The real estate industry was shaken by the recent NAR settlement, but agents overwhelmingly feel that their brokerage has been a valuable ally during this time. According to the Inman Intel Index, agents believe that their brokerage has effectively supported them, especially in terms of training efforts.
This report is exclusively available to subscribers of Inman Intel, the data and research arm of Inman providing in-depth insights and market intelligence on the residential real estate business and proptech. Agents responding to the survey expressed confidence in their brokerage’s ability to prepare them for the changes brought about by commission lawsuits and settlements. They feel that their brokerage will continue to provide them with the necessary resources.
Despite concerns about the changing landscape of buyer-side compensation, agents are confident in their ability to communicate their value to clients. The survey results, gathered shortly after NAR’s settlement announcement, highlight a positive sentiment towards brokerages among agents.
Training has played a crucial role in helping agents navigate these changes. The majority of respondents agreed that their brokerage has provided thorough and ongoing training related to commission lawsuits. However, some agents expressed dissatisfaction with the training provided, indicating room for improvement in this area.
Overall, agents feel well-equipped to handle client negotiations and articulate their value, thanks to the training and support from their brokerages. The survey results demonstrate a strong consensus among agents regarding their preparedness for the challenges ahead. Intel will continue to monitor these issues through its monthly sentiment survey to provide valuable insights to subscribers.
The NAR settlement and changes to commissions have caused a major shift in the real estate industry. However, agents overwhelmingly feel that their brokerages have been effective allies in helping them navigate these changes. Despite concerns about future buyer pipelines and increasing regulation, agents have expressed confidence in their ability to articulate their value to clients in this new landscape. Brokerages have been providing thorough and ongoing training to agents on using buyer agency agreements, demonstrating value to buyers, and negotiating compensation. The majority of agents feel prepared and supported by their brokerages, with only a small percentage expressing dissatisfaction with the level of training provided. Overall, brokerages have been successful in preparing agents for the challenges posed by recent industry changes.
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