Historic Changes To The Residential Real Estate Industry Will Be Good For You (And Are Similar To Changes Occur-ring In Financial Advice)

Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

Apr 11 2024 • 30 mins

Gone are the days of 6% commissions when selling a home!? Well, sort of. In this episode, we unpack the $418 million proposed settlement that will likely reshape the real estate industry. While change creates winners and losers, consumers will generally be winners as the industry wheat will further separate from the chaff.

Hear Tyler Emrick, CFA®, CFP®, reflect on similarities to the financial planning industry's evolution from stock traders to advisors, from selling products to providing advice. The changes have been positive for consumers, and there's still plenty of chaff to remove. To help you better identify the chaff, Tyler discusses advisory services that stand out and deliver more value to you for the dollars you pay.

Here’s some of what we discuss in this episode:

  • Background on the lawsuit and subsequent agreement for the National Association of Realtors (NAR).
  • The argument being made against real estate agents.
  • How this compares to past legislation in the financial planning industry.
  • The details of the agreement and how it might change fees and services.
  • The similarities to the financial planning industry and why there’s been a move towards a holistic approach.

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