Unfiltered Thoughts on the NAR Settlement

The NAR settlement has been a hot topic in real estate. There is still a lot of uncertainty and unknowns. 90+ brokerages still haven't settled. Growth happens outside of your comfort zone. When there is uncertainty, there are 3 options: fight, flight, or freeze. This directly translates to how people in the real estate community are reacting to the recent news. Mark predicts that current high performers are going to excel. Middle performers will either rise to the occasion and fight or they'll flight. Underperformers or newer agents are more prone to freeze or flight. The ultimate goal of the lawsuit is to decouple the commissions. Sellers have always paid commissions to the buyer agent. These have always been negotiable. In many markets, you can already pay out zero. This has eliminated the MLS marketing of buyer commissions. In other words, listings will no longer include what the buyer agent will receive in commission for finding a buyer for that home. This doesn't mean that sellers won't still be paying a buyer's agent commission or through concessions. It just means that the amount won't be advertised. Requiring a buyer commitment shouldn't affect your business. You should be doing that anyway. You can't list a home without listing paperwork, so why would a buyer be any different? All you're doing is solidifying that relationship. There is consistent noise out there on the effects of the NAR settlement. Don't make a decision on your worst day. Do your research. Absorb everything you have heard and then take a look at your business and maybe how that needs to change. Align yourself with an expert that can help you keep perspective. Real estate will go on. You have to ask yourself if you're going to participate or get out? Can you improve your skills and up your game? Here is the good news: the sun will rise and set regardless. What we choose to do with the light is our decision. It's up to us. Journey wisely.