How about that $418M NAR settlement…

You’d have to be living under a ROCK to have not heard about the biggest news stirring up the RE world in years. 

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Yup – that NAR commissions lawsuit settlement. 

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Now hooold up…

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Before you roll your eyes and click out, give me a chance to talk to you about something super important here. 

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Something I preach about consistently and share with all our community members in GO! is:

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Adaptability. 

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Revolution. 

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Revolutions in the constant evolution of all business.  

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“Change is inevitable. Growth is optional.” - John Maxwell

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If you were a Loan Officer in 2010, you’ll remember well all the fear and hoopla around the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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It essentially prohibited Loan Officers from pricing steering incentives.

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There was so much confusion and stress in compliance departments, and it felt like everyone thought Loan Officers would never earn a great living practicing their craft.  

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But, it all obviously worked out and many Loan Officers and Mortgage Companies made millions from 2010 to 2022… 

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Now, with the NAR commissions lawsuit, thousands of Real Estate Agents are feeling confused and stressed (understandably so), but let’s be real:

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What if the strategies to secure their buyer’s commission actually do need to evolve?

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I know in many other countries around the world, the Real Estate Agent is not compensated by Sellers or Seller’s Agents, yet their market dynamics function well. 

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We're definitely staring down a path that might lead to slimmer agent earnings. 

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Buyers covering broker fees could redefine deal structures and our financial guidance as Loan Officers.

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It’s a golden opportunity to fortify ties with your prime referral sources.

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We might need to get creative with financing solutions or work closer with real estate partners to navigate the commission changes…

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This settlement is more than just legal jargon; it’s a prelude to change. 

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I believe the barrier to be a Real Estate Agent is too low and this will only higher it. 

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Good.

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It will force better negotiation skills and force the best Agents to rise up and win. 

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As LOs, staying informed, adaptable, and proactive in our strategies will be key. 

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Let's lean into this challenge to add value for our buyers and our Referral Partners…

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I have zero doubt that the best will rise above this. 

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Stay ready. 

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- Amir

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P.S. Let’s keep the conversation going. I want to hear your take on flipping these industry changes into our next big wins. Let's brainstorm together.

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