Financial Conditioning

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Navigating Real Estate Commission Changes: Impacts, Strategies, and Future Trends

E22 • Aug 19, 2024 • 16 mins

Key Points

Real estate brokerages are now encouraging clients to negotiate lower commissions, marking a significant industry shift towards consumer empowerment.
New rules coming into effect on August 17, 2024, aim to provide more negotiation power to consumers, potentially lowering both commissions and home prices.
Lower commission rates may increase transaction volumes and attract more buyers, but home prices will still largely be determined by demand and supply factors.

Speakers

Simon Karmarkar

Host • 100%

Chapters

0:00	Welcome and episode introduction
0:36	Real estate commission changes and personal selling decisions
2:32	New rules and criticisms of the old commission system
3:54	Impact on prices and new business models
5:27	Historical and current perspectives on commission rates
7:17	Legal aspects and brokerages' strategic responses
9:06	Personal experiences and market trends in commissions
11:08	Effects of lower commission rates on market dynamics
12:02	Winners, losers, and personal career shifts due to commission changes
13:44	Adapting to new commission structures and the future of commissions
15:06	Episode conclusion and final thoughts

Transcript

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