Navigating New Waters: The Future of Commissions & Industry Adaptation

Got a good one today on Talking Manhattan! Noah and John sit down with special guest Ryan Tomasello, Managing Director at KBW, to delve into the transformative changes coming to the real estate industry with a particular focus on new commission structures and the implications of lawsuits against NAR and other major brokerages. We discuss the impact on agents and consumers with potentially more transparent and lower commission rates and the evolution of market structures with increased competition and more diverse pricing models. As a Wall Streeter, Ryan provides a unique, outside perspective on broader economic effects, and in this episode, he underscores the need for real estate professionals to be ready to adapt to changes while effectively communicating value. This is a good one to help you stay ahead and remain competitive in our rapidly evolving industry! Highlights: 02:06 - A high-level overview of what's happening 04:00 - Part of a much bigger storyline 07:50 - "There's a reset coming" 10:36 - Possible new revenue models 13:55 - The 80/20 rule 16:35 - Knock on effects 20:00 - Timeline 23:14 - Winners and losers 25:11 - Final thoughts Ryan's page at KBW: https://www.kbw.com/about-us/our-team/research/ryan-tomasello/ Ryan's page on LinkedIn: https://www.linkedin.com/in/ryantomasello/ ** Want to impress a buyer or seller? Use UrbanDigs Advisor! ** Need data to anchor a listing pitch or support a price reduction? Our customized deep dives close deals faster and make you look like a hero. Plus, subscribers get a big discount so the ROI is literally OFF. THE. CHART. Email support@urbandigs.com and let us know what you need. https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/