HomeServices of America has reached a settlement in the slew of commission lawsuits. Now that a huge domino has fallen, what will happen next in the industry? Rob and Greg discuss  the next steps in the commission lawsuits and the potential challenges faced by copycat lawsuits. They also discuss the role of lawyers and the potential opt-out strategy for larger builders. And how fair are these settlements and will it potentially impact recruiting and retention efforts?

They discuss other major players like Compass, Keller Williams, and EXP, bringing to light the dynamic changes in the landscape, the controversy surrounding CoStar and Realtor.com, the future of Redfin, and discuss the upcoming NAR mid-year meetings. 

This episode is packed with industry insights. 

You are gonna want to watch this on our YouTube Channel!

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

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Notorious VIP

This podcast is produced by Two Brothers Creative 2024.

What is the difference between the threat of steering in an illegitimate way and being transparent and informing your client? In this episode, Rob and Greg discuss the difference between steering and fiduciary duty in real estate and other various topics including Greg’s recent trip to Boston, Redfin’s settlement with NAR, the enforcement of buyer showing agreements, and the potential actions of the DOJ. They also touch on the proposal for making housing affordable and the MLS execs walking out of a meeting. Highlighting the challenges and implications of these issues for the real estate industry. 

The need for clear communication and the careful choice of words to avoid crossing ethical boundaries. Rob and Greg suggest that training, scripts, and forms could help agents navigate this fine line.

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Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

Notorious VIP

This podcast is produced by Two Brothers Creative 2024.

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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Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

CoreLogic

Notorious VIP

The Giant Steps Job Board

This podcast is produced by Sunbound Studios

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.

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

CoreLogic

Notorious VIP

The Giant Steps Job Board

This podcast is produced by Sunbound Studios

this thought-provoking discussion, Rob and Greg dive into the challenges and potential solutions for agents and brokers. Learn about the ethical considerations involved in disclosing commissions to clients and renegotiating buyer agency agreements. 

Plus, gain insights into the role of MLS in regulating concessions and why further education is crucial. Don’t miss out on this must-watch conversation that seeks to shed light on a controversial topic. 

Share your thoughts and join the conversation by leaving a comment! And let us know if you would like to see future episodes in a live stream format. #MLSpolicy #commissiondisclosures #concessions #ethicsinrealestate #education #livestream

Watch us on YouTube!

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

Our Sponsors: 

CoreLogic