10/08/2024
Agents quitting post Rule Changes...🤔
I have two closing coming up this month...both started after the Rules Changes and New Forms went into affect. A Listing and a Buy. Even as an independent agent, I am surviving.
Yes, agents are quitting, but the RE industry has way too many agents. That's mostly because RE is a cash-cow for RE schools which constantly promises instant riches. That's false promotion.
Yes, any commission-only income is tough. If you don't have a base income monthly, these changes will make it constantly nerve racking.
Yes, it is 'swings-n-slides' but many brokerages still taking 30%+ of agent's compensation is a burden to agents and inflates compensation paid by sellers, and now buyers. Note: HomeSmart charges a low, fixed fee for independent agents. It's a game changer that has a ripple effect all the way to Seller/Buyer paid compensation.
This is till a great industry with many professional agents. It will always be a People Profession. "Clients Before Cash."
A slowing market and changing regulations following the NAR settlement are driving many real estate agents out of the industry.