All right, everybody. I just wanted to go over something that has come up with the people I talk to — my buyers and sellers. It's okay to be confused by the NAR settlement; it doesn't make any sense. What happened is that you got this settlement, and then you saw all these headlines in the newspapers saying that commissions are going to get cut, and as a seller, you're never going to have to pay any concessions or commissions, or anything like that. The buyers are only going to pay their side. It wasn't lies, but things really haven't changed much from how they've always been.

For example, you could always list your house for a flat fee on the MLS for a price. That wasn’t new. A buyer could always be unrepresented when buying a house. There was never a time when a buyer had to be represented. So, there’s that confusion.

Now, here’s the bigger issue. No one at the DOJ is a real estate agent, a real estate broker, or even in our industry. They have no idea what goes on in a real estate transaction. They went to an Ivy League school, did their homework, knew the right people, and now they work as attorneys for the DOJ. That’s great for them, and I’m happy for them, but they’ve never had to make a dime off real estate. They've never sold a home, bought a home, or represented anyone in a transaction, so they don’t know what they’re doing.

It makes you wonder, how many other things have they screwed up like this NAR settlement? For now, just understand that there are rule changes that make transactions more difficult. It's okay to be confused. Even people in the real estate business right now are confused. We can go through as much training as you want, but when you're teaching people new methods that aren’t grounded in reality, they’re always going to be confused because it doesn’t make sense.

My advice to you is this: If you're thinking about listing your home soon, or buying a home, talk to your agent. Don’t be afraid to ask the questions you have, especially if you've seen headlines about the settlement. Make sure their answers make sense to you, and then move forward with the transaction.

This situation is going to last for a while. No one really anticipated the complexity of buying or selling a house. You can make it simple or difficult, but when you’ve changed the rules that have been in place for 25 or 30 years, no one’s really going to have an edge or understand the new way the game will be played. It’s the law of unintended consequences.

Ultimately, it doesn’t matter what I think about the settlement because I can’t change it. I can only do what I’m told within the space I’m in. So, don’t feel bad if you don’t understand what's going on, even if you’re well-read. It’s very confusing, and many real estate agents are dealing with the same confusion.

That’s all I have for today. I just wanted to point that out. Thanks for watching, and I’ll catch you soon.