At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.
Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: Industry analyst Ryan Tomasello, who predicted a 30 percent fall in commissions due to legal, economic and governmental challenges, prepares to take the stage at Inman Connect Las Vegas to discuss consolidation, disruption and innovation.
As a managing director at global wealth management and investment banking company Keefe, Bruyette & Woods, Ryan Tomasello leads the firm’s research coverage of fintech and real estate technology.
Tomasello and his firm first made waves back in October, releasing a report predicting the loss of a million Realtors and a 30 percent dip in commissions if the Department of Justice and buyer- and seller-initiated legal maneuvers resulted in a ban on cooperative compensation. That was before the Halloween verdict in the Sitzer | Burnett trial and the subsequent March settlement from the National Association of Realtors.
EXTRA: NAR to shed 1M members if shared commission banned, analysts say
This week, Tomasello will take the stage at Inman Connect Las Vegas to talk about industry consolidation, disruption and potential innovation. Matt Carter sat down with Tomasello for a pre-ICLV Q&A to learn more about what he calls a “watershed moment” for the real estate industry.
The analyst who predicted a 30% fall in commissions has more to say by Matt Carter
While Tomasello and his firm throw around some big numbers when predicting changes in the industry, he took pains to explain that those changes won’t be immediate.
“I think the key caveat there is that it’s likely to take time,” Tomasello said. “It’s not something that will happen overnight. As much debate as there’s been around how much commissions will decline, there’s an equal amount of debate around how long this impact will take to play out.”
Check out Carter’s interview with Tomasello and, if you’re in Vegas this week, don’t miss his Wednesday morning main stage appearance. Can’t make it in person? Grab your virtual ticket here for the livestream.
As always, we’re laser-focused on bringing you all of the information you need to navigate the new normal — without letting your business fall victim to any potential negative effects. This week, we’re sharing ideas to help you build and scale, embrace the potential of M&A, fine-tune your marketing and pivot to a seller focus.
In addition, in this week’s Pulse survey, we want to find out what questions still haven’t been answered adequately from your perspective. Your answers will help drive the content we provide in the weeks ahead.
As rules change, your best friend is an entrepreneurial
Entrepreneurship isn’t just good for individual real estate pros, PR and marketing expert Molly McKinley writes. It’s good for organizations and for the industry as a whole.
EXTRA: Forget mega-agent recruiting. Recruit brokerages instead
As commission conversations change, become a seller
Consumers expect specialization in every area of life, from doctors to hairdressers, coach Verl Workman writes. They should expect no less from their real estate expert when it’s time to sell.
EXTRA: Demystifying KPIs and essential marketing
What unanswered NAR settlement question are you stressing? Pulse
Buyer agreements for open houses? Workarounds? Concessions? As agents race to comply with terms of the NAR settlement on Aug. 17, Inman wants to help answer your toughest questions.
Christy Murdock is a writer, coach and consultant and the owner of Writing Real Estate. Connect with Writing Real Estate on Instagram and subscribe to the weekly roundup, The Ketchup.
