Things
just
keep
getting
better,
according
to
real
estate
brokers
surveyed
for
the

Q2
2024
HousingWire
BrokerPulse
survey,
with
54%
who
are
“optimistic”
about
the
next
three
months
in
residential
brokerage,
compared
to
some
48%
of
those
surveyed
for
the

Q1
2024
HousingWire
BrokerPulse
survey
who
felt
the
same.

The
same
can’t
be
said
about
their
optimism
over
interest
rates,
where
74%
said
they
would
be
flat
and
22%
said
they
would
go
down
in
the
next
three
months,
compared
to
some
60%
last
quarter
who
said
that

interest
rates
will
go
down
in
the
next
three
months.
What
a
different
a
few
months
makes.

As
for
the
direction
of

homes
sales,
the
results
were
mixed
with
59%
saying
they
will
be
up
5%
or
more
and
37%
indicating
that
homes
sales
will
be
flat
over
the
second
quarter
of
2024.

Real
estate
leaders
where
mixed
when
it
came
to
the
direction
of
home
prices,
as
well,
with
46%
(down
from
65%
in
Q1
2024)
saying
they
would
be
flat
over
the
next
three
months
and
50%
(up
from
29%
in
Q1
2024)
indicting
they
would
be
up
5%
or
more.

Training
and
production
top
challenges

Training
real
estate
agents
on
new
business
practices
resulting
from
the

NAR
commission
settlement
is
tops
when
it
comes
to
brokerage
challenges.
That’s
no
surprise
since
agents
will
have
to
learn
how
to
articulate
their
value
and
be
better
negotiators
when
it
comes
to
compensation.
“The
changes
are
much
needed,”
said
a
broker/owner
of
an

Engel
&
Völkers 
firm
in
the
south.
“It
will
level
up
the
professional.
My
agents
are
well
trained
and
prepared
as
we
use
a

Buyer
Broker
Agreement
and
have
buyers
offset
any
[brokerage
compensation]
that
the
sellers
do
not
pay.
This
will
be
an
easy
transition
for
us.”

Not
everyone
is
optimistic.
According
to
one
independent
broker
in
California,
there
will
be
a
“increase
in
dual
agency
with
buyers
going
direct
to
listing
agents.”
Another
independent
broker
from
Washington
said,
“There
will
be
commission
compression
that
will
lead
to
decreased
revenue
within
the
brokerage
model.”

Other
top
challenges
(in
order
of
biggest
challenge
to
smallest)
include:

• Increasing
  per-agent
  productivity
• Reducing
  operational
  expenses
• Pressure
  on
  net
  or
  gross
  margin
• Difficulty
  in
  recruiting

All
are
traditional
challenges
brokerage
face.

Changes
brokerages
are
making

When
asked
what
types
of
changes
or
new
services
brokers
are
considering
post-settlement,
many
commented
that
they
will
move
to
a
flat-fee
model
for
buyer
agents.
“[For]
buyers
brokers
a
flat-fee
is
a
good
idea,”
said
a


HomeSmart
broker.
However,
many
shared
the
sentiments
of
this
Florida-based
teamerage
leader,
“I’m
not
sold
on
the
flat-fee
business
model
for
buyers.
I’m
skeptical
it
can
work
at
scale.

Flat-fee
options
have
been
around
for
years
and
have
not
had
significant
traction.
Consumers
need
full
service
for
an
infrequent
transaction.”

Others
said
that
buyer
consultations
will
become
the
new
normal
and
be
treated
just
as
listing
consultations
are.
But,
the
majority
say
they
are
“waiting
for
it
to
play
out”
or
aren’t
making
any
changes.
“For
now,
we
will
conduct
business
as
usual
with
our
company
sharing
our
real
estate
fee
with
cooperating
brokerages,
always
with
the
seller’s
permission
in
writing,”
said
a
CENTURY
21
broker
in
Arizona.

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