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Real estate sales
Scottsdale’s Russ Lyon Sotheby’s prepares for new commissions law
(Courtesy Metro Creative Connection)
Scottsdale’s Russ Lyon Sotheby’s is taking steps to comply with the new regulations on commissions.
Posted
Russ Lyon Sotheby’s International Realty has represented buyers and sellers for the past 77 years in Arizona.
But as many brokerages across the country and in Arizona have experienced, there has been a shift in the way buyer-broker commissions could be advertised on the Multiple Listing Services, following a national class-action lawsuit against the National Association of Realtors that occurred in 2019.
Russ Lyon Sotheby’s is committed to complete compliance with the industry’s new regulations and has developed a strategic plan implementing the best practices for continued success and leadership.
To meet the challenges ahead the brokerage created a series of documents to ensure its global real estate advisors were fully prepared for the changes and equipped to communicate effectively with their clients. These resources included buyer and seller Guides.
Owners, managers, brokers and agents attended several pre-change classes to address questions and provide updates as they became available. Then, following the changes, the brokerage again organized more classes to ensure all agents felt comfortable with the new forms and could address any questions that arose.
The company’s management team continues to meet weekly to discuss the changes and brainstorm the best strategies to ensure its agents continue to succeed.
Post-change, the brokerage has hosted multiple sales meetings and Zoom events, discussing possible scenarios and answering questions about all of the changes. The brokerage has also continued to feature critical information and reminders at the top of its weekly newsletter, offering another valuable resource for their team agents.
