Did you catch the recent article by Notorious ROB documenting the escalating adverse opinion of society against the current commission structure that in their words is overpaying agents? There have been more than 5 lawsuits including the last with Compass and Sotheby’s being sued in California. Now we have think tanks agreeing with the growing rhetoric that REALTORS® are overpaid and how they’re paid.
Rob paints a story all too familiar as he shares a narrative about his listing agent, Sue, a top agent that’s seen the good, the bad, and the ugly in the real estate industry.
Please read Rob’s story and then Jeff’s insight below.
Sue is going to get paid the same for her work as the newbie agent who just got his license last week. She is going to get paid the same commission for her expertise as some hobbyist with a license who doesn’t know the first thing about marketing a property or structuring an offer.
Rob continues in his article…
It’s clear that the world’s opinion of agents and NAR is changing very rapidly. My fear is that our current government structure will not be able to make the appropriate changes quickly enough without marring each of us. Let’s not be the baby that gets thrown out with the bathwater. We are the leaders of this industry but we have to be aware that the current model is clearly broken.
Unfortunately, this is only one piece of the many things that are broken. Clearly identifying that we must lead the way, as Elite Agents.