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Episode Summary:
In this episode, Rob and Greg tackle the latest developments in the housing market and its broader implications for real estate professionals. From dissecting the DOJ’s recent moves to exploring how transactions and home prices define market strength, the duo brings sharp insights and engaging commentary to these critical topics.
Discussion Highlights:
• DOJ’s Statement of Interest: What it means for buyer agreements and competition in the real estate market.
• Market Metrics Debate: Rob questions whether housing market health should be based on transactions and sales volume rather than just home prices.
• Affordability and Transactions: The ongoing challenges of affordability and declining transaction volumes in shaping the housing landscape.
• Broker Challenges: Navigating regulatory uncertainties and adapting to evolving DOJ scrutiny.
• Future Predictions: Speculating on the DOJ’s next steps and potential impacts on real estate practices.
Key Takeaways:
• The DOJ aims to promote competition, with specific attention on transparency and buyer agreements.
• Home prices and transaction volumes tell different stories about market strength.
• Brokers and agents face significant uncertainty as they adapt to legal and market changes.
• The need for consumer awareness and transparency remains central to the evolving real estate industry.
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Episode Summary:
In this timely episode In this timely episode (recorded Monday, November 25), Rob and Greg dive deep into the DOJ’s recent statement of interest in the Burnett settlement. They break down the key points raised, including the potential antitrust concerns surrounding the requirement for buyers to sign agreements before home tours and the broader implications for real estate brokers and agents.
The discussion highlights:
• The DOJ’s clarification that compliance with the NAR settlement does not shield brokers or agents from future antitrust actions.
• Concerns about how the buyer agreement provision could stifle competition and negatively impact consumers.
• Speculation on the DOJ’s broader strategy and its potential impact on real estate practices, including commissions and agent-broker dynamics.
• The challenges brokers face in navigating conflicting legal and regulatory signals.
Key Takeaways:
• Brokers and agents must carefully navigate the evolving legal landscape, balancing compliance with the settlement and potential DOJ actions.
• The DOJ’s intervention signals its readiness to continue scrutinizing real estate practices, including beyond the terms of the settlement.
• Transparency and adaptability will be critical for real estate professionals moving forward.
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Vendor Alley: DOJ files eleventh hour statement of interest in Sitzer/Burnett Case
Rob’s Substack: A Look at the DOJ's Statement re: NAR Settlement
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In this episode of Industry Relations, Rob and Greg dive into the latest developments in the real estate world, focusing on leadership, membership dynamics, and the challenges facing NAR in 2024. They engage in a spirited debate about leadership priorities, assessing Nykia Wright’s tenure as CEO, and what it takes to steer an organization during turbulent times.
Key Takeaways
• Leadership Dynamics: A breakdown of the responsibilities and criticisms of Nykia Wright’s first year as CEO of NAR.
• Membership Retention: Insights into how NAR has managed to retain members despite controversies and lawsuits.
• Strategic Decisions: Examining the impact of the $2 billion broker club’s fallout and the decisions leading up to it.
• Action vs. Inaction: Rob and Greg debate what constitutes effective leadership and the significance of visible actions vs. behind-the-scenes work.
• Surveys & Communication: The role of member surveys and communication in understanding and addressing organizational challenges.
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Greg just landed back home from NAR Boston and Rob is curious to what insights he learned. Greg’s main insight is that he isn’t as young as he once was.
1. Election Impact on Real Estate:
• Rob and Greg delve into the recent election results, exploring how potential changes in government could impact HUD and real estate policies.
• Debate on the future leadership of HUD and the potential impacts on the industry.
2. National Association of Realtors (NAR) Conference Recap:
• Greg shares insights from the recent NAR conference, touching on the atmosphere post-election and key sessions he attended.
• Discussion about attendee sentiment, especially regarding political and economic concerns within the real estate industry.
3. MLS (Multiple Listing Service) & CCP Discussions:
• The episode dives deep into the complexities of MLS structures, with Greg suggesting a “domino effect” that could lead to significant industry shifts if CCP (Clear Cooperation Policy) and co-mingling rules were altered.
• Speculations on Zillow’s role in the MLS space, its motivations, and how upcoming changes might benefit or challenge existing MLS structures.
4. NAR’s Controversial Communication:
• The hosts criticize NAR’s handling of sensitive topics, including CCP discussions, arguing for more transparency and authenticity in its public communications.
5. MLS Independence and Potential Changes:
• Rob and Greg discuss the possibility and challenges of MLS organizations operating independently of NAR.
• Debate around whether separating from NAR could lead to more effective and regionally responsive MLS services.
6. Event Announcements:
• Promotion of the upcoming “MLS Reset Conference” in Arizona (January 2025), organized by Greg and colleagues, aimed at exploring the future of MLS and real estate industry evolution and the Clariety25 Conference in February.
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Operating Cash Flow for REA Group (Australia) from Mike Deplete
How much does U.S. Department of Housing and Urban Development in the United States pay?
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Episode Overview
Rob and Greg explore how the upcoming election could reshape the real estate industry, focusing on regulatory impacts, DOJ actions, and antitrust issues. They also discuss potential changes to industry practices and transparency in agent behavior.
Key Topics
1. Election Predictions:
• Friendly wager on election outcomes, with predictions on how results could shift real estate policies, especially through DOJ and FTC actions.
2. Antitrust Settlement and NAR Challenges:
• Tanya Monestier’s objections to the recent antitrust settlement, highlighting concerns over consumer confusion and potential loopholes that could benefit attorneys over consumers.
3. Future of Industry Regulation:
• Speculation on how political shifts might influence NAR’s regulatory environment and broker responsibilities.
• The potential for new, transparent compensation practices led by industry figures like James Dwiggins.
4. Ethics and Agent Behavior:
• Debate over real estate agent intentions, balancing consumer interests with profit motives, and the industry’s response to Monestier’s critiques.
Key Takeaways
• Election’s Influence on Real Estate: Election outcomes may bring regulatory changes, with possible implications for NAR and antitrust enforcement.
• Transparency and Trust in Agent Practices: Increased focus on clear buyer agreements and ethical practices to protect consumer trust.
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Overview:
Rob and Greg talk with Jack Miller, CEO of T360, about the recently released “Opportunity Report” and its significance for the real estate industry. The discussion focuses on how real estate leaders can navigate current challenges and seize opportunities in the face of regulatory changes, declining transaction volume, and industry consolidation.
Key Topics:
1. The Opportunity Report:
• A newly released report from T360, available for free at theopportunityreport.com.
• Provides a 100-page analysis of risks and opportunities in the real estate industry.
• Includes insights from over 50 industry leaders on how to approach challenges in the current market.
2. The Role of the MLS:
• Jack emphasizes the importance of the MLS as a marketing and data platform, even without mandatory compensation rules.
• MLS consolidation is expected, with strong MLSs providing more value to their users.
3. Legal and Regulatory Pressures:
• The real estate industry is under scrutiny from the DOJ and faces multiple lawsuits.
• These challenges present an opportunity for brokerages and MLSs to innovate and improve transparency.
4. Future of Associations:
• Jack discusses the potential for separating MLS and Realtor associations and restructuring governance.
• Associations need to adapt and provide more value beyond just MLS access to remain relevant.
5. Opportunities in a Challenging Market:
• Jack urges leaders to lean into change and view the current market as a chance to innovate and grow.
• The report highlights that companies that embrace change during tough times can emerge stronger.
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Reach Out:
Jack Miller on LinkedIN
Download the Opportunity Report at theopportunityreport.com.
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In the latest episode of Industry Relations, Rob and Greg venture into a thought-provoking discussion about disaster preparedness and self-reliance. While they typically focus on real estate, this episode broadens the scope, offering practical insights on how to be ready for unexpected emergencies like natural disasters or social unrest.
Rob, who has fully embraced the prepper lifestyle, breaks down the importance of planning for short-term disasters, emphasizing the need for essential supplies like water, food, and basic medical skills. Rather than “bugging out” or fleeing, he encourages listeners to “bug in” — stay at home and rely on their community to survive. He also highlights the critical role of knowing your neighbors, as they can become your greatest resource in a crisis.
This episode offers valuable advice on building self-sufficiency, from securing food and water to handling emergency situations and even touches on the significance of physical fitness during a crisis. Greg engages Rob with questions that bring out relatable and practical tips for urban and suburban listeners alike.
Whether you’re curious about survival strategies or just want to hear some down-to-earth insights on real-world preparedness, this episode is packed with useful takeaways.
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LifeStraw - Personal Water Filter for Hiking
Children and teens are more liking to die from guns than anything else.
Israeli Battle Dressing Compression Bandage
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It seems everyone in the industry is still obsessed with CCP. Rob and Greg are no different. The show starts off with Rob giving Greg some advice on his upcoming client meetings, but quickly shifts to the recent back and forth about CCP. Greg thinks that industry players like Compass CEO Robert Reffkin to stop spreading misinformation about MLS. Rob says there is blame on both sides. Things get interesting from there.
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Many people don't know or understand NAR's PDAP. PDAP stands for Participant Data Access Policy. And PDAP is at the heart of today's episode.
Rob and Greg dive deep into the topic of who actually owns MLS data. The answer, as it turns out, really depends on who you ask. But we’re living in a new world where private MLS ownership is becoming a reality, and also what are those second order consquences? Greg also catches up with Rob about Rob's meetings with brokers and their opinions on MLS data ownership—spoiler alert: they think they do. It’s a thought-provoking discussion that may raise more questions than answers.
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Section 18. Right of Participant to MLS Data Feed of Listing Content (Policy Statement
Rob's latest Substack : Why the Data Ownership Thing Worries Me
South Park Human Centipede Episode
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After missing a recording last week (due to travel schedules) the boys are back with another jammed pack episode of Industry Relations. In this week’s episode Rob and Greg discuss recent Blueprint conference in Las Vegas, CMLS 2024 in Seattle and REColorado new subscriber agreement. And they sprinkle a little CCP talking points just for good measure.
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Pictures of Greg’s sister, Pilar, winning her own award
Pictures of Greg presenting at CMLS 2024
HousingWire post on REColorado acquisition
Greg’s take on Rob Reffkin’s CMLS 2024 interview
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On this episode of Industry Relations Rob and Greg discuss, for what seems to be the 17th time, the current rumors about the Clear Cooperation Policy. Rob recently posted a few thoughts on the subject and a few solutions to what seems to have the entire industry tied up in knots. What they soon realize, there are no easy answers.
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Rob and Greg are back to their regularly scheduled broadcast! The episode includes discussion on Landian, the new “a la carte” brokerage launched by Josh Sitzer, yes, that Sitzer. Rob discusses his recent Sub Stack post on “Amara’s Law and Real Estate” and how we shouldn’t read too much in to how things are going with the NAR settlement. The boys also discuss online dating, new business models, capitalism and agent count. But somehow they bring it all together.
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Greg joins Rob from Chicago where he was attending NAR's iOi Summit. Greg gives his experience of being at the iOi Summit and discusses the pitch battle and his favorite new app, Tuesday, and its founder Cole Boyer who won "Crowd Favorite".
They go on to discuss NAR's decision to appoint Nykia Wright as their new CEO and if experience in organized real estate or connections in Washington D.C. really matter. As you can imgaine Greg and Rob have different opinions.
They finish with discussing the ongoing rumors of the fate of Clear Cooperation Policy (CCP), a.k.a. "The Ocho". It's a fun one!
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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 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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It’s the time of year to reflect, predict, and make hopeless new year’s resolutions! On this episode of Industry Relations, Rob and Greg look back on 2023 and how much the real estate industry has changed over the span of just one year. From mergers and acquisitions to lawsuits and settlements, Rob and Greg reflect on the tumultuous year that was 2023! We also hear predictions for what’s to come in the new year. Let's go!
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Should NAR be reformed? What is the role of REALTORS in the lawsuit, and the value of membership in NAR? Join Rob and Greg as they answer these questions and the potential rebirth of the REALTOR movement, the importance of authenticity in communication, and the value of REALTORS sharing their authentic stories to connect with consumers. Plus Rob and Greg throw in their own doom and gloom predictions just to shake things up. Stay up-to-date with the real estate industry with this brand new episode of Industry Relations!
Click here for Greg’s latest blog post!
Click here for Brian’s LinkedIn post mentioned in the show!
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How can we make housing affordable for everyone? Rob and Greg explore how we can make housing more accessible and affordable for all. From creative solutions to policy changes, watch as we unpack the different strategies available to make housing affordability a reality. Tune in now to learn how you can help create a future where housing is within reach!
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Is Zillow turning into the Craigslist of real estate? Just how accurate is the data on MLS websites, and should consumers be given a guarantee of accuracy? From predicting a possible depression to come in 2023 to debating the irrationality of lightsabers, this episode of Industry Relations covers the need-to-know issues in today’s real estate industry. Let’s go!
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Is there anything Rob and Greg can’t banter about? Turns out, not really! In this special episode of Industry Relations, our two real estate gurus take a break from debating MLS, Zillow, and the housing market, and turn their attention to something far more important (or, at least more fun): the greatest movies of all time! And as one could presume, the debate gets quite heated.
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So, the partnership between two real estate juggernauts has come crashing down. What happens next? CoStar and BPP have agreed to not pursue a partnership that would have helped create a national listing site to compete against third-party portals like Zillow; however, dreams can often turn to nightmares, and reality can often be worse than both. As Greg is on the road, this episode features some quick commentary from Rob on the partnership gone awry and what consequences lie ahead.
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Big news! Adam Neumann is back and lands a huge $350 million deal with Andreessen Horowitz. Is this the beginning of the disruption Rob and Greg have been talking about? When companies are laying people off what is the impact of this deal?
Rob and Greg explore these questions and what the big vision is for Adam Neumann’s company, Flow. We revisit last episode’s Opendoor and Zillow conversation and why Greg believes Rob is still wrong about it all.
Also, Rob dug up 10 years of REALTOR numbers and scale of success for the real estate industry will surprise you!
It’s a jam packed episode you can not miss!
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