Agents pay their agents more
From Times wire reports
America’s an expensive place to sell a house, with average realty commissions running 45% more than those charged in other developed countries, according to the AEI-Brookings Joint Center for Regulatory Studies in Washington, D.C.
Since the U.S. housing sector started booming in 1991, the average realty sales commission has fallen from 6.1% to 5.1%, but the dollars collected have soared, found the report, “Paying Less for Real Estate Brokerage: What Can Make It Happen?” Realty commission revenue has outpaced inflation -- 51% compared with 39% -- from 1991 to 2004.
