The Department of Justice is your friend.

The Antitrust Division of the Department of Justice launched a new Web site today to educate consumers and policymakers about the potential benefits that competition can bring to consumers of real estate brokerage services and the barriers that inhibit that competition.

Among its features, the Web site includes maps identifying states with real estate laws that can inhibit competition, a calculator to help consumers tally their potential savings when brokers pursuing new business models compete for their business, and links to additional government resources. The address is: https://www.usdoj.gov/atr/public/real_estate/index.htm.

The website shows how the typical real estate agent gets paid, compares the current average commission to that of a couple years ago (hint: it’s gone up), and talks a lot about competition (or lack, thereof) in the business.

My favorite section?

Consumers Can Save Thousands of Dollars in Commissions

It compares the “full-service” brokerage with the “discount” brokerage to selling your home, yourself, and how you can save on commissions, if you do.

You know, I haven’t ever had a client ask me to discount my commission. Do you think that’s odd?

Hmm. I don’t know. Maybe they don’t ask because they already assume my answer?

Source: Department of Justice, Antitrust Division – Competition and Real Estate

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Updated: 1st Q 2018

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