commission lawsuits
Issue 153 - October 27th, 2023
“Sam, how do you think the commission lawsuits will impact the industry?”
I have been asked this question at least 10 times per day over the last few weeks, and I have been giving it a lot of thought as some massive change potentially works its way into the real estate industry.
My simple answer is that I have zero idea how lawsuits and settlements will impact commissions in America in the future. No one does to be honest because none of us can predict the future and absolutely no one can control the outcome at this point.
The one thing I do know is that change is inevitable, and the best way to prepare for change is to recognize that it happens and surprises happen all the time. The people who are “SHOCKED” when things change are usually the ones who lose. People who prepare for change and have an open mind towards change always find ways to win.
Arguing over the potential future for a changing commissions landscape is not where I want to spend my time right now. I am focused on developing new ways to serve our customers and to prepare our company for change. I know by focusing our efforts here and obsessing over our customers needs (real estate agents) that we will find ways to win.
One of my favorite quotes and frameworks from the legend Jeff Bezos:
"There are many ways to center a business. You can be competitor focused, you can be product focused, you can be technology focused, you can be business model focused, and there are more. But in my view, obsessive customer focus is by far the most protective of day one vitality."