Embracing Change 2: The Listing Side of the NAR Settlement | Tom Ferry Show

The NAR settlement is the biggest challenge facing real estate agents today, and the changes aren’t only impacting buyer agency. Shifts are happening on the listing side as well, and if you don’t update your processes and talking points soon, you’re going to be embarrassed by the time July rolls around.
For this episode of the Tom Ferry Show, I’m sharing the entire recording of my recent webinar which attracted tens of thousands of agents from across the country, “Embracing Change Pt. 2: The Listing Side of the NAR Settlement.”
In addition to my own thoughts and strategies, you’ll also hear from industry thought leaders, Lisa Chinatti, Jamie McMartin, Jack Miller, Jimmy Mackin, and Byron Lazine. These are some of the most successful and most informed minds working in real estate today, and they’re opening up their entire playbooks on how to adapt your listing strategies in light of the NAR Settlement.
This is a big deal, and I’m sharing it to help agents everywhere protect themselves and start serving more clients than ever before.
📆Click to join the next NAR webinar (limited availability - signup now!): hubs.la/Q02tl1KV0
➡ Want the slides for this one? Register for it and we'll email them to you: hubs.la/Q02sJnr40
In this webinar, we discuss…
0:00 - The NAR settlement adjustments
8:12 - Jack Miller: settlement highlights
15:00 - B2B vs. C2C
22:30 - Co-Broke offers
31:17 - Listing contracts & objections
38:45 - A roleplay
46:00 - Best advice
1:00:00 - 5 listing attraction strategies
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For the majority of my life, I’ve been passionate and dedicated to changing lives by giving away the very best strategies, tactics, and mindset techniques to help you and your business succeed. Join me as we take this to level 10!
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#NAR #listingagent #NARsettlement
You are advised that any Information provided on this podcast is not legal advice. Ferry International assumes no responsibility for consequences resulting from the use of the Information. Some of the Information may be outdated or not consistent with current law. You are advised to review all your practices with legal counsel including, without limitation, practices respecting commissions on account of the settlement of legal proceedings against The National Association of REALTORS® (NAR) related to broker commissions. To the extent that any Information is contrary to law or best practices, Ferry International is not responsible for, and expressly disclaims liability of, damages of any kind arising out of use, reference to, or reliance on the Information.

[@TomFerry]

📆Click to join the next NAR webinar (limited availability - signup now!): hubs.la/Q02sJzgs0 ➡ Want the slides for this one? Register for it and we'll email them to you: hubs.la/Q02sJzJ50

[@kimberlyjohnson7299]

The site linked doesn't allow additional sign ups. How can we request the slides? TIA

[@eldridgepaulthompson7108]

This is what I needed to hear.

[@DianneWilliams]

Thank You for this GREAT information!! I already feel more informed than most of my co-workers!!

[@buildingAbiz]

Just a note on when she said they will add a disclosure about if you don't pay a buyers agent a commission and as the listing agent if it doesn't sell then it's not our fault... in the sellers eyes that might not come off well because then they might be thinking then why am I even using you to sell my house if you can't sell it or find the buyer to buy it? And have to rely on another realtor to bring a buyer instead of you finding a buyer?

[@ashdav9980]

If the days on market increase because the buyer agent commission is lower, then that pretty much proves the point that steering was going on, which was one of the reasons they lost the lawsuit. I am not sure your scripts are helping the view of agents that you think they are.

[@KaranSingh-wu8qq]

There indeed was !! Buyers were leveraging their exclusive access to thd MLS

[@KaranSingh-wu8qq]

….. to hide customers towards expensive properties

[@michelemadison3178]

@@KaranSingh-wu8qq I "steer" my buyers to what will suit their needs and make them happy. Many times it is NOT the most expensive property or the one with the highest commission.

[@greenrealtorjohnny]

Not necessarily, I've had clients not want to see properties because they didn't offer a fair BAC. Now, with these new guidelines. Days on Market may increase because the terms may not allocate the extra funds to pay a Buyer's agent so they may go with another property. It's just important for agents to have this conversation when they get the Buyer Broker Agr signed.

[@crystalbluhigareda]

@@greenrealtorjohnny exactly!

[@erijavec]

Great job with the role plays! 👏👏👏♥️

[@Detached_AZ]

On the role play question with Lisa regarding "so what if the buyers agent doesn't request that much"??? If I already have a listing contract stating 3% to buyer agent (today-Not July). A buyer agent comes in for a showing, and buyer offers 2% to their buyer agent on their contract, DOES their contract supercede what I originally offered on my listing contract?

[@LeeCuellar]

Great content! thank you! I love the transcript feature. I copy/paste and edit in word and can use as scripts.

[@StillwaterOKRealtorAnnMorgan]

Would love to get access to the list Tom referenced for objection handling

[@reyesforwestcovina2023]

Where do you get that home value "gif" for the IG post? It is at the end.

[@hdecker1000]

Dismantling yet another industry. Cut by cut. Part of the great reset. You will own nothing and be happy. Especially a home.

[@user-py7hg1eb5m]

Spot on. You own nothing and be happy

[@JamesSalasRE]

Interesting I thought I was the only one thinking this way

[@kenbabcock573]

Thank you for the valuable information!

[@lakecountrylivingwi]

Where can we get Tom Ferry scripts for this please!!!!???

[@briddickwebb2271]

A seller has always had the ability to do a FSBO for flat fee MLS.

[@shelliannelafrance7243]

How can I get these scripts?

[@zz5guy]

How about this script: "Tell me why I should pay you $15k commission when I can list on FSBO for $2000 when houses are selling immediately?"

[@dillonJwilson]

Do it.

[@amaya1hn]

Goodbye, real estate offices. They have done it again.

[@eli_Becerra]

Jimmy 🔥🔥🔥🔥

[@juliesteinmetz4233]

As if you’re Thom, how do I get all that information that you have shared on this KZbin video? How will I receive it? Do you need my email? Do you have my email? Please let me know. Thank you what a great panel thank you.

[@lisaaguilera2748]

My Title company does not have the info

[@GigaCrafty]

These live streams are so rushed.

[@ranDUMBnation]

First comment 🤘🤘

[@francisa9896]

Agents have been forcing full fees for decades under the premise no buyer's agents will steer purchasers to them. Your scripts will not work when most sellers feel your fees are too high. There is a storm building, and many of you will not be prepared.

[@mikesmith1702]

If a listing agent I interview suggests I pay anything to a buyer's agent. They are not getting my listing. Adios.

[@dillonJwilson]

lmao. then the buyer agents will show homes to others that will pay them.... duh

[@mikesmith1702]

@@dillonJwilson and continuing the steering. I have not doubt.

[@mikesmith1702]

@@dillonJwilson spoken like a true realtor...look out for my paycheck before showing a home that would fit my client's need ..yep you're a realtor zero doubt

[@dillonJwilson]

@@mikesmith1702 So you want the realtor to work for free? while other realtors are offering compensation and you decide not to? they will still show it but they'll ask the buyer if they are willing to compensate for the difference.. which most buyers will say no.

[@mikesmith1702]

@@dillonJwilson I am not saying buyers agents should work for free or that they're not of value. What I am saying is they should be paid by their client. I'll assume your response will be they don't have the money to pay them. To which I'll respond assume your buyer does have the money- some do- and ask those buyers to pay you $30K for a 1M house. Never going to happen. Point is the amount buyer's agents get paid is detached from reality. For buyers who don't have your $30K just have them roll it into the loan. Assume that's possible. Will your buyer agree? Hell no they won't.