NAR failed us all!

[Elvis Occ]

NAR capitulated and settled. Billions of dollars gone! Membership money? On top of that, NAR have not said or sent any instructions to his members on how to safely proceed with a real estate commission beginning July 2024. Do's and don'ts? New Forms? Regulations?

[Marcus Auerbach]

What would have been the point? It was the right thing to do. We have always been very transparent in Wisconsin, but it was not fair to experienced agents getting the same % as someone who just got licensed or is a hobbyist. 

Now we get to set our own buyer side comission, which is great! As long as it was "free" buyers often worked with a family member, now that it costs money buyer agents will have to interview to get the job, which means a lot of agents will be gone. The old system has protected the incompetent and kept them alive. That's gone.

Who looses? First time buyers. Sellers are not going to make their listing 3% cheaper, which means to save up 3% more. For an FHA buyer that's double. That means more renters.

And also new investors. Quite frankly, we do so much coaching with new investors under the umbrella "buyer representation" and not getting paid for it. I am basically giving away 15 years of experience away for free. Contractor connections, which have cost me thousands to build, because I had to go through a lot of bad ones. Rehab tips I have accumulated over 15 years or BRRRR.

Now the market can decide if they want to work with someone who has a lot of personal experience as an investor, or - if they want to be self representing and don't need an agent at all.