Real Estate Cartel: Anti-competitive practices deny consumers $50 BILLION annual saving
#NCPW: In 1997, two years after #RealEstateCafe opened it’s 1,200 SF storefront in Cambridge MA, just 2% of buyers found houses themselves, now it’s half. Given internet efficiencies, Mark Nadel asks:
“Why haven’t inflation adjusted commissions falling dramatically?”
Whether you’re a homebuyer, real estate innovator, regulator, or attorney interested in breaking up the real estate cartel, aka #RECartel, use the link below to access this exhaustive analysis of the industry’s anti-competitive practices:
http://bit.ly/Nadel_AntiCompetitiveRE (share on social media)
Invite readers to share their favorite quotes on social media this week, National Consumer Protection Week to empower consumers, both homebuyers and sellers to SAVE MONEY. How much? Nadel writes:
“…a competitive marketplace could reduce commissions by more than 50 percent, consumers could expect to save as much as $50 billion/year”
page 114, Obstacles to Price Competition in the Residential Real Estate Brokerage Market
Stunning! What’s the best way to make progress towards that goal? How about friendly-competitions — use today, March 1st to launch a virtual Million Dollar March.
More on #RESavingSprints later this week!
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