Skip to main content

A Message from Joe Skousen

Published Date
Author Joanna Harrison

To Our Friends and Industry,  

As we navigate the evolving landscape of real estate, it is imperative for brokers and team leaders to rise to the occasion, guiding and empowering their agents to face these challenges head-on. At Inside Real Estate, we understand the profound role we play as technology leaders in this transformation, and we are unwavering in our commitment to support you every step of the way.

As you know, the National Association of Realtors (NAR) has recently issued a ruling that requires all Multiple Listing Services (MLSs) to remove the field displaying buyer agency compensation by August 17, 2024. In the wake of this ruling, there is understandably a great deal of speculation and messaging in the space. 

Let me provide you with a clear understanding of our position regarding this matter:

  • For sellers: Agents will continue to work closely with their sellers by discussing and  understanding their needs and priorities so they may best negotiate deal terms, as well as negotiating commission for their services. Critical to these discussions is understanding potential concessions a seller might consider in future negotiations. However, it is crucial that agents refrain from publicly promoting negotiation details (including aspects of commission concessions, etc) reserving these for individual offers.

  • For buyers: Agents must enhance their proficiency in conveying their value, discussing compensation options, and strategizing how their buyers approach homes, sellers, and offers. This will enable agents to craft compelling offers tailored to each buyer’s unique needs. This area will continue to develop, but it is essential to maintain the confidentiality of commission and concession terms, focusing instead on individual negotiations.

Our technology strategy aligns with these principles. We have and will continue to enhance our products to facilitate effective value communication with clients, along with streamlined workflows and automation for presentations and offers.

Relentless innovation is in our DNA– the culmination of which is at the forefront with our product portfolio, BoldTrail. One of our flagship offerings, Present, our next-generation CMA & Presentation Builder, has expanded its capabilities to include buyer presentations designed to help agents win representation every time and better communicate their value to their clients. With three distinct presentation types—win the representation, buyer tour, and win the offer—your agents are equipped to excel in any situation.

Additionally, we recently launched our new Page Editor, a user-friendly tool that allows you to create various custom landing pages. Whether it's crafting a buyer's guide or generating niche leads, this feature adds tremendous value to your marketing efforts.

In BoldTrail BackOffice, we are upgrading buyer representation workflows to improve efficiency, support compliance, and enhance reporting. These enhancements are designed to streamline operations, freeing your agents to focus on what they do best—serving their clients.

The power of a collaborative and strategic community cannot be overstated. This has been a cornerstone of our approach and will be even more critical in the coming months. Fostering ongoing learning and the exchange of ideas will be instrumental to our collective success.

Together, we will not only navigate these changes, but will emerge stronger and more resilient. We are dedicated to supporting your success every step of the way.

With gratitude,
Joe Skousen,
CEO, Inside Real Estate