It’s Time to Raise The Bar.

After ending 2023 with its first annual membership decline since 2012, the National Association of REALTORS® (NAR) anticipates ongoing challenges in retaining members due to reduced business opportunities and the changes from the NAR Settlement. Axios and The Washington Post believe many agents could leave the industry as the new commission rules may impact less experienced agents or those who struggle to justify their fee, leading to natural attrition of less effective agents.

A report by the Consumer Federation of America found,

• 49% of agents reported 0 or only 1 sale a year

• 70% of agents reported 5 or fewer sales a year

• The median number of sales was barely 2 a year

Ralph’s Take

Our family founded Ragetté Real Estate 139 years ago with a commitment to transparency and integrity — a principle we've upheld for five generations and through many industry changes. With the recent policy updates, it's crucial to maintain this standard by ensuring full transparency in broker commissions.

While I understand many agents are upset, frustrated, and even considering leaving the business, I believe our focus should remain on earning our clients' trust through integrity, not by limiting access to listings based on compensation. Embracing these changes and the benefits they can potentially bring our clients is exciting (more on this next week), and I’m thrilled to be part of the next chapter in real estate!