This Could Be The End Of All Real Estate Agents: Commission Lawsuit

Recently major brokerages have agreed to settle a massive lawsuit that has been going on for years. This puts the buyers agent commission at jeopardy. If you are not willing to prepare and adapt accordingly you may get left behind in this new world as a real estate agent.
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[@johnsciara9418]

There are a couple of things that many who are trying to project what might happen that some are not taking into account.
First, Berkshire Hathaway Home Services will not settle, and will go to trial. If BHHS wins, with the fact that home sellers signed a legal contract to pay a 6% commission, they should not have had any say in what the listing agent does with that money. So for RE/Max and Anywhere who have agreed to change their practices, what happens if the plaintiffs lose? Will BHHS be free to continue as they have but RE/Max and Anywhere need to change as they had agreed to?
Then even if the practices change, do you reduce your commission by half, now becoming a discount agent or do you still feel that you are worth the same 6%?

[@markcorbett5245]

The buyers and sellers can always negotiate the terms of the offer, which can include contributions, which can be used towards their buyers agent fee or buyer can make their offer conditional on seller paying their buyer agent fee.

[@cameronureofficial]

Love this point of view 👏🏻

[@ERICAEPPSREALTOR]

If I sign a contract for services and agreed on commission I have no recourse.

[@ryanlunn2869]

Buyer and sellers agents are engaging in collusion to screw you over in that contract. It’s illegal to do in any other industry.

[@door2doorrealestate]

Great video Cameron. I sold 75 homes my first year by door knocking and putting my head down. I know run a coaching platform with my business partner Duane Richins teaching other realtors how to do it too. Great video Cameron. Wish to see you back soon.

[@AshCalhoun007]

So glad you made this video- I’ve been wanting to understand what was going on and haven’t had the time to look. I’m out door knocking before my very first listings first OPEN and thanks to you- I know what to do! Thank you for being so helpful, supportive and informative. And inspiring!

[@cameronureofficial]

I’m so glad to hear this! Congrats and keep killing it! Let me know how I can help you!

[@danoesq2]

If buyer's agents start to disappear and there's more double ending, I wonder how sellers are going to swallow that. I'm in CA where it's legal (and I have a license) and I have double ended, but it's still a huge question of ethical practice.

[@bjkjoseph]

I don’t know anything about this, but I know the value of houses are a lot more than they were 50 years ago so if you charging somebody 5% on the million dollar house why the hell should they give you $50,000? You’re getting it right now but trust me that’s going to end. Realtors should come up with something before they go extinct

[@cameronureofficial]

I will propose another thought for you around this, should attorneys be paid a percentage of the case they win based on the size? Meaning a larger more challenging case ultimately earning them more money? Same scenario for realtors. 🫡

[@albundy3929]

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