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Hey it’s Steven.
Last Friday, the National Association of Realtors reached a groundbreaking agreement to settle antitrust lawsuits with a group of home sellers.
This deal includes a payout of $418 million in damages and the elimination of certain commission-related rules.
The 6% commission, a long-standing pillar of real estate transactions, is no more.
This change is not just a shift in numbers; it represents a fundamental disruption for countless relators who have relied on this model for their livelihoods.
With the dawn of AI and chatGPT, many in our industry are facing the similiar uncertainty of what lies ahead.
Small business owners are feeling the discomfort of a familiar system vanishing before their eyes.
The obstacle before us is not the change itself, but our response to it.
A caterpillar must endure a period of significant upheaval to emerge as a butterfly.
Similarly, this moment of change calls for us to develop a new vision for our businesses.
It invites us to explore innovative models of operation, diversify our services, and most importantly, cultivate a mindset of adaptability.
If we focus on the changes, we may feel overwhelmed and resistant.
If we focus on the opportunities these changes present, we can gain a competitive advantage by being the first to adapt and increase our market share.
Rooting for you,
Steven