New realtor-real estate rules

I’ve read and listened to lots of explanations about what the recent legal decision about real estate and realtor compensation means, and I can’t say I still quite understand what it all means to me as a builder, me as a real estate broker.  What I do know is that any decision that peels back the monopolistic and anti-competitive aspects of buying and selling a home is fine with me - it literally makes no economic sense that every agency in the country charges 6% - that makes no sense that compensation percentage doesn’t vary region to region or brokerage to brokerage.  No other service or product has a sticky, shared price for their services, be it legal, cleaning, trucking, book-keeping and every other product in the world.

(converting my 2 car garage into a big recreation room and then building a new garage to house the vehicles. I've been farting around with my house and property since I bought it in 2018, when we moved to Milford for the school district).

Clearly there is little reason that Hudson Valley realtor made 6% when house prices were at $525k and now that that same house is $850k, they are still charging 6%.  Clearly there is no more work being done, advertising costs the same, ‘keeping the lights on’ isn’t that much more expensive, and since all the agents are self-employed contractors, the costs of insurance, payroll, and benefits haven’t played a part.

It’s just a weird industry with upside down incentives, charging way too much for what they do and offer.  And the idea that someone with 20 years of experience and hundreds of deals under their belt charges the same as someone’s first deal is nonsensical.  

I guess the legal ruling has something to do with the buyer’s side of things, where the seller of a house is no longer forced to pay the compensation for the person buying the home and their realtor representation.  That creates problems since when the seller was paying, then the buyer could wrap the whole thing up in their mortgage, but now they will need to come with extra funds, outside of their mortgage, to pay their representation.

All in all, letting the free market work with most likely create all sorts of new arrangements, fee schedules, and representation strategies.  Probably will drive a few people out of the industry, which will create more business for those that remain.  Who knows, maybe it will drive a bunch of people out of the industry.

I know for me, and how hard we work and the real effort we put into creating a successful project, to see someone want to take $50k or $60k just because someone happened to call their brokerage and wanted to see our home which then sold itself, the value proposition was always ass backwards and without economic logic - the definition of a monopoly.

Not quite sure how it’s going to play out, but for has the potential to shake up the real estate industry for sure.