RISMedia's 2024 Contract & Commission Study Reveals Critical Industry Shifts
Wednesday, November 6, 2024
New Study Offers Essential Insights for Brokers and Agents as Compensation Trends Evolve
NORWALK, Conn., Oct. 29, 2024 /PRNewswire/ -- In a pivotal moment for the real estate industry, RISMedia has unveiled its groundbreaking 2024 Contract & Commission Study, providing the first comprehensive analysis of how real estate commissions have changed in the wake of recent settlement decisions. As commission rates fall, this independent study offers critical insights for brokers, agents and industry stakeholders, highlighting key shifts and emerging trends.
For months, speculation swirled about the future of real estate compensation. Now, RISMedia can definitively confirm that commission percentages have declined. The study, which surveyed over 1,300 agents and brokers nationwide, explores the immediate impacts of these changes, addressing how agents' compensation is evolving post-settlement.
While some commentators have warned that shrinking commissions could spell disaster, the 2024 Contract & Commission Study reveals that innovative brokerage models, regional differences and adaptable agents are finding ways to navigate the new landscape. This study offers a roadmap for success, helping real estate professionals understand where and how compensation is changing--and how to remain competitive in this challenging environment.
Key insights from the study include:
-- The Fall of Commissions: What the data reveals about buyer agent and
listing agent compensation, and how each side is faring post-settlement.
-- Regional Trends: The regions seeing the biggest changes in commission
rates, especially those with mandatory buyer agreements before the
settlement.
-- Adapting to Change: How (or if) companies are shifting their commission
structures, fees and profit-sharing models in response to tightening
margins.
-- Splits and Margins: What's happening to commission splits as agents and
brokers adjust to these seismic shifts.
-- The Future Agent: How agents' priorities are changing, from referral
fees and compensation caps to in-office work and new innovations.
The study, which covers the last year of data--both before and after the settlement--delivers critical analysis for real estate professionals seeking to understand how policy changes are reshaping the industry.
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ABOUT RISMEDIA
Founded in 1980 by CEO and Publisher John E. Featherston, RISMedia has been the definitive source for news and information for the residential real estate industry's most profitable and productive professionals. With over 40 years of industry expertise, RISMedia continues to provide unparalleled insights, strategies, and trends, along with premier educational and networking events. For more information, please visit www.rismedia.com.
Media contact:
Jesse Williams
jwilliams@rismedia.com
View original content:https://www.prnewswire.com/news-releases/rismedias-2024-contract--commission-study-reveals-critical-industry-shifts-302290377.html
SOURCE RISMedia
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