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Days before agents and brokers across the country are set to adapt to changes brought on by a wave of lawsuits targeting agent compensation, the Real Brokerage has released a guidebook it says is designed to help agents navigate the new landscape.
The website includes videos and other resources that the firm said were designed for agents looking to comply with new rules brought on by a settlement from the National Association of Realtors. The practice changes take effect on Aug. 17.
“We believe that the best way to navigate the new rules is through clear communication. Our focus is on education and providing resources to all agents,” Sharran Srivatsaa, Real president, said in a statement. “At Real, we fundamentally believe in making all agents’ lives easier, better and less stressful. By bringing this education to all, we are raising up our entire industry, which is good for agents and the consumers they serve.”
Real is supporting the new site with a series of 90-minute online workshops with top representatives from the brokerage. The first webinar streams at 1 p.m. EST on Wednesday on Real’s YouTube channel.
On Aug. 17, buyer’s agents will need to obtain a buyer representation agreement with prospective clients before touring homes with them. The agreement must clearly spell out the broker’s compensation as part of the transaction.
Meanwhile, offers of compensation will no longer be allowed to be made on multiple listing services. Buyers are still welcome to negotiate with sellers, who are free to offer to pay buyer broker compensation.
Real said it created a guidebook that breaks down all the changes to support buyer’s agents. The firm also created material that agents can share with clients to help agents explain the changes.
The company is also going to host public events regarding objection handling on Aug. 15. On Aug. 19, the company will offer live training and role-play sessions. The events will be led by Drew Thompson, the head of Real Academy.
Thompson will then hit the road, visiting 10 U.S. cities to provide training after the NAR settlement changes take effect.
