Change is Inevitable, Adapt and Thrive.
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Change is the only constant in real estate.
With the recent verdict from the Sitzer Burnett lawsuit, agents are feeling uncertain about the future. However, there are always opportunities for those of us who can demonstrate our value and adapt.
While the verdict aims to abolish seller-paid buyer commissions, the National Association of Realtors promises a lengthy appeals process. Though the implications are unclear, change is certain.
This change forces conversations that some agents have long avoided. Buyer representation agreements, once taboo, will likely become mandatory in coming years. Though this change seems daunting, it provides an opportunity. Agents who can clearly convey their value as buyer representatives will thrive. Perfect your buyer consultations and representation agreements now, before they are required.
Four action items you can take right now:
Don't panic. Get out of the comments section of social media and remember, change brings opportunities.
Diversify your lead sources, especially for listings.
Quantify and practice communicating your value-add as a buyer's agent.
Stop wasting time worrying. Get out there and start the client conversations that will future-proof your business.
Mark my words: The professional, hard working real estate agent will thrive; especially those with a process and a system.
Though the future is uncertain, your commitment to clients need not waver. Demonstrate your value, adapt to change, and your business will thrive in any market. The present moment is a gift - embrace it with optimism and action.
