12 min
What the NAR Settlement Means for Brokerages The HyperFast Agent Podcast
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- Entrepreneurship
In this episode of the Hyperfast show, Dan Lesniak discusses the repercussions of the National Association of REALTORS (NAR) antitrust settlement on brokerages, following up on the previous episode's focus on agents. The settlement, excluding brokerages with over $2 billion in volume in 2022, necessitates adjustments at both individual and organizational levels within the real estate industry. Dan highlights the potential for litigation and settlements for larger brokerages not covered by the settlement and predicts an increase in the migration of agents towards low-fee and cloud-based brokerages due to potential commission compressions and the requirement for buyer broker agreements. While Dan has been teaching the use of buyer broker agreements for over a decade, he believes the requirement to use it will lead towards more agents migrating to companies with educational focus and incentives. He advises agents to enhance their skills and suggests that brokerages with low fees, caps, and a cloud-based structure are better positioned to navigate these changes. The episode emphasizes the advantage of being part of a large brokerage with resources to support agents through transitions, and Dab concludes by promoting the benefits of joining eXp Realty, where agents can access extensive training and support to adapt to industry changes.
If you are ready to join eXp realty and would like Dan Lesniak and Keri Shull to personally sponsor you so you have access to two nationally recognized coaching programs text 703-638-4393.
Join Dan as he discusses:
- The NAR antitrust settlement's impact extends to brokerages, particularly affecting those with over $2 billion in volume in 2022, who now face the prospect of individual litigation and settlements.
- The need for agents to upgrade their skills and adapt to new requirements, such as securing buyer broker agreements upfront, with a migration towards low-fee and cloud-based brokerages anticipated due to these industry shifts.
- The advantages of large, resource-rich brokerages and those structured to support agent growth.
WANT TO GET ACCESS TO ALL OUR HYPERFAST AGENT COURSES FOR A $1 TRIAL?
Click here for a trial membership in the Our Inner Circle.
KEEP UP WITH US HERE
Website: https://hyperfastagent.com
Instagram: https://www.instagram.com/HyperFastAgent/
Facebook: https://www.facebook.com/HyperFastAgent/
Twitter: https://www.twitter.com/hyperfastagent
LinkedIn: https://www.linkedin.com/company/hyperlocal-hyperfast/
OUR OTHER EXCLUSIVE YOUTUBE CHANNELS
The Keri Shull Team: https://youtube.com/kerishullteam
Dan Lesniak - https://www.youtube.com/danlesniak
THE BOOK THAT HELPED 10K+ REALTORS
https://amzn.to/2Mkm9Jp
GET DAN'S BEST SELLING BOOK FREE
https://bit.ly/3dbiH3q
INTERESTED IN TAKING YOUR REAL ESTATE BUSINESS TO THE NEXT LEVEL?
https://bit.ly/3eLG97Z
In this episode of the Hyperfast show, Dan Lesniak discusses the repercussions of the National Association of REALTORS (NAR) antitrust settlement on brokerages, following up on the previous episode's focus on agents. The settlement, excluding brokerages with over $2 billion in volume in 2022, necessitates adjustments at both individual and organizational levels within the real estate industry. Dan highlights the potential for litigation and settlements for larger brokerages not covered by the settlement and predicts an increase in the migration of agents towards low-fee and cloud-based brokerages due to potential commission compressions and the requirement for buyer broker agreements. While Dan has been teaching the use of buyer broker agreements for over a decade, he believes the requirement to use it will lead towards more agents migrating to companies with educational focus and incentives. He advises agents to enhance their skills and suggests that brokerages with low fees, caps, and a cloud-based structure are better positioned to navigate these changes. The episode emphasizes the advantage of being part of a large brokerage with resources to support agents through transitions, and Dab concludes by promoting the benefits of joining eXp Realty, where agents can access extensive training and support to adapt to industry changes.
If you are ready to join eXp realty and would like Dan Lesniak and Keri Shull to personally sponsor you so you have access to two nationally recognized coaching programs text 703-638-4393.
Join Dan as he discusses:
- The NAR antitrust settlement's impact extends to brokerages, particularly affecting those with over $2 billion in volume in 2022, who now face the prospect of individual litigation and settlements.
- The need for agents to upgrade their skills and adapt to new requirements, such as securing buyer broker agreements upfront, with a migration towards low-fee and cloud-based brokerages anticipated due to these industry shifts.
- The advantages of large, resource-rich brokerages and those structured to support agent growth.
WANT TO GET ACCESS TO ALL OUR HYPERFAST AGENT COURSES FOR A $1 TRIAL?
Click here for a trial membership in the Our Inner Circle.
KEEP UP WITH US HERE
Website: https://hyperfastagent.com
Instagram: https://www.instagram.com/HyperFastAgent/
Facebook: https://www.facebook.com/HyperFastAgent/
Twitter: https://www.twitter.com/hyperfastagent
LinkedIn: https://www.linkedin.com/company/hyperlocal-hyperfast/
OUR OTHER EXCLUSIVE YOUTUBE CHANNELS
The Keri Shull Team: https://youtube.com/kerishullteam
Dan Lesniak - https://www.youtube.com/danlesniak
THE BOOK THAT HELPED 10K+ REALTORS
https://amzn.to/2Mkm9Jp
GET DAN'S BEST SELLING BOOK FREE
https://bit.ly/3dbiH3q
INTERESTED IN TAKING YOUR REAL ESTATE BUSINESS TO THE NEXT LEVEL?
https://bit.ly/3eLG97Z
12 min