>the realtor commission would be around $20,000. That's $20,000 cash equity that is taken out of my hands
Not to defend the current real estate industry too much, but if the sellers were not paying $20k for a buyer's agent, the price of the home would likely just be $20k higher. That's an extra $20k that the sellers would get to keep. If they kept the price the same with or without an agent, that would seem to be some pretty irrational behavior. They'd be giving up $20,000 for no reason!
A rational seller is selling for as much as the market will bear, and are only paying transaction costs that they absolutely have to. Again not defending the current system at all- the sellers are the ones who who are paying too much in this case
Not to defend the current real estate industry too much, but if the sellers were not paying $20k for a buyer's agent, the price of the home would likely just be $20k higher. That's an extra $20k that the sellers would get to keep. If they kept the price the same with or without an agent, that would seem to be some pretty irrational behavior. They'd be giving up $20,000 for no reason!
A rational seller is selling for as much as the market will bear, and are only paying transaction costs that they absolutely have to. Again not defending the current system at all- the sellers are the ones who who are paying too much in this case