Podcast: Big Tech (Zillow, Open Door) Attacks Buyer Agent Commissions | Tim and Julie Harris

Real Estate Training & Coaching School

Business, Careers

4.7 • 669 Ratings

🗓️ 19 October 2020

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's podcast Tim and Julie Harris discuss an article featured on Inman News titled: The Quiet Ibuyer War On Buyer Agent Commissions. Long time show listeners have known about the inevitable 'attack' on buyer agent commissions for sometime. The simple fact is buyer agent commissions will have to change. A seller paying a buyer agents commission may no longer be an 'entitlement' to a transaction. What is an agent (or broker) to do? When you listen to today's show Tim and Julie will drill down on what is happening, what will happen next and why caring, competent and skilled agents will always be the center of a real estate transaction. Thank-You for joining the 10s of 1000s of real estate professionals from over 50 different countries that listen (and download) Tim and Julie Harris's Podcast every day. Schedule A Free Coaching CallListen on iTunesListen on SpotifyListen on Stitcher

Transcript

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0:00.0	Welcome to Real Estate Coaching Radio, starring award-winning real estate coaches and number one international bestselling authors, Tim and Julie Harris.
0:21.2	Real Estate Coaching Radio is the nation's number one daily radio show for realtors
0:25.9	who demand authentic real-time coaching.
0:29.1	Get ready for fluff-free, unfiltered, full-strength honesty about what's truly working
0:34.0	to get you into action, helping others others and making money now in today's real
0:38.6	estate market now to our hosts tim and julie harris three two one and we are back julie
0:47.4	welcome to monday october 19th um we've got a really i think a fantastic show for you guys
0:52.5	today um we are as i promised Julie, we would.
0:55.6	We'll keep this succinct and not a lot of vamping because there's a lot we have to cover in this article.
1:01.0	There was an article that came out in Inman this morning, and it is talking about a lot of the things that we have been,
1:08.0	I'm just going to use the word that comes to my mind first, which is warning
1:11.3	you about with regards to buyer agent commissions. And somebody has done a fantastic job researching
1:16.9	what we are theorizing on for really effectively the past three or four years. So I'll just summarize
1:22.6	it. Julie Nice theory was that the listing commissions weren't the commissions or the you know if you want to look for
1:28.3	some sort of a exterior thing or some sort of some fearful thing to worry about with regards to real
1:34.4	estate transactions it wasn't going to come from the listing side despite the ibuyers it's going to come
1:38.3	from the buyer agent side because we were theorizing that there would be the advent of technology companies that would see
1:45.3	buyer agent commissions as being the low-hanging fruit to start reducing. That had never really
1:49.3	happened before. Always the listing like Redfin, they'll advertise lower listing commissions and still
1:54.4	co-op the same. But Julie and I always saw that as kind of an odd way of going about it. Why would
1:59.4	you go about that way? And the answer is
2:01.2	obviously if you reduce the commissions, you're going to have fewer showings and fewer showings
	...

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