Thrive Through Industry Changes: Tips for Real Estate Agents

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.

You’ve likely heard about the recent NAR lawsuit impacting real estate agents. In response to this, I would like to share some tips to help you navigate this situation and continue thriving in your business:

1. Leverage buyer representation agreements. While some see this as an extra unnecessary step, the new requirement for a buyer representation agreement is actually a great opportunity for you. Use this chance to clearly explain the services you offer and the value you bring to clients in exchange for your commission.

“Use this chance to clearly explain the services you offer and the value you bring to clients.”

2. Be clear about your value. There is power in sharing your values and success stories with your clients. Instead of just focusing on announcing property sales on social media, go beyond and post the behind-the-scenes work you do— this includes your problem-solving and negotiation skills. Highlight the comprehensive work you do throughout the entire process.

3. Upskill. It’s never a bad idea to learn and acquire new skills, and this is the time to take those courses in professional development classes. Improving your negotiation skills keeps you ahead of the curve. Along the way, also reflect on who you want to align with long-term in the industry.

If these tips resonate with you, then it’s time to take action! If you have any questions, reach out to me by email or phone. Let’s navigate this situation together and ensure you and your real estate business thrive.