Navigating Major Shifts in Real Estate: How to Prepare for Changing Buyer Commissions!
There are some significant changes happening in the real estate industry:
If you've been following the Zillow lawsuit, you might know that recently, two major players, Realogy (which includes Coldwell Banker, Century 21, and Sotheby's) and RE/MAX, settled this lawsuit. While other companies and the National Association of REALTORS are still part of this ongoing lawsuit, these two giants settled for substantial amounts—Realogy for 85 million and RE/MAX for over 55 million.
But what's more crucial is what they agreed to within the settlement itself, not just the financial aspect:
They've agreed to give sellers the option to not pay buyer agent commissions (BAC) when listing their homes. This means that when a property is listed on the MLS, sellers can choose to set the buyer agent commission to zero.
Imagine this scenario:
In your market, a significant portion of sellers start opting not to pay a buyer agent...
Fresh Ideas. New Scripts. Cool Trends. Fun Times.
Named one of the Top 30 Real Estate Blogs by Feedspot don't miss your opportunity to stay current on market trends, scripts, interviews, and articles.
Ready to Grow Your Brokerage or Team?
Our Leadership & Brokerage Coaching program is tailored to address key areas such as recruiting, retention, culture building, training, support, marketing, technology, and profitability.
In two one-hour monthly sessions, you will dive deep into these topics, guided by a core curriculum of ideas and unlimited time for questions and idea-sharing. These small group sessions provide a unique opportunity to connect with other like-minded office leaders, sharing experiences, and supporting one another's growth. You are encouraged to bring guests such as staff, sales managers, and ownership teams to these events.
To ensure maximum accessibility and convenience, every session is recorded, and comprehensive notes are provided for your reference.
Recent Posts
