'Unfiltered': Top MLS lawyer talks DOJ, concessions
Watch the conversation with Ed Zorn as he explains why agents don’t need to panic come Aug. 17, but they do need to hone their pitch — and negotiation skills.
NextHome CEO James Dwiggins has emerged as a significant voice on the topics that are shaping the real estate industry: lawsuits, innovation, leadership. But Dwiggins doesn't just answer questions, he asks them of guests on Real Estate Insiders Unfiltered, his podcast with Keith Robinson, NextHome's chief strategic officer.
On this week's episode of Real Estate Insiders Unfiltered, Ed Zorn, VP and general counsel at CRMLS, tackles timely topics — the DOJ, buyer agreements and "what-if" scenarios keeping agents up at night — offering scripts and practical advice for success.
Watch now to learn more: Zorn doesn't think compensation rule changes are going to upend the industry or leave agents high and dry.
While some have expressed concern that the DOJ will try to ban seller concessions, Zorn disagrees. "I see no criticism from the DOJ going against the concessions in light of the… data that we have in place right now that dispels this fanciful thinking that a concession is just some kind of replacement of compensation. The actual data shows the exact opposite."
He also doesn't believe concessions will set off the DOJ's steering radar: "As long as it is open for the buyer to use it any possible way the buyer wants to use it, that is not steering."
For agents worried about conversations with their sellers — and especially their buyers — Zorn and the gang roleplay different scenarios and talk through exclusive vs. non-exclusive buyer agreements.
The bottom line? It all comes down to negotiation skills, like it always has, and "higher-value agents should be able to actually command a higher fee."
The views, thoughts and opinions expressed in the Real Estate Insiders podcast belong solely to the podcast creators and guests, and not Real Estate News.