The NAR lawsuit changed the real estate industry overnight. Just like that, buyer’s agents were no longer getting their standard three percent commission, and many investors began imagining what buying and selling homes would be like without realtors. But is this massive NAR settlement as dramatic as the headlines are making it out to be? Is there really an agent exodus on the horizon, or is this just a way for the bad agents to exit the industry quickly? We brought on a panel of top investor-friendly agents to find out.
Joining us are four agents from across the nation: Avery Carl, Craig Curelop, Juliet Lalouel, and Mike Savegnago. All of these agents are affected by the recent NAR lawsuit settlement, but they don’t seem so shaken up. For many of these agents, this lawsuit simply thinned the competition, putting the expert agents back on top while showing the less-than agents the door. Plus, after the recent deals they’ve done, they’re not too concerned about a lack of buyer’s agent fees.
Today, we’re asking each of them their thoughts on the changes to the NAR’s rules, how this will affect buying and selling homes, what this means for real estate agent commissions, and what agents should do NOW to get ahead of the game. Plus, since our agent panel is all investors as well, they give some crucial advice on finding an agent in your area that will help you build your real estate portfolio even bigger.
Dave (00:00):
Hi everyone, and welcome to the BiggerPockets Podcast Network. I’m your host today, Dave Meyer. If you’ve been following along the last couple of weeks, both on the BiggerPockets Podcast and our sister podcast, the On the Market podcast, we’ve been covering in depth the NAR National Association of Realtors antitrust lawsuit developments. For those of you who haven’t been following, first and foremost, you can go listen to the episodes we released last week, which was sort of a factual accounting of the lawsuits, what the jury…