NAR settlement effect

[Kris B.]

Question for agents. What's your take on no more 6% commission and how this will change the way you operate?

[Jason Tinder]

Quote from @Stephen Montez:

Quote from @Kris B.:

Question for agents. What's your take on no more 6% commission and how this will change the way you operate?

Agents who provide the most value to the marketplace have nothing to worry about and still going to command the majority of business. Just getting rid of a lot of the agents who are one-foot out of the door any way or those who were getting by doing the minimum. As someone who's focused on building out a business for decades to come -- I'm thankful for there being a higher standard we should all be held to. 

PS - Commission rates were and are always negotiable, its a misconception that ONLY 6% could be charged or that it could no longer be charged  -- I wouldn't be shocked to still see 6% commission rates moving forward. 

 I drives me mad when agents claim "comission rates were always negotiable". We just had a giant lawsuit that showed how difficult it was to negotiate the fees, and the steps realtors took to prevent buyers from easily doing so. And how the system would create negative outcomes for those who did negotiate lower fees.