A good friend of mine sent me the ad below (he’s in the real estate business himself):
My reply, in its entirety, was as follows:
Yikes.
I’ve got to say, the entire real estate sales industry in an area like this strikes me as grotesquely inefficient.
I mean, why should a small oligopoly be paid so handsomely? Does Mary Gullixson have a particular skillset that is orders of magnitude over another person that could execute such a transaction?
I’m surprised that as “frictionless” as so many parts of the economy have become, real estate maintains the characteristics that would normally be associated with a profoundly illiquid market.
