The gradual phasing out of buyer-agents is underway, and it shouldn't be long now. Zillow's new format features the listing agent's phone number under the main photo! The three-headed agent display was removed and now when a reader clicks on the right side for Request...
One more blog post about the coming changes to the realtor environment. Regardless of how the commission lawsuits are resolved, there will be a push - and possibly a mandate - for buyers to pay their agent directly. Agents will want buyers to sign an agreement to that...
Hopefully NAR is busy in settlement talks right now, because they just don't seem to get it, or they have trouble putting it on paper. These are their latest explanations: https://realestatecommissionfacts.com/ However, there might be hope for settling the case:...
Zillow CEO Rich Barton weighed in on the bombshell cases in both an investor call and a shareholder letter. Barton’s key comment came early in the call when he said “We also believe complete disruption to the existence of buyer’s agents is improbable for a few...
I am willing to take the stand if it will help the realtor commission lawsuits, but the defense might have second thoughts. The complaint is that realtors have conspired to force sellers to pay a standard, non-negotiable commission rate to the buyer's agent. My...
It's been over two weeks since the verdict was announced on the commission lawsuit, and the response from the realtor community has been tepid, to say the least. Agents are waiting to see a strong example of how to convince buyers to sign a buyer-broker agreement....
There are three ways to get exposure to realtors. Word-of-mouth from friends and family. Personal experience or investigation. Realtor-paid advertising. First, let's identify how realtors get their business. Either they earn the business (#1&2 above), or they buy...
A simple analogy for realtor commissions is a long-distance flight abroad. Someone who was booking a flight from San Diego to Phoenix probably wouldn't be too concerned about the quality. Because the flight only takes an hour, most can endure the...
The copycat lawsuits are pouring in now, with attorneys from across the country looking to get their piece. The latest, called Batton 2 (other versions were filed previously), is for buyers from the last 27 years: “All persons who, since December 1, 1996 through the...
Did you know that none of the jurors had sold a house before? It was part of the screening too, and the defense attorneys were so cocky that they didn't think it would matter. Their witnesses were a smart-aleck NAR CEO on his way out the door, and an elderly...
