Every state has their own laws regarding real estate. I think every realtor has to be licensed by the state. Every state has its own licensing exam.

In California the standard commission is 5 percent after being 6 percent for decades. Agents have to do more work now to earn their commission probably due to competition.

The agent doesn’t pocket the entire commission. They have to pay the brand and their office plus any referral fees.

I think the benefit of using an experienced agent or agency is legal protection. The reason there are so many documents to sign or docusign is too many lawyers especially in California.

I have an agent who helped me purchase a townhouse as an investment property. She has a very good local reputation. She knows the zip code where she works and lives. Every vendor knows her.

A friend sold his place in 2022 and moved out of state to Florida. During inspection the inspector broke his garage door. His agent knew and called a repair man right away. She was also his neighbor which was a blessing and a curse.

My parents were a buyer for a multi family property in 2002. The realtor represented the buyer and the seller which was unusual and potentially problematic. The seller tried to back out during escrow because they were unhappy with the agent. 5000 bucks and crisis averted.

In 2013 my friend used a Redfin agent to buy his first home. He said it was a bad experience because the agent did the bare minimum. I know this is a common complaint if you hire a friend in any capacity.

I saw a post on Reddit about not using an agent. Instead be your own agent but hire a lawyer to handle the paperwork. How is using a lawyer an improvement?

Zillow business model is based on using agents. Their goal was not to disintermediate but to partner with agents and make money via partnerships with agents. They had a name for this that I can’t remember.

Redfin, Zillow, Trulia, realtor.com: this space is competitive and local.

I am an accidental landlord because I was a silent partner with my dad. After my dad passed away my mom took over his duties. I realized quickly my dad had a lot of experience that my mom lacked. I haven’t cashed out yet due to deference to my parents. My plan is to cash out eventually, make sure my mom is financially set, move to Texas and convert remaining cash to bitcoin.