204: Agents React to NAR Lawsuit Commission Change
On The Market
Agents React to Lawsuit Settlement and Real Estate Market Challenges
Agents' reaction to a lawsuit settlement, challenges in negotiating contracts, high interest rates impact, real estate fund buying spree, and featured advertisements for Fundrise, Vikasa, and TurboTax.
The NAR lawsuit changed the real estate industry overnight. Just like that, buyer’s agents were no longer getting their standard three percent commission, and many investors began imagining what buying and selling homes would be like without realtors. But is this massive NAR settlement as dramatic as the headlines are making it out to be? Is there really an agent exodus on the horizon, or is this just a way for the bad agents to exit the industry quickly? We brought on a panel of top investor-friendly agents to find out.
Joining us are four agents from across the nation: Avery Carl, Craig Curelop, Juliet Lalouel, and Mike Savegnago. All of these agents are affected by the recent NAR lawsuit settlement, but they don’t seem so shaken up. For many of these agents, this lawsuit simply thinned the competition, putting the expert agents back on top while showing the less-than agents the door. Plus, after the recent deals they’ve done, they’re not too concerned about a lack of buyer’s agent fees.
Today, we’re asking each of them their thoughts on the changes to the NAR’s rules, how this will affect buying and selling homes, what this means for real estate agent commissions, and what agents should do NOW to get ahead of the game. Plus, since our agent panel is all investors as well, they give some crucial advice on finding an agent in your area that will help you build your real estate portfolio even bigger.
In This Episode We Cover:
The NAR lawsuit explained and what it means for real estate agent commissions
A “huge exit of agents” and how this could change the real estate industry forever
What to do when a seller offers you or your buyer’s agent a zero-percent commission
What real estate agents need to start doing NOW to ensure they still get paid
The key signs of an investor-friendly agent that any landlord should be looking for
Massive downsides of buying or selling without an agent (it will cost you…)
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Juliet's BiggerPockets Profile
Breaking: NAR Settles for $418M, Buying and Selling Homes Could Change Forever
Check out more resources from this show on BiggerPockets.com: https://www.biggerpockets.com/blog/on-the-market-204
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