The Real Estate Industry Is Changing: 3 Things You Can Do

By Michelle Bailey

Michelle Bailey is the managing partner of the Ben Kinney Team at Keller Williams Realty Boise. She is responsible for hiring, mentoring and coaching Realtors®. They deliver the dream of homeownership and help buyers and sellers build wealth through real estate.

In case you don’t know, there are currently real estate lawsuits working their way through the courts that could have a big impact on the real estate industry. The details of the cases are complicated, but you don’t need to be a legal expert to understand how to move forward. That’s why I’m sharing three tips to help you navigate the upcoming changes in the real estate industry:

1. Continue serving clients at a high level. I’m sure you’re already doing this, but it’s crucial to maintain a high level of service in this environment. Make sure you explain how commissions work in your state so that there isn’t any confusion about how you’re getting paid or why. 

2. Use buyer-broker agreements. These are an opportunity to sit down and explain your value proposition, how you get paid, and what they can expect from the process.

“You need to focus on what you can control. ”

3. Educate your clients. Every state is different, and unique state laws are going to become more important as the industry has more uncertainty. Communicate so that you and your clients are on the same page. 

In this environment, agents need to focus on what they can control. Continue to provide good service, and I’ll be sure to update you with any further information on this topic. In the meantime, call or email with any questions. I look forward to hearing from you!