Two class action lawsuits filed against the National Association of Realtors (NAR) and four major real estate brokerages allege that commission-sharing practices require sellers to pay commissions for both the buying and selling agents.
The research estimates that a competitive market for commission rates could have saved sellers an estimated $72 billion in 2022, which, in turn, could have been reflected in lower home prices.
According to the Dallas business journal, "Keefe Bruyette & Woods estimates a broad "unbundling" of commissions could trigger a 30% drop in annual commissions for real estate agents, as well as a significant decline in the number of real estate agents doing business."
As an agent, how should you be reacting to this? What should you change about your daily habits with this information? We tackle that on today's episode!
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Free Three Step Guide to More Closings!
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▶ https://www.theagentbridge.com/six-figure-system
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Six-Figure Real Estate School
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▶ https://www.theagentbridge.com/six-figure-school
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CHAPTERS
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00:00 - Commissions Cut by 30%?
02:35 - Focus on What You Can Control
04:20 - Manage Your Media
07:55 - Real Estate in the News
12:20 - Changing? Or More of the Same?
17:24 - Agent Enabled Tech or Tech Enabled Agent
19:40 - Is This Good for Anyone?
22:15 - The Changes Don't Happen Overnight
25:33 - Wrapping Up
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WATCH NEXT
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▶ Don't Waste Time Showing Houses - https://www.youtube.com/watch?v=a7DBOUh8APY
▶ 10 Things Your Lender Doesn't Want to Tell You - https://www.youtube.com/watch?v=bE2lm2YMAI4
▶ How to Effectively Utilize Contingency Offers - https://www.youtube.com/watch?v=TESVW9c84os
▶ 5 Steps to Nailing the Price on a New Listing - https://www.youtube.com/watch?v=RCrzB5646d8
▶ 10 Things Your Broker Doesn't Want to Tell You... - https://www.youtube.com/watch?v=UBA4iVP7FX8
▶ 6 Delegation Opportunities to Scale Your Real Estate Business - https://www.youtube.com/watch?v=YvLa6WEbEfk
▶ Effective Networking (SOI) - Supercharge Your Success - https://www.youtube.com/watch?v=iXgTl1jmq9A
▶ Host A Successful Open House - https://www.youtube.com/watch?v=qYxNjqVzCQo
▶ 5 Steps to FSBO Mastery - https://www.youtube.com/watch?v=L3EDHKNLgDc
▶ 6 Common Reasons Home Sales Fall Through - https://www.youtube.com/watch?v=vq94uJ614Nc
▶ Navigating Inspections and Repairs in Real Estate Transactions - https://www.youtube.com/watch?v=3UDdRQODBJk
▶ 6 Steps to Winning in a Multiple Offer Scenario - https://www.youtube.com/watch?v=e10E3oeGLl0
▶ 5 Things to AVOID as a Real Estate Agent - https://www.youtube.com/watch?v=eAcF_o2MytI
▶ 5 Time Management Tips for Real Estate Agents - https://www.youtube.com/watch?v=Zp4pPe_TkFE
▶ Six Steps to Your First Six-Figure Year - https://www.youtube.com/watch?v=OXhCBzK0zjE
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ABOUT US
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RL is a Fortune 500 executive having served in C-Suite roles for multiple billion dollar organizations. He is a 15-year real estate investor having amassed over 30 short-term, mid-term, and long-term rental properties. He is serving as the COO of Ten Oaks Real Estate, and has been a business coach and leader to thousands of entrepreneurs and business owners.
Brandon is a real estate coach, broker, and leader having closed over 200 million in personal sales. He is the founder of Ten Oaks Real Estate, a residential real estate company with offices in Texas, Tennessee, and Oklahoma. He is a world-class real estate coach and has a passion for helping real estate agents achieve personal and professional success.