Real Estate Agents Underpaid?

The video is 100% correct. I thought it's common sense actually.
Seller's agent will always try to get ur house sold quickly and get seller to reduce their price so they could get the commission
Buyer's agent will always to get you to buy the house.

However, the magic word is volume and relationship. Also, you seem to view that video is bad news for seller. So logically it's good news for buyer? Buyer would get the incentive to use agents?
It's gonna be Nash's Equilibrium. that's why the system works and why most people use agents.

if that's all your agent cares about (buyer or seller) you picked poorly. a good realtor wants to develop a good relationship/reputation so you recommend them to your home buying/selling friends.

However, the magic word is volume and relationship.

A good real estate agent offers much more than simply access to locked houses and the MLS. A good real estate agent knows the nuances of the particular market that the potential to-be home is in. They'll know the subtle trends of the overall area and even of the particular streets and individual houses in that area. They'll know whether or not a railroad or airport is or is slated to be nearby. They'll know about issues that are hidden to most people with the home. They'll know why a home hasn't sold in X amount of months. They'll know much of the local real estate law. In short, they know the "story" behind the area, neighborhood, street, and home someone is interested in. In short, they know what the rest of us don't know we don't know.

Concerning buying a home, a good real estate agent knows tips and methods that sell homes faster for more money. Some of this can be found online (such as how to stage a home), but not many people actually know how to do it effectively and of those who do, even fewer are willing to get it done. A good agent helps make it happen. Another area a good agent is very helpful in is pricing strategies. A home owner will make more money if they price their home realistically from the beginning than if they started their home at a higher price and had to lower the price over time. A good agent knows this as well as many other pricing strategies that will get the seller more money in the end.

Coupled with long-term vision, this paradigm brings perspective to the agent's commission in that the money we pay them could pale in comparison to the money saved at closing as well as, and especially, long-term. All of this is compounded when it comes to investment properties since we'd be talking about not only money saved, but money made.

If someone is interested only in buying a functional shelter while disregarding getting the most for their money now and long-term, or in selling their home without concern of selling for the most money and as fast as possible, then a real estate agent is certainly not needed. However, if someone is interested in making a financially and practically wise and sound long-term decision, they may want to strongly consider a real estate agent.

You must be in a fantasy land. Most realtors around here have no idea about the house, or the neighborhoods much less what will be build in the projected future. They dont know how to inspect a house.

They do know...how long its been listed, the comps, etc... Even then, my realtor pulled comps on my property and the comps didnt even come close to what I think would be proper as my property is on a much more desirable street, better neighborhood, etc.

If they bring no value to the transaction, why would you hire one? You can write up the offer yourself. Can you go through the whole transaction without help?

The buyer is not paying the agent anything at all. The seller is. You say that extra 3% going to the buyer's agent can reduce the purchase price. Not all seller will agree to that since they care about maximizing their net.

Agents still make sense and work for their money on the buyers side. But the comment that the modern market tools makes a selling agent nearly useless is spot on. This is why I pay 1.5-2% to the selling agent and 4% to the buyers agent. Pretty much every buyers agent then shows my property to their customer, even if its nothing like what they want.

Do you negotiate this commission split with your selling agent? How receptive were they to this?

You must be in a fantasy land. Most realtors around here have no idea about the house, or the neighborhoods much less what will be build in the projected future. They dont know how to inspect a house.

They do know...how long its been listed, the comps, etc... Even then, my realtor pulled comps on my property and the comps didnt even come close to what I think would be proper as my property is on a much more desirable street, better neighborhood, etc.