Interesting Paper on Current Real Estate Commission Models

Here is an excellent paper on real estate commission model. It's well worth downloading and reading. It's main point is that the inefficiency in real estate costs consumers 30 billion dollars a year.

Already it is raising issues within the real estate agent community such as Inman Blog, where this great post is located...

This is scary...

" Realtors probably practice more law than he has ever dreamed of."

and this goes directly against all NAR ethics...

Article 13
REALTORS® shall not engage in activities that constitute the unauthorized practice of law and shall recommend that legal counsel be obtained when the interest of any party to the transaction requires it.

Anyway the paper is a great wealth of information and contains lot's of references to studies and other papers written about the subject. If you are an agent or an alternative real estate model it's worth a read of the 77 pages.