In a decision that might seem counterintuitive, I recently joined X, previously known as Twitter, and began engaging with the platform a few months ago. This move aligned with the unfolding NAR lawsuits, sparking numerous enlightening discussions. My aim on social media is to sidestep the prevalent doom and gloom, focusing instead on providing timely, practical advice and balanced insights of the industry.
Admittedly, my views often diverge from the mainstream within the real estate industry. While many of my colleagues strive to maintain the status quo, gaslighting the publics perception that our industry was inherently flawed, I’m opting for a different path.
The path forward is starting to shake out. In short, every major company I have encountered continues to develop strategies and
As a result of the settlement, I have shifted my listing process to now charge only my listing commission, empowering sellers to decide the buyer agent’s commission if any. This approach is reflected in my most recent listing, which features the lowest buyer-side commission I've offered this year— 1.5% as opposed to the typical 2.5-3% that more than 97% of the market adheres to.
For what it's worth, I believe a 1.5% buyer representation fee is essential to maintain high-quality service and motivate skilled professionals in this industry.
This initiative is a real-time experiment, one that I anticipate will gradually become more commonplace. Three days in, and already the results are promising: strong showings, several offers, and no agent revolt. There were lots of unknowns. Will agents boycott the listing? Will buyers seek concessions to cover their agent fees? Will my peers criticize or ostracize me? While these questions linger, early indicators suggest the sellers are positioned to succeed.
I've proactively scheduled multiple open houses at various times to maximize buyer exposure to the property. Additionally, I've been actively engaging with every agent who inquires, understanding that this may be a learning curve for many. Often, these agents have buyer agency agreements that stipulate higher commissions, and typically, their buyers haven’t needed to pay out of pocket or cover any shortfall. Now, the question is whether they will prompt their buyers to write competitive offers while also covering an additional 1% commission. It remains to be seen, but we're ready ;)
I shared these developments on X this Thursday, drawing over 65,000 views, 52 comments, and a wealth of feedback—mostly from individuals with polarized views, a common scenario on social media. As someone who typically occupies a more measured, central stance, my contributions are unlikely to "go viral" frequently. Yet, I value the balanced perspective I bring to these discussions.
Take a look at the post and share your thoughts
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