Oh, blah, blah, blah. Can't tell you how many internet solutions to buying and selling are already out there, and failing. Your "friend" is missing the entire point about buying or selling a home. It is a very hands-on, human transaction filled with emotions, and most people simply can't be trusted. The biggest value of a good Realtor is to keep idiots and thieves at arms length from the seller. Because there are plenty out there. There's no technology platform that's going to replace a good human representative, for those that need or desire the help.
I tend to agree. But this concept is unique. Greed is everywhere and when you throw dollars at the buyers or sellers they will think hmmm, pay 5000-10000 or take 2000-5000? The concept involves lots of relationships with any industry that deals with a home purchase. This is revolutionary and will also satisfy the lender's lending criteria. So they can't even look unless they have qualified.
All these human realtors that bitche about all the wasted time with potential buyers, yada, yada, yada. LOL just run a check of financials and you will know right away whether your wasting your time or not. These chaps got probability of buyer purchasing based on the financials of the potential buyers. So you won't waste all your free time showing homes to grade C lurkers.
I know the industry. It won't work. There have been all kinds of plans/business models to give rebates, etc. etc. to buyers and sellers. They don't work, and the reason is because people want things that are simple, clear and traditional. There is a lot of fear for the typical buyer or seller. And good reasons for that fear. Anything complicated, they don't want to hear about, because they sense opportunities to get ripped off. That's especially true right now after so many people got ripped by the lenders.
Everyone had that idea a few years ago,saturated the market and are probably now day-trading so fortunately I managed to bypass the whole cycle completely. But just because something is difficult and requires such demanding actions as 'driving around' and putting their stupid,beaming faces next to a picture of a house doesn't entitle them to get such a huge commission. And why would I want to become a realtor just because they are overpaid?Plenty of occupations are overpaid,it doesn't mean I'm going to change career but it also doesn't mean that it isn't true and I can't say something.
my point was - as with anything - if your time is worth more to you than the cost -do it yourself or find another way.
Your post is so typical of many posts here on E.T. Folks making statements when they haven't the slightest idea what they're talking about. Most people - obviously including you - are completetly unaware of the cost structure of the industry, and of working as a Realtor. You don't calculate the agent's costs of brokerage fees, errors & ommissions insurance, commission sharing, advertising and signage fees, taxes, MLS access fees, local Realtor association fees, state license fees, continuing required training, fuel and auto expenses, etc. etc. etc. etc. etc. Every Realtor pays these fees. Which is why most don't break even, a few do well, and the average makes about 35K a year. Probably very close to the statistics of independent traders. In addition to the costs, you're on call 24 hours a day, scheduling and negotiating with brokers, lenders, banks, insurance companies, title companies, inspectors, termite companies, roofing companies, plumbers, buyers who lie, and sellers who are unreasonable. And...you are legally accountable to the state and to your client for any screwup. And on top of it all, there is never a guarantee that your work will result in income, no matter how many hours you put into it.