The market is rapidly dividing itself into two separate buckets — do it yourself, low (or no) commission models versus concierge-style service coupled with a unique value proposition (UVP). There’s a third bucket, however, where most agents fit. If you don’t fit into the UVP category, your commissions are about to take a major hit. I listened to multiple speakers at Inman Connect discuss “iBuyers,” Zillow Instant Offers and companies such as OfferPad, Opendoor and Knock, and it’s abundantly clear that the pressure on full commissions is increasing exponentially. The question is: what steps can you take today to protect your commission in the future? Are you Walmart, Sears or Neiman Marcus? Like real estate, retail is also bifurcating into two major camps. If you are in a reduced commission model, your situation is akin to Walmart. You’re constantly battling it over price (commission). Online marketers and aggregators are vigorously competing to gain market sh…
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