After combing through hundreds of comments across The Broke Agent’s Instagram, X and Facebook, BAM has officially declared this year’s Real Estate Word of the Year…
COMPENSATION
It may not be as much of a buzzword as Oxford’s Word of the Year 2024 (brain rot, which saw a 230% usage increase—thanks, TikTok), but definitely the word every real estate agent has been forced to embrace this year.
Why “Compensation” Won the Real Estate Word of the Year 2024
The word commission has been a real estate staple for decades, but in 2024, agents are finding themselves swapping it out for compensation. The shift stems largely from the ripple effects of the NAR settlement and the high-profile Sitzer/Burnett verdict. These legal battles have made agents rethink how they communicate their value to clients.
Talking about “compensation” rather than “commission” adds an air of professionalism (and a touch of legal caution) that resonates with buyers and sellers alike. The underlying message? Agents are earning compensation for their expertise and service—not just taking a cut.
Runner-Ups for 2024
While compensation took the top spot, the runner-ups deserve some love for capturing the chaotic energy of this year in real estate:
- Commission: Old habits die hard.
- “New normal”: The overused phrase for the post-settlement way of real estate.
- Concession: Buyers, sellers, and agents all had to make them this year.
- Survival: A fitting mantra for agents in 2024.
- Election/Election Year: Because nothing gets buyers off the fence like a looming election.
- Written Agreement: As in, “Buyers now need to sign a written agreement.”
- Rateflation: A creative spin on skyrocketing interest rates.
- Representation: A reminder that quality representation matters more than ever.
- Sellout: We’re not pointing fingers, but we’re thinking this one’s directed at NAR.
- Ketchmark: …and his $1,450 hourly rate.
NAR-isms
This year’s crowd went all in on poking fun at the National Association of Realtors (NAR). Here are some of the standout NAR-inspired creations:
- NARcotics
- gNARly
- NARnia
- NARcolepsy
- fearNAR
- NARsty
- NARcissists
- NARflation
- sNARcriligious
- NARcs
ChatGPT’s Favorite Real Estate Words
No real estate roundup is complete without ChatGPT’s contribution to your listing descriptions. This AI just can’t quit words like:
- Nestled: Because nothing sells a home quite like pretending it’s hiding in the woods.
- Boasts: Even if it’s a single bedroom in need of serious love, it’s always boasting something.
Looking Ahead to 2025
If 2024 has taught us anything, it’s that the real estate industry never runs out of buzzwords. Whether you’re discussing rateflation over coffee or debating the finer points of compensation with clients, BAM is here to document every cringe-worthy, meme-worthy moment.
Think next year will be different? We’ll see. Until then, don’t forget to join BAMx—because no matter what the market throws at us, agents thrive when they’re prepared.
