Are you ready for the changes that take effect on August 17, 2024?

jamielcash
jamielcash Posts: 711
edited August 21 in Real Estate Career Mentor Community

In a recent episode of the Real Estate Insiders Unfiltered Podcast, the hosts dive into commission-sharing practices for agents, the associated risks, and the alternatives ahead of the National Association of Realtors (NAR) business practice changes that are set to take effect on Aug 17. Watch this video and leave your thoughts and comments below.

https://youtu.be/JbHfRm0EJ-A

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Comments

  • Charles Lee Kaplan
    Charles Lee Kaplan Buyer Agency Professional (BAP) Posts: 16

    Moderator

    🚨

    "Stop trying to find work arounds and use that energy to get better at the craft" - Keith Robinson

    Industry shifts will always give an advantage to those who are willing to learn and adapt.

  • laurenmciccone
    laurenmciccone Licensing, Licensing Career Launcher, Buyer Agency Professional (BAP) Posts: 1

    Vested

    🗣️

    These changes will absolutely have an impact on our industry. But for those who are already brokers, do you find this change is having a large impact on how you do business, or was this something you already had tools and practices in place for?

    Keep an eye on your local MLS/Realtor association as well leading up to this date! For those in the Charlotte, NC area, the MLS here made changes active on 8/1.

    Also keep in mind, it is important to also know the local and federal laws. This does not just have to do with the documents and compensation, it effects business having to do with the laws and statues in each area as well!

  • Jenisvo
    Jenisvo Licensing Career Launcher Posts: 88

    Moderator

    🚨

    These changes are sure to make waves in our industry. However, in Colorado we have always used a Buyer Agency contract AND we know that compensation is ALWAYS negotiable!

    Colorado MLS's will remove the required fields on Thursday the 15th of August. All licensed real estate brokers will need to begin using the updated contracts and disclosures on the 15th as well.

    Change is never easy, but it's through these challenges that we grow stronger. Every shift in our industry presents an opportunity to learn, adapt, and ultimately become better at what we do. Embrace the change, and let's use it as a stepping stone toward even greater success.

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