How the NAR Class Action Commission Lawsuit Has Fundamentally Changed the Real Estate Industry
Ready to get a handle on what this NAR class action lawsuit is, what it isn’t, and how it will affect your future, keep reading!
One of the biggest topics in the real estate industry right now are the proprietary antitrust class action lawsuits against the National Association of REALTORS® (NAR) and the four largest national real estate brokerage franchisors and networks – ANYWHERE Real Estate, Inc. (which owns brands Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby’s International Realty®), HomeServices of America, Inc., RE/MAX Holdings, Inc., and Keller Williams Realty, Inc. Things are happening fast, and the real estate industry is trying to keep up as these settlements and hints at future rulings fundamentally change how real estate agents will do business not just in the future, but for some, immediately.
For example, Anywhere agreed to no longer require its company-owned brokerages, franchisees, or affiliated agents to be members of NAR. They will also not be required to follow the NAR Code of Ethics or MLS rules. Additionally, they will now mandate that its brokers and agents clearly disclose to clients that real estate commissions are fully negotiable, not set by law and eliminate any minimum commission requirements for its owned brokerages.
So, what does all this mean to YOU?
How will your business practices HAVE to change in the wake of these lawsuits? That’s what we are here to help you with.
It’s imperative to get ahead of the curve to fully understand the implications of these industry changes and learn how you can not only compete in the new market reality – but leverage these changes to INCREASE your business.
That’s why we put together a powerful webinar on demand, Buyer’s Agent Beware: What You Need to Know About the New Commission Model to help agents from all over the country dive into what they NEED to know to navigate these changes and the tools and skills they need to put in place to do that with more confidence and less fear.
In this training session you will learn how to:
- Get More Listings: Step-by-step strategies for explaining commission structures to homeowners, ensuring understanding and trust.
- Empower the Seller’s Agent: New perspectives on compensating selling agents that are both fair and enticing.
- Present Buyer’s Agency Agreements: A structured presentation to buyers so they see the value of hiring you to be their agent.
- Handle Commission Objections: With this new commission model, you will have no problem handling the seller’s objection that we cost too much.
Here’s what agents are saying:
“Clearest explanation I’ve heard yet of what the lawsuits are about! I’ll definitely be reviewing the slides again on this one! Thank you, Darryl!” – Kris Mitchell, KW Ellis County
“Best explanation of the situation and very helpful forms to deal with the inevitable changes we are facing as agents in the real estate industry today.” – Neale Obedin, RE/MAX Northwest Realtors
“Excellent session! Thanks for being on top of the constant changes in the industry.” – Dorothea Mary Dobos, Coldwell Banker Realty
“Just listened to Darryl’s webinar. I never cease to be amazed at the quality of the information and tools that Darryl and his team provide his Power Agent® members. Gosh you guys are amazing. Thank you!” Clark Niblock, Niblock Company Inc.
This session is packed to the brim – so grab a notepad and pen, you’ll want to write down every strategy you need to remove any fear you might have about this change and replace it with a solid ACTION plan! Click below to register to watch this empowering training on demand!
We have future trainings already scheduled as well that you’ll want to put on the calendar so that you can stay informed and competitive about this topic! See them all and register at www.PowerAgentWebinar.com
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Contact our team today to sign up or get the answers you need: (631)929-5555!