I was also going to say that from an economic standpoint, agents tend to make a rather low median income even if the commission is really high, simply because the realtor job is very accessible. (There is a tight correlation, if not simple causality, between home prices variations and the variations of the amount of realtors)
Acquisition becomes proportionally harder the bigger the commission is because of the amount of people it attracts.
Conversely, if you reduced the commission by law to half, you would lose a lot of realtors, which could reduce liquidity and thus the value of the homes.
I was also going to say that from an economic standpoint, agents tend to make a rather low median income even if the commission is really high, simply because the realtor job is very accessible. (There is a tight correlation, if not simple causality, between home prices variations and the variations of the amount of realtors)
Acquisition becomes proportionally harder the bigger the commission is because of the amount of people it attracts.
Conversely, if you reduced the commission by law to half, you would lose a lot of realtors, which could reduce liquidity and thus the value of the homes.