> But I’ve come to see the 3% on each side as an almost market clearing price
What do you base your claim on? If you increased the fee to 30%, many more realtors would enter the market, the average earnings (per realtor) would stay roughly the same, the sellers would be paying much more, and you'd still have the impression that it's the "market clearing price".
What do you base your claim on? If you increased the fee to 30%, many more realtors would enter the market, the average earnings (per realtor) would stay roughly the same, the sellers would be paying much more, and you'd still have the impression that it's the "market clearing price".