In the wake of all of the NAR Settlement noise, what’s a Realtor to do or say? It seems everyone has something to say about the settlement, from aspiring social media influencers to all the major news networks. Unfortunately, a lot of the noise is just being repeated and spun over and over, and the undertow of the noise has even got my head swimming with questions and distractions at times. I’ll tell my fellow Realtors what I’m telling myself amidst all the noise: perfect your processes, recite your value, and pay attention to NAR.
First, it’s important to perfect your process. Anytime an agent signs a TAR RF302 form, dubbed our “Confirmation of Agency Status", that agent is supposed to indicate their relationship with their respective seller or buyer. If that form states the agent is representing the seller, there must be a listing agreement signed between the agent and seller. In the same fashion, the buyer’s agent must have signed a buyer representation agreement if an RF302 form indicates the buyer is represented. Agents who are not in the practice of securing a representation agreement need to push away from the table for a moment and schedule some training time with their brokers.
You should also always recite your value. A Realtor’s value isn’t measured by the way they open a lockbox or schedule a showing, but it’s demonstrated when your client approaches a hurdle and needs advocacy and advice. Your sphere of influence needs to hear about your experiences helping past clients overcome challenges. Set yourself apart from the deluge of opinions about the settlement and start reciting your value.
Lastly, pay attention because NAR is constantly sending Realtors information and insight about the settlement situation, and a lot of the emails they’re currently sending us are helpful. Don’t get your information from a third-party source. There are still details to be hashed out with the proposed settlement and process changes will vary from state to state, so be listening to what NAR and your local Realtor association are sharing with you.
An active supporter and member of Greater Nashville REALTORS®, Chris Grimes is the Managing Partner of Partners In Grimes, a team affiliated with Corcoran Reverie.
