The most noteworthy point in last weekend’s article on foregoing real estate agents was a parenthetical one about the disincentive that brokers have to hold out for top dollar on a sale:

Note, however, that agents don’t always push for the best price. Steven D. Levitt, co-author of “Freakonomics,” and Chad Syverson, both University of Chicago economists, found that real estate agents have an incentive to persuade their clients to sell their houses too cheaply and too quickly because a few thousand dollars more in price won’t yield them a significantly higher commission.

We completely agree. One way to diminish that tendency would be to have several brokers who want your listing to submit their “bids” for what price they think they can sell it for. Then create a sliding commission scale (with quite a steep rate slope) based on how close they come to achieving that price. This would encourage brokers not to throw out inflated numbers in hopes of winning a listing–and would align their interests better with the seller. Do you think that could work?
The 6 Percent Solution [NY Times]