Latest / The Real Estate Agent Playbook / Agents Giving Up? How to Navigate NAR Changes and Political Unrest in Real Estate

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Agents Giving Up? How to Navigate NAR Changes and Political Unrest in Real Estate · The Real Estate Agent Playbook

• 0:00
  agents wow
• 0:01
  we are going through so much right now
• 0:03
  obviously then our lawsuits
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  changing our compensation and how we might get paid
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  and all of the confusion and changes around that
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  from state to state from brokerage to brokerage
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  everything is a little bit uneasy there
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  but then we add on to it
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  one of the most ridiculous political climates
• 0:20
  this country's ever seen heading into an election year
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  not to mention high interest rates
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  high prices and everything
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  I'm here to tell you now is not the time to give up
• 0:30
  it is actually the time of opportunity
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  no matter if you've sold zero homes or 500
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  the quicker you adjust and adapt in your business
• 0:39
  the better you'll be
• 0:40
  I'mma tell you exactly how to do that next
• 0:47
  what's up guys
• 0:48
  Jeremy Kane real estate agent playbook
• 0:50
  I'm here with a voice of hope and camaraderie
• 0:54
  and I hope we can all come together as agents
• 0:56
  and understand the sky isn't falling
• 0:59
  if you like the message
• 1:00
  or the messages that I allude to in this video
• 1:04
  please like comment subscribe
• 1:06
  share the podcast if you're listening over there
• 1:08
  that's right
• 1:09
  we are on the podcast growing that community as well
• 1:12
  always here to help you get a win
• 1:14
  every single day in real estate
• 1:15
  and this is a heavy episode
• 1:18
  talking about all the changes and basically a focus
• 1:22
  refocus on mindset as we move forward
• 1:25
  so absolutely the NAR headlines
• 1:27
  they're at the top of the game
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  as we move into August here
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  we are going to see these changes start to take place
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  I understand that in some places
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  some changes have taken place
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  let's keep in mind
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  that the settlement hasn't even been signed off on
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  it's not um you know
• 1:44
  set in stone yet so we could continue to see changes
• 1:47
  but what we do know
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  is that we are moving forward with a change
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  with a more transparent um
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  compensation structure as it comes to
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  pertains to how we get paid and what's going on
• 1:59
  so if that wasn't enough
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  we throw in the presidential election
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  which has been absolute chaos over the last
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  you know six weeks or so this is obviously
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  going to only
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  intensify as we move closer to the November elections
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  so a lot going on
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  not to mention in Colorado and across the country
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  there are hyper local issues that are going on
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  we have a new contract software getting
• 2:23
  contract coming in wow
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  the MLS has been sold from our primary real
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  state boards realtor boards
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  to a private equity firm who owns a different
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  you know contract software and
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  and it could be an absolute
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  massive August as it comes to change
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  especially in the Denver market
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  so how are we as agents to move forward
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  and what are we going to do
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  and I'm here to tell you
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  that we must focus on the controllables
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  so let's start with the NAR settlement
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  the you know commission lawsuit which is now um
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  our compensation is now being referred to as
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  compensation versus commission
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  regardless of what we call it
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  the point is that we are more transparent um
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  when we are setting up a listing
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  when we are showing buyers homes
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  who's paying what
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  all of the things this is now going to be a much more
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  you know fluid situation versus okay
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  you're part of this MLS
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  this is what they've suggested for years
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  and years and years
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  that's probably what the commission will be
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  that will no longer be allowed and to be honest
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  that's okay but as agents
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  when we are going through these state meetings
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  when we're talking to our broker
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  and hearing from our broker
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  we get so hung up on the little details on
• 3:37
  you know
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  where we're gonna put this and why is the seller know
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  and all these things we must focus on the task at hand
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  which is to make our
• 3:45
  compensation model more transparent
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  in the event that you can show your value
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  and you have a unique you know
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  value proposition
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  that matches what services you're providing
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  this should be a positive thing for you
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  because now
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  it's a much more normal conversation to say
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  hey Mr Buyer this is
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  you know what I charge for my services
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  do you agree that this is what I should get paid
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  in order to assist you right
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  it's a free market
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  it's a conversation that we can have
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  and if they say yes and they're obligated to pay that
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  then we don't have to worry about listing agents
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  cutting commissions and things like that
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  so let's really focus on this
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  and let's not focus on listing agents
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  and buyers agents and brokerages and all of this
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  let's focus on the people were here to serve
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  and giving the value to those people
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  buyers Wanna buy sellers Wanna sell
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  our job is to bring them together
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  in a way that will lead to a
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  you know closing
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  a successful closing where all parties feel
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  you know they've been represented and taken care of
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  and so if we step back and really look at that
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  and quit getting you know
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  so caught up in the different nuances of this state's
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  contract and that state's contract
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  and this brokerages position
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  in the end as long as we're saying okay Mr Seller
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  how much you know would you like to offer the buyers
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  agent as a commission split
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  if you can't do that down the road
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  when they give us that rule great
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  but as of right now the way the settlements worded
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  they can still offer compensation
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  it's just about where it's marketed
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  and so we need to focus in on the problem at hand
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  the task at hand
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  and remember what our duty is as realtor
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  as a real estate agent whatever
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  you know professional organization you uh you know
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  are affiliated with
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  what is their position and then obviously your license
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  your license in the state that you
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  you know
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  took the test and pass the test and practice in
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  this is where we really need to dial in
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  and just make sure we are doing what we have to do
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  the honest truth is if we're more transparent
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  it will be better off for a lot of different reasons
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  and people may even start to respect real estate agents
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  more depending on how you care yourself
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  and how you react to these things
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  that aren't necessarily the clients issues right
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  this they don't care about the narloss
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  they don't care about all of this
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  they care about getting into that home
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  and that's your job as an agent
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  so let's step back and stop with the
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  it should be this way it should have been this way
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  we shouldn't do this we should use this form
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  we should use that form nope
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  listen to your broker listen to your state
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  listen to your MLS and make sure that you are
• 6:19
  you know abiding and playing within the rules
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  and you will be just fine
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  focus on what you can control
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  and what you can control
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  most especially concerning the NAR lawsuits
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  is your attitude and your presentation to your clients
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  as you move forward
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  the presentation of your value is of a
• 6:34
  utmost importance now let's talk about political unrest
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  the only thing we can do here is vote haha
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  the honest truth is this
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  is just adding pressure in our industry
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  to the pressure cooker
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  I've seen a lot of people say if this
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  you know guy gets elected
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  all of this is gonna be wiped off the table
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  I don't think that
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  this is at the top of any presidential uh
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  cabinet's list at this time
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  unfortunately for us real estate agents
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  the truth is we're going to have to adjust
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  we're gonna have to play by the rules
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  and as we move forward
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  we are starting to get kind of the rules of the sandbox
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  so now just own the sandbox right
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  follow the rules play within the rules
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  but ultimately bring that to your clients right
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  and it doesn't matter who the president is
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  like I said before I think we have bigger fish to fry
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  when it comes to issues of
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  the president will be addressing
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  and then finally
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  all of this in a time of market craziness right
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  we have high interest rates
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  we have high costs of homes
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  high affordability uh
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  you know limits
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  and this is where we really do not have the ability
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  as agents to control this
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  we don't control the interest rates
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  we don't control the price of homes
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  the appreciation we don't control any of that
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  what we control
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  is our ability to be educated on the market
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  and hopefully be able to take that to our clients
• 7:53
  who are at multiple different education levels
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  and care levels of this information
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  but we can take that information
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  based on what they wanna know
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  what they do know and educate them on the market
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  so that we can best serve them
• 8:05
  what's better than a value proposition of an agent
• 8:07
  understanding the market understanding the climate
• 8:09
  what's going on
• 8:10
  and being able to give somebody two or three options
• 8:13
  when it comes to explaining the market
• 8:14
  and what their situation is right
• 8:16
  you can't do that unless you understand the market
• 8:18
  you know the market and you can
• 8:21
  rightfully
• 8:21
  communicate it with the people at their level right
• 8:25
  we have amazing resources
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  especially in the Colorado market
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  of people that give high level statistics
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  and high level data to us
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  if we take high level data to a first time home buyer
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  who you know
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  doesn't work in the math industry and doesn't like data
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  it's gonna be a problem
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  so we need to be able to break it down
• 8:42
  certainly use some of their data
• 8:44
  don't change it don't do anything crazy
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  but being able to decipher it and break it down
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  so that it's understandable
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  and then
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  we need to be able to provide a couple solution options
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  right here's your options
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  this is what it is so all of that within this market
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  within this election cycle
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  within this commission lawsuit age that we're in
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  brings a lot of pressure and as agents
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  if you have the pressure
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  you have to be able to take the pressure
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  it's just like working
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  for a corporation that maybe is going through a
• 9:15
  you know secret buyout or something like that
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  all of that information
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  doesn't need to be passed on to the consumer
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  and in most cases shouldn't be passed on the consumer
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  due to NDAs and all the things
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  but that's that has to be compartmentalized right
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  because we have a job to do moving forward
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  even if the company is about to get sold or bought out
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  or whatever that person in that corporate
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  you know
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  latter has to continue to serve the client right
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  there's so many different parts of a corporation
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  and as agents
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  we need to take a little bit of that and understand
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  okay
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  we need to make sure that we keep this kind of separate
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  we need to learn
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  we need to know we need to understand how to
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  you know communicate the new changes or the
• 9:59
  you know the the way it is
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  how are we getting compensated so on
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  but we do not need to be so in depth
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  or we're taking it to the consumer
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  as if we're asking them to fix it for us
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  we are the professionals not them
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  so as an agent what's this leave you right
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  I've heard older agents say I'm done I'm getting out
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  that's fine whatever
• 10:19
  I've heard newer agents say
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  there's no way I can get in
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  I've had agents in the middle that are like
• 10:24
  we'll just figure it out you know
• 10:25
  it'll come as it goes
• 10:27
  and and those agents
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  maybe
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  sometimes need to be clueing in a little bit more
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  to their state and brokers
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  and all the things however
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  as agents what I am hearing is
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  there's a
• 10:38
  lot of people that are not willing to do the work
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  to understand exactly what's going on
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  and I'm here to tell you that this is a massive
• 10:46
  opportunity for you to take market share right
• 10:48
  anytime
• 10:49
  we're losing older agents who don't wanna adjust
• 10:51
  or newer agents who just feel like it's too hard
• 10:54
  or mid tier agents that just
• 10:57
  you know can't really wrap their heads around it
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  cause they don't have the time to do it or whatever
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  if we take advantage of that as a brand new agent
• 11:05
  as an experience agent as a middle agent
• 11:07
  we have the opportunity to do things that
• 11:11
  haven't been done right
• 11:13
  we're gonna have the
• 11:14
  opportunity to have more conversations
• 11:16
  the quicker we understand the NARC settlement changes
• 11:18
  the quicker we understand the political climate
• 11:20
  that we really don't have a lot
• 11:22
  no one's coming to save us
• 11:24
  and the quicker that we understand the market
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  the more information we can take to our clients
• 11:28
  we're gonna have more conversations
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  and more conversations lead to better conversion right
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  better you know
• 11:35
  vernacular better ways of explaining things
• 11:37
  better ways of going about
• 11:39
  certain parts of our business
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  and the reps that we get right now
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  have not been taken by anyone
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  so I don't care if you're the No.
• 11:45
  1 agent in the No. 1 state
• 11:47
  and sold the most houses in the
• 11:49
  at the No. 1 brokerage
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  you have not had the conversations
• 11:52
  that we are about to endure
• 11:54
  as this comes to fruition
• 11:56
  as these changes come and hit
• 11:58
  sometime between July 1st and August 17th
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  in most states so
• 12:03
  you have the opportunity right now
• 12:04
  to not get overwhelmed educate yourself
• 12:07
  understand exactly what is being required
• 12:09
  by your broker by your state
• 12:11
  and be able to formulate a plan
• 12:14
  so that you can talk to your clients about that
• 12:16
  appropriately
• 12:17
  once you get that first conversation under your belt
• 12:19
  then we can get the next one
• 12:20
  then we can get the next one
• 12:21
  then we have it perfected
• 12:23
  and we're not sitting there
• 12:24
  worrying about all the different things
• 12:26
  now stay up to date
• 12:27
  as I think things will change quickly
• 12:29
  but the quicker we can
• 12:31
  install all of the things they're asking us to
• 12:33
  and the quicker we can adapt when things change
• 12:35
  or get tweaked a little bit
• 12:37
  the better off we will be
• 12:38
  so that is why
• 12:39
  right now is absolutely not the time to give up
• 12:42
  and if you feel like you lack support
• 12:45
  and you know that's part of the reason
• 12:47
  please give me a call
• 12:48
  I'd be happy to support you within the
• 12:50
  the rules and regulations
• 12:52
  talk to you about joining our group or not
• 12:54
  whatever I'm here to support you and help
• 12:56
  you get wins every single day of the game
• 12:57
  real estate and I think now is a critical time
• 13:00
  if you sold zero houses
• 13:01
  and you're listening to this right now
• 13:03
  now is your opportunity sees the opportunity
• 13:05
  step up and get it done
• 13:06
  if you sold five to 10 houses but you wanna sell 20
• 13:09
  boom now is your opportunity
• 13:11
  we always focus on the market and we're like
• 13:13
  oh the interest rates come down
• 13:14
  I'm gonna get it this is a massive opportunity for you
• 13:17
  to take market share one step at a time
• 13:19
  one by one and understand
• 13:21
  exactly how you wanna build your business
• 13:23
  because no one's done it in this market
• 13:25
  no one's had these conversations
• 13:26
  I don't care what they've said
• 13:28
  they've been doing it for years
• 13:29
  blah blah blah
• 13:30
  not true uh
• 13:31
  these contracts
• 13:32
  and these changes just came down in Colorado this week
• 13:36
  and so you have the opportunity to make these changes
• 13:39
  in your business quickly
• 13:40
  get educated there's a ton of resources out there
• 13:43
  and take market share I'm here for it
• 13:45
  comment below if you're in and let's go get it bye bye