The new rules mandated by the National Association of Realtors‘ (NAR) settlement of class-action lawsuits related to buyer agent commissions take effect in just two days, and brokerages and MLSs are scrambling to find the best ways to implement them.
The Real Brokerage is going all out to prepare its agents as it has created a “playbook” for navigating the new industry realities. The playbook includes videos, tools and other resources that agents can use to comply with the rule changes.
“We believe that the best way to navigate the new rules is through clear communication,” Real President Sharran Srivatsaa said in a statement. “Our focus is on education and providing resources to all agents. At Real, we fundamentally believe in making all agent lives easier, better and less stressful. By bringing this education to all, we are raising up our entire industry, which is good for agents and the consumers they serve.”
Real hosted a live webcast, the “Future-Proofing Buyer Representation Workshop,” that is available on the company’s YouTube channel. In addition to the webcast, agents can download an e-book called the “Buyer Agent Navigator.”
There’s also a resource for clients to educate themselves on what to expect moving forward. It includes a white-label video and a one-page flyer for agents to send to clients.
Real is continuing to host live events. On Thursday, it is running a workshop called “NAR Objection Handling and Talk Tracks,” where agents can role-play what Real claims are the three most crucial strategies for submitting a purchase offer.
Next week, the brokerage will offer daily interactive training and role-play sessions. Real Academy head Drew Thompson — who is hosting many of the aforementioned events — is also traveling to 10 different cities to provide live training.
