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#104 - Are Real Estate Commissions Going Away?
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In this episode, Mark Zilbert discusses the recent headlines about real estate commissions and explains why he believes they will not drop, as has been suggested in some news reporting. He provides an overview of the real estate listing and selling process, emphasizing the role of real estate agents in assisting buyers and sellers. Mark also explains the changes that are coming to the industry, including the MLS no longer showing a buyer's agent their commission and the requirement for buyer brokerage agreements. He highlights the value that real estate agents bring to the marketplace and shares statistics on the percentage of buyers and sellers who are assisted by agents. Mark concludes by stating that while there will be changes in the industry, he does not foresee a significant impact on commissions.
Highlights
- Real estate agents play a key role in the real estate transaction process, assisting buyers and sellers and providing valuable knowledge and expertise.
- Changes are coming to the industry, including the MLS no longer showing a buyer's agent their commission and the requirement for buyer brokerage agreements.
- Statistics show that the majority of buyers and sellers are assisted by real estate agents, highlighting the value they bring to the marketplace.
- While there will be changes in the industry, it is unlikely that commissions will see a significant decrease.
Chapters
00:00 Introduction
01:16 Real Estate Listing and Selling Process
06:09 Impact of Changes on Business
08:56 Value of Real Estate Agents
09:25 Statistics on Buyers and Sellers
11:43 For Sale by Owner (FSBO)
12:42 Conclusion
This podcast is produced by Zilbert for The Zilbert Network, and is hosted by Mark Zilbert. Visit Zilbert.com to see what's for sale in Miami and South Florida.
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