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“It’s a perfect storm for real estate agents,” said Glenn Kelman, chief executive of Redfin, an online brokerage in Seattle. “Not only have unprecedented numbers flocked to the profession, but at the same time you have the mortgage meltdown, the housing bubble bursting, and online competitors attacking the commission structure.”
Traditional real estate agents, who depend entirely on commissions, “are beset on all sides,” Mr. Kelman said.
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Traditional real estate agents, who depend entirely on commissions, “are beset on all sides,” Mr. Kelman said.
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