You’ve heard it, seen it, talked about it: The Real Estate market is going through a majorchange: Hopefully, a complete paradigm shift. And, I for one, am very happy about it. Since the day I stepped foot into this industry over 21 years ago, I’ve felt like realtors have been overpaid. The “standard” of 6% for the last 140 years in the U.S, no matter how anyone tried to justify it, seemed exorbitant to me. Just because it’s “always been that way” didn’t mean that I had to abide by it. And I didn’t. Ever. I have also witnessed agents doing both sides of a deal, which is called “dual agency. (which is NOT addressed in the current lawsuit, but hopefully will be in the near future). Once I learned that that practice is an inherent Conflict of Interest, I stopped doing it quite some time ago. At the heart of this is our Dept of Justice which has sued the National Association of Realtors with accusations of “collusion”, “steering” and “anti-competitive practices”. Was that happening? You betcha! I’ve seen it firsthand over the years! And, happily, they have recently won! (will likely be finalized in July). Whoopeee!

While it’s not perfect, in my opinion, it has good intents and, Lord willing, will significantly reduce commissions and bring better transparency in this “outlaw” industry. Yes, we will all have to do things differently, but it appears it will be a win for both sellers and buyers alike. Again, not perfectly, since the implementation of these new rules is far from figured out, but still, it’s a good step in the right direction. Now, hopefully the next step is outlawing Dual Agency. I will be putting out a series of educational pieces over the next few weeks and months and will be keeping you informed on what is happening and how it is being implemented. And for those who want to transact in the near future, I’ve studied each and every part of this ruling like I always do with any new changes in our industry. I’m doing research ahead of everyone else so I can position my clients to make sure their best interests are protected. Both buyers and sellers. I’m excited that I’ve now got some pretty cool ways to get you ahead of the curve and take advantage of all these changes.
Let me know if you’d like to chat about all this, especially if you have any questions.
Warmly,

Ron

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