NAR's Settlement, What's not being said

NAR’s Settlement, What’s not being said

by Corcoran McEnearney

Here’s what’s not being published: why consumers choose to pay us.

Salacious headlines that imply consumers have been duped into overpaying (the same fee) are wrong. That would assume we’re all the same. Also – wrong. Who you hire matters. I don’t care if it’s your hair or your house. Results vary and will depend on who you hire.

Consumers are smart.

They already make hiring decisions based on what they need. They’ve had options long before now to buy and sell however they’d like.

Their decisions are the result of a balanced risk assessment.

Take hair, for example; if a consumer’s goal is to get a simple trim without spending a lot of money, they know there’s a place they can go to accomplish that. If their goal is to make curly hair straight or straight hair curly, my bet is that they realize they may need someone with a bit more skill and expertise.

Let’s use your lawn as another example. Let’s say a foreign species has taken over and is growing at a ridiculous rate. If consumers want to mow it down, they’ll likely do it themselves. If they want a treatment program that actually eradicates the weed, my bet is that they understand it may take more time, effort, and money.

You’re probably thinking, “Yeah—but those are simple things. Buying or selling real property is different.”

Exactly.

Buying and selling real property isn’t straightforward, simple, or low stakes. To propagate any other idea is misleading and harmful.

It surprises me that large news outlets write headlines that harm. Naïve of me to think they’re immune to chasing clicks and likes. However, I bet if any one of them decided to sell or buy tomorrow, they’d sit across from a pro and be willing to pay them.

Why?

Because they know they shouldn’t do a big thing badly, and they know buying or selling is a big thing. It has real and impactful consequences, and there are nuances to their move.

As with any profession, skills matter.

And just like any other industry, we charge for our judgment, analysis, and consultation. I don’t care what billing structure you use (hourly, flat-fee, percentage-based, etc.); highly skilled people produce better results and charge for them.

The average consumer intuitively knows this – and they’re willing to pay the right professional.

The proposed settlement will reinforce what is already the best real estate system in the world and the pros who operate within it. To somehow infer otherwise is shortsighted and doesn’t give the consumer much credit.

If approved, NAR’s settlement would change some operational infrastructure and ensure clear communication and education between realtors and their clients.

This settlement isn’t about paying highly skilled realtors. They’re worth it, and don’t be fooled. Consumers know it.

Sandy McMaster, a licensed real estate agent with McEnearney Associates. For over a decade, Sandy has helped hundreds of people in Alexandria and the DC area successfully navigate the changes and reduce the uncertainty that can easily become overwhelming. This experience allows her to see around corners and anticipate roadblocks. When working with Sandy, it will allow you to move quickly, with confidence and the knowledge that, no matter what happens, she’s got you.

Take a look Sandy’s website for all of her listings available throughout Virginia and Washington, D.C.