The consumer & agent relationship has changed dramatically over the decades, social media makes it much easier for consumers to do their own homework on any product before purchase, and in real estate that means 98% of buyer know more about most properties they want to see than the agents, and even if they are going to purchase a particular piece of property, also pertinent due diligence such as pre-approvals, record searches, tax records etc. are all accessible by social media within minutes.
Many already understand that the norm of certain commission amounts (6-7%) are outdated and will be changing to reflect that the agents are now over paid at those amounts when the consumer is doing all their own work. The agents do less work but yet we still pay them the same, Why is this people? Because it was once the norm?
This day and age is all about new technological advances, one of these new advancements will eventually set new standards at a different level and agents will be scrambling to accept any commission that is willing to be paid by the consumer, while allowing the consumer to keep their profits in their own pocket which is a greater benefit.