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Industry Relations with Rob Hahn and Greg Robertson

Rob Hahn a.k.a. The Notorious R.O.B. and Greg Robertson discuss organized real estate in a disorganized manner.
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Now displaying: June, 2019
Jun 21, 2019

Traditional brokerages got 99 problems. They’ve got to compete with iBuyers. They’ve got to compete with 100% commission models. They’ve got to innovate new products and services. They’ve got to figure out a way to make money off those products and services. And they’ve got to worry about potential industry regulations and the insane amount of capital flowing in to would-be disruptors. So, what can brokerages do to address the fundamental flaws in the traditional model—and survive the next five years?

 

Today, Rob and Greg are discussing the top issues traditional brokerages face and what they can do about it. They address the implications around Compass’ renewed focus on product and Wall Street analyst John Campbell’s comments regarding the tipping point Realogy and other traditional brokerages face.

 

Rob and Greg weigh in on the fact that brokerages LOSE money on top producers and the challenge of monetizing products and services for agents. Listen in for insight around the future of traditional models like that of Realogy and RE/MAX and learn how agents and brokerages might adapt to the disruptions facing the real estate industry.

 

What’s Discussed: 

 

The public interest argument for representing the buyer’s side

The implications around Compass’ renewed focus on product

John Campbell’s comments on the tipping point Realogy faces

The issues around productivity in a traditional brokerage model

Why brokers need to make money through products + services

How brokerage iBuyer initiatives are really listing lead programs

Why Upstream doesn’t address the problems brokers face now

The fundamental flaws in the traditional brokerage model

The future of Realogy, RE/MAX, Redfin, eXp and Home Services

What agents might do in a world with 60% iBuyer market share

 

Connect with Rob and Greg:

 

Rob’s Website

Greg’s Website

 

Resources:

 

Scratch That Podcast

Gradually … Then, Suddenly! Podcast

The Tom Ferry Podcast Experience

Nick Kremydas on Twitter

Glenn Kelman on Scratch That EP010

‘Is a Compass IPO Coming Soon?’ in Inman

John Campbell’s Comments in MarketWatch

Inman Connect

UpstreamRE

The DOJ’s Scrutiny of Cooperating Compensation on IR EP035

Rob’s Future of Brokerage Black Paper

 

 

Jun 10, 2019

Industry Relations has just been nominated by Inman News Innovator award under the INNOVATIVE VIDEO/PODCAST SHOW category!  Thanks for everyone’s support!

And now on with the show....

When Moehrl v. NAR was introduced in March, the industry response was largely… meh. Then in April, the Department of Justice reached out to the top MLS platform vendor, requiring documents and testimony about MLS data—with a specific focus on cooperating compensation. What is the DOJ likely to find? How might this information impact the class action suit? And what does it all mean for the real estate industry as a whole?

 

Today, Rob and Greg are discussing the Civil Investigative Demand (CID) CoreLogic recently received from the DOJ. They address the possibility of getting compensation data in the absence of a search feature on the MLS and predict whether the DOJ will find buyer-steering to be a widespread phenomenon. 

 

Rob offers his take on why a directive requiring the disclosure of sold information would be more likely than new regulations, and Greg speculates that the industry is unlikely to stand by while the government eliminates cooperating compensation. Listen in to understand how the plaintiff attorneys in Moehrl v. NAR might use the DOJ’s findings and learn why organized real estate needs to take the lawsuit seriously.

 

What’s Discussed: 

 

The Civil Investigative Demand CoreLogic received from the DOJ

Getting compensation data without a feature search on the MLS

What a DOJ study demonstrating buyer steering might achieve

Why disclosure of sold info is more likely than new regulations

How many brokers + agents script for the commission question

How DOJ findings might be used by attorneys in Moehrl v. NAR

How the Canadian Competition Bureau handled this issue

The potential impact of eliminating cooperating compensation

How it could take up to 10 years to resolve the class action case

 

Connect with Rob and Greg:

 

Rob’s Website 

Greg’s Website 

 

Resources:

 

Rob’s Post on CoreLogic & the DOJ

Rob’s 2015 Post on the NBER Study

Randy Ora’s Live Listing Presentation 

Rob’s Post on the Brookings Institute Panel

Competition Bureau of Canada Resolution

Inman Coast to Coast Facebook Group

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