Disappearing Realtors

Back when the real estate bubble was in full swing I had some pretty strong feelings about the real estate business, in particular the idea that realtors were getting paid a 3% commission when they had to do next to nothing because the houses were literally selling themselves.  Of course I ticked off some friends (and strangers) in the real estate business, but even if we disagreed about the merits of the payment structure we did agree that when times got tough a lot of the realtors would disappear because it's tough to make a living when you're getting paid 3% of nothing.

I thought of this when I was speaking with a friend who's a realtor and she was telling me how tough times have been.  She mentioned that this is the time of year for renewing with the realtor association and that the rates had been raised, so she thinks that a LOT of realtors are going to disappear in the next month or so.  I fear she's right.

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