007-8 killed that). I get that it can take years to build up clientele and there is continued education (for as little as $100/year) and license renewal, lead generation services, etc. A single sale will cover all of the costs for a year and still leave enough to make 3 mortgage payments and a car payment (or more). It just seems to me that as home values have gone up the agents are taking way too big a cut. Maybe it's just me.

submitted by /u/crap-with-feet
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source https://www.reddit.com/r/RealEstate/comments/13wk5j1/are_real_estate_commission_structures_fair/
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