Unpacking NAR Settlement And Buyer Agency

Join eXp leadership as they dive into the recent NAR settlement and what exactly it means for real estate agents. This presentation will bring clarity to you, your buyers and your sellers.

#eXpProud

Chapters:
0:00 Introduction
2:36 The Settlement
6:00 In Practice
10:15 Updated Practices And Moving Forward
18:37 You MUST Ask For Concessions In The Contract
20:41 Treat Your Buyers Like You Treat Your Sellers
22:36 What Can You Do Today? Working With Sellers
33:30 What Can You Do Today? Working With Buyers
38:08 What Industry Changes To Watch For Next
40:16 What's Next From eXp?
42:07 Get On The Train! eXp Exclusives
43:15 Q&A
56:20 Big Agent Meeting Link
58:30 Wrap Up

[davemoll]

Glad to see you are "excited" about the ruling. Do you work for the Government?

[FinesseSoCocky]

I’m a new realtor it seems like I came in at a tricky time but I’m happy because i believe I will survive and thrive this 😊😊.

[mariacristinacarvalho]

Congratulations EXP. Not with y company but this video is an excellent way to show your competence., 👏🏻👏🏻

[LisaMarieInthe-hr]

"If it is not in the contract, it is not part of the deal"... live by that rule regardless of industry shifts and changes.

[CherylBimini]

Thanks to Holly, I learned to embrace the Buyer Broker Employment agreement from the Beginning! Thanks for always pushing standards up

[jaysengstacken]

This video reads like damage control from NAR.

[cristybritton]

THANK YOU Leo and Holly for your professionalism, your knowledge, and your guidance! So proud to be part of our brokerage.

[bethchiles]

I have confidence that we'll get great guidance.

[mariacristinacarvalho]

I also have add in the contract a out buyers broke agreement, never had a problem.

[ml]

buyers are going to go direct to listing agent and bypass paying any buyer's agent commish. you can try the seller credit angle but bottom line buyer agent commish is going to crash to flat fee and will not exist as before.

[scottalancummingsmba-realt]

Maybe we should all collectively leave NAR? Isn't this only binding to REALTORS? Does this apply to non-REALTOR agents?

[jackiebadiali]

I think we'll start seeing more FSBO's and buyers (DIY'ers) working together to avoid the commissions. Who's idea was it to sell all our listings to the Big Z and similar websites? When I first got into real estate this floored me tbh. Who can we sue for that ridiculous idea? There's got to be some type of conflict of interest we can find issue with...?

[atlhomeguide]

To be totally honest I don’t see why everyone is saying this is “the end of buyers agents”. All that happened was they made something that was already known, MORE KNOWN. This will encourage more buyers and sellers to try and negotiate compensation (which has already been happening). It’s up to agents if we are going to go for it or not.

[CarlaHamsells]

The fact that sellers are going to be able to negotiate with each buyers agent is going to lead to racism and inequality in certain markets. I have gone with my pre-qualified clients to show luxury homes, and been refused color of my clients skin and my skin. This is not good.

[kellywestrealtor]

"This is such a great thing" Why do I feel like I am being Gaslite? If this was "so great" the NRA would not have been fighting in court. I believe this will be hurt first time home buyers, USDA, FHA and VA buyers.

[catmini]

"Coolest opportunity"? What?🙄 I don't see it.
Please consider the ramifications of this for New Construction, where licensees representing the Builder/Listing also work with the unrepresented Buyer in 95% of the sales.
And paying a buying agent based on whether the listing agent "likes" the agent bringing the offer is flaky as hell... makes agent relationships the priority over fiduciary responsibilities. Sounds like it'll be junior high all over again!

[americanadvocacygroup]

The impact of this new regulation on real estate agents and brokers is significant and depends on how the National Association of Realtors addresses the situation. If buyers are permitted to find homes on the internet, it is likely that they will go directly to the seller's agent, potentially eliminating the need to pay any commission to a buyer agent.

Conversely, if buyers are not allowed to find homes on the internet, it raises the question of how they will be able to find a home. This could result in buyers being required to hire an agent to assist them in their search, as they have the ability to access multiple listing websites to find their dream home.

[lindseyh]

So what exactly is the benefit for a NAR membership besides the Realtor trademark designation?

[jackiebadiali]

"Treat your buyer like you treat your seller" is great and I always do a consultation with my buyers however, most buyers have limited funds so paying my service fee is likely to cause a financial problem. Creates more competition amongst buyer's agents so our value add will be more important or we stand to lose our buyer to a lower fee agent.

[PaulsPatio]

Shirpa? I must have
Missed that one in the brochure 😮