Tune in to this must-listen episode of *Industry Relations* for an incisive breakdown of the NAR's landmark settlement, its ramifications, and the many lingering questions that promise to shape the discourse in real estate circles for years to come. Whether you're a real estate professional, an industry watcher, or just keen on understanding the forces shaping one of the economy's key sectors, this episode is for you.
In a pivotal episode of Industry Relations, hosts Rob Hahn and Greg Robertson dive deep into a recent seismic shift within the real estate horizon—The National Association of Realtors (NAR)'s $418 million settlement with the plaintiffs’ attorneys. A settlement like this is more than a headline; it's a precedent setter with far-reaching implications for every corner of the real estate world.
From referral networks and real estate portals to association-owned MLSs (and notably excluding non-association-owned MLSs), no stone is left unturned as Rob and Greg unpack the nuances of the settlement. With the DOJ's likely oversight and approval, the proposed settlement not only closes a chapter, but opens a discussion on the enforcement of regulations and the reinforcement of NAR membership. How will these changes ripple through the industry? What does this mean for unrepresented buyers in an increasingly opaque MLS landscape? And could this herald a new era of changes and MLS practices?
Beyond the settlement itself, this episode explores the broader implications for the real estate industry, including potential shifts in steering practices and the access to information on MLS platforms. As Rob and Greg navigate through these complex topics, they shed light on what the future may hold for realtors, MLSs, and the consumers they serve.
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What does the future hold for real estate commissions? On this episode of Industry Relations, Rob and Greg discuss the Clarity event and the legal updates regarding real estate commissions. They explore the concept of concessions and the issue of steering in the industry, the need for improved buyer agency agreements and buyer presentations and the defiance of industry professionals and the potential impact of government regulations on real estate commissions. Rob and Greg also cover various topics related to the real estate industry, including the myth of the Australian model, the reality of real estate commissions, the relationship between MLS and NAR, and provide potential solutions to the numerous challenges and complexities of these issues. Oh, and they also brainstorm the idea of creating an app for arranged marriages called 'Tinder for Parents.' You don’t want to miss this episode!
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Who bears the brunt of legal defense costs? What financial toll does this uncertainty cast on associations? On this episode of Industry Relations, Rob and Greg dive into the pressing issues faced by the National Association of Realtors (NAR) and its profound impact on local associations, MLSs and brokers. The insurance dilemma that has recently come to light, along with the unclear communication and lack of transparency from NAR is concerning to put it mildly.
And the conversation doesn't stop at insurance mishaps. Rob and Greg confront the broader issue plaguing the real estate industry - a competency crisis within NAR’s leadership. They share their personal frustrations and the collective agitation among realtors over how NAR has managed various crises, including a lawsuit with the Department of Justice and serious sexual harassment allegations.
The lack of skilled leadership, effective communication, and crisis navigation has not only fueled discontent but has also positioned the industry under a harsh spotlight, inviting negative media attention and dozens of copycat lawsuits. This episode is a call for leaders who can confidently steer the industry away from turmoil and towards a future led by transparency, competence, and integrity.
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What impact will the Department of Justice's stance on the MLS settlement have on the future of buying and selling houses? In this important episode of "Industry Relations," Rob and Greg talk about a big message from the Department of Justice (DOJ) about the MLS settlement. The DOJ seems to want the court to say no to the settlement. Selling agents might not make as much money as before, and buyers agents might need to show why they're worth their commission more than ever. It's time to start thinking about how we can prepare for change and innovate new approaches in serving buyers and seller.
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ultimate cost warrant the spotlight?
On this episode of Industry Relations, Rob and Greg discuss Homes.com's momentous marketing push running an ad during the most watched event in America – the Super Bowl. And its potential ripple effects on industry giants like Zillow.
Rob and Greg also revisit the real estate industry's current legal battles. The buzz around the Keller Williams settlement and with consolidation on the horizon, how will ongoing lawsuits reshape the future landscape for real estate professionals?
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How will the FCC’s new rules on lead aggregators affect real estate professionals? On this episode of Industry Relations, Rob and Greg talk to Matthew Marx of Evocalize about how to stay compliant while still effectively marketing themselves. One of the biggest changes is that lead aggregators will now be required to obtain consent from consumers before obtaining their personal information. So what do real estate professionals who use lead aggregators need to do? Tune in to find out!
Follow this link for Matt’s Evocalize FCC TCPA Advisor Chat Bot.
Connect with Matt on LinkedIn!
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Is the real estate industry ready for an alternative to NAR? On this episode of Industry Relations, Rob and Greg talk about the American Real Estate Association, also known as AREA, being positioned as a potential replacement for NAR. As it appears no crisis goes to waste, real estate agents across the country are bracing themselves for what could be the ultimate showdown. It’s the potential battle of the acronyms: NAR versus AREA, NLS versus PLS, and so many more. What lessons can we learn from NAR’s recent struggles, and what do these new organizations mean for the industry? Don’t miss this episode!
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How are the FCC rules on lead generation reshaping the insurance and real estate industries? In this episode, Rob and Greg break down the new FCC rules on lead generation and how they are impacting the insurance and real estate industries. Learn how these rules aim to prevent automated robo calls or texts without clear consumer disclosure. Rob and Greg explore the implications for industries like insurance and real estate, including lead resale and lead distribution platforms such as Zillow and Redfin. They also speculate on potential changes for Redfin, such as providing a list of partner agents when a consumer requests to see a house.
Tune in as Rob and Greg analyze how these changes are shaping the evolving landscape of the real estate industry.
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Is this industry saturated with REALTORS? Will the part-time real estate agent fall by the wayside? Join Rob and Greg as they discuss industry evolution, challenges in obtaining accurate statistics, and the impact of part-time agents. They reflect on historical decisions, and propose solutions such as restricting REALTOR membership and implementing apprenticeship programs. Listen now to gain insights and thought-provoking solutions for the real estate industry!
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What happens when a real estate giant like Zillow takes legal action against their own clients? Things get a little complicated as Rob and Greg explore the issues of the delicate balance of being a participant, vendor and MLS organization (sometimes all at the same time!)
***Disclaimer - Due to MLS Aligned being a consulting client of Greg, the views expressed on this podcast are Greg’s opinions and DO NOT represent the views of MLS Aligned.***
Rob and Greg discuss the recent Zillow lawsuit against two MLSs, ARMLS and Metro MLS, which alleges control over technology distribution and the practical implications of not being integrated into the MLS member portal and how it affects the functionality of platforms like ShowingTime. Greg gives his own first-hand experiences with MLS system integration and Cloud CMA. They explore what could be the potential impact on competition and the challenges faced by MLSs in making integration decisions.
And can MLS organizations choose who they do business with or not? Mountain? Molehill? Listen to Rob and Greg try and grapple a tricky situation as only they can.
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