Real Estate Industry News

Getting Ready for the Upcoming Changes

As the implementation date for the new real estate forms approaches on August 17, it’s crucial that agents, brokers, and real estate professionals understand the changes and be ready to adapt. In this article, we’ll provide you with the necessary information, expertise, and thought leadership to help you prepare.

Interview with California Regional MLS General Counsel Ed Zorn

Ed Zorn, vice president and general counsel of California Regional MLS and real estate investment firm ZEC Investments, recently spoke with Inman’s Andrea V. Brambila. Zorn discussed his appearance at Inman Connect Las Vegas, where he will share practical and actionable strategies for agents to navigate the changes in real estate forms and transaction management.

"By August 17, agents must have an answer to every question they will be asked," said Zorn. "There are a lot of moving parts, but in my session at Inman Connect Las Vegas, I’ll go over some live role-playing to demonstrate how to handle buyer and seller objections, and provide examples of effective listing presentations and communication strategies."

Real Estate Experts Weigh in

Inman contributors Anthony Lamacchia, Summer Goralik, and Rachael Hite are offering valuable insights and advice on the industry changes. Here are a few essential tips and resources to consider:

• Commission sharing: Lamacchia notes that the industry is at an awkward period, and it’s time to decide on a plan moving forward.
• Communication: Goralik emphasizes the importance of implementing best practices and clear communication with clients to avoid compliance issues.
• Listening: Hite highlights the need for real estate agents to listen more and talk less to their clients, ensuring that transactions are completed efficiently.

27 Resources to Prepare You for the August 17 Transition

The table below outlines the key resources and guides provided by Inman experts, including:

| Resource | Summary |

Commission Crunch: 5 Tips to Avoid Scrutiny and Remain in Compliance
The industry is shifting, and the way agents handle client commission payments will be under greater scrutiny.

• Clients are watching how agencies handle commissions, and this period requires a shift in approach for compliance.
• Implement the five suggested tips to avoid scrutiny and ensure continued operation.

Can You Hear Me Now? Why Your Clients Miss 50% of What You Say

Successful real estate agents understand that communicating effectively is key to closing transactions smoothly.
Inman contributor Rachael Hite highlights the reasons why client discussions can turn topsy turvy, revealing the importance of understanding each client’s unique needs.

| How will you communicate offers of compensation?

What questions are you asking? #### Can you hear me now?

What additional questions can you ask clients and how can you ensure clarity about commissions and payment structures?
Please contact [your name and your brokerage] to discuss.

We’ll answer your top queries on real estate agreements and what’s happening in your state now.
To learn more, take part in our upcoming workshops,
Join us at the August webinar series to get clarity around commission-sharing and the C2-EXR,
Have questions about the new commission reports?
Don’t hesitate to reach us

As we continue to navigate this pivotal phase in the real estate industry, our dedication to keeping you informed and prepared has grown.
Whether you’re starting the transition, navigating the changes,
How to Get Ready for Your Upcoming Change
How Will They Be Used?
This Information
Are You Looking Ahead?

Author: www.inman.com

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