Ridiculous Fees: Fixed Supply, Inelastic Demand and Crafty Estate Agents

Estate agents often charge a fee that is a percentage of the value of the property they're selling. They don't charge for the handful of hours it actually takes to arrange the sale, and they never limit their fee to a portion of the buyer's value of the transaction. Of all professions these people know how to stretch "value" beyond its limits. It's my opinion that estate agents have it easy because they have set a precedent for charging percentage-based, a derivative of value-based fees. Now that every estate agent charges this way, they have manipulated the real estate market.