Following the NAR settlement, consumer misunderstanding was significant. Jimmy Burgess talks to Keeping Current Matters CEO David Childers about how to communicate with today’s buyers and sellers.
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A proposed settlement by the National Association of Realtors (NAR) would separate professional agents from amateur agents. I recently spoke with David Childers, CEO of Keeping Current Matters, who shared his insights on what agencies should do now to win in the changing environment.
Childers began the interview by discussing the level of confusion the settlement creates for buyers, sellers and even agents. He shared the following from 1000watt co-founder Brian Boero:
Childers focused on the part of the sentence where Boero said: “Consumer sentiment is malleable and volatile.” When it came to the word “plasticity,” he said, “It means it can change , it’s the agent’s job to present the facts in a way that’s clear to buyers and sellers.”
The second word he said was “unstable.” In his words, “This means that the subject is being discussed everywhere and that understandings or beliefs about reconciliation include some that are right and some that are wrong.
“In life and business, there can be a big difference between what is said and what is heard. That’s essentially what happened after NAR’s proposed settlement hit the headlines, and the amount of attention has created a sense of what’s going on. Puzzled.”
“The topic of the proposed settlement was raised by a group of people at an event I attended last week who had no idea I was involved in the real estate industry,” Childers said. “I shut up just to hear what people heard. The things people heard and believed were crazy.”
“Agents are no longer needed, sellers can’t pay buyer’s agent commissions, and other extreme ideas, most of which are actually wrong. The problem is, not just the public, but in many cases agents still Not sure how these proposed changes will impact their business,” Childers said.
Confusion, fear, panic and paralysis
Childers continued: “Chaos leads to fear. If left unchecked, fear leads to panic; if left unchecked, panic leads to paralysis. We find ourselves in a time when many agents are not sure what is going on. times. This results in them not knowing what to say, and based on their confusion, they are unsure of what their course of action should be.
“Keeping Current Matters firmly believes that educated agents will win in the marketplace. I don’t know if there has ever been a more important time in history to be an educated agent.”
Childers points out several ways agents can educate themselves, including reading NAR Settlement Fact Sheet and NAR Billing FAQs Published by Nall.He also mentioned a Webinar He’s joined by Tom Ferry; Jack Miller, CEO of T360; and Alysia Esseg, former president of the association and agent coach, who discuss the details agents need to know and how to answer questions from buyers and sellers A few of the most frequently asked questions received there.
“There is no shortage of information about settlements,” Childers said. “The key question is: What are agents doing to educate themselves so that they can be resources and educators in their local markets? In addition to educating themselves, agents are also The facts about consumer sentiment should be clear. Here are some surveys agents should keep in mind.”
He shared the slideshow above and referenced a recent survey conducted Northern Virginia Association of Realtors The survey asked consumers which of the following statements (mentioned in the slideshow) they most agreed with. Surveys show that 76% of consumers believe that when buying a home, someone should absolutely represent your interests throughout the process.
He also shared the following slides from research conducted by Bright MLS.
This slide also shares buyers’ perspectives on how consumers view the value of an agent in the home buying process.
After explaining the charts, Childers said, “There’s a ton of research showing how seriously agents take consumers. That doesn’t mean there aren’t people who hear proposed settlements and say ‘Great, I’ve been Waiting for this moment, now we don’t have to use a proxy. “This mentality still exists among a certain percentage of people, as it always has.”
calm and confident
“But what I do know,” Childers continued, “is that the crazy, volatile nature of the current conversation will subside. The professional agents who can bring calmness and confidence amidst the madness will win. In the next few days During the month, professional agents will have an incredible opportunity to gain market share and build a personal brand, taking their business to a whole new level.”
Finally, he said, “Most agents know what’s going on. Good agents understand what’s going on. But good agents can explain what’s going on.”
“Be an educator. Be the clear, concise message that buyers and sellers in your local market are looking for and that they have complete confidence in. Do this now and you will create a gap with your competitors that will be difficult to close. “
Jimmy Burgess is CEO of Berkshire Hathaway HomeServices Beach Properties in Northwest Florida.contact him Instagram and LinkedIn.
