Turn NAR Settlement Challenges into Opportunities For Your Real Estate Business

    The recent settlement between the National Association of Realtors (NAR) and the Department of Justice has sparked discussions across the real estate industry.

    While there are concerns about potential impacts, there are also potentially positive aspects for real estate agents to consider.

    Anytime an industry experiences a disruption, innovation within the industry rises to meet these changes, and this time will be no different.

    The following are some thoughts to consider as you navigate the changing real estate industry landscape.

    Commission flexibility

    With more flexibility in commission structures and compensation arrangements, agents have the opportunity to differentiate themselves and offer unique value propositions to clients.

    This could incentivize agents to enhance their services and find new ways to add value throughout the home buying and selling process.

    If you don’t provide your clients a complete list of your services (including value-added) during the listing presentation, get one together.

    Now more than ever, buyers and sellers need to understand the irreplaceable level of value and expertise you provide for them.

    The Market Update Series is shown above. To learn more, Click Here.

    Increased transparency

    The changes brought about by the settlement may lead to more transparency and clarity for both agents and consumers.

    By removing blanket compensation offers and encouraging negotiation, the settlement empowers agents to have more open discussions with clients about commission rates and compensation structures.

    This transparency can help build trust and foster stronger relationships between you and your clients.

    New business models

    The settlement could result in a more dynamic and adaptable real estate market.

    With increased flexibility in commission arrangements, agents may have the opportunity to explore new business models including fee structures, partnerships, collaborations, consulting, and value-based services.

    This could lead to a more resilient and innovative real estate industry that is better equipped to serve the needs of clients in an ever-evolving market landscape.

    While the NAR settlement presents challenges, it also offers opportunities for real estate agents to innovate, build trust, and adapt to a changing industry landscape.

    By embracing these changes and leveraging them to your advantage, you can position yourself for success in the coming years.

    When you have time…below are some marketing tools to help support your success.

    1. Put Your Real Estate Business a Step Above with Your Own Branded Magazin

    Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct, response-driven articles written by real estate industry experts and engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you. Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card!Click Here

    2. The Free 6-Month Done-For-You Strategic Marketing Planner

    The Real Estate Marketing Planner is a powerful 6-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

    3. The Free Online Real Estate Business Plan

    The Real Estate Business Plan allows you to enter your business goals for the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your financial goals.   – Click Here

    4. The Become a Listing Legend Free eBook 

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    Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

    Lisa is an accomplished marketer with years of expertise in direct response marketing, digital marketing, data analytics and business development working with both B2C and B2B.