After NAR’s Settlement and AI, How Will Brokers Evolve?

In the wake of NAR’s settlement in March, residential brokerage has arrived at an inflection point, if not an existential crisis. Future commissions are in question, as is the number of brokers that will be able to make a living in the sector going forward—and that’s just the impact of the NAR settlement. Residential brokers are also contending with the influence of AI, potential changes to the clear cooperation policy that governs multiple listing services (MLSs) and the advent of the “mega agent.”

All of these subjects and more were points of discussion during the “Future of Brokerage” panel hosted by Thesis Driven at this year’s Blueprint conference, which took place in Las Vegas from September 17-19. 

Moderated by Thesis Driven’s Editor-in-Chief, Brad Hargreaves, the panel comprised some of the leading professionals working in residential real estate and provided a diverse range of perspectives.

Offering a broker-focused view was Sue Yannaccone, President and CEO for Anywhere Brands and Anywhere Advisors, which operates numerous brokerage brands, including CENTURY 21, Coldwell Banker, Corcoran, and Sotheby’s International Realty. Chris Cox, Chief Technology and Digital Officer at Keller Williams, provided a perspective on how technological innovations are impacting the profession. While Spencer Rascoff, General Partner at 75 & Sunny Ventures and former CEO of Zillow, offered an understanding of how listing services fit into the increasingly complex equation.

Today’s letter will share insights from that conversation including:

• The current–and potential future–impacts of the NAR settlement in terms of commissions and unrepresented buyers;
• The prospect of “AI agents” and lower-cost buy-side agent alternatives;
• The future of the MLS in light of challenges to Clear Cooperation;
• Emerging technologies that could impact the brokerage landscape.