22. The Wagner Report: NAR Lawsuit And The Future Of Real Estate Commissions

Send us Fan MailWe are releasing a new series of episodes that are labeled the "Wagner Report", which are solo shorter episodes with Jason Wagner.On today's show, Jason dives into the National Association of Realtors (NAR) lawsuit, specifically the Sitzer/Burnett trial, involved allegations of collusion over commission rates between NAR and many large brokerages. The jury found the defendants guilty, resulting in an initial order to pay $1.78 billion in damages, which could potentially increase to more than $5 billion upon the judge's final ruling, along with policy changes​.Jason shares his thoughts on how this ruling will upend the industry and alter the way real estate agents get paid moving forward as the burden of real estate commissions will likely shift to the buyer's responsibility .  Ultimately, the agents that can provide value to their clients are going to be the ones that excel in this new market. While the agents that struggle with identifying what their value is, will likely be without a job.