Housing Wire

OCTOBER 16, 2023

At the crux of the case is the allegation that commission rates are too high, it’s unfair that the seller pays the buyer’s agent’s commission, and that the National Association of Realtors’ (NAR) Code of Conduct and MLS Handbook lead to set pricing.

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Real Estate News

MAY 25, 2024

Cassie Walker Johnson not only supports buyer contracts, she offers training on them: “This is the tool that will define your entire professional relationship.”

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Buyers Training Agents Contracts 277

Housing Wire

JULY 17, 2024

It means sellers’ agents and brokers should prepare to deal directly with the buyer of an REO property whenever possible going forward. Increasingly in post-foreclosure transactions, this is already being initiated by the buyer. Accordingly, it’s time for sellers’ agents and brokers to prepare to deal directly with buyers.

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Real Estate Agents Training Buyers 493

Housing Wire

AUGUST 1, 2024

have been busy training and preparing to be ready for Aug. Under the terms of the settlement, agents will no longer be allowed to share their seller’s offers of buyer broker compensation on an MLS. Under the terms of the settlement, agents will no longer be allowed to share their seller’s offers of buyer broker compensation on an MLS.

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Real Estate Agent Real Estate Agents Business 448

Housing Wire

MAY 2, 2024

Training and production top challenges Training real estate agents on new business practices resulting from the NAR commission settlement is tops when it comes to brokerage challenges. According to one independent broker in California, there will be a “increase in dual agency with buyers going direct to listing agents.”

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Brokerage Training Real Estate Real Estate Agent 448

Housing Wire

AUGUST 15, 2024

The new rules mandated by the National Association of Realtors ‘ (NAR) settlement of class-action lawsuits related to buyer agent commissions take effect in just two days, and brokerages and MLSs are scrambling to find the best ways to implement them. Next week, the brokerage will offer daily interactive training and role-play sessions.

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Brokerage Training Agents Clients 448

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

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Housing Market Marketing Training New Listings 482

Housing Wire

JANUARY 13, 2023

Going from a volatile rate environment in the latter half of 2022 to a market with lower, more stabilized rates, there’s optimism spreading across the industry that buyers will come back. I really think until we see inventory move in our favor, it’s still going to be a tough market for a buyer. After originating $1.66

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Buyers Housing Market Marketing Real Estate Agent 418

Housing Wire

AUGUST 21, 2024

Our family established Baird & Warner more than a century ago with a mission to serve buyers and sellers with transparency and integrity, and we’ve endured many changes in our industry during this time. Doing the right thing is easy in theory, but often the hardest in practice.

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Real Estate Training Advertising Brokerage 435

Housing Wire

OCTOBER 3, 2024

Conrad discusses best practices for transparent conversations between listing agents and sellers, the value of educating sellers on the new buyer agent compensation agreements , and ways to show your value as a professional agent. She also explores JPAR’s agent training and resource efforts.

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Sellers Agents Training Clients 448

Housing Wire

NOVEMBER 21, 2024

James Dwiggins: How are you adjusting some of the training and education based upon some of these changes? Morris: We’ve been on this mission with NAR, of course, to deliver Accredited Buyer’s Representative (ABR) courses. We’re trying to say that buyers and sellers, in my opinion, are willing to pay you.

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Real Estate Real Estate Agent Sellers Design 369

Housing Wire

AUGUST 22, 2024

Although the process for communicating and dispersing buyer agent compensation has shifted, the industry adapted calmly within a couple of weeks. Instead, it stems from the need to formally consult and contract with potential buyers before opening any doors.

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Real Estate Realtors Contracts Agents 476

Housing Wire

JULY 26, 2024

However, agents are grappling with significant challenges, including low inventory, high interest rates and inflation, getting listings and a step further dealing with reluctant buyers and sellers. Brokers are focusing heavily on agent training and support, aiming to boost productivity and retain top talent.

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Housing Market Real Estate Agent Marketing Training 482

Housing Wire

NOVEMBER 1, 2024

Real estate agents and real estate brokers are both licensed real estate professionals who can assist buyers and sellers, but you should be aware of some key differences and state-specific distinctions. A real estate agent is a licensed professional who represents buyers or sellers in real estate transactions. Let’s dive in!

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Real Estate Real Estate Agent Agents Brokerage 448

Housing Wire

JANUARY 4, 2024

Brokers turn to robust agent training According to our survey, brokerage leaders aren’t sitting around waiting for change to occur. Brokers turn to robust agent training According to our survey, brokerage leaders aren’t sitting around waiting for change to occur. The defendants have been ordered to pay damages of $1.78

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Brokerage Real Estate Training Buyers 448

Housing Wire

OCTOBER 16, 2023

When asked how they were preparing for a worst-case scenario, such as a potential 30% loss of buy-side commissions , per a report done by Keefe, Bruyette & Woods , and an uncoupling of cooperation and compensation, brokers in the study say they are focusing on boosting their value proposition, listings and training.

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Real Estate Brokerage Training Agents 448

Housing Wire

OCTOBER 31, 2024

The business practice changes outlined in NAR’s settlement have been a massive positive for agents, according to Kelly, as it has become more important for them to talk with buyer clients at the start of the transaction process. We’ve always married very strong national training with equally strong regional training,“ Smith said.

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Real Estate Brokerage Agents Training 448

Housing Wire

NOVEMBER 30, 2024

They also explore the National Association of Realtors ‘ (NAR) commission lawsuit settlement , agent training deficiencies and more. There’s been multiple studies showing that compensation is starting to decrease — especially on the buyer’s agent side. The lack of training and guidance by brokerages is horrible.

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Real Estate Training Agents Brokerage 370

Housing Wire

MAY 14, 2024

We found that buyers stepping into the 2024 housing market have much to learn from previous shoppers,” the report stated. Even after navigating the climate of higher mortgage rates and a dearth of available listings, 82% of recent buyers had regrets about their purchase, Clever reported.

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Real Estate Agent Agents Real Estate Buyers 488

Inman

OCTOBER 23, 2023

Marketing expert Rachael Hite dives deep into the complex topic of sales training. With all eyes on how agents are trained to ask for their commissions, time may be up on dated sales practices that push past seller objections to get them to sign on the dotted line.

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Training Sellers Agents Marketing 177

Housing Wire

OCTOBER 3, 2023

As the commission lawsuits heat up, real estate brokers are gearing up to add buyer representation agreements and training, cut costs and hone value propositions, according to RealTrends Q4 2023 BrokerPulse survey. Another 10% are honing their value proposition , particularly as it relates to buyers’ agents.

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Real Estate Brokerage Agents Training 459

Housing Wire

FEBRUARY 23, 2024

Real estate professionals handle a plethora of personal data from buyers and sellers, making them enticing targets for cyber threats. The importance of cybersecurity training An informed and vigilant team is key to combating cyber threats effectively. Michael Lucarelli is the CEO and co-founder of RentSpree.

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Real Estate Real Estate Agent Training Tools 468

Housing Wire

OCTOBER 3, 2023

This is a dramatic and peculiar stance, given that same company a couple of years ago launched a $1 million annual advertising campaign touting a 1% listing fee, but only if the seller turned into a buyer for them. Meaning, they were counting on buyer agent compensation to pay their bills. How, then, will a buyer agent get paid?

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Agents Training Buyers Law 435

Housing Wire

SEPTEMBER 27, 2024

Impact of NAR’s new buyer agency rules : The implementation of new National Association of Realtors (NAR) rules around buyer agency appears to have frozen many agents in place. Brokerages have put recruiting efforts on hold while management focuses on training and support to adapt to these changes.

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Agents Brokerage Training Buyers 445

Housing Wire

SEPTEMBER 13, 2022

Even recently, with technologies like virtual tours or dollhouse-style immersive walkthroughs that provide floor plans, those services can be expensive and require special training and equipment and take a long time to collect data, Allen explains. And it provides major benefits to your sellers and prospective buyers.”.

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Training Technology Buyers Sellers 418

Housing Wire

OCTOBER 18, 2023

The second day of the trial for the Sitzer/Burnett bombshell class action buyer broker commission class action lawsuit included plenty of insights into how the plaintiffs are approaching what is expected to be a battle royal. When you reduce the commission, you reduce the incentive for that agent to bring a buyer to your house.

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Training Agents Real Estate Real Estate Agent 459

Housing Wire

FEBRUARY 27, 2024

Despite this assertion, Reffkin was happy to field questions about the firm’s use of buyer agency agreements during the question and answer portion of the call. He noted that the company has implemented its “largest training program” ever, which saw 20,000 agents go through training on buyer representation agreements.

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Agents Training Brokerage Buyers 448

Cleveland Appraisal Blog

AUGUST 6, 2021

Below is a chart from the National Association of REALTORS article on home buyer regret. Some buyers may be relocating from a different state, and feel pressured to purchase a home sight unseen. It’s not that these pictures are meant to deceive buyers. They are trained to catch things that most people might miss.

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Buyers Property Taxes Inspection Market Value 243

Housing Wire

JANUARY 25, 2024

While the exact mix of agent types you need will vary, this is a good starting point for most brokerages: Producing buyer’s agents: 65% Ideally, producing buyer’s agents should be the bulk of your recruiting efforts. A team or brokerage with nothing but producing buyer’s agents can still be highly profitable.

Real Estate Agent 448

Real Estate Agent Real Estate Agents Brokerage 448

Housing Wire

MARCH 18, 2024

Honing new skills With the settlement agreement including terms like a mandatory buyer agency agreement and a ban on displaying offers of cooperative compensation via listings on the MLS, it is understandable that some agents would like more guidance from NAR on what these terms will look like in practice. More off-MLS listings?

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Brokerage Real Estate Agents Sellers 448

Housing Wire

OCTOBER 4, 2024

Real estate agents : Real estate agents provided insights based on their direct interactions with buyers and sellers. Training agents on new business practices : 16% noted this as a concern. The overwhelming anticipation of declining interest rates offers a glimmer of hope for buyers and sellers.

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Real Estate Housing Market Real Estate Agent Marketing 459

Housing Wire

NOVEMBER 17, 2023

As expected, the plaintiffs are in opposition to HomeServices’ motion, stating that HomeServices’ claim that the “Plaintiffs have no evidence of conspiracy as to any HSD to create, implement, or enforce the [Buyer-Broker Commission] Rule” is untrue.

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Training Realtors Agents Real Estate 448

Housing Wire

OCTOBER 26, 2023

During plaintiff lead attorney Michael Ketchmark’s cross examination of Warner, he presented her with some statistics showing that HomeServices affiliated agents in four Missouri markets paid buyer broker commissions of roughly 3% in at least 88% of the transactions completed between 2015 and 2022. It is human nature,” Frazier said.

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Law Brokerage Agents Buyers 435

Housing Wire

SEPTEMBER 28, 2023

Our market is popular with out-of-state buyers and agents relocating from other states. It’s very difficult to be an unaffiliated brokerage right now and compete with franchises who offer technology and training. Gene Boone will continue to run the firm with his business partner and grandson Owen Boone.

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Brokerage Technology Agents Training 435

Housing Wire

MAY 7, 2024

“The NAR settlement requires some mechanical changes to industry practices, which are entirely driven by training, and when it comes to our agents, we are a training-first company,” Real President Sharran Srivatsaa said. That means we believe a skilled agent will outperform an unskilled agent 10 to 1.

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Agents Brokerage Training Business 459

Housing Wire

AUGUST 19, 2024

According to real estate professionals, the biggest adjustments they had to make this week was to get buyers to sign buyer representation agreements and to explain to sellers that while they don’t have to offer buyer broker compensation , they will most likely see most prospective buyers ask for some help in paying their agent.

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Agents Sellers Realty Buyers 476

Housing Wire

APRIL 22, 2024

He said his company is focused on buyer-side agents, whose activity is expected by some to be impacted by the National Association of Realtors’ (NAR) $418 million nationwide settlement of the commission lawsuits. The change would go into effect in mid-July 2024 if the settlement is approved by a judge.

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Brokerage Real Estate Realtors Real Estate Agent 448