Waning Trust in Data, News Sources Has Brokers Looking Inward RISMedia [Video]

The maelstrom of change and upheaval sparked by a commission-lawsuit pile-on, subsequent practice changes to compensation structure and a media feeding frenzy may have shifted who real estate brokers trust—and who they are depending on to guide them through a still very uncertain time.

In RISMedia’s latest Broker Confidence Index (BCI) survey of the country’s leading real estate business owners, brokers appear to be relying heavily on in-house or third-party research and experts to provide them with answers and data, while their trust in institutions like the media and the National Association of REALTORS® (NAR) is flagging.

“I am afraid buyers and sellers have received bad advice about the recent changes,” wrote one broker, who requested to remain anonymous.

While the settlement might have shaken brokers’ trust in some institutions, the lack of major disruptions in these first few weeks might have helped boost their confidence, as the overall BCI …