Admin

What's Your Biggest Challenge Post-NAR Settlement and Current Market?

By
Services for Real Estate Pros

Dear fellow real estate professionals,

The dust is still settling from the 2024 NAR settlement, and we're all feeling the ripple effects. As we navigate this new terrain together, I want to hear from you directly. What's keeping you up at night? What unexpected hurdles are you facing given the current market?

Is business as usual? Maybe interests rates are affecting you? What's at stake now? Or do you get the feeling maybe you've somehow have been decoupled and soon to be automated ?

To kick-start our discussion, here are some challenges we might be encountering:

  • Adapting to new commission structures
  • Facing increased competition
  • Meeting new transparency requirements
  • Keeping up with changing regulations
  • Shifting consumer expectations
  • Integrating new technologies
  • Dealing with market uncertainties
  • Managing legal and compliance concerns

But this list is just the beginning. Your experiences and insights are invaluable. Whether you're a seasoned broker or a newcomer to the field, your voice matters.

Share your thoughts in the comments:

  • What's your biggest challenge right now?
  • How has the settlement affected your day-to-day operations?
  • What unexpected issues have you encountered?
  • What strategies are working for you in this new landscape?
  • What resources or support do you need most?

Let's turn this comment section into a powerful resource for our community. By sharing our experiences and brainstorming solutions together, we can emerge stronger and more adaptable than ever.

Your turn: What's your post-settlement story?

Show All Comments Sort:
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Only one-- extra paperwork with new buyers.  I am have no real challenges with the changes.   

Oct 20, 2024 04:57 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Good morning. I echo what Michael Elliott said... the tsunami of new paperwork is insane.

Oct 20, 2024 05:26 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning,

I'm not finding any great new challenges but the extra paper work is insane! We have taken so many classes on what paper work to use and I have a feeling we will have new changes is they decouple the Broker paying any compensation to the BA.

Oct 20, 2024 06:00 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello - while I am no longer active practicing real estate, I do keep my eyes open, and ears tuned in for information.  Beyond the anecdotal, engaging in real estate is not easy even when there are those who say "anyone can do it".   There is a combination of rules and requirements plus mastering effective communication.  Will the industry survive?  Thrive?  I continue to observe.  

Oct 20, 2024 06:39 AM
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, CFSP
Big Block LPT Realty 858.232.8722 - La Jolla, CA
Coastal San Diego, Veteran's & Retirees Services
  • Adapting to new commission structures: it's not new. It's just better defined.
  • Facing increased competition: it's actually less competition.
  • Meeting new transparency requirements: they are not new, shaking my head at this one.
  • Keeping up with changing regulations: the classes are abundant, no worries.
  • Shifting consumer expectations: They have always been changing, nothing new.
  • Integrating new technologies: technology has always been a part of my career, nothing new since 8/17/24 to speak of.
  • Dealing with market uncertainties: 😂 when has there ever been a certainty in real estate (2007-2012) for example.
  • Managing legal and compliance concerns: same as always, nothing new
  • What's your biggest challenge right now? I've used the buyer/broker for 25 years+ so the changes are a beautiful thing for me. I think it sucks for buyers, but everyone else came out a winner.
  • How has the settlement affected your day-to-day operations? Made my day-to-day much easier!
  • What unexpected issues have you encountered? Buyer agents having no clue how to submit an offer post 8/17/24 on my listings...the compensation thing seems to have really affected many. So I have to school them more now.
  • What strategies are working for you in this new landscape? It's not a new landscape for me, welcome to my world the last 25 years!
  • What resources or support do you need most? C.A.R. and my broker have always been enough. No new needs.
Oct 20, 2024 08:54 AM
Weksil LLC Real Estate Marketing

Are they flip flopping the AB 2992 language now, As a consumer no longer do I have to sign a buyer broker agreement as a buyer  upfront right ? Only at time of my contract to purchase.. which is it in Cali?

Oct 21, 2024 10:30 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thanks for sharing, make it a great Sunday and enjoy your weekend!

Bill Salvatore, Realtor- Arizona Elite Properties

Oct 20, 2024 10:03 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

I am not an agent but it's been interesting reading the comments. 

Oct 20, 2024 05:06 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Oct 26, 2024 06:16 PM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

I think this situation as well as many others are on the horizon. Agents will need to stay vigilant!

Oct 27, 2024 05:09 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

It’s important to learn from all the challenges, but it’s also important to strengthen your strength at the same time and go from there. I feel

Oct 27, 2024 07:23 PM