Sue Yannaccone: Agents should seize the moment

In the days before the practice change takes effect on August 17, Sue Yannaccone, president and CEO of Anywhere Brands and Anywhere Advisors, writes about how the industry can prepare for what’s next

As part of NAR’s Commission-related legal settlement, and as we approach the August 17 practice change deadline, it’s clear to me that our industry is all over the map (and in some cases, literally) about how we view and prepare for what comes next.

At Anywhere, we are always working to ensure our agents, affiliates, and employees are educated and prepared, but I’ve read and heard everything from others Nothing to see here arrive The sky is falling — and many reactions of confusion, disbelief, and frustration in between.

I don’t have a crystal ball as to how each NAR-affiliated MLS or state association will interpret the legal language in the NAR settlement agreement. But what I do know is that we all have a choice: you can either seize this moment or be a witness to it.

I encourage you to choose the former.

I firmly believe that the more prepared, informed and committed we are to serve our clients during this period of industry change, the more we will be seen as trusted advisors to our clients, helping them successfully achieve their ultimate goals.

Remember: consumers have broadly positive views About real estate agents.

We’re not being defensive, but it’s never been more important to truly and transparently own the value we deliver to our customers.

Here are some tips my agency and brand leaders are sharing with our affiliated agents and franchisees to help them prepare for August 17th:

1. Leverage your brokerage resources

If you are not ready, make sure you have time to review and fully digest any forms, educational resources and guidance provided by your brokerage firm regarding changes in the industry.

2. Strengthen your network

Make sure you know who to contact if you have questions or challenges. Facilitate discussions with colleagues and build relationships at local associations, MLS, and even with competitors.

3. Acceptance of Buyer Agreement

Many organizations have begun publishing their buyer agreements to comply with NAR practice changes. Be familiar with the situation and ask questions immediately to avoid business disruption.

4. Hone your pitch

It’s not about writing your own script, it’s about knowing how to articulate what you do simply and clearly. We are providing pitching training to our brokers and agents, but some local associations have also put out helpful materials.

5. Understand the compensation plan

Offers cannot be displayed on the MLS, so it’s important to work with your company and/or legal counsel to understand how to share this information in your market and make appropriate technical changes to your website.

1 additional tip: zoom out

We are immersed in uncertainty and rapidly changing waters, but our purpose as professionals and homeownership managers has not changed. Even if there are some initial hurdles, questions that aren’t immediately answered, or additional complexities that need to be worked out, as an industry we’re still in this together, and now it’s time for us to do what we do best: helping home buyers and sellers realize their Goal dreams.