So I do agree with you from a certain point of view, but from another point of view, 3% seems too low.
Consider that this is a very large transaction for an asset that changes in price over time, and no two homes are the same. Even buying cars usually involves a lot of negotiation. I got 15% off after negotiating my car price and a house is 10 to 20x what I paid for the car. The idea of ensuring you get your best price is worth introducing an expert. Sure, ML might solve home pricing eventually, but you still have to communicate, justify and sell it at that price, which is going to be something you want an expert to do. All of this doesn't even touch on the game theory aspect of auctions and bidding. It's a big mess.
To call the average real estate agent and expert at anything is a joke. Every generation seems to have this outrageously vapid profession that mediocre people take up (and more often than they truly deserve, make buttloads of money from) and perpetuate for no reason other than their own existential worries. For the current and past generation the real estate agent seems to be that, and I can see crypto Bros being the next generations one..
Consider that this is a very large transaction for an asset that changes in price over time, and no two homes are the same. Even buying cars usually involves a lot of negotiation. I got 15% off after negotiating my car price and a house is 10 to 20x what I paid for the car. The idea of ensuring you get your best price is worth introducing an expert. Sure, ML might solve home pricing eventually, but you still have to communicate, justify and sell it at that price, which is going to be something you want an expert to do. All of this doesn't even touch on the game theory aspect of auctions and bidding. It's a big mess.