Settle Down

Splits and Caps Daily: Action for Agents

October 28, 2024

📈 Market Move:

Payout Pushback

It’s raining settlements in the brokerage world. This week, nine major brokerages are set to settle a case with a whopping $110 million on the table. And while settlement hearings usually run on autopilot, some plaintiffs and objectors are throwing wrenches in the works, pushing for delays and even arguing that these payouts are way too light.

Meanwhile, other hefty settlements are coming down the pipeline: two mega-players have a combined $668 million hearing in November. And while RE/MAX, Anywhere, and Keller Williams are already locked into their deals, appeals are keeping things lively.

In the latest twist, a separate objection to eXp's $34 million settlement claims they nabbed a “sweetheart deal” with lower damages than competitors. The case’s upshot? The industry’s commission structure is under serious scrutiny, with big payouts hinting at even bigger shake-ups. Stay tuned for more turbulence.

🌟Quote of the Day:

"The only limit to our realization of tomorrow is our doubts of today." – Franklin D. Roosevelt

📊🤔 Agent Poll Results

On 10/25, we asked: If the Clear Cooperation Policy could only go one way, what would you choose?

The results are in…a 3-way tie!

Keep it as is: 33.3%
Make some changes (what changes would you make?): 33.3%
Ditch it entirely: 33.3%

Top Comments:

In favor of "Keep it as is”:

“‘Keep the market transparent’ but hide it from the public? Contradiction. I’m not familiar with what this committee does to begin with, but this one doesn’t make sense for sure!”

In favor of "Make some changes (what changes would you make?”:

“More than 24 hours”

In favor of "Ditch it entirely”:

“The elaborate maze of national and regional regulations have become a guardian of the poorly trained and functionally questionable. The majority of these low end agents are nothing short of an embarrassing discredit to the profession. These rules, and some of the Code of Ethics, allow these infidels to get a license, find an agency greedy enough to take them on, and then they skim the cream of family and friends who risk what is probably their biggest asset now handled by these incompetent twits. I’m embarrassed to be an agent…and the NAR and many regional and local extensions of their questionable leadership ought to be ashamed of themselves. They masquerade as guardians of the public trust when in fact they are nothing short of doing quite the opposite.”

Thanks to everyone who joined the convo! Always a blast hearing your thoughts and diving into the debate!

🎉 Fun Fact of the Day: 

First-Ever Real Estate Investment? Egypt! The pyramids may be ancient wonders, but they were also prime real estate investments. Pharaohs built them as their eternal "homes," and the land was chosen for its proximity to the Nile. Location, location, location!

📚 Book Recommendation:

"The 10X Rule" by Grant Cardone – Grant Cardone doesn’t play small, and neither should you. The 10X Rule is all about turning up the intensity and multiplying your efforts to achieve massive success. Cardone’s strategy is simple: set goals 10 times bigger than what you think is possible and work 10 times harder to reach them. Want to dominate your market? Start here.

Want to level up even more? Hit the Agent Bookshelf for top reads, Agent Articles for real estate gold, and Agent Resources for the tools to boost your biz—go get it!

Wrapping it up! Stay on your grind, stay strategic, and remember—success is built one move at a time. Let’s go make those moves!

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