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For most of 2024, the atmosphere in real estate was marked by panic.
Months before the year began, the National Association of Realtors and major franchisors lost a jury trial over antitrust allegations, leaving unanswered questions about the future.
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Subsequent settlements from NAR and major companies provided some clarity, but uncertainty still loomed over the industry. Housing, one of America’s vital sectors, was in a state of limbo.
The chaos has somewhat subsided since then, but as 2025 begins, Inman spoke to brokers at medium and smaller companies to gather their insights. Surprisingly, these brokers shared some positive perspectives on the evolving landscape, despite the challenges faced in 2024.
The Benefits of the New Normal
Brokers highlighted several post-settlement developments that they view positively. A fundamental one is that consumers continue to rely on agents.
Anne Jones
“There is still a clear desire and a need in a particularly challenging market for a really skilled, hands-on broker,” said Anne Jones, the broker-owner of Windermere Abode.
Jones mentioned that while some consumers may opt for flat-fee or lower-cost models, her company in Tacoma, Washington, has witnessed the importance of expertise in certain transactions, especially for first-time buyers.
Courtney Poulos, founder and CEO of Acme Real Estate in Los Angeles, echoed a similar sentiment. She emphasized the necessity of guidance and representation for consumers in expensive purchases.
Courtney Poulos
Poulos has observed a positive trend in buyer agent compensation in her market, emphasizing the importance of negotiation power for sellers.
Tiffany McQuaid, president and broker of McQuaid and Company in Naples, Florida, also noted various positive developments and described the recent shifts as “fascinating” and “exhilarating.” One notable change is the flexibility in compensation offerings to buyers’ agents.
Tiffany McQuaid
This shift has provided agents with more clarity on their earnings and empowered them in negotiations.
Data Supporting the Brokers
Survey data from Inman Intel indicates that the experiences shared by these brokers are not isolated. The data suggests that while negotiations on agent compensation have increased, only a minority settle for below-market rates.
The survey also revealed that a significant portion of respondents have not experienced a change in commissions or have even seen an increase, aligning with observations from industry experts.
While challenges and friction still exist in the industry, the adaptability and resilience shown by brokers and agents point towards a positive evolution in the real estate landscape.
Email Jim Dalrymple II
