Although
more
agents
are
fielding
questions
about
the

commission
lawsuits
than
they
were
a

quarter
ago,
they
also
remain
optimistic
about
where
the

housing
market
is
headed
in
the
second
quarter
of
2024,
according
to
the

RealTrends
Q2
2024
AgentPulse
survey.

The
survey,
which
was
conducted
between
the
end
of
March
and
early
April,
garnered
138
respondents:
34
from
the
Northeast,
29
from
the
Southeast,
21
from
the
Midwest,
38
from
the
Southwest
and
16
from
the
Northwest.
Of
the
138
respondents,
109
were
part
of
a
national
brand
and
28
were
part
of
an
independent
firm.

Additionally,
18
of
the
respondents
identified
as
team
leaders,
112
identified
as
real
estate
sales
associates
or
broker
associates,
and
15
identified
their
position
as
other,
with
the
most
common
response
being
broker-owner
of
their
firm.

Looking
at
second-quarter
2024,
more
than
half
of
respondents
(53%)
believe

home
sales
will
increase
by
more
than
5%
in
the
next
three
months,
while
38%
believe
sales
will
remain
flat
and
only
10%
believe
that
sales
will
be
down
more
than
5%
in
their
market.

In
addition
to
sales,
the
majority
(57%)
of
respondents
believe

home
prices
will
be
up
more
than
5%
in
Q2,
while
35%
believe
they
will
be
flat
and
7%
believing
they
will
drop
more
than
5%.

When
it
comes
to

interest
rates,
most
agents
believe
they
will
go
up
(10%)
or
remain
flat
(69%)
over
the
course
of
the
quarter,
and
21%
believe
they
will
go
down.
Most
survey
participants
submitted
their
responses
prior
to
the
publication
of
the

March
inflation
data
last
week,
which
may
have
impacted
responses.

Although
interest
rates
will
certainly
be
a
challenge
in
Q2
2024,
respondents
ranked
it
as
the
second-greatest
challenge
they
are
facing
this
quarter.
Taking
the
top
spot
as
the
greatest
challenge
was

low
inventory,
with
nearly
half
(49%)
of
respondents
ranking
that
as
their
biggest
challenge.
In
a
similar
vein,
“getting
listings”
was
the
third-largest
hurdle
cited
by
agents.

Despite
the
numerous
headlines
of
late,
only
8%
of
agents
ranked
“uncertainty
on
how
to
proceed
after
NAR’s

commission
lawsuit
settlement”
as
their
greatest
challenge.

When
asked
about
the
language
they
use
to
discuss
how
buyer
and
seller
agent
commissions
are
paid,
some
of
the
most
common
responses
included
stressing
that
commissions
are
and
always
have
been
negotiable,
and
that
if
the

National
Association
of
Realtors’

settlement
is
approved,
some
practices
may
change,
but
many
things
are
currently
unknown.
Some
agents
also
reported
that
they
show
their
seller
clients
what
other
sellers
in
the
area
were
offering
in
terms
of
buy-side
commissions.

“I
tell
sellers
we
can
expose
their
home
to
a
broader
market
by
offering
a
buyer
agent
compensation,”
one
respondent
wrote. 
“Most
buyers
here
cannot
pay
realtor
commissions
because
they
are
VA
(Veterans
Affairs
borrowers).”

Another
wrote
that
when
they
“speak
to
sellers
who
are
asking
[they]
explain
to
them
that
in
this
competitive
market
with
lack
of
inventory
if
they
want
to
receive
strong
bids
and
multiple
offers
on
their
property,
they
should
consider
offering
compensation
for
buyers
agents.

“As
of
now,
in
my
marketplace,
it
is
business
as
usual
until
the

Department
of
Justice

takes
a
stand,”
the
respondent
continued.
“With
buyers
who
are
asking
I
explain
the
situation
and
let
them
know
that
there
could
be
a
strong
possibility
they
would
need
to
pay
a
percentage
if
not
all
of
the
commission
agreed
upon
to
me
as
their
buyers’
agent
and
that
we
need
to
enter
into
a
contract.”

Survey
participants
shared
similar
thoughts
when
asked
how
they
respond
to
homebuyer
questions
about
the

commission
lawsuits,
with
many
noting
that
they
stress
that
commissions
are
negotiable
and
that
a
settlement
has
been
reached,
but
nothing
has
been
finalized
yet.
Others
noted
that
the
practice
of
cooperative
compensation
has
been
codified
as
a
legal
practice
in
many
states,
so
they
ask
their
clients
what
they
have
read
or
heard
and
what
specific
questions
they
have.

“I
would
highlight
that
the
real
estate
industry
operates
within
legal
frameworks
and
regulations
to
ensure
fairness
and
transparency
in
transactions.
Additionally,
I
would
emphasize
that
as
a
professional,
I
adhere
to
ethical
standards
and
strive
to
provide
transparent
communication
with
clients
about
commission
structures
and
any
potential
implications,”
one
respondent
wrote.

“Furthermore,
I
would
encourage
homebuyers
to
ask
questions
and
seek
clarification
on
any
aspects
of
the
real
estate
process,
including
commissions.
By
fostering
open
dialogue
and
providing
accurate
information,
my
goal
is
to
alleviate
concerns
and
build
trust
with
homebuyers
throughout
their
real
estate
journey.
Ultimately,
my
priority
is
to
ensure
that
clients
feel
informed,
supported,
and
confident
in
their
decision-making
process.”

Unlike
in
the
Q1
2024
AgentPulse
survey,
fewer
than
five
respondents
said
they
have
not
had
clients
ask
questions
about
the
lawsuits.

Although
more
agents
and
brokers
are
fielding
questions
about
the

commission
lawsuits,
many
still
reported
that
nothing
or
very
little
has
changed
about
their
day-to-day
business
practices.
For
those
who
have
changed
their
practices,
the
most
common
responses
were
regular
use
of
exclusive
buyer
agency
agreements,
more
in-depth
buyer
presentations
and
noticing
that
their
MLS
is
allowing
for
$0
commissions.

Even
though
agents
certainly
have
their
work
cut
out
for
them
this
quarter,
only
14%
of
respondents
reported
feeling
pessimistic
about
the
market,
while
43%
of
respondents
said
they
feel
optimistic
and
42%
reported
feeling
neutral.

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