The analogy here would be trying to write a giant enterprise piece of software ... without the benefit of any experience as a developer
Where I'm from (the UK), people don't try to write giant enterprise software without any experience as a developer. They _do_ buy houses without a buyer's agent, and have done so for a long time, without problems.
There _are_ special functions which require the help of professionals:
- Conveyancing: actually executing the sale and ensuring ownership is transferred. This is dealt with between two lawyers, one on each side.
- Surveying: checking that the property is in sound condition and, if the property will be financed by a loan, appraising the value to ensure it's suitable security given the size of the loan.
Each of these services are provided by regulated professionals (solicitors in the first case, chartered surveyors in the second). Each are subject to a flat fee (i.e. not related to the sale price) which is the hundreds of pounds (not thousands).
I don't see how the US market is so structurally different (vs. the UK) that (i) the buyer needs an agent, and (ii) fees are so high.
Where I'm from (the UK), people don't try to write giant enterprise software without any experience as a developer. They _do_ buy houses without a buyer's agent, and have done so for a long time, without problems.
There _are_ special functions which require the help of professionals:
- Conveyancing: actually executing the sale and ensuring ownership is transferred. This is dealt with between two lawyers, one on each side.
- Surveying: checking that the property is in sound condition and, if the property will be financed by a loan, appraising the value to ensure it's suitable security given the size of the loan.
Each of these services are provided by regulated professionals (solicitors in the first case, chartered surveyors in the second). Each are subject to a flat fee (i.e. not related to the sale price) which is the hundreds of pounds (not thousands).
I don't see how the US market is so structurally different (vs. the UK) that (i) the buyer needs an agent, and (ii) fees are so high.