Let’s just start by saying that commissions have always been a thing, and they have always been negotiable. As a real estate agent, I have always been honest with my clients about open negotiation. Unfortunately, some others in the business have made it seem like commissions are non negotiable, and that is a huge reason why this commission settlement has come up.
While some might be worried about the future of the real estate world, we’re excited for the outcomes. Here’s why…
You often hear about how people are doing real estate on the side or they are starting to dabble in it as a possible career change. Here’s the thing, this is possible for them to do because the bar to enter into the real estate industry is far too low. All it takes is some studying and a passed test and you’re in. This settlement is really going to weed out the true professionals from the dabblers. This is great for the consumer because you want a true professional in your corner when you are making the biggest purchase of your life.
In addition, have you ever heard of the saying, “you get what you pay for?” Agent’s who have been providing value, on both the sell side and the buy side, are in high demand. Consumers want to work with, and have no issue paying commission to agents who are valuable and experienced. As long as we are deepening our relationships with our people, assisting them through the buying and selling process, and going the extra mile in explaining the contracts, the value will be there.
So, while yes, there is a settlement going on in the real estate world, we wanted to take the time and address it, and ultimately let our people know that as always, we are here for YOU!