But what's preventing realtors from defecting and offering their services for a lower rate?
I purchased the home without a realtor, and one of the ways I had a much stronger position was because no one else was being shown the property. (As in, realtors weren’t mentioning it to their clients).
I had a friend of mine who is known locally in the area as one of the best realtors look at the mls and listing, and that was the take I got from him.