Real estate expert Barbara Corcoran is calling on the industry to calm down after uproar over the NAR commission lawsuit settlement.
Attend Inman Connect in Las Vegas July 30-August 1! Seize the moment and take control of the next era of real estate. Through immersive experiences, innovative formats and an unparalleled lineup of speakers, this gathering becomes more than just a conference, it becomes a collaborative force shaping the future of our industry. Grab your tickets now!
Each week on Download, Inman’s Christy Murdoch dives into the week’s hottest stories to give you the information you need to face Monday. This week: After uproar over NAR’s commission lawsuit settlement, real estate expert Barbara Corcoran tells the industry to calm down.
Any period of unrest is interesting and instructive because it provides an opportunity to understand how people cope in a crisis. While some look for an exit, others take center stage and share their fears with anyone who will listen.
However, some people pride themselves on being able to keep their heads when everyone around them is losing theirs (ref: Kipling). In fact, they might float the other way around and then sit back and watch the fireworks.
last week, Barbara Cochran weighed in on the NAR settlement and said, in many words, “To be honest, I don’t think this ruling is a big deal.”
Founder of Corcoran Group and star of ABC Shark Tank Tell Yahoo!finance Last week, while she believed the National Association of Realtors’ recent $418 million settlement of a commission lawsuit would cause less disruption to the industry than expected, it caused “complete chaos” for industry professionals and consumers .
Cochran believes that because sellers have incentives to attract buyers, sellers will try to “even the score” by paying closing costs and other expenses to “please” with buyers. So she doesn’t think the ruling changes things that much.
In addition to weighing in on the settlement and the unanswered questions it raises, Cochran described sellers as “greedy” and predicted the low-inventory woes will continue.
In the meantime, what advice does she have for frustrated buyers? Buyers love notes.
“I’ve been doing this my whole life,” Cochran revealed. “Run into a neighborhood, see which houses you like, and write love letters on every door.”
Corcoran said that on the last four houses she purchased, she used this tactic when the house she was interested in wasn’t on the market yet — and it worked.
Whether you agree with Cochran or strongly disagree, lawsuits, settlements and coming changes have been on nearly everyone’s mind over the past week. The trick is to figure out what to do next so that you too can enjoy the ease she brings. Luckily, Inman’s help desk has plenty of ideas.
Will uncertainty drive agents out?Maybe – but don’t let it be you
Coldwell Banker Realty President and CEO After National Association of Realtors Offers Settlement kamini lane Three tips for agents navigating the commission compression chaos.
How good agents win against NAR billing error messages
Post-checkout consumer misunderstandings are very common. Jimmy Burgess Chat with the CEO of Keep Current Matters David Childers About how to communicate with today’s buyers and sellers.
10 Reasons to Move to a Seller-Centric Business
Trainers and leadership experts write if agents want to beat local competitors Jeff Gloverthey need to start focusing on having listed inventory on their market.
It’s up to you to get rid of the NAR lemonade in the billing dilemma
Consumers have become a front-row seat to the disruption happening in our industry, Rachel Hayter wrote. As things unfold, who’s going to make the lemonade and who’s going to eat the sour grapes?
Christy Murdock is a freelance writer, coach, and consultant, and write about real estate.Contact Writing Real Estate Instagram and subscribe to the weekly roundup, ketchup.
