Two problems with this thought.<p>1) On average in my jurisdiction, people sell their houses once every 10 years. So the 6% Fees would account for only (6%&#x2F;10 = 0.6%) annual growth, not the whole 6%.<p>2) You could compare this to an area where agent fees are much lower. For example, most of my real estate industry experience is in Queensland, Australia where until last year Agent Commissions were capped at 2.5%. If your theory were correct, we would have seen growth rates closer to 2.5%, when in reality they average about 6-8% per annum here as well.<p>I like your thinking though!