Redfin Direct: Buy a house online without a buyer agent

[Allan Smith]

Will the U.S. ever get to the point not needing real estate agents by using tech? Redfin Direct is rolling out in CA, already in a couple other markets. The house has to be listed by Redfin, but a buyer can log in and purchase the house if they are comfortable without an agent. Seller only pays about 3.5% commission instead of the typical 6%.

I wonder if this means we are getting closer to simpler, streamlined real estate sales. Agents mostly handle the paperwork and client emotions. Would love to see block-chain get involved.

[Russell Brazil]

As any agent who does a descent amount of business can tell you, not likely.  People on this site have a skewed view of things, because its filled with people who buy a house every month. The average person buys 2 or 3 houses in a lifetime, and each time are generally terrified to do so. 

And there is no typical commissions. Average commissions drop during good economies and rise during recessions. Your estimate of the typical is more consummate with a recession rate as opposed to todays rate.