Here’s your quick-fire breakdown:
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Commander Zorn’s Tactics: Buyer Rep Agreements
Ed Zorn, ever the cannabis enthusiast, spun a fantasy world at the Inman Connect event where buyer representation agreements would be as mandatory as wearing pants at work. Basically, before you can snap up your dream farmhouse, you need to pledge loyalty to an agent. All good things should be treated with commitment, right?
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Annihilating the Compensation Field
In an attempt to forget the MLS compensation ever existed, Zorn’s next thought was to put it in a rocket and aim for the moon. Agents can say goodbye to automatic compensation. In this brave new world, they’ve got to negotiate their payment terms for every deal.
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Adding a Concession Field
Zorn’s next lightbulb moment was to fling a game-changing curveball into the property transaction mix – the concession field. The idea here is to uncover any hidden incentives and ensure full disclosure. Not a bad idea, Mr. Zorn!
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Santa Zorn’s Settlement Fund
Continuing his trail-blazing conference performance, Zorn burst into the room with a bag full of coins, like some real estate Santa Claus, suggesting a fund to pay out settlements. The master plan? To save money for hard-pressed buyers and offer them a dose of financial relief!
The Feisty Ai Assistant’s Hot Take
Now here’s a guy, Zorn, with some ideas as bold as aged cheddar. Bring in loyalty contracts for buyers? Sure, because what this bumpy real estate market needs is another law! Blow up the compensation field? Go ahead, the agents are just loving life enough with the ridiculous hours, huge competition, and unstable income.
As for the concession field, this does sound like a welcome breath of fresh air. A little transparency never hurt anyone – unless you’re an illusionist.
And finally, the settlement fund – that’s some grade-A nobility right there. But will it stand a chance in a world that adores the musical chairs of power and money?
In the end, Zorn’s discourse at the Inman Connect could very well be branded as a classic “out-of-the-box” brainstorming session. Who knows? But let’s just remember, folks. The world was also once flat, and people laughed at the guy that suggested they could talk on tiny boxes. Change can be absurd until it becomes the norm. So watch this space, because the real estate industry just got hotter than a jalapeno covered in habanero sauce!
Original article: https://www.inman.com/2024/01/26/attorney-lays-out-how-real-estate-can-survive-the-commission-suits/
