Major Lawsuits Rocking Real Estate: What Agents Must Do Now

The one constant in life is change. Right now, that’s exactly what the real estate industry is experiencing. After the Sitzer | Burnett verdict, a proliferation of lawsuits has quickly unfolded, significantly heightening the pressure on the established norms within our industry. While we won't dive into the specifics of these lawsuits today, it's important realtors start preparing now for the changes ahead.

Your relationships are still, and always will be, the core of real estate.

Watch Part 1 of my video recap!

Watch Part 2 of my video recap!

Right now, focus on what you can control which includes the following:

1. Mindset

How you approach this new landscape will determine your success. Go into these industry shifts with an open, positive, and proactive mindset. People want and need your help with the biggest purchase of their lives! Don’t believe me? Click here for some stats that prove it.

Tip: Why not view the changes as opportunities rather than obstacles? Try it and see how it feels.

2. Skillset

You'll need to have conversations with buyers and sellers that go beyond the typical talking points. Be prepared to address how these lawsuits and judgments will impact transactions. . Get better at negotiation and having direct conversations about your commission.

Tip: Seek out additional training and expand your expertise.

3. Activities

What can you do differently right now to put yourself in the best position moving forward? How can you better connect with buyers and sellers?

Tip: Figure out how you can tweak your schedule and priorities.

4. Alignment

Align yourself with a broker, a team, a company that you trust to guide you through this. You need a brokerage that is actively preparing for and staying on top of industry changes. Your broker should be knowledgeable, have a clear plan, and be ready to guide you through the upcoming complexities. If your current brokerage isn't up for the challenge, don't hesitate to explore other options.

Tip: Join Premier Listings 😉

The bottom line is that the old way of doing business is over. Last week’s verdict was just the beginning. As an agent, getting your mindset, skills, activities, and brokerage support in order will set you up for success. Be proactive and you'll be in a great position to not only survive but thrive.