Comment Re:Meh (Score 3, Insightful) 144
I've had wildly varying experiences. The first one I used didn't really do much of anything I couldn't (or didn't) do myself. He looked up things on MLS, sometimes took me to houses that were terrible (a neighborhood where all the houses had bars on the windows, a house with a big hump down the main hallway). He did no negotiating and had no real advice to give on what we should offer. The second was better but made mistakes that could have been huge. I had to argue with him over a contract that he sent that said that the house I was selling was the house I was living in, when I had never lived in it. Obvious error. He couldn't see it. My last one was really good, but I also made it easy. Basically, "I think I want to buy this house. Can you show it to me? Yes, I do want to buy it. Sold." After we bought it, the seller's agent sent a postcard to everyone in the community (that I now lived in) bragging about getting a list price sale, when she had nothing to do with me buying it AND was unreachable when we were trying to look at the house and had trouble getting in. And they'd already cut the price on the house, so it was less "list price" and more "lowered it until it was reasonable". I don't think the seller got 6% of value out of that agent.
Personally, I agree with people saying paying $30,000 commission to sell a $500k house is a little nuts. The real estate market around here was on fire last year and selling a house took basically no effort. Put it on the market and you'd get multiple offers at list or higher. Your land example was the opposite. That agent earned every bit of their 10%. I guess that gets to the core of it: they should be paid based on the value they provide. Sometimes it's a lot. Sometimes it's not.