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Each week on The Download, Inman’s Christy Murdoch takes a deep dive into the week’s most-read articles to give you what you need to face Monday head-on. This week: Learn about the Sitzer plaintiffs | Plan for future changes with Mr. Barnett.
If, like many of Inman’s readers, you have been following Sitzer’s play-by-play with bated breath, you may have found yourself cringing at the daily arguments and counterpoints of this unfolding story during the Barnett trial.
Now, as the arguments settle down and the jury begins deliberating, it’s time to pick your head up and get busy thinking about your next steps. After all, don’t think about your response until after everything is said and done. If you want to be truly competitive in tomorrow’s real estate market, you need to stay positive.
One thing we’ve all learned over the past few weeks is that communication is key, whether it’s how we communicate with our clients or what we learn from our trainers and coaches.
- If you’re an agent, you need to create content to communicate with leads and clients about the outcome of a case.
- If you’re a team leader or broker, you need to think about how to support your agents with the latest training, strategies, and client communications.
- If you’re a trainer or coach, you should scour past content and online platforms for anything that now sounds like bad advice.
This week on The Download, we’re ready to ask the right questions and start taking the right steps to prepare for what’s next.
They’ve wreaked havoc across the industry, but who are they? As part of our gavel-to-gavel coverage of the trial, Andrea Brambilla reveals that nearly 500,000 people are claiming nearly $2 billion in damages. profiled the Missouri plaintiffs representing home sellers.
The rule under scrutiny is the NAR policy, variously known as the participation or cooperation compensation rule. This law requires listing agents to provide some form of compensation to buyer agents for submitting properties to the MLS affiliated with the real estate agent.
The problem here is not that the service is bad. All plaintiffs stated that they were satisfied with the service of the agencies they worked with. Rather, they challenge the idea of paying buyer’s agents to negotiate against their interests, driving up costs and minimizing sales profits.
As juries begin deliberations, agents and brokers are using some of the information uncovered from previous trials to see what happens next. Whatever the verdict in this case, there will likely be appeals and arguments in addition to other upcoming cases that address many of the same issues.
Therefore, it makes sense to get ahead of potential future adjustments by considering how you currently do business, the content you create and share, and the coaching and training materials you use. After all, the more agile and proactive you are, the better you will be able to respond to whatever comes next.
58 Questions Agents Should Ask About Commissions
broker Kara Amer helps you think about the impact of the current bombshell fee lawsuits, from buyer violations to paying MLS rules (or lack thereof), and what it means for your business .
