Tough conversations are never fun, but they come with the territory when you are an agent. Among the list of topics that real estate professionals may encounter in their work, a more controversial one may be unavoidable in the coming months.
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Outstanding essay, Jordan. I’ve been in the real estate industry since 1992. Mostly as an investor, but the last 15 years as a realtor. Although commission percentages are at a 10-year high, it was a matter of time for something like this lawsuit to rear its head. I’m surprised this one event is not getting more new coverage. After all, real estate the the largest purchase in ones lifetime. This is a BIG deal (whether the lawsuit wins or loses). CHANGE will come from this in one form or another. As for us 1.6 millions agents in the US, sure we are not excited if this lawsuit and claim happens… but as an advocate for change, I embrace sharing this issue with as many people as I can. It’s better to be informed, or perhaps be the informer… than to be sideswiped after it happens. Great essay. Thank you.
Jordon, your article has provided valuable insights that have helped me address the fear that has been growing within me over the past few months. Transparency is important to me, so I make it a point to disclose how I am compensated and how commissions are shared with other agents. However, I am still a little confused about the distinction between real estate agents and Realtors and how this will impact both parties involved. Nevertheless, this realization has prompted me to have more thorough discussions about commission with my clients and to strengthen my relationships with fellow Realtors during transactions.