How to Guide Clients Through Contract Changes Smoothly

By John Bolos

John Bolos is a Broker, Owner, and Realtor with strong roots in the Charlotte area. Before founding the John Bolos Group at Keller Williams, he became one of the most sought-after agents in the Carolinas, which he has been serving since 2003.

Have you or your team been adapting well to the latest changes in the real estate industry? Let’s be real—change is hard, especially when it comes to decades-old practices. Without proper support, it may take a while for an agent to learn how to navigate these rules. That’s why today, we’ll go over the five most commonly asked questions and everything you need to know to prepare for smoother transitions and client transactions:

1. What are you seeing in the market after the NAR settlement? Our team has been closely monitoring the effects of the NA settlement and its impact on real estate agents and clients. Before the changes took effect on August 17, the market and social media were filled with apprehension about what this shift would mean. To address this, we’ve focused on developing a clear game plan that will help our team deliver these changes to our clients in a straightforward, reassuring way.

2. How do we ease client concerns and simplify the message? The approach has been to create a supportive narrative that not only alleviates clients’ worries but also avoids over-explaining complex legal jargon. By focusing on best practices, like daily check-ins and clear communication, our team has been able to adjust smoothly to the new requirements, enabling business to continue as usual.

3. Has there been a decrease in clients wanting to work with agents? Initially, there was concern that clients might hesitate to work with agents due to the new up-front cost structures or agreement requirements. However, as our experience has shown, these fears were largely unfounded. It’s not about charging large sums just to start a business relationship; instead, it’s about setting the right expectations and starting the relationship with transparency. Tools like Zillow’s one-page touring agreement have made it simpler for clients to get started without feeling overwhelmed by lengthy paperwork.

4. What changes have you seen in client paperwork requirements? Recently, organizations like the North Carolina Association introduced their own streamlined documents, which reflect the industry’s shift towards simplifying initial agreements. While traditional forms could be overwhelming, these new documents have made it easier to initiate client interactions and focus on relationship-building from the start. This simplification ensures that clients aren’t bogged down by legalities when they’re excited to begin the home-buying journey.

5. Who is responsible for paying commissions now: the buyer or the seller? The NAR settlement has influenced how commission conversations are handled, especially regarding who covers agent fees. While the responsibility often falls on the buyer, many sellers are open to covering these costs in today’s market, where average days on the market have increased from 7 to 37 days. Sellers recognize the value of bringing in a buyer’s agent and often agree to offer compensation, as it broadens the pool of interested buyers.

With new agreements and responsibilities, navigating the evolving landscape requires clear, honest communication with clients. By staying informed and flexible, our team has maintained strong client relationships and fostered confidence through these changes. Feel free to reach out at (704) 777-8090 if you want to learn more about how we’re adapting or our coaching methods. We look forward to hearing from you!