Rob and Greg return with some news from north of the border and a discussion regarding what the real estate industry in the states might learn from recent regulations imposed in British Columbia.
Rob explains the dysfunction in the Vancouver housing market that led to disreputable behavior on the part of some realtors and the public outcry that followed. He and Greg also debate the likelihood of something similar happening here in the US. Listen in to understand the parallels between the systems in Canada and the US and how leadership in the industry could prevent an analogous government intervention here.
What’s Discussed:
The similarities between the Canadian and US systems
The Trump administration’s position on regulation
Why regulations are more likely to be imposed on a state (rather than federal) level
The impetus behind the public outcry in British Columbia
Why the standard form contract clause allowing a buyer to assign the contract to someone else without seller approval was added initially
How price fluctuations in the Vancouver market led to the practice of shadow flipping
Why government intervention is rarely precision reform
How British Columbia changed the way the regulatory body works
The steep fines agents and brokerages face if found in violation
The likelihood of a similar phenomenon happening in the US
How the real estate industry could maintain its privilege to self-regulate
Resources:
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Rob and Greg return with reinforcements this episode for a round table discussion regarding the
#NARGirlBoss movement and its implications about the necessity of a culture change in the industry. They are joined by Sunny Lake, David Charron and Andrea Bushnell, each of whom have a unique take on the NAR CEO selection process.
Lake is the founder of the #NARGirlBoss Movement, a campaign aimed to help realtors choose the NAR’s next CEO in a transparent, collaborative process by raising awareness of accomplished women leaders in the industry. She has 13 years of experience in real estate, most recently serving as Principal Managing Broker of Coldwell Banker Bain|Seal in Bellingham, Washington. Lake is currently Managing Broker of eXp Realty.
David Charron is the Chief Strategy Officer of Bright MLS, Inc. and President at MRIS Investors in the Washington DC Metro Area. He has an extensive background in real estate, information systems and internet business solutions. Charron has been an industry leader for many years and was the first recipient of the Peter Shuttleworth MLS Executive Award of Excellence. In 2016, he was named by Inman News to the Inman 101 for driving industry change. He has been a key voice in the conversation around the evolving role of the MLS and a proponent of innovative tools, partnerships and business practices.
Andrea Bushnell is the CEO of the North Carolina Association of Realtors, where she has served since 2010. After earning a degree in law from Lewis & Clark Law School in 1988, she was a partner with the firm Burt, Vetterlein and Bushnell for several years before becoming the Director of Business and Legal Affairs for Rentrak. Bushnell spent 13-plus years at the helm of the Oregon Association of Realtors before making the move to North Carolina. In 2016, she received the prestigious William R. Magel Award of Excellence, awarded annually by the NAR to an association executive who has truly excelled.
Listen in as these industry leaders discuss the intentions of the #NARGirlBoss movement, the nominating committee’s approach to hiring a new CEO and the need for a culture change in the real estate industry.
What’s Discussed:
The intention of the #NARGirlBoss movement
Women in NAR leadership roles
The nominating committee’s approach to hiring a new CEO
The pressure on NAR to consider capable, competent women for the CEO position
The general sense of distrust of the NAR and resulting grass roots movement
Why a culture change is necessary in the industry
Bushnell’s experience as first female CEO of the North Carolina Association of Realtors
Lake’s effort to shine a light on up-and-coming female leaders who aren’t acknowledged
Resources:
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Rob and Greg are back with another outspoken discussion about current real estate industry topics. This time on the podcast they attempt to predict how the new POTUS might affect the state of real estate – and how difficult it is to predict what Trump and his administration might do. They cover the evolution of HUD under Ben Carson and his promise to cap or eliminate the mortgage-interest deduction.
Rob and Greg also address the powerful lobby that is the NAR and who might fill the shoes of CEO. Listen in to understand how the ‘Trumpening’ presents a particular challenge for the new leadership of NAR as organized real estate approaches a crossroads.
What’s Discussed:
The choice of Ben Carson as Secretary of Housing and Urban Development
How a real estate developer in the Oval Office might be good for housing
The affordability crisis in the housing market
The unpredictability of Trump and his cabinet
The lobbying muscle of the NAR
The best argument Greg has heard for getting rid of Fannie Mae, Freddie Mac and the mortgage-interest deduction
Who might succeed Dale Stinton as CEO of NAR
The big challenges of organized real estate that the new NAR CEO must address
The role of personal relationships between the lobby and career bureaucrats
Resources:
Andreesen Horowitz’s Fintech Podcast
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Welcome to the inaugural episode of Industry Relations, recorded live from Inman Connect NYC. Join Robert Hahn, Managing Partner of real estate consulting firm 7DS Associates, and Greg Robertson, Co-Founder of real estate software company W+R Studios, as they engage in frank discussions about current real estate industry topics.
This time on the podcast, Rob and Greg debate the state of the MLS, the problematic relationship between the MLS and associations, and potential systemic changes. Listen in as these industry insiders argue the critical obstacles facing the MLS – unfiltered.
What’s Discussed:
Rob and Greg’s take on the problems with the current MLS system
The dichotomy between low fees and great products and services
The need to identify and address the MLS’s that don’t follow the rules
Why MLS execs deserve much credit for the tough work they do in furthering cooperation and compensation
How associations might evolve if divorced from governance of the MLS
The role of politics in local MLS boards
Upstream’s potential to create chaos in the real estate data marketplace
How emerging leaders in MLS might feel about changing to a for-profit model
The broker narrative regarding the role of the MLS
Resources:
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