As of August 17, 2024, buyers must enter a written agreement with real estate professionals before viewing properties. Differences exist in services, training, experience, and resources among agents. It’s essential for buyers to understand these differences to make informed choices.
The evolving show-for-free and show-for-fee business models in real estate prioritize profit over consumer education, leading to potential exploitation and undermining the essential advisory role of real estate agents and brokers.
Critics argue real estate agents are overpaid due to generous commissions. However, agents earn through success-based fees, providing extensive unpaid services if transactions fail. Unlike other professionals, agents only earn upon successful deals. Switching to fee-based models could increase costs and risks for consumers without providing the safeguards licensed agents offer, ultimately being costlier.
The NAR settlement has sparked debate over the real estate industry’s future without affecting cooperative compensation or making commissions negotiable, as they have always been. Concerns about increased cash needed for buyers are raised, but home values remain driven by market forces, not agent fees. Nonetheless, realtors remain dedicated to serving clients ethically and professionally in achieving homeownership.
Recently Brad Iman asked Laurie Weston Davis and I to participate in one of the “Provoke” panels at Inman Connect San Francisco. There was some confusion about what we meant by what we said- and this is where I’m going to clear that up!
Companies backed by VC money keep trying to re-invent the real estate industry. Some do little more than raise money and lower the bar, trying to reap profits for the creators. Here is the story of one of them.
Maybe it’s the summer heat, but after reading a recent article on Inman.com entitled “Let’s get rid of the MLS”, I just felt like hitting my head against the wall to relieve the frustration the article generated. – Here’s my response
I love that people read lots of business books to improve what they do. And that they then reach out to accomplish the goals that are set by their reading experience. But books sometimes make simple things complicated in order…
The conversation began by the AgentMatch controversy continues, at a far slower pace since the program was hauled back in for review, but the issue still seems to be confusing to a number of people, including some very smart folks who consult with and to the real estate industry. It seems there is a lack of distinction in the conversations about Reviews, Ratings, and Rankings.
Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window.- Peter Drucker New Year celebrations are arbitrary. We celebrate all over the world, following celebrations…
You must be logged in to post a comment.