Podcasts about sitzer burnett

Send us a textSouth Carolina REALTORs Association has issued new compensation forms with not one but two Form 120s and updated agency agreements in Form 130, 135 and 136. Today I examine those changes and what they mean for you.  Also, a new study by the Federal Reserve shines light on whether or not commissions have gone up or down since implementation of the Sitzer settlement.Don't forget to like us and share us!Gary* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

Send us a textIn this episode of Dishin' Dirt, I answer the question as to whether or not you can still accept a seller bonus following the Sitzer/Burnett settlement. I will provide insight on the legality and realities of bonuses in real estate transactions, emphasizing the importance of written agreements and the business justification rule for any amendments to compensation agreements. Don't forget to like us and share us!Gary* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

Send us a textIn this episode of Dishin' Dirt, I discuss two issues. First, one of the lawyers from Sitzer/Burnette has stated publicly that he is coming for your JV agreements and any brokerage that encourages or compensation agents or brokers for pushing their ancillary products such as mortgage, title and insurance.  It is past time to take heed of this significant risk.Secondly, I examine the emergence of the American Real Estate Association (AREA) following the Sitzer/Burnett case. I evaluate the potential impact of AREA on the National Association of Realtors (NAR), emphasizing that while AREA may cause some challenges for NAR, it is not a direct threat. I also addresses the ongoing issues surrounding broker-to-broker compensation and the need for higher standards in real estate education and accountability. He concludes by advocating for a cooperative relationship between AREA and NAR, provided that both organizations prioritize the interests of real estate agents and consumers.Don't forget to like us and share us!Gary* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

Realtor confidence and homebuying trends are shifting as the real estate market undergoes major changes. With low inventory, rising home prices, and industry-shaking events like the Sitzer/Burnett vs. NAR lawsuit, buyers, sellers, and agents are adapting to a new landscape. So, what does this mean for Realtors, homebuyers, and investors? In this episode of The Real Wealth Show, Kathy Fettke sits down with Jessica Lautz, Deputy Chief Economist & VP of Research at the National Association of Realtors (NAR), to break down the latest housing market trends. We'll cover: Realtor Confidence – How are agents feeling about the market? Spring 2025 Housing Outlook – Will we see more buyers and sellers? Who's Buying Homes? – First-time buyers, cash buyers & investor trends Seller Behavior – Who's selling, and what are they looking for in an agent? The Impact of the NAR Ruling – Are buyers & sellers still using agents? Market Predictions – What's next for real estate in 2025? Whether you're a homebuyer, real estate investor, or agent, this episode is packed with valuable insights and expert analysis to help you navigate the evolving market. LINKS: OUR GUEST Jessica Lautz:  LinkedIn: https://www.linkedin.com/in/jessica-lautz/ Instagram: https://www.instagram.com/jessica.lautz/ Website: https://www.nar.realtor JOIN RealWealth® FOR FREE  https://tinyurl.com/joinrws1038 FOLLOW OUR PODCASTS The Real Wealth Show: Real Estate Investing Podcast https://tinyurl.com/RWSsubscribe Real Estate News: Real Estate Investing Podcast: https://tinyurl.com/RENsubscribe READ BOOKS BY RealWealth® FOUNDERS The Wise Investor by Rich Fettke: https://tinyurl.com/thewiseinvestorbook Retire Rich with Rentals by Kathy Fettke: https://tinyurl.com/retirerichwithrentals Scaling Smart by Rich & Kathy Fettke: https://tinyurl.com/scalingsmart DISCLAIMER The views and opinions expressed in this podcast are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action. For more information, go to www.RealWealthShow.com

Sitzer/Burnett was not the end of the legal threats to the real estate profession.  In 2025 real estate licensees will face other threats that could derail and upend the industry and the way you practice. Today I examine what former Dishin' Dirt guests, Darryl Davis and Carl Medford, think are the biggest issues legal issue and threats that real estate agents are facing.Don't forget to like us and share us!Gary* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.    

This week, we're breaking down the latest headlines shaping the housing market. Compass is making waves with its acquisition of @properties Christie's International Real Estate, signaling a bold expansion strategy. Meanwhile, a judge has approved the NAR settlement in the Sitzer/Burnett case, a decision that could reshape commission practices across the industry. Despite high mortgage rates, early-stage homebuying demand has surged to its highest level in 15 months, with contract signings and pending home sales jumping thanks to a post-election boost in home tours. Mortgage rates dipped to their lowest level in over a month, spurring a 6% increase in homebuyer mortgage demand—is the market finding its momentum? We'll also discuss how investor home purchases are leveling off after the pandemic's wild market ride, and dive into the story of a tiny home with a garage selling out on Amazon after Black Friday buzz, highlighting the growing interest in alternative housing solutions. Join us today at 10 PST / 1 EST as we break down these key trends and their implications for buyers, sellers, and agents. Subscribe, hit the bell for notifications, and join the live conversation on Clubhouse!

On today's episode, Editor in Chief Sarah Wheeler talks with Anthony Lamacchia, founder and CEO of Lamacchia Companies and Lamacchia Realty, about the state of the housing market one year after the Sitzer/Burnett verdict, the industry's “addiction to mortgage rates” and the election. Related to this episode: Commission Lawsuits | HousingWire HousingWire | YouTube More info about HousingWire   Enjoy the episode! The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team. Learn more about your ad choices. Visit megaphone.fm/adchoices

Financing concessions and USPAP!  More on this?  Haven't we heard enough on concessions, cash equivalency, and stuff they don't teach us in appraisal school?!  If you listen to what Fannie and Freddie have to say on these topics, the answer would have to be an emphatic "NO!".  Why?  Because Fannie and Freddie continue to tell us we are not making the necessary adjustment when we need to.  If we can't believe Fannie and Freddie, who can we believe, right? Financing concessions and USPAP are real issues!  When it comes to making adjustments, any adjustments for that matter, education is the key.  We may not make the necessary adjustments because we don't know we are supposed to make them.  Or maybe we don't know how to make them.  Well, education solves those problems.  And this education is easy-to-access, as well as easy-to-afford.  So, what's stopping you from getting the education you need?! As you know, NAR settled the Sitzer-Burnett case.  And this case, in part, dealt with financing concessions.  Now, is the party who pays the buyer's broker's brokerage commission granting a sales or financing concession?  Or, is that party merely negotiating the best purchase and sale deal they can?  How you, the appraiser, choose to answer those questions is important.  One answer will require a sales financing adjustment.  One answer will not.  But there is no one-size-fits-all response.  So it will be necessary to do the analytics on this question for each and every assignment.  Critical thinking is a hallmark of a real estate appraiser.  So, think critically about your answers to the financing concessions question.  Your answers will affect how you make a living. And don't forget to make sure your E&O insurance is up-to-date.  If you answer the above critical thinking question properly, you won't need legal counsel to get you out of a jam!  

The most impactful changes in the real estate industry has just taken place. Heather Oloboni and Joe Brown discuss the Sitzer/Burnett class-action lawsuit and its sweeping implications. Learn about how the Missouri Supreme Court's decision affects buyer representation, seller disclosures, and the way real estate agents get compensated. This episode offers a breakdown of the lawsuit, how it changes buyer-seller relationships, and what it means for agents and clients moving forward. Whether you're a buyer, seller, or real estate agent, understanding these new rules is crucial. Timestamps: 00:00 - Introduction: Major Industry Changes 01:05 - Sitzer/Burnett Class Action Lawsuit Overview 02:15 - The End of Cooperative Compensation in Real Estate 03:40 - How Buyer and Seller Representation is Changing 05:20 - What Buyers Need to Know: The Buyer Broker Agreement 06:35 - Impact on Agents: New Rules and Negotiation Skills 08:10 - Open Houses: What Buyers Should Be Aware Of 10:00 - Agency: Seller, Buyer, and Limited Dual Agency Explained 12:00 - Why Asking Questions is Critical for Buyers and Sellers 15:30 - How Agents Should Prepare for the Changes 18:15 - What This Means for the Future of Real Estate Have questions about this podcast, topics, real estate or getting your real estate license? Reach out to us! podcast@thetjkteam.com   Be sure to check out our website for more resources ⬇️ https://TheTJKTeam.com   Keller Williams Southern Arizona 7400 N Oracle Rd #331 Oro Valley, AZ 85704

One year ago, Jason Haber organized a petition seeking the resignation of the National Association of Realtors (NAR) President Kenny Parcell. Within days, the executive was gone, and Haber's life had changed forever.The petition's momentum, albeit rapid and fierce, can not compare to the tectonic shifts already in motion in the real estate industry. For years, multiple clusters of fanged lawsuits have worked their way through the justice system.  Sitzer-Burnett vs NAR The NAR and co-defendants lost a major battle and faced a monster penalty that stoked the fear of bankruptcy with a dagger looming close to their not-so-not-for-profit hearts.The recent implementation of a DOJ and court-guided settlement (proposed) of the Sitzer-Burnett (and related) cases has changed and upended the staid and foggy practices of running a real estate business, ushering in a new era promising transparency and accountability.If the Department of Justice stays quiet (unlikely) and the Court approves the recently implemented practice changes and settlement of the Sitzer-Burnett cases, the real estate industry may be on track to compete and operate ethically in the modern era.These practice changes will undoubtedly require numerous iterations to perfect and reshape tired traditions embedded in U.S. real estate businesses. Whether or not the legacy trade association and old-line business models can adjust is to be determined.American Real Estate AssociationJason Haber and Mauricio Umansky, CEO/Founder of the Agency, announced in January the formation of a new trade organization, the American Real Estate Association, which is billed as "built by agents, for agents."The American Real Estate Association has the potential to become a significant alternative to the NAR. With a focus on modern tools and methods, it aims to avoid the bloat and rust of its elder industry mate.Jason Haber Is Not Afraid During this discussion, Haber was direct, clear, and personable, holding nothing back while describing the failings of real estate agents, brokers, brokerages and the national trade organization.His commitment to improvement, good trouble, and forward momentum inspires confidence and a desire to get involved.The winds of generational change apply not only to politics but also to the business of residential real estate.Author's NoteHaber declined to comment when asked if the plaid shirt worn during this interview is a nod to the current election cycle and the Vice-Presidential candidate.American Real Estate Association | NYTimesHaber Rattling - Agent Comes For The NAR | The Real DealEt Tu, Agent? Commission-Based Steering in Residential Real EstatePublications and Podcasts by Tom LevineReal Estate Consultant vs Real Estate AgentWill The Realtor Settlement Be ApprovedThe Strategic Impact of the Sitzer-Burnett Settlement on Real Estate PracticesReal Estate Tokenization - Part 1Stock Market Highs and Real Estate RiskAbout The Author And Podcast HostTom Levine, leveraging a 25-year tenure in capital markets, leads Zero Hour Group and Native Angelino Real Estate, offering a suite of consulting, strategic analysis, and real estate services.An alumnus of USC Marshall School of Business and the Claremont Colleges - Pitzer College campus with a term at the London School of Economics. Additionally, he holds a CADRE broker's license and the designation certified Short Sale Specialist under the National Association of Realtors. CA DRE #02052698Schedule A Free ConsultationI consult on a range of transaction types and deal structures, I would be pleased to have a discussion. Schedule a call here.Tom Levine, Real Estate Broker and ConsultantHave a challenging transaction? Let's discuss.  This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.1929.live

Kristen Conti Reveals the Inside Scoop on the NAR Lawsuit and How It Will Impact Real EstateIn this episode, Dr. Tamara “Tami” Patzer talks with Kristen Conti, a seasoned real estate broker and owner of Peacock Premier Properties in Englewood, Florida. Kristen has over 31 years of experience navigating the ever-evolving real estate landscape, and she's here to provide essential insights on the recent National Association of Realtors (NAR) settlement and how it will reshape the industry.Kristen's wealth of knowledge and deep understanding of the market make her uniquely qualified to guide us through these significant changes. As a broker-owner, she has witnessed the industry adapt to countless shifts, but the recent developments surrounding the NAR lawsuit and the new regulations that took effect on August 17, 2024, are among the most profound the industry has seen in decades.During the interview, Kristen addresses some of the most pressing questions and common myths related to these changes. She delves into the details of the Sitzer/Burnett lawsuit, which led to the $418 million settlement, and discusses the far-reaching ramifications for real estate professionals, buyers, and sellers alike.From the new buyer agency agreements to the removal of commission information from the Multiple Listing Service (MLS), Kristen provides a comprehensive overview of what to expect in this new era of real estate.Whether you're a real estate professional concerned about the impact on your business or a buyer or seller navigating the evolving landscape, this episode offers the expert guidance you need to approach the future with confidence. Kristen's insights into the importance of value articulation, the role of the buyer's agent, and the potential for a 20% attrition in the industry provide a fascinating glimpse into the industry's future.Listeners who are interested in understanding the real estate market, the implications of the NAR settlement, and strategies for success in this new era will find this episode invaluable.Kristen's passion for the industry, her commitment to her community, and her ability to translate complex topics into actionable insights make her a must-listen for anyone invested in the future of real estate.To learn more about Kristen Conti and her expertise, visit her website at KristenConti.com or connect with her on social media. You can also reach out to her directly at the Peacock Premier Properties office by calling 941-286-8486 or emailing Kristen@KristenConti.comSource: https://businessinnovatorsradio.com/kristen-conti-decoding-the-nar-settlement-and-its-implications-for-real-estate-buyers-and-sellers-nationwide

Join us for a compelling episode of "Escaping the Drift," where we sit down with the phenomenal Krista Mashore, a top 1% nationwide real estate agent turned full-time coach. Krista shares her remarkable journey from a successful career in real estate to becoming a highly sought-after coach. We explore her strategic use of ClickFunnels to drive success and the importance of staying active in the real estate market to maintain relevance and provide the best coaching to her students. This conversation is packed with valuable insights for anyone in the real estate industry, highlighting the need for continuous learning and adaptation.We also tackle the complexities and challenges of the real estate industry, discussing the undervaluation of real estate agents and the recent Sitzer Burnett lawsuit that led to significant changes in business practices. Krista and I exchange stories about the practical experiences that shaped our careers, television shows like "Millionaire Listing" impact on public perception, and the new regulations affecting commission disclosures. This episode is a treasure trove of strategies and tips for agents looking to navigate the ever-changing real estate landscape.Finally, we cover innovative marketing strategies, the importance of brand awareness, and the role of masterminds in personal growth. Krista shares her experience with platforms like Go High Level and her efforts to re-establish her luxury real estate business within 90 days. We also touch on the significance of ethical practices in commission negotiations and the value of creating engaging, educational content for clients. Take advantage of this episode if you're looking to elevate your real estate game and learn from one of the best in the business.Highlights:(01:42 - 03:25) Real Estate Coach's Experience and Transition(09:53 - 10:34) Coaching and Education in Marketing(16:21 - 17:20) Real Estate Agent Misconceptions(18:56 - 19:25) Real Estate Company and the Purge(24:36 - 25:37) Issues With Discount Broker Commission Percentages(32:41 - 33:29) Explaining High-End Commissions With Video Books(51:34 - 52:24) Effective Local Real Estate Marketing Strategy(55:21 - 56:10) Becoming a Million Dollar Listing Agent(57:57 - 58:44) Content Marketing for Real Estate Success(01:02:17 - 01:03:03) Investing in Masterminds for SuccessCHAPTERS (00:00) Escape the Drift With Krista Marshore(04:19) Real Estate Coaching and Success Secrets(11:52) Real Estate Industry Challenges and Solutions(21:26) Real Estate Changes and Challenges(26:47) Buyer Broker Agreements and Zillow Controversy(30:49) Luxury Real Estate Business Expansion(39:10) Real Estate Commission Negotiation Tactics(43:51) Real Estate Marketing Strategies and Value(52:24) Local Brand Awareness With Go High Level(01:00:27) Mastermind Investment in Self-Growth(01:06:26) Digital Marketing and Entrepreneurial Insights(01:12:45) Join Escaping the Drift Community

In the wake of the Sitzer-Burnett settlement, the National Association of REALTORS® and the real estate industry face imminent changes. NAR President Kevin Sears sits down with Bobbi and Alex on Zoom for a transparent conversation on the state of the industry. Bobbi's Book Bit: Never Finished by David Goggins (Jump to interview at 10:50)

Worried about how you're going to earn your buyer commission after the Sitzer-Burnett lawsuit ruling? You definitely aren't alone. But Patricia Long, broker and co-owner of Keller Williams Preferred Properties, is here to talk us through it.On one level, nothing has really changed. You should have already been requesting your client sign a buyers' agreement that says they will pay you if the seller does not. You should have already been showcasing your value and going above-and-beyond for your clients.On another level, this could be devastating for first-time home buyers who can barely afford the down payment, but can't afford to pay the buyer commission out of pocket. These buyers are often black. They will likely either be left behind, taken advantage of, or not catered to.So what can we do? Tune in to hear Patricia's advice on engaging politically, fine-tuning your value proposition, and doubling down on relationship-building.Resources:Learn more at The Color of MoneyRead Millionaire Real Estate Agent Sign up for the free class on how to understand and demonstrate your value by the National Association of Real Estate Brokers.Become a real estate agent HEREConnect with Our HostsEmerick Peace:Instagram: @theemerickpeaceFacebook: facebook.com/emerickpeaceDaniel Dixon:Instagram: @dixonsolditFacebook: facebook.com/realdanieldixonLinkedIn: linkedin.com/in/dixonsolditYouTube: @dixongroupcompaniesJulia Lashay:Instagram: @iamjulialashayFacebook: facebook.com/growwithjuliaLinkedIn: linkedin.com/in/julialashay/YouTube: @JuliaLashayBo MenkitiInstagram: @themenkitigroupFacebook: facebook.com/obiora.menkitiLinkedIn: linkedin.com/in/bomenkiti/Produced by NOVA MediaThis podcast is for general informational purposes only. The guest's views, thoughts, and opinions represent those of the guest and not KWRI and its affiliates and should not be construed as financial, economic, legal, tax, or other advice. This podcast is provided without any warranty, or guarantee of its accuracy, completeness, timeliness, or results from using the information.

WOW!  "USPAP, Sasquatch, NAR, and Comparable Sales" is one helluva name for a podcast!  That's true, thank  you.  But given that the ramifications of the Sitzer-Burnett are obvious but still unknown, invoked Sasquatch.  And the fact cash equivalency adjustments to comparable sales may become more prevalent than in times past brought all of those concepts together into one big, yet unanswered question.  And that's the real conundrum.  We don't know yet what is going to happen. Not only that, but in "USPAP, Sasquatch, NAR, Comparable Sales" I ask a truckload of questions, but provide only a teaspoon of answers.  Why?  Because it is possible (not certain, merely possible) that with all of the class action suits still pending against NAR relative to price fixing, then NAR is going to be in financial hot water despite its 1.5-million members. Since this podcast is one for appraisers, not (buyer's) brokers, we appraisers need to be aware of how Sitzer-Burnett will affect us.  And, like Sasquatch, we know the affect is there, but we just can't yet prove what those affects are.  How will this decision affect us?  If NAR's structure changes, will the big brokers have their own in-house MLS systems?  If so, will they be compatible across platforms?  How many will appraisers have to join to have proper amounts of data?  Appraisers depend on brokers for data.  Will there be fewer brokers in the future?  Fewer deals?  If the buyer pays their broker how, if at all, does that impact the sales price from a cash equivalency standpoint?  Why?  So may questions still, yet so few answers! So, sit back, listen, think critically, and enjoy!  And click the link above to the Sasquatch film.  Something is there, we just don't know what it is yet.

HomeServices of America, the last remaining brokerage defendant in the landmark Sitzer/Burnett antitrust commission case, has agreed to pay $250 million in damages to settle lawsuits. Meanwhile, The Fed's big question: Are high-interest rates doing their job? And finally, it appears that the spring housing market gets more inventory

Today, episode 309, for a 2nd round, I'm talking to Stacie Chadwick in Denver, Colorado, with  LIV Sotheby's International Realty. On her first interview on the show, episode  253, How to Launch from 0 to 65 million, Stacie and I talked about how she went from home maker to top deal maker and her challenges and epiphanies on  her path to success. In this episode, Stacie and I talk about how just last year (2023), she not only sold almost 100 million in volume, 94 million to be exact, she adds, she did it with the most balance and peace and flow she has achieved in her personal and business life. She shares how she did it as we talk about How to Create Ongoing Clients and Growth and Balance in Luxury Real Estate.⚡️Powered by BreakthroughLuxury Coaching & Membership https://BreakthroughLuxury.com 

On March 15th, the National Association of Realtors (NAR) agreed to settle the Sitzer/Burnett case. The changes to the real estate industry are set to take effect in July 2024. I discuss what it means not just for the real estate industry but what it could also mean for the real estate market going forward.

      On today's episode, the ladies discuss the Sitzer-Burnett case and how it affects the Real Estate Industry in South Carolina and the US.  Stacy and Erin break it down in terms of their personal experience and share how they are advising their agents in the light of this red hot topic.    

In this pivotal episode of the Kern County Real Estate Review, we dive deep into the recent lawsuit against the National Association of Realtors (NAR) and its groundbreaking settlement. Join us as we unravel the complexities of the Sitzer-Burnett v. NAR case and its significant impact on home buyers, sellers, and the real estate industry at large. Featuring insights from industry expert, and Broker of Coldwell Banker Preferred, Realtors, Sheri Anthes, this episode sheds light on how the verdict and settlement might alter real estate commissions, the role of Realtors vs. real estate agents, and what these changes mean for you. Whether you're navigating the market as a first-time homebuyer, a seasoned seller, or a real estate professional, gain essential knowledge on how these legal shifts could affect your real estate transactions and strategies moving forward. Don't miss out on expert analysis and predictions for the future of buying and selling homes in a post-lawsuit landscape

Today, I'm talking to Jonathan Keith of ONE Sotheby's International Realty in Fort Lauderdale Florida and a BreakthroughLuxury Coaching Client. Selling over $100m in sales annually, Jonathan is a top real estate agent running a team of over 20 agents, but it wasn't always this way. Jonathan came into real estate in some of the worst of times. In our interview today he shares not just his great successes and how he did it. He also shares hitting rock bottom before he bolstered his career.  Jonathan brings us to his pivotal moments and talks about what it took and meant to become a top real estate agent, selling over one hundred million dollars in volume annually as he and I talk about How to go from Zero to Breaking One Hundred Million. ⚡️Powered by BreakthroughLuxury Coaching & Membership https://BreakthroughLuxury.com 

On this week's episode of the Weekly podcast, learn how to keep your business operating at peak efficiency in the months ahead by understanding how the NAR settlement of the Sitzer-Burnett case will affect you and your brokerage. Illinois REALTORS® General Counsel and Vice President of Legal Services Betsy Urbance explains what she's learned about the situation in today's podcast. 

In the face of the proposed NAR settlement, how can real estate agents adapt to the changing industry landscape and prove their value to buyers and sellers?   In this eye-opening episode of the Real Estate Excellence podcast, host Tracy Hayes is joined by local industry experts Amanda Houser, Rose Alberre, and Sarah Puente to discuss the implications of the proposed NAR settlement on the real estate industry. The panel delves into the specifics of the settlement, addressing concerns about commission changes, the importance of buyer broker agreements, and the need for agents to demonstrate their value in an evolving market. Throughout the conversation, the guests emphasize the significance of education, adaptability, and professionalism in navigating the challenges and opportunities presented by the proposed changes. Listeners will gain valuable insights into the future of real estate and learn strategies for thriving in the face of industry shifts.   [00:00:00] - [00:03:00] Setting the Stage: Understanding the NAR Proposed Settlement   The Sitzer Burnett lawsuit and the 1.78 billion dollar verdict against the plaintiffs The proposed settlement and its potential impact on the real estate industry The importance of educating agents and consumers about the true nature of the changes [00:11:00] - [00:18:00] Adapting to Change: Implementing Buyer Broker Agreements   The significance of buyer broker agreements in the new landscape Strategies for explaining the value of the agreement to clients The need for agents to understand their agency and prove their worth   [00:26:00] - [00:35:00] Navigating Commissions and Compensation in the New Era   The misconception that commissions have always been negotiable The potential impact on VA buyers and the importance of finding workarounds The role of transparency and reputation in the new commission structure   [00:42:00] - [00:48:00] Thriving in the Face of Change: Education and Professionalism   The importance of ongoing education and training for real estate agents The potential for industry fallout and the need for strong leadership Embracing change as an opportunity for growth and differentiation [00:50:00] - [01:01:00] Looking to the Future: Predictions and Recommendations   The potential for increased brand loyalty and the importance of reputation The need for apprenticeship programs and mentorship in real estate Strategies for adapting to the new landscape and proving value to clients   Quotes: "I think the biggest misconception is that commissions have always been negotiable." - Amanda Houser "Reputation is key. It always has been, but I think now it's even more so." - Sarah Puente If you want to build your business and become more discoverable online, Streamlined Media has you covered. Check out how they can help you build an evergreen revenue generator all powered by content creation!   SUBSCRIBE & LEAVE A 5-STAR REVIEW as we discuss real estate excellence with the best of the best.    

Welcome to the latest episode of The Only Real Estate Podcast Worth Listening To! In Ep. 220, hosts Nick Good, Brian Force, and Matt Kelderman delve into the future of commissions in the real estate industry, specifically focusing on the Sitzer/Burnett outcome and its implications for REALTORS®. The episode explores the shifting landscape of real estate commissions, emphasizing the crucial role of buyer rep agreements in ensuring fair compensation for REALTORS® and delving into the impact of sellers offering concessions to buyers in MLS listings. Legal implications and potential issues related to steering buyers based on commission fees are also discussed, highlighting the need for REALTORS® to adapt to changing market norms and provide value to clients.Key takeaways stress the necessity for REALTORS® to focus on providing value, the increasing importance of buyer rep agreements, and the significance of adapting to new market norms and regulations for thriving in the evolving real estate market. Additionally, the hosts announced the launch of TORE webinars, aimed at helping REALTORS® enhance their marketing and sales skills. Viewers are encouraged to join the podcast's Facebook group for extended conversations and to subscribe to their YouTube channel for more enriching content. This episode provides invaluable insights into the future of real estate commissions, emphasizing the imperative for REALTORS® to adapt, provide value, and enhance their skills to succeed in the evolving industry landscape.Join The Only Real Estate Group Worth Being A Part Of on Facebook https://www.facebook.com/groups/2315035012099695Follow us on Instagram https://www.instagram.com/onlyrepodcast/Check our website for more content, webinars, full show notes, and your favorite TOREPWLT merch! https://onlyrepod.com/For all of your Texas and Oklahoma home mortgage needs reach out to Mortgage Mike here - https://mmgloans.com/To get more information from Theron Smith about your Armadillo Home Warranty sign up here -  https://Armadillo.one/TORECreate your own podcast with TORE Studios https://torestudios.com/Connect with Daina Winn with Homeward Property Management for all of your DFW Home Warranty needs - https://homewarddfw.com/

On March 15 the National Association of REALTORS® announced a proposed realtor compensation settlement for the Sitzer/Burnett case, and the national media immediately put out a ton of clickbait headlines about the sudden "end of the 6% commission." As with most things, the media got this one wrong, but there is MUCH to talk about with regard to this settlement. Buyer agents are going to have to work with their clients in very different ways moving forward, and we may be entering into a completely new world of real estate with multiple tiers of realtors. And sellers, while they may have more negotiating power in the wake of this settlement, may need to think twice before taking a scarcity mindset towards buyer agents. There is a whole lot more to discuss here, so let's dig into the details of this settlement and what it might mean for the future of real estate!  As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to Stan McCune directly by phone/text at (864) 735-7580 or by email at smccune@cdanjoyner.com.

A strong jobs report could postpone any rate cut delays until summer and we explore the latest move from CFPB provoking criticism from the mortgage industry. Meanwhile, the Sitzer | Burnett saga continues with plaintiff attorneys asking for a third of the settlement payout.

Byron Lazine and Nicole White discuss how much the National Association of Realtors (NAR) paid its executives and independent contractors in 2022, NAR's Hulu series, and the request by law firms for the Sitzer/Burnett plaintiffs for $82M in attorney fees from the settlement payout.

Rob Hahn, aka Notorious ROB, joins Byron Lazine to discuss the HousingWire “debate” between Michael Ketchmark and Anthony Lamacchia, its possible impact on NAR and the outcome of Sitzer/Burnett (and copycat lawsuits), and their reactions to a Super Bowl commercial.

On today's episode, Editor in Chief Sarah Wheeler talks with Reporter Brooklee Han about two big developments in the commission lawsuits. The two also discuss an increase in wire fraud. Related to this episode: HomeServices asks Supreme Court to apply arbitration to Sitzer suit Keller Williams settles the Sitzer/Burnett commission lawsuit for $70 million HousingWire's YouTube Channel Enjoy the episode! The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team. Learn more about your ad choices. Visit megaphone.fm/adchoices

Byron Lazine and Nicole White discuss the NAR interim CEO's video to “set the record straight,” the Keller Williams $70 million settlement, the HomeServices petition to the Supreme Court, and an update on real estate portal wars with the Sistrix Index Watch.

Welcome to GoGaddis Real Estate Radio, your trusted source for real estate insights and expert advice. I'm Cleve Gaddis, your host, and today we're delving into one of the most talked-about topics in the real estate world – the NAR lawsuit and its potential impact on buyer agency. Segment Teaser: Here's a glimpse of what we'll be exploring today: The NAR Lawsuit Updates: The NAR lawsuit has been making headlines and sparking debates across the nation. Almost every day, there's new information emerging about its implications. Today, we'll sift through the latest updates and share what you need to know. Is Buyer Agency Here to Stay?: Following the Sitzer/Burnett verdict, rumors have circulated about the possible end of buyer agency. But is this just noise? We've got industry expert Russ Cofano with us to shed light on the situation and provide insights that may surprise you. RE/MAX's $55 Million Settlement: We'll also discuss RE/MAX's recent $55 million commission lawsuit settlement, exploring the impact and implications of this significant development. In this information-packed episode, we aim to bring clarity to the NAR lawsuit's intricacies, separating fact from fiction. Join us as we navigate this complex issue, providing you with the knowledge to make informed decisions in today's real estate landscape. Don't miss this opportunity to stay ahead in the ever-evolving real estate market. Thank you for joining us on GoGaddis Real Estate Radio, where we empower you to navigate real estate with confidence and knowledge. Let's dive deep into the NAR lawsuit and its potential impact on buyer agency, right here, right now. Host of GoGaddis Radio, Cleve Gaddis, has been a fixture in metro Atlanta real estate since 2000. He has served Atlanta since 1987 by helping thousands of buyers and sellers make smart decisions. As a Co-Team Leader of Modern Traditions Realty Group, he is able to help clients and real estate agents alike. He has the heart of a teacher and is passionate about helping listeners learn the ups and downs and the ins and outs of smart home buying and selling all throughout metro Atlanta. If you have a question for Cleve, click here : https://gogaddisradio.com/ask-a-question If you are looking to buy or sell your home with Cleve, click here : https://moderntraditionsrealty.net/contact If you are looking to join a real estate team, click here : https://moderntraditionsrealty.net/career-opportunity

In today's RealTrending, Anthony Lamacchia, CEO and founder of Lamacchia Realty and Crush it in Real Estate, passionately shares why the commission lawsuits are wrong and why the industry must start speaking out. Not one to shy away from confrontation, Lamacchia hits the issue head on with his real-life view of how the commission lawsuit outcomes will hurt buyers. Lamacchia also discusses his phone call with Michael Ketchmark, the plaintiffs' attorney in the Sitzer Burnett and Gibson cases. Related to this episode: Connect with Anthony on LinkedIn Lamacchia Realty Crush It In Real Estate RealTrends GameChangers HousingWire's YouTube Channel Enjoy the episode! The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch. Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's RealTrending, Anthony Lamacchia, CEO and founder of Lamacchia Realty and Crush it in Real Estate, passionately shares why the commission lawsuits are wrong and why the industry must start speaking out. Not one to shy away from confrontation, Lamacchia hits the issue head on with his real-life view of how the commission lawsuit outcomes will hurt buyers. Lamacchia also discusses his phone call with Michael Ketchmark, the plaintiffs' attorney in the Sitzer Burnett and Gibson cases. Related to this episode: Connect with Anthony on LinkedIn Lamacchia Realty Crush It In Real Estate RealTrends GameChangers HousingWire's YouTube Channel Enjoy the episode! The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch. Learn more about your ad choices. Visit megaphone.fm/adchoices

To access a FREE collection of resources, go to www.TheMaverickVault.com   In today's Financial Freedom Friday, we'll tackle the significant shifts driven by legal challenges to traditional commission structures in the real estate industry. Join us for practical suggestions to help you prepare for these changes and navigate the evolving landscape successfully.     Key Takeaways From This Episode   The twists and turns of the Sitzer/Burnett case Increasing number of lawsuits in the real estate industry How REALTORS® access the MLS and how it affects their work Potential industry changes driven by ongoing real estate lawsuits Strategies for agents in a shifting real estate landscape     References/Links Mentioned National Association of REALTORS® HomeServices of America MLS.com   Are you a passive real estate investor seeking financial freedom? Almost daily, new headlines break on the latest financial market upset. Now is the time to get educated on how to strategically invest in commercial real estate for long-term financial freedom. Grab your copy of “How to Passively Invest in a Changing Economic Environment” Go to…www.MavericksInvest.com    Want to keep up to date on the commercial real estate market, trends, investing tips and know what Neil is buying right now? Connect with him at https://AgentOptional.com, and be sure to register for his newsletter.    Connect with Neil Timmins on LinkedIn. If there is a topic you want to know more about or a guest that you would like to see on the show, shoot Neil a message on LinkedIn.      About Neil Timmins Neil is a commercial real estate syndicator, published author, and podcast host.   Neil's entry point into the Real Estate industry came after a few short years in banking. Recognized by the Wall Street Journal as a Top 100 team and the #1 REMAX agent in Iowa by the age of 29, Neil had solidified his role as a force in the industry.   Having completed hundreds of Fix & Flips, Wholesales, Wholetails, Novations, and Owner-Financed deals, Neil longed to quit forfeiting time for dollars. After building a portfolio of single-family rentals to produce passive income, he found the strategy to be anything but passive.   Neil, however, didn't go looking for his first commercial deal, he actually stumbled into it. Since then, he has refined the process of analyzing and buying commercial properties that produce stellar cash flow.   Neil has been involved in over $300,000,000 in real estate transactions. While his holdings in commercial asset classes include apartments, offices, mobile home parks, and self-storage units, his passion is industrial property. Neil now has verticals in residential real estate, multiple commercial asset classes, brokerage, publishing, and this successful podcast.   Neil and his wife, Emily, are the proud parents of three active teenagers. Those who know Neil say he is a competitor by nature, whether for the biggest fish on a deep-sea fishing trip, the best ribs at a barbeque, or playing football back in his day at his alma mater, the University of Nebraska at Omaha as a Maverick. Neil is always up for travel, spending time on the water, and of course, meeting people interested in learning about and investing in commercial properties.   Click here to see video of the podcast. 

The dust hasn't settled, and likely won't for several years, but one thing appears to be certain: The real estate industry as we know is about to change dramatically, particularly for buyers agents. The impact of Missouri's Sitzer-Burnett verdict will also be felt by lenders and title agents. In this timely episode, FNF's Chuck Cain calls on real estate industry veteran Arthur Sterbcow, who offers candid takes on the verdict, and how his forecast for the future of the real estate profession.

Real estate is under the legal microscope as the National Association of Realtors along with several major real estate brokerages recently lost the Sitzer/Burnett case that alleged realtor commissions have been anti-competitively fixed by the NAR and major brokerages. More lawsuits are coming, and the question is: what exactly does it all mean for the future of real estate? Will buyers agents be going away for good, forcing people to dial back the clock to when they only worked with listing agents? Will major brokerages be going out of business? Will there even be realtors in a few years? We don't know all the answers yet, but there's still a lot to discuss about what we do know.  As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to Stan McCune directly by phone/text at (864) 735-7580 or by email at smccune@cdanjoyner.com.

The real estate market is a media favorite for sensational headlines and clickbait. So it's no surprise the Missouri real estate verdict in the Sitzer/Burnett buyer broker commission lawsuit moved the needle. The outcome will no doubt change the way real estate agents conduct business, but to what extent? And how can the real estate industry come together to find consumer-friendly solutions moving forward? In this episode, WFG Chairman & Founder Patrick Stone offers perspective, insight and possible paths forward.

Today I reexamine the seven key words you must absolutely use in explaining agency. In light of Sitzer/Burnett you must perfect your explanation of agency in order to protect yourself in this tumultuous time.  Plus a short thank you to several people who have helped me get to where I am in the industry today.Don't forget to like us and share us!Gary* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area. 

In this episode of the Top of Mind podcast, Mike Simonsen sits down with James Kleimann, Managing Editor of HousingWire, to talk about the landmark Sitzer Burnett case and its potential impact on the housing market. James was in the courtroom during the trial and is one of the foremost experts on what's happening now, and what's to come. Here's a glimpse of what you'll learn:  Overview of the Sitzer Burnett case and the verdict How these lawsuits are bigger than the tobacco industry cases Why the DOJ is now involved and what that means for the future of real estate What happens to buyers' agents Which states are next and how much more money is being targeted How this judgment could push control in the industry to institutional investors over individuals How this judgment could push power to tech companies over brokers and MLSs How soon big changes may hit the industry What happens next? Are there implications for 2024? Resources mentioned in this episode: Connect with James on LinkedIn Mike Simonsen on LinkedIn Altos Research Featuring Mike Simonsen, President of Altos Research A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. The company now serves the largest Wall Street investment firms, banks, and tens of thousands of real estate professionals around the country. Mike's insights on the market have been featured in Forbes, New York Times, Bloomberg, Dallas Morning News, Seattle PI, and many other national media outlets. Follow us on Twitter for more data analysis and insights: Altos on Twitter Mike on Twitter About Altos Research The Top of Mind Podcast is produced by Altos Research. Each week, Altos tracks every home for sale in the country - all the pricing, and all the changes in pricing - and synthesizes those analytics to make them available before becoming visible through traditional channels. Schedule a demo to see Altos in action. You can also get a copy of our free eBook: How To Use Market Data to Build Your Real Estate Business.

Home inventory climbs faster, HomeServices evidence gets messy in Sitzer/Burnett commission lawsuit, and NAR's Lawrence Yun shares 2024 predictions.

In a shocking turn of events, the real estate industry is facing an unexpected twist that has sent ripples of uncertainty across the market. The NAR lawsuit, known as the Sitzer Burnett case, has taken a dramatic turn with a jury's verdict favoring the home seller plaintiffs. This unexpected outcome has left real estate professionals grappling with the potential consequences and implications for their businesses. As the dust settles, the industry is left with more questions than answers, begging the crucial question: What does the future hold for cooperative compensation and the entire real estate community? Stay tuned as we dive into the details of this groundbreaking lawsuit and explore its far-reaching impact on the Texas real estate market.In this episode of the Texas Real Estate & Finance Podcast, you'll hear from guest Amy Cearnal, an expert in the real estate industry. Amy brings her unique insights and expertise to discuss the potential impact of recent lawsuits on the industry. She raises important points about the need for realtors to define their value and effectively communicate their services to clients. The conversation also touches on the role of technology companies like Zillow and the potential consequences for buyers and sellers. Amy emphasizes the importance of adaptation and differentiation in this ever-changing landscape. Whether you're a real estate agent or simply interested in the industry, this episode will provide valuable insights and guidance on how to navigate the uncertainties and challenges that lie ahead. Tune in to stay informed, proactive, and ready to adapt to the changing real estate and finance landscape.In this episode, you will be able to:Understand the impact of the NAR Lawsuit and how it affects your real estate business.Discover the potential consequences for buyer's agents in the ever-changing real estate landscape.Learn the crucial role of realtors in adapting to a rapidly evolving industry.Overcome the uncertainty and challenges faced by real estate agents with actionable strategies.Gain insights on how to adapt and thrive in the shifting real estate landscape.Connect with me here:https://www.youtube.com/youtube.com/@mikemillsmortgagehttps://www.youtube.com/youtube.com/@mikemillsmortgagehttps://www.linkedin.com/linkedin.com/in/mike-mills-49a09621/https://www.twitter.com/twitter.com/mikemillsMTGhttps://www.facebook.com/facebook.com/millsmortgage/

We are finally starting to see the fall out from the Sitzer/Burnett verdict against NAR and several real estate brokerages.  Lawyers and plaintiffs are lining up all over the country and filing lawsuits against real estate brokerages. Today, I examine the "Mother of all Commission Lawsuits" plus the Spartanburg lawsuit against Keller Williams. I will also give you several ways to protect yourself in this new era. Don't forget to like us and share us!Gary* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area. 

As the world turns... Mom and Dad are here to help but they can't help the NAR!! NAR is pledging that they will appeal and win the Sitzer Burnett decision and members of NAR Boards are getting sued in a new case in Texas! AND we talk about the big investor pullback in the Sunbelt but there is good news for buyers as rates have decreased and SELLERS are giving buyers concessions. But.. how are mom and dad helping buyers in this market? They got the money! Join the conversation for Episode 254!

Commission lawsuits are piling up in the wake of the Sitzer | Burnett verdict, Compass' Q3 Earnings Report shows $39M net losses, and iBuyers slide even farther from hyped market disruption.

Listen now as Tim and Julie Harris discuss exactly what agents should be doing now as a result of the commission sharing lawsuits.  Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? https://whylibertas.com/harris or text Tim directly 512-758-0206 IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://members.timandjulieharris.com 1.   Commit to using a Buyer Presentation to 100% of your buyer prospects, 100% of the time.  In your presentation, you will discuss what the buying process is, what your buyer client can expect from you, what you expect from them, how Agency works, and how you'll be paid.  2.   Always state the fact that commissions are now and have always been negotiable. The fees or percentages are set by the broker and their client.  REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris 3.   Have your Buyer Presentation as early as possible in the relationship and practice maximal transparency regarding both their choices and your terms.  4.   When presenting to your Seller prospects, be very clear in discussing how offers of compensation are made from a listing broker to a buyer's broker. Be clear about terms and amounts and always present a Seller's Net Sheet. Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699 5.   Know how to present several different scenarios to your buyer clients regarding how you will be compensated:  -Through offers of compensation via the listing broker of the home they wish to purchase, asking for seller's concessions if that offer for your compensation isn't present, a combination of both, or simply paying out of pocket if you're not otherwise covered.  When and How Should You Discuss The Lawsuits and Verdicts With Your Prospects and Clients?   Talking Points. Note: Don't bring up the lawsuits as a talking point with prospects, clients, or customers unless they ask you to. (Don't create an objection where there isn't one!) It's a fluid situation that we will keep you updated on. If you do get questions about the lawsuits, try to keep your conversations short and factual.  Here are some talking points to help: 1. The National Association of Realtors (NAR), has stated they believe the jury in the Sitzer Burnett case reached an outcome that is '"neither supported by the law nor the facts presented in the case". NAR plans to appeal. The appeal process could take months to get resolution. Currently, nothing has changed.   2.   The trial was concerning a rule, which is already quite consumer-friendly. That rule applies to local MLSs where listing brokers offer compensation to buyer brokers who have introduced a buyer client who wishes to purchase a listed home.   3.   Remind the person you're speaking to that agents and brokers are paid $0 until a closing occurs, and that closing is based on the written agreement between the buyer and seller.  4.   The way commissions are paid has created an efficient, market-tested, transparent sales environment where sellers often receive more showings and more offers, and sell their homes in less time at a higher price than had they not offered buyer broker compensation.  5.   Communication and transparency is key.  If and when commission practices change, we will keep you updated with new presentations and scripts through Premier Coaching, as we always have!

We discuss the court case between the National Association of Realtors vs. Sitzer-Burnett and Missouri Home Sellers, the verdict and what it means for buyer side real estate agents and seller, listing real estate agents. We have special guest and real estate industry veteran Art Bettuzzi of I Love Real Estate School to join the discussion.BACKGROUNDThe National Association of REALTORS® and two codefendants were found liable last Tuesday in the federal Sitzer/Burnett trial, which challenged MLS rules and the real estate compensation model. The eight-person jury also found liable HomeServices of America and Keller Williams Realty, which were named in the lawsuit.“NAR rules prioritize consumers, support market-driven pricing and promote business competition,” the association said in a statement. “This matter is not close to being final, as we will appeal the jury's verdict.”In presenting their case, plaintiffs argued buyer representation is obsolete and should only be afforded to wealthy buyers who can pay for the services out of pocket. They also alleged commission rates are too high, buyer brokers are being paid too much and NAR rules, along with the corporate defendants' practices, lead to fixed pricing.NAR countered that consumers are better off and business competition is able to thrive because of MLS rules and how well local broker marketplaces function. NAR's cooperative compensation rule ensures efficient, transparent and equitable local broker marketplaces. Sellers can sell their home for more and have their home seen by more buyers, while buyers have more choices of homes and can afford representation. NAR also argued that REALTORS® are everyday working Americans who are experts at helping consumers navigate the complexities of home purchases, as well as advocating for fair housing and wealth-building for all.NAR plans to appeal the jury's verdict, but that process could take years to resolve. NAR says it remains committed to pro-consumer, pro-competition practices and is confident the association will ultimately prevail.During the 11-day trial, NAR presented the facts and law about pro-consumer, pro-competition MLS rules, which class-action attorneys called into question. The case covers the Missouri markets of Kansas City, St. Louis, Springfield and Columbia.“NAR rules prioritize consumers, support market-driven pricing and promote business competition,” the association said in a statement. “This matter is not close to being final, as we will appeal the jury's verdict.”In presenting their case, plaintiffs argued buyer representation is obsolete and should only be afforded to wealthy buyers who can pay for the services out of pocket. They also alleged commission rates are too high, buyer brokers are being paid too much and NAR rules, along with the corporate defendants' practices, lead to fixed pricing.NAR countered that consumers are better off and business competition is able to thrive because of MLS rules and how well local broker marketplaces function. NAR's cooperative compensation rule ensures efficient, transparent and equitable local broker marketplaces. Sellers can sell their home for more and have their home seen by more buyers, while buyers have more choices of homes and can afford representation. NAR also argued that REALTORS® are everyday working Americans who are experts at helping consumers navigate the complexities of home purchases, as well as advocating for fair housing and wealth-building for all.NAR plans to appeal the jury's verdict, but that process could take years to resolve. NAR says it remains committed to pro-consumer, pro-competition practices and is confident the association will ultimately prevail.Several other lawsuits have followed.LINKSArt Bettuzzihttps://www.iloverealestateschool.com

Welcome to this BONUS episode where we discuss a potential game-changer in real estate – the recent Sitzer/Burnett lawsuit. This legal battle and those certain to follow have the potential to reshape the real estate landscape, challenge the current commission structure and disrupt the industry as we know it. While there are many unknowns ahead, this is not the first time Jake and Reed have experienced disruption in the real estate market, and they will explore the perspective of three spheres we navigate in life: - The Sphere of Control, where we manage our skills, habits, and mindsets.- The Sphere of Influence, reflecting our impact on those around us.- The Sphere of Concern, encompassing aspects beyond our control or influence.Join us as we examine the fundamental skills that will empower you to take advantage of the coming opportunities and provide the level of service your clients deserve. Don't let the fear of what's beyond your control hold you back from what's possible for your business and professional success!https://www.rmgagentpodcast.com/https://www.youtube.com/@RMGAgentPodcast/featured

Market Proof Marketing · Ep 310: Investing In IntegrityIn this episode, Andrew Peek is joined by Beth Russell and Jen Barkan! Together, they discuss the motivation that comes with investing in your goal more heavily and how, through your investment, your passion is more noticeable to those around you, similarly to businesses investing in good marketing that earns loyalty from customers. Beth stresses the importance of having integrity in home building no matter how enticing it can be to cut corners and the three agree that magic happens when online sales and marketing are communicating and working together.Story Time (01:48)Andrew was impressed by the marketing of a local Greek cuisine restaurant.Beth brings up the importance of having integrity in the homebuilding process.Jen tells a story from a coaching session she had this week.The News (26:36)Must Read! GA4 Channels Function Differently than Universal Analytics (https://www.doyouconvert.com/blog/must-read-ga4-channels-function-differently-than-universal-analytics/)White House opens $45 billion in federal funds to developers to covert offices to homes (https://www.morningstar.com/news/marketwatch/20231027198/white-house-opens-45-billion-in-federal-funds-to-developers-to-covert-offices-to-homes)Lender Will Split the Difference If You Give Up Your 3% Mortgage Rate (https://www.thetruthaboutmortgage.com/lender-will-split-the-difference-if-you-give-up-your-3-mortgage-rate/)Brokers prepare for changes after Sitzer/Burnett commission lawsuit verdict (https://www.housingwire.com/articles/brokers-prepare-for-changes-after-sitzer-burnett-commission-lawsuit-verdict/)Things We Love Things We Hate (50:13)Beth is loving the Reese's take 5 candy!Jen is enjoying the Starbucks holiday drinks that rolled out.Andrews favorite loves the very berry skittles bag mixed with starburst.Questions? Comments? Email show@doyouconvert.com or call 404-369-2595 and we'll address them on the next episode. More insights, discussions, and opportunities can be found at Do You Convert All Access or on the Market Proof Marketing Facebook group.Subscribe on iTunesFollow on SpotifyListen On StitcherA weekly new home marketing podcast for home builders and developers. Each week Kevin Oakley, Andrew Peek, Jackie Lipinski, Julie Jarnagin, and other team members from Do You Convert will break down the headlines, share best practices and stories from the front line, and perform a deep dive on a relevant marketing topic. We're here to help you – not to sell you!Transcript:AndrewSo I'm trying to up my content game. So in front of me I have I'm looking at my web camera immediately. Behind the web camera is my Sony A7 three, which like maybe 5% of people like, know what that is? And I got like the lens which should be perfect for this distance to have everything behind me out of focus.AndrewThen I have like this monitor. I forget the name of it, like this other screen attached to it so I could see myself scramble, like walk behind my desk. But okay, this shot's good. And then I got this, like, crazy tripod thing that has one, two, three, four, five, like seven articulation points. So it could be like. Like this, like a claw to do it, but, like, it just looks like chaos behind my desk now.AndrewSo I'm still getting used to it, but I'm so excited. I did some test clips and my goal for this is to make content easy to create, which I've never been in. Like a consistent flow because it's like set up the camera, take down the camera, set.Jen You're going to start doing more video.AndrewMore video content like me, kind of talked about that people should do, like practice what you preach a little bit.BethWell, then send that setup my way!AndrewI will maybe know anything.Andrew$3,000 or so, but like it's been over the years. It's been over the years. We'll see. Is it worth it? I don't know. It kind of leads into my story time as far as like, is it worth it? Is it not worth it? So maybe we just I'll I'll go into story time. But first, let's get started. Welcome to episode 310.AndrewI am the self-proclaimed ad doctor with no formal education to call myself an ad doctor. And with me today is Beth Russell and Jenn the one and only barking woo! Who were here. Here. So, yeah, let's see. Yeah, I'm excited. I'll just continue with my story time. So content and trust is what is what I'm going for. So is it worth what I spent on my camera and equipment for content?AndrewFirst of all, I use it for other purposes. So and I've had it for a couple of years and over time I've built it up. So it wasn't like I just spent all this money on fancy camera and everything. Last night we were not in a mood to do any cooking, which really means I do. I do other cooking, make sure notes, listening.AndrewI do other cooking at the house. I'm like, I'm not cooking anything. I took Addy, our youngest, to Tumblr, and so I got home at like 7:30 a.m.. Like, it's getting late. Kids go to bed at eight because they're elementary and middle school. There we go. I'll order some food. So we went out to Uber Eats because I did not feel like driving.AndrewLike, Oh, let's try this little Greek place out that's like right around the corner. That's like my, my limit. Like, I want something close so the food is fresher, right?JenYeah. So does it take too long?AndrewYeah. And it's called you little. It's called Little Greek. I've never been there, but the reviews are good. But, like, you never know, Like, that could just be, like, friends, family. They're like, you know, guilted people into leaving reviews. So we get it. And every single thing is branded with their logo. Like, we got a First of all, how do you pronounce Giugiaro Euro?AndrewEuro?JenYeah, euro or.AndrewLike the euro, they're not really.JenAre Gyro.AndrewGyro.Jen003 is not right.AndrewIt's definitely regional. Right. But who knows. That's, that's funny. So that's what I ordered. That's what Lindsey ordered. Then we got some other things but it was the euro was wrapped in a branded like little. What's it like parchment paper, styrofoam. It came in branded the little wrap that goes around the napkins and forks branded. I'm like, Oh.AndrewSo immediately I'm like, I kind of trust these people already. I've never been to this place. Think about the opposite. What if it came in like a generic, the absolute cheapest to go container the cheapest paper, the cheapest. I'd be like, Ooh, with food. And maybe I'm weird with food safety, but I would have had this impression. Like, they probably cut corners somewhere.JenMm hmm. Yeah, they have attention to detail.AndrewIt's NATO.JenSo it's France.AndrewSuper important. All right, So I'm hoping quality, the better camera setup should give the impression that we, I, all of us, care just a little bit more. Yeah, because it's perfect. It's, you know, the audio is going to be ten out of ten the video, ten out ten all all these things. Is it necessary? I have no idea.AndrewProbably not, because we're not used to seeing every single person make content with a fancy set up. Usually it's phone, but you're good to go.JenThere is something to be said for there's some.AndrewSo like in Kevin if you're listening I'm request I'm just kidding.JenWell that there is I agree with you in that there's something to be said for the quality of the output starts with quality tools. Yeah you know I think about like my kids who are in sports and like my son coming to me saying, like, he needed, you know, for pitching. He needed the very best glove or the very best training weighted balls and I'd be like, whatever.JenHe's like, Yeah, but. And there's something with the perception of, Yeah, I'm investing in myself. And then the output of what I'm producing is going to be that much.AndrewThat I actually agreed. Maybe there's like a minimum threshold, so you don't need to go like all out, but like it needs to be like it hits this threshold where like, okay, everyone is like, all right, I trust it enough. So maybe the company last night, they didn't need everything to be branded, but maybe just like the wrap around the food, it's enough because I was colored.AndrewIt was like white and blue, which makes sense. Greek like it would be white and blue, but maybe not everything would have given the same feeling, but nothing certainly gives the opposite negative feeling. We're like, Ooh, like, I don't know, like, never been here before. It's not like they didn't didn't take that extra step. Maybe they're actually being lazy.AndrewSo it was a shock moment. I'm like, Oh, I just got like marketed.JenAnd I feel like I work out there when I, when I have like, the brand shoes on.AndrewYeah, I agree.BethWhatever it takes. The lemon versus the Amazon.AndrewOfficer.JenIf I had if I had Lululemon outfit Lululemon not Lily.AndrewYou're wearing like $600 worth of stuff AirPods.JenLike the, like the best workout.AndrewThis the best work.BethOf my life. I have a question. When you guys go places and they have those like fully branded items or like you go to a restaurant, they have those thick nice paper towels in the bathroom. Do you immediately go to like the dollar signs of how much all of that stuff costs? Because, you know, you know, like more than my money.AndrewI definitely think about that.BethI think about it all the time because I think like, okay, they've made so much money just buying the foam containers in bulk. Yeah. But to get the emblem or to get the stamp of their logo, the amount of money and time that they invest into doing that, I'm like, okay, they care and they're investing in it and they have the money, so they have to have the profit.BethSo they're making enough money, they're selling enough food, People must like them, boom.JenYep, Yeah, 100%.AndrewAnd maybe there's something like we feel like we it's like why apparel works for some companies and doesn't work for others. You buy apparel because it makes you feel like you belong to whatever that brand is. I think that I'm Mark at the summit. I forgot his last name from a thousand. What he talked about that was not not it was a Davidson Mark Super cool, dude.AndrewI think. Mark Right That's one the producer is I'm terrible last names but he's like you belong to this brand. Like why do you buy Nike versus New Balance Other There we go. Mark Davison Olivia's helping us out or why do you buy X, Y, Z bat versus another bat? Like I don't know, like you're part of the club type of deal.JenMy it's my husband won't only buy Nike. Yeah, it's like even to the point of like following certain sporting like athletes. Oh, they're under armor. Oh like they must not be that good. It's like.BethMaybe.JenA Nike branded athlete.AndrewI'm from Maryland, so your character's really sensitive about this.JenThis is I'm.AndrewNot sure what else is from Maryland.JenThis is not me. I'm saying. I'm saying my husband.BethI'm just giving.AndrewHim another Andrew.JenAnother Andrew?BethYeah, says Andrew's man.AndrewYeah, we got old Bay. We have. It's in there. It wasn't a cake show. And Maryland Cake.BethBoss. He was in Maryland. Yeah, he was.AndrewBoss Old Bay under armor and the Wire, I think was is. Oh, Cosmo.BethThanks for asking.AndrewYou're welcome. You're welcome. Okay. All done with my distractions. Beth or Jen, who wants to go next?BethWell, I have another story about details, if you will. So I'm going to coordinate.AndrewThis without even knowing.BethAnd we always end up doing this. Or we're just really good at transitions and we don't give ourselves enough credit. Maybe. Oh, but basically, I was having a conversation with someone in the industry yesterday working construction, and she was telling me why she left her previous builder and what was like the reason, like the catalyst to her just being like, okay, I'm done.BethAnd she was on site with one of her superiors, like I guess like an area construction manager type person. And I think she was the superintendent at the time essentially. And they were going through like their queue, so they were evaluating the home. And she pointed out some things and the the superiors response was, well, if they don't mention it, if they don't see it, then it's not actually a problem.BethAnd she was like.JenNope.BethI'm done. Like, I'm not going to be a part of this. This is not like I don't want my name attached to this type of builder or to this type of mindset. And I think it's just really interesting because it points to integrity, right? And the detail.JenOf what I was thinking.BethYeah.JenAnd like the definition of integrity.BethMhm. Exactly. And it's like she, she wasn't willing to compromise her integrity to be a part of it. And the details, the little small things that he didn't think were a big deal, they could eventually come back and bite you in the, in the years later. It could, it could cost the company a lot of money, It could cost the company their reputation.BethIt could cost him his job, her, her job, all of these things like you have to have integrity in your building, in your marketing, in your data collection, and how you do sales. Like if we lose our integrity, then there's a domino effect that could happen later on that could really cost us a lot more in the end.BethSo it was a cool little story and I was just like, Then you go, girl.AndrewYou go, you get it, you go, you get the A Who cares about that? Yeah. Especially on the home side. I mean, that's the product like we're building. Yeah, we're not I mean, I'm not building homes. She's building homes. You know, props to her. Like, that's the there will be someone living there 24 seven. Like they will find those things eventually.BethAnd I wish there were more people like her in in all areas. Right. Not just in construction but in in in marketing and sales and whatever. Because her response to it was, I don't want to be a part of the problem. I want to be a part of the solution. And if I can't make it better, then I don't want to be there and I or I don't want to be in this industry anymore.BethShe was like, I'll go like work at Chick-Fil-A, but you know, whatever it is, like, I feel like I'm making people happy.AndrewFor sure and not be on home. Inspectors tick tock reviewing like yet another. Have you all seen those yet another homebuilders? I'm being kind of like tick tock. The content goes viral because it's interesting. There's a story, there's tension. Right. That's more interesting than a perfectly made home. Right. Which one do you want to watch? The home that looks like it's falling over the one that's like, oh, like it's perfect.JenYeah. The train wreck.AndrewYeah. You're not sitting right? Yeah, the same. You're. What's that rubbernecking they're turning. They're like, okay, cool. You're like the accident essentially. So it's just it's just drama. What do you what do you got, Jenn?JenWell, I've got a lot to think about, but one thing that really stuck out that's super relevant right now is that I was talking with on a coaching call this week with an online sales specialist and we were looking at numbers and you know, just one thing to keep in mind, I think as we move into this next few months, you know, things are a little harder.JenPeople are looking at numbers and really scrutinizing everything. And so we were doing that together and just talking about lead to appointment specifically, hers had dropped from September to October.AndrewOkay?JenAnd I was like, okay, like, why do you think that is? And I was expecting she was going to say something like, Well, it's really harder right now. Like customers are being a little bit it's harder to get them to an appointment. That's what I was anticipating she was going to say. But what she said was she goes, I think it was me and I think it was my mindset.JenShe goes, I had kind of gone down this rabbit hole of watching a lot of media talk about interest rates and how the market is tough. And she said, I think that was affecting me and like I was projecting concerns I was having about the market on to the customers I was talking to. And so I sat back and I was like, that's really insightful of, of yourself, that you're self reflecting and you're realizing.JenAnd I said, Okay, this is what we're going to do. I said, Right now let's let's write down what are the pros of buying? Let's switch our brain. What are the pros of buying a new home right now? And so she start she was like, okay, she's like, you know, we have inventory. She's like, there's not a lot of other inventory on the market.JenAnd like, exactly. She's like, we have a warranty, we have a home warranty. It's a new home like. And I said, Exactly. I said to think about cost versus, you know, the cost of buying a new home versus the cost of a resale home where you might have a lot of other expenses that go into that. And she's like, Exactly.JenAnd I said, okay, what our. Oh, and I said, What else? She goes, Incentives. We have incentives. I said, Exactly.AndrewYeah, that's a good one.JenYeah. I said, You have incentives, you have a warranty. It's a brand new phone. You have inventory as it builders have, you know, the ability right now to provide those incentives that used homes don't have, you know, on the market. And so I said what are the cons? Okay, we've made our pros list, what are the cons? And she was like, well, I guess really the interest rate is the main thing.JenAnd I said, okay. And I said, But people don't buy interest rates, do they buy homes? So let's talk about how we can talk about that. And so we spent some time just kind of thinking about that. And really what it boils down to was the main thing is the affordability. You know, the affordability because in this particular online salespersons, market affordability is huge because there they sell to more entry level, you know, first time home buyers and that affordability is crucial.JenAnd so we spent some time talking about like for online sales specialist, they're not trying to convince somebody, you know, especially like a new home, a new first time buyer. It's like, I'm not going to sit there and try to convince them that it's affordable like that they should purchase. Right now is a good time to buy at an 8% interest rate and the affordability is going to be fine for them.JenBut what they need to focus on is let's do this, come out, take a look at how we build that way. When you're ready and you feel comfortable, you'll be able to determine if our builder is a good fit for you or not. And so I think online sales just has to have that perspective shift of there. So hung up on like, I got to get I got to sell, I got to get this person thinking that now they should buy when really let's just get them thinking about coming in and taking a look at our homes because hopefully they'll come in, they'll fall in love, they'll meet with that salesperson that's on site thatJencan show them how cost changes, what incentives they could work with to kind of help them to be more affordable. And so it was a really good exercise to kind of go through that. But how powerful I mean, what you guys agree like that mindset of like if you're sitting there thinking like, yeah, like doom and gloom that's going to project on to the people you're talking to.BethAbsolutely.AndrewYeah. Yeah. I think I just wrote this down. My brain is like getting excited from from everything you're saying I wrote. Is affordability an objection or is that just a reduction of market size? So that's like semantics, like objection being like, well, you know, like you guys have nine foot ceilings, they have ten foot ceilings. To me, that's objection.AndrewI'm not even in sales training, so tell me I'm wrong like all day long versus affordability is like if you cannot afford the home like it, that doesn't there is no objection. I guess you're not in market.JenBecause you feel like it's really an objection. It's not like.AndrewYou know, like work your finances a bit like, you know, like we like for this person, we have no debt. Our income is as such, like, here's what we qualify for. It's not that's not an objection. Like, you can't even think about it. But the objection is like to me, there's choice for an objection. So they're on the phone and they already been maybe they haven't been pre-qualified.AndrewThey're just brand new. Yeah, get them excited. Like, Hey, come on out like that. So much fun. Like, come see our communities talking to people we know. Just, you know, Halloween was, what, two days ago? Our Halloween experience with our kiddos compared to our friends who live in where we're at. Like we have very few new home communities Pinellas County, Saint Pete, Clearwater, like west of west of Tampa, very few new home communities.AndrewOur kids Halloween experience, I can guarantee, is 100 times better than those who live in a, quote, traditional community. That's like where it's just like sixth Avenue, 17th Avenue, whatever it is. And like for like there's no one doing like trick or treating. I'm like, Oh, come 2 hours, we got 70 houses, everyone is out, end of their driveway.AndrewYou don't have to knock on the door. Candy, candy, candy, candy. And we're used to it. And so it's fun. Or they go to I'll go to One Tree Oaks, which is they older, established community, one entrance in one instance out. So they're all going to these places that are communities like, wouldn't you want to live in a place like this?AndrewLike there's 20 kids on the block, like all these things that are if they can't afford it, like it makes them move like, okay, so we're $400 more per month or whatever it is. Like that's a lifestyle upgrade. But for a good reason. If you have kids, if you could even have that discussion. But there's there's more than just the numbers.AndrewI think people forget like there's more than just the dollar amount, like there's the value of community and and being around people. If you have kiddos or if you don't like.JenRight.AndrewGoing somewhere where like it's active.JenSo exactly So to that point it you know online sales can't you have to be careful about getting hung up on their job is to engage and to get somebody excited about the possibility of buying or building not to sell the home over the phone. That's legal for the salesperson. Leave that for the people that are trained to do that out on site.JenJust get them excited, have them think about what it would be like to live there, to trick or treat there in that community and get them out for informational sessions. You know, we I've said this like 20,000 times. We'll get the word appointment out of your your words, your vocabulary and start talking about we'd love to host you for a discovery tour.JenWe'd love to host you for an informational session and I'll be sure to let everybody know that you are just in the beginning stages of looking. They come out sales, get them excited. We see how they could be living in the home. And that's that's the shift. That's the mental shift that has to happen.BethYeah. And I think in any rocky market situation or when, you know, these doom and gloom conversations are kind of or thoughts are looming either in your brain or the people that you're talking to whose brain remember one core thing and they're calling you for a reason exactly how they get on the website.JenAll the interest rates.BethYeah, they had to be. They called.JenYou.BethYeah, exactly. And if you just remember that, it can help you get in that mindset of like, okay, they're calling me for a reason. They're interested in this market. Let's let's have a party, let's talk, let's make it fun and try to drag it out.AndrewYeah, I think pick up, pick up Starbucks on the way, like something out a little bit. Like I don't know if like to meet us would be a thing. And if you do this because it is the person's schedule. But like, if I don't have have kiddos like hey, I come by at 430 today or like schedule an appointment or like the kids are out.AndrewLike if you happen to be that familiar with like the schedule like and then they pull up in the street and they see like kids running around hours. I feel like most of our street, like we raise our kids like free, free range chickens. Like it's like, let them roam around, it's gated, they're out and everyone's got ring cameras all over the place.AndrewThere's usually like two or three parents out doing something in their yard and 15, 20 kids out. Now, if they're an older person with no kids and they don't want that, that'd be a terrible idea.JenDon't send them out to get. It's the.AndrewMinistry. No. Oh, goodness. What fun. Yeah, you're just kidding. Just getting them excited. Yeah. Yeah. Know any other stories? When you talk about anything else happen at all? Not on my end.JenWell, listen to. I could tell. I could tell you, Andrew, that today that we presented to our online sales academy.AndrewI love it.JenAnd I had fun presenting to our online sales Academy was because we wanted to do a session like a marketing 1 to 1 session for online sales.AndrewOkay.JenYou know, just yeah, that's needed. We well, we talked to all and I said, well, it's time. Like your job is to quantify what's happening. And like that said, well we were talking about earlier somebody is like yeah, I didn't really understand what that meant. Like, I hear like how important this is, but what does that even mean?JenSo like, but what? Yeah, I think everybody what you.BethI think it was really powerful. The conversation that you're referencing, Jen, is that she was like, I heard when I took this position that I would have to own my data and I'd have to I'd have to know my numbers, but I didn't know what that meant or the impact of actually doing that. And so what we did was painting a picture alongside Jesy and Amanda of what that meant from an organizational standpoint, going back to integrity, how important those numbers are and this like vital position that the online sales people have within maintaining that flow of the funnel and the kind of feedback and data and information and collaboration that can happen between marketingBethand online sales. And I think that's kind of where do you convert was routed from is that relationship between marketing, marketing and online sales? Because I feel like oftentimes we're seeing that marketing feels like a silo. They feel undervalued, unappreciated and like it's not as invested in. And then online sales can oftentimes feel the same where like, you know, sales gets all the glory and they're the ones writing the contracts and people aren't really sure what it is that they do or what it really means.BethAnd they feel like they can have more of an impact. And so we kind of talked through that and how the two departments can lean on one another and work together and find solace in the two of them collaborating and and and celebrating one another. So it was really fun. It was really, really.AndrewSound so positive.JenWell, you know.AndrewWhat? I'm stealing someone. Jen, Jesse, Amanda. For the marketer of marketing Academy sales.JenYes, Yes. Boom.AndrewAnd Beth, is Beth also do something like that. Gives me like 2 hours. So I eat some food, take a little break to the academy because we're like 16 hours of talk.JenAnd I share something that is very relevant.AndrewThis my horoscope.JenConversation would say, Yeah, listen to this Gemini. Every week I pull one of these random cards out. Okay, you guys notice I.AndrewNeed to know what it says.JenAnd, well, I'm going to read it to you. So this week's card is collaboration. Oh, okay. Let me read to you what it says. I take pride in my role as a good collaborator and look for opportunities to help support my colleagues ideas rather than dismiss them outright. I fill my meetings with yeses and ends and I celebrate the constructive power they have over Butz and or else, unless I work for a company that makes cigarets and boats, in which case bucks and orders would be Oh, never mind.JenOkay.AndrewThat's hilarious. I know why this reminds me of Elaine of Money Garment. I don't know why. It just seems like something she'd say so positively.JenYeah, Collaboration. I like it. But, you know, when Beth was talking, did you notice? And she was like.BethShe's dancing. I do it when I like to. Yeah, when things make me happy. I just like.AndrewChick-Fil-A and I get Chick fil A's sauce.JenSweet tea, you know?BethNo, no, sweetie.JenA collaboration between online sales, onsite sales, marketing. You know, it's an ecosystem. They all need to be collaborating, working together, and even just within teams, you know, collaborating like us, you know, like we collaborate, you know, we could easily live in our own silos between sales and online, I mean, marketing and online sales and whatever. But magic happens when you collaborate.AndrewThe magic.JenI love magical collaboration. Good.AndrewYeah, that's it for today. I'm just kidding. That's not it for today.JenAnd we are out.AndrewAnd on to the news. Here's a fun one. I'll let Jen take this first one I wrote a blog.BethPost.AndrewReady for. I'm just kidding. Wow. This is collaboration, in effect. No, we don't have to do that.JenDid you see.BethThat? I shared these and shared it.AndrewYou commented on a link and it was awesome.JenI read it.AndrewIt's good.JenI read it.AndrewAnd that's perfect collaboration. You at it? Did you.BethSee? No, that's not Gatorade, right.JenThat's my joke for. Oh, it's not is it is.AndrewG for the Gatorade? Is that you for something?JenSounds like it should be Gatorade. That's why I'm good. It's not Gatorade.AndrewAs a perfect blend of I.JenWill Electrolytes explain it. I read it, though, and I said that I am happy that you are on this team and that you can share these very insightful things with the world, very insightful.AndrewIt's very exciting to explain it. It's actually the opposite of exciting. It's yet another thing that Google has done to make G4 just a little more challenging. So for everyone listening previously in Universal Analytics, you can change the default channel grouping settings. So we're bringing all this data. We want to put it in nice organized buckets. You could change those settings with the default group of those buckets, channels and J for you can't do that.AndrewYou have to duplicate the default channel groupings and then you have your own custom one, whatever you want to call it, device C channel groupings like make it, make it a cool name or or best channel groupings. You know, put your, put your stamp on it and then you could change things. So it's like this extra step you have to do.AndrewIt's really not that big a deal. But for most of us you do have to change it a bit, especially if you previously had like a syndication channel. Now that's going to what they're calling unassigned. And ideally unassigned is as little as possible. We've seen some builders, it just explodes because they either have a misspelling in there and they're UTMB or there's something technical going on that like the data is not being interpreted correctly from Google Analytics.AndrewSo we need to own our data, We need to know our data, We need to be familiar and best friends with it. So if you're seen on a sign, essentially the symptom is if you see unassigned as a very big traffic source, chances are you need to check this article out and make the changes. Super quick and easy.AndrewI'd say 5 to 20 minutes depending on experience to get it done. Not a big deal.JenNot typical. So that's sometimes you have to do those things though, which was.AndrewYou know, kind.JenOf make it like you've got it. Yeah, you've got to sit down and focus on some, put on sprinkling some rap music and yes.AndrewSally Who? Kendrick Lamar. Yeah. Who else should we put on sexy record.JenLike, okay, so I'm like, you know, Notorious Tupac.AndrewOh, Tupac. There we go.JenOh, yeah. Dr. Dre. Snoop Dogg.AndrewYeah. Eminem. He's not old school, actually. You think about it like, Oh, we're.BethOld.AndrewAndrew is getting a little aged, but all the young kids still like him. All these young'uns, you know, who knows who knows? Well, let's go on to the next one. Beth, you won't take this one. It's about big money from the White House.BethBig money. White House.AndrewStar.BethOpens $45 billion in federal funds to developers to convert offices to homes. So essentially what's going on is they are helping fund all of these offices that have at least 25% vacancy rate and providing some funds to developers and incentives to developers to convert said vacant offices into affordable, affordable renting homes for people. So that way, part of it is also like trying to keep the housing area local to where people are working.BethAnd so there's less fuel emissions and less commutes and, you know, things going on there. So there's some added benefits. But I'm curious of what you all think about this, because I fear, like what happens in like ten years.AndrewYeah.BethWhere how affordable are they is going to be? Are they going to maintain that affordability?AndrewYeah, I think that's terrible.JenI need to think about ten years from now.AndrewI don't know, ten years, ten years now we'll have a population issue. Like there's not enough.JenLike I mean, when I first read this article.AndrewB 44 so I'm good.JenAndrew. Andrew might be thinking about empty nesting and moving into one of these years.AndrewLet's see, our oldest will be 21. So there's that, our youngest will be 16.JenI don't know that when I, when I first read this, I thought it was positive, but I was I was thinking like one affordability. And I was also thinking about that. I have two young adults who are going to be wanting to move out on their own here soon. And I had recently visited DC when I was staying.JenI was in Georgetown and I was like, my son was born I thought was beautiful. Such a fun, cool place to live, but it's so expensive. Yep. And I was thinking, like, how cool it would be if I was a 20 something, you know, just out of college, young, professional. And I wanted to live in a Georgetown like area.JenAnd I saw this article and I was thinking, Oh, that would be really cool. MM So I was looking at it from that perspective.BethNo, I totally agree. And I think it's, it kind of circles back to what I did in Silver Spring, Maryland.JenWhere. Yes.BethYeah. Where they're taking their instead of doing X percentage for affordable housing or what is it called Section eight housing, they're expanding it a little bit further. And so they're making it like based off of the income that the person makes. And so there's more people that can afford to live there. So I think it depends on how it's defined and making sure that it's regulated in some sense.BethBut I do agree that it's a it's creative because having lived in the D.C. area, having lived in in other city, big cities, there are so many office buildings and office space that's just not being.JenVacant.BethSitting vacant. Yeah, not being used. And then also you have like the only things that are coming up are high end condos or high end townhomes that are harder to afford as a young couple. So I think there's a lot of value there. I'm curious to see how it goes. And I just hope that the the greedy developers at the top aren't taking advantage of it, but they do good things like, like why I.JenDid. Yeah.AndrewSo I'll be the counterargument just to be the counterargument. I think it's a terrible I think it's a terrible idea. And I'm more so because of, well, can we have housing in that building based off of regulation, city, county, whatever. Like, well, that's a nightmare. Like, are we going to spend more, let's say like to build a brand new low square footage, one one, two, one, two, two.AndrewWhatever set up that is affordable. Is that actually cheaper than retrofitting a I'm just thinking like, what's the last big office I was in like couple of weeks ago? Like there's one bathroom down the hallway. Yeah. And now we need to have plumbing for, Oh, you.JenHave a bathroom?AndrewLike, is that how is it.BethYeah.AndrewEach unit based off of like, All right, the toilets here, we need X amount inches for this. Is this, is this why we need windows? We need what about fire? What about all these other things that are not typical at all for commercial compared to residential? What do we need to change this? I'm like, Oh, to use like what actually actually cost.JenMore land to build those types of things in less in a big city unless you convert.AndrewThat is true, but it's I guess I'm thinking if it's not worth the developer's money to retrofit remix their current vacancies, like they're not willing to invest it themselves, is this even enough money to make it profitable?BethYeah, I think this is like a losing game.AndrewLike the government started money at it and they're spending 300 K for something that will cost 200 K or I'll bring it like it's a negative r y that way, that way that's the reason I was doing it. Maybe. I don't know. I'm sure it's circumstances building to building, it's location to location, but like, oh geez, like should have could have this been a we're actually sending 45 billion to build homes that have to be in this price range.AndrewSo they'll be outside they won't be downtown like I compared us to to the UK. I think I had like 25% vacancy versus 8% in Europe. I've never been to Europe. So hear me out on this neither. But transit and all those things are significantly better and you're closer. So maybe 8% is not because there's anything wrong with our commercial property, but like it's all these other factors that make their vacancy lower.AndrewThey would have been better too. I'm thinking about like some of the products that some of the builders are coming out with that are like six to like 1100 square feet, much smaller. Like how many more homes can they build for that that are truly affordable, That won't be rentals, that will build equity over time for people that are that would be long term renters, and then their lives are actually improved because they're building equity over five, ten years.BethYeah, Yeah. I think.AndrewMaybe they're doing.JenIt depends on them. I think it depends on the market, the town. Yeah, the.AndrewGreed.JenThe vetting like.BethBut yeah, there's a lot of questions that need to be answered to make this truly successful and impactful. So I think that's where it's like, it sounds great.JenSo yeah, like, yeah, I think a.AndrewBig be place a bet on this and be like, okay, what's the you probably walk by Jen when you're in DC, What is the government group that like essentially audits the government itself, you know, like I forget the name of it, but like tenure. So now when this is done, they'll be like, well, we spent 45 billion, 22 billion was fraud because you just apply for this like the, like the payroll tax and loans, like all these people abusing the program.AndrewLike, hmm, this kind of has the potential for that like years of money grab here's this and then the timelines on it. I'm just being so I took the negative approach on this one.JenLike I like it when.AndrewI was in it.JenNo, no, no.AndrewInteresting. Who knows? We'll find out. I don't even know if this is approved or if it's just an idea that they're pushed through. We'll find out. Well, interesting.JenYeah. Push on Friday to.AndrewHelp on a to me, a definite positive is the one from the truth about mortgage dot com. So that's that's a fun site there but there's this lender and which city where they end.JenEssentially they're going out.AndrewThere Yeah and Glenville New York based trust Co bank has come up with a novel concept to get homeowners moving again literally so they're essentially splitting the mortgage rate if you have a 3% rate and then you are approved for 7% for a meeting in the middle and that's your new mortgage rate. So they're trying to get do you have to have the mortgage already with them?AndrewYes, I think you do. So So this is a very limited.BethPool, a very limited group.AndrewYou're trading you're good rate because they don't make any money on it, sort of lower yield, lower return. And they are swapping it for a higher one. They kind of leave out, though, to shoot holes in their data. They didn't talk about the higher cost of the home. So you bought the home at 400 K at 3%. Your new home you want to move up to is now 655 and a half.AndrewSo like, I don't know, big difference. I think if you have to move in you're able to finance with them like this is a great thing.JenBut I like their their image on the the article blowout sale plans. I mean that's that's a fun 20 to 50% off.AndrewI mean yeah, kind of 50% off each in the middle.BethI think it's creative and I think they're kind of taking a page on a builder's, you know, out of our books, know what we're doing. But like you said, it's extremely limited. And I think what it would be more interesting to me if they were able to do that for people who are relocating. So like if a big national team could do this or like people who actually sell their mortgages and you never know who your mortgage is going to because that they talked about that like they actually hold on to their mortgage, they don't sell them all.BethSo like it would have been lovely if we could have maybe sold a house and then gotten a lower rate than what we did because we had to move. We didn't have an option. So I think it's interesting. There's some legs there. I'm curious to see if other people follow suit or if this is if this is just a one and done type scenario, especially.AndrewRegarding like we refiled with rocket mortgage because they were like amazing salespeople, like ten out of ten they cost me like Tinsley is 20, 20, 21. Like we closed in 2021. I was yeah, we bought our home in 28. So we went from like four down to we're one of the people on here that would like, why would we ever get rid of our mortgage right by Rocket has the they came out with a 1% payment plan product which is pretty cool.AndrewAnd then you get a grant. So I like Rocket's approach because then it's for almost anybody. But it'd be interesting if Rocket follow suit because they're the whole nation they have a lot of people like, Hey Andrew, I get an email from them considering moving well we'll meet in the middle. Rates are at seven but you could be at here and that affects a lot of people.AndrewSo I mean.JenI really do. It makes me excited that people are continue going to try to get creative on how to make it more affordable to buy a home like that. And positive.BethDefinitely. And I think from a consumer standpoint, it tells us that, like, things aren't always black and white and they seem like there is some great of things that can occur right behind the scenes that we just aren't used to or don't know about because we're not like well versed in this, which I think ties into the next article.BethThe next why I want my popcorn. It's been a very interesting week in the real estate world.AndrewOh yeah, it's been fun. What's interesting is it's not really mainstream as far as like I call my dad about it. He's an attorney. So I guess first let's talk about what we're talking about. So this is from housing Viacom, although you could go almost anywhere and just type in Missouri and air losses and it pulls up everything.AndrewBut brokers prepare for changes after the Spitzer slash burn it commission lawsuit verdict. Well, that's that's a lot. Who wants to explain this? Probably better than I can.BethThere's two parts of this lawsuit that I think are digestible to people. Right? There we go. There's the one side that is saying like, hey, 6% is isn't a standard. It's not a requirement. Right. But we have been told within the industry and consumers have been told that 6% is the standard and the required amount.JenIt's like the wait, what's that Mandela fact like, where are you just there's been something in existence that you just Yeah.BethLike the chef's.AndrewLike he's like 20% to buy a house. A lot of people think you need to.BethSent down exactly.JenLike this is you don't need to wait this is the standard when that was never really.BethThere's nothing. I mean, down in LA they would have to pay 6%.JenYeah.AndrewOr like even use a real estate agent or realtor the realtors, the registered name with NPR.JenNow, you know, I was a I was a realtor. I worked for a brokerage. Yeah, but that was what was always it's just like that always existed. Like that was the.BethSo everyone believed it to be true. So that's one side. And then the other side, which is the meat of this lawsuit in general, is the fact that sellers were paying buyer agent commissions. So they were essentially their argument was that like we are paying for someone to negotiate against us. And so one of the verdict or one of the plaintiffs I'm sorry, her situation that she laid out was like we said, we're paying 6%.BethRight. But when all was said and done in our actual net, whatever might be our net profit, there we go, our net profits that we made from the sale of our home, it was actually 20% that went to agents commissions, and half of which is, you know, I think that in that instance it might have been actually to specifically the buyer.BethBut it's it's crazy because they were just like that. We shouldn't have to pay like they are choosing to use this realtor. They picked their realtor. The realtor works for them, not for us, and we are paying them. So those two side things, which then, you know, is a domino effect of other lawsuits now are happening and they've already filed another one.BethThe plaintiff attorney has already filed another one. And then you have the things that's happening that we talked about before with like Redfin saying we're not going to pay by our don't commission all the stuff.AndrewOh, yeah. So they're are found guilty of collusion. And there's all these things, you know, collusion being let me have the definition secret or illegal cooperation or conspiracy in order to cheat or deceive others. So that sounds so that's.JenSuch a.AndrewGuilty word, right?JenSo you're like, I'm blowing when you actually stop and think about this for a second, like, yeah, what you were just saying. But as like, if I'm listing my house and I'm paying a 6% fee, yeah, half of that is going to pay for the buyer's agent, which you're right is negotiate is the I'm paying somebody to negotiate against me or like represent somebody else in this transaction like at a lower price I think about.JenYeah, like, that's crazy. But like literally have never I will admit I have never thought about it in that way.BethQuestioned it because it's just been part of the process. Right.JenYeah, I.AndrewThink I think for you're watching like The Sopranos or, or one of those shows and like you put in the accents of these like Italian guys, it's like, Hey, you want to sell your house? Okay, cool, cool, cool. Here's what's going to work. And you put I'm not going to try to mimic the accents, but like the guys coming up to you and he's like, Please do it.AndrewDon't do it. Like, you know, if you like, know not to do it. What's funny is, like Carson, our oldest, his best friend, parents Dad is from Sicily, and as his crazy accent is hilarious, but you, they would be like, Hey, you pay me where it's like 6%, 3%, You know, half of that money. Go to this guy over here.AndrewYou're like, way, way like, I'm paying Like that guy hates me. He's trying to steal my washer and dryer and, like, the appliances and, like, all this other stuff, and they want to take it down $50,000 on the price I'm gonna pay that guy. Yeah. Yeah. That's just how it works. You know, if you don't do it, we're not going to sell your home.AndrewWe're not done talking about your home rather than a list. Your home. Actually, you can't even list your home because you have to put in something on the MLS. I think that's so there's all this evidence that's like, like, supports this collusion and you're like, wow. But the verdict was 1.35 million just for the Missouri case, which was which 100 something thousand homes.AndrewNow, I don't know where this money coming from or who goes to, but that was just Missouri. You should add $2 billion for all the other states. Is there like over $1,000,000,000,000 in like money that could be a verdict potentially? I have no idea. I don't.JenKnow. Pull your power.AndrewPlay popcorn out.BethBut I got my Taylor Swift popcorn yet.AndrewThe notorious robber now at the summit and he talked about this in depth if you want like I think he's the best with following all this in the details. That's great. Robert Hahn Yeah superintelligent he does have I don't say bias because that sounds accusatory, but he is building a product that has the that's like the solution. After all, this settles right.AndrewSo there is you know, there is that there but I still think everything is saying seems very even in it's it's factual and he's referencing links and it's it's really one of the.BethFirst people to really put it out there like.AndrewYeah, he blew it.BethAnd he's been in this supermarket a long time and has worked alongside MLS for a long time. So it's really fascinating.JenTotally.AndrewYeah, it's going to be really interesting. But most people I know about, I touch my I as I started to talk to my dad, he's an attorney.JenAnd.AndrewSo he and I'm like, Have you seen this case? He's like, No, tell me about it. He's like, Hmm.JenI'm going to call some of my interesting my old friends.AndrewLike, how do you feel about this? Of course, realtors, like, like, I just assume they're like, this is garbage. It's, you know, a bunch of what I hope.JenI'm going to find out. I'm going to all my peoples and report back.AndrewFor a change.BethTo need to talk to some of my friends that are realtors. Because, like, it's not that realtors are bad people or sketchy people. If you saw the market, it's a it's just been the it in.JenThe.BethWay exactly It's been like no way. This is the way agents sometimes are working harder than some of the seller agents Oh percent of cases. And so like there are handling a lot of are people.JenAround and see and homes.BethAnd the reality is and the other solution is that it comes out of pocket of the buyer which makes affordability even harder because now they have to pay agent commissions or agent rate that they never had to pay before, would they. And would they.AndrewAnd could they finance that? Yeah, not finance it. It's really like part of it's like the money's never really seen. And I think that's how it's worked for so long. I guess that's how the money comes out of here. And the buyer is like, okay, cool. But if you're like, Hey, for me to buy this home with with you, I negotiate.AndrewHere's here's a value I provide, It's going to be $6,000 and I want you paid initial fee now 2000. And then once we put a contract on home, another 2000, then once we close, that's another 2000. If you don't pay, there's a lean against your home and I could foreclose against you. Right. Wouldn't that be. I think that's how it works.AndrewWouldn't it be like that's my God. It's like if you have a roof, they put it in and you get your home until like the balance is paid or any major house house project. And you go, Well, well, and I have to pay cash. Like I, I have 6000 from a down payment or 16 or 60 like have to take some of that away to pay you.AndrewWhat if I don't use a buyer's agent. Well, like.BethMan.AndrewThat's. Yeah, get the popcorn out. That is definitely the popcorn.BethThis has been a great prop for today's call.AndrewWhat kind of popcorn? By the way, did you make it yourself?BethI'm so with my favorite popcorn, I'm boring. So I did, like. I know. I'm sorry. I'm really boring. I don't like overly butter or, like, overly salty, so like I do. I don't remember which brand it is, but it's like the natural one. Just like natural.JenYeah.BethOriginal or whatever. I don't know. It's a brown box.AndrewI like the purple bag. Which one is that one? Boom chicka pop.BethOh, my. Like if I.JenHad to pick a pop cause.BethIt's not pre pop I popped it.AndrewBoom chick. What is that. What is the popcorn. I need to know. People are like this time.BethYou're right.AndrewYeah. Boom chicka pop and salty kettle kettle corn. It's like four bucks. But once you open the bag and it like the whole thing right there.BethYeah. Especially kettle corn because it could lose its crisp like it's like.AndrewSo it's an air fryer just getting don't do that. Sounds like a terrible idea. Well that's it for the news this week current favorites and or your least favorite what you hate. Hate is a strong word but I really, really really don't like it. Whatever it may be.BethI'm going to be nice today. I'm not going to go negative. I'm going to stay positive.AndrewOkay.BethAnd stay along me eating one second.AndrewThat's a sweet cut, by the way, To the top right there.BethTaylor. Yeah, I got to go with my Taylor Swift Cup. I took my daughter to see it, but yeah, I'm eating all the candy. So we talked today on the on our marketing call, our internal marketing call about how good the Reese's Take five candies are. Like, I'm not a chocolate person. I usually go towards the fruity stuff like a starburst or some Skittles.BethOh yeah. Like those are jam.AndrewPut us together.BethOh lovely. It's like a party, But I am upset. They're like, crack the reasons take five they're so good and I can't stop eating them so well.JenOne of my favorite things was seeing your pictures of your family Halloween costumes. We were on point.AndrewYou were hook. Your family was hook themed.JenWith the pretty legit Think you're.AndrewNext year I need a I'll make them I'll do a theme so.JenAll guys need it yeah Andrew I want to get like.AndrewThat and like, I'll.JenJust address my dogs. I think next year.BethThey were adorable. My kids were like, all in. Like, if you saw the video I post on Instagram, Kellan was like, fighting my like, my name.00:51:34:18 - 00:51:35:23JenWas so cute.BethMike had, like, sweet eyebrow. I drew eyebrows on him. I mean, it was you guys got to check out. Maybe we'll put a picture in.AndrewSo take five, take five. Reese's. I swear I've had one of those. But then they had a while other, like we're putting pretzels in here in the Reese's.JenWe're putting those.AndrewChips in here that will that one's like it's own separate thing versus irises with like one extra ingredient, you know?BethI gotcha. No.JenYeah, Yeah. My favorite thing, I'm going to be that person today. Starbucks has their holiday drinks.BethOh, would you get.JenThe premium mocha? Okay, my favorite holiday. Interesting. So my son brought me one today, and I'm.BethYes, I love Sam.JenI know Sam. And I.AndrewAm.BethI am also super fan of Sam.JenYeah, that's right. Sam dressed up as in Olympia.AndrewThe pictures were awesome. Speak at his builder.BethI did see that picture. That was awesome.AndrewYeah. For the chocolate factory. Let's see my favorite. I'll go. Well, I got two things. One I've been addicted to, so I like energy drinks. There's people that like them and the people that don't like them. Like it's definitely there's no in between. Right. I wish they would make these caffeine free is my wish. I think they're missing out on a market or having like a low calf.00:52:56:20 - 00:53:12:11AndrewThis is only like 160 or 140 milligrams for this one flavor. So here's the thing. I was just thinking about how dumb someone is. That monster. Monster. You're dumb. What flavors as I've been drinking this on the podcast.00:53:12:13 - 00:53:15:06JenIt looks like some kind of great it's part.AndrewWhy is the logo not this way for when I drink it and you see it like what it is? Oh, right. Why are they. Why am I looking at the little bit you see like the nutrition facts and like the warning label do not exceed more than five of these a day or something like that. They Yeah, the purple, the ultraviolet, ten out of ten and anything great flavor has been been great but I'll go the candy theme as far as my true favorite the I think is very very the purple bag of Skittles.JenOmega.AndrewMixed with Starburst. Take a starburst Skittles in the middle, Another stronger together.JenOh, okay.AndrewThat's the party in your mouth right there.BethThat is really good. I know it's weird. Is that Starburst? Starburst came out with their, like, Starburst minis, which are basically like, cut down smaller. They're not good.AndrewThey're not good. It's wrong.BethI don't know. They taste like waxy. I don't know what it is.AndrewThere's less moisture in it, if that's even a word. They're less moist, like they're.JenActually dry. Oh, how I feel about that word.AndrewDon't say that word. That's a word. There's a whole bunch of words. What's it? There's more of these from the summer. So sign up for the fabulous for the summit. If you want to know more about Arctic Words now, there's much more reasons. We'll be in Chicago next year. It will be freezing water. Amazing.BethAnd it's my favorite one.AndrewRight by the being like we're like being out on the river. There's so much good food right there. Remember the popcorn? Like, I know this is like touristy stuff. People from Chicago, Jackie Lipinski is like, Oh my gosh, you people are so embarrassing. It's like, like, I and Key West. But the popcorn, you get them all mixed together, other flavors.AndrewOh, my gosh. It's so good on that.BethI'm starved, Pumped.AndrewI'm pumped. Let's go. And it's October. It's our latest summit, I think, ever. Maybe usually it's like September or October. Okay. We're going back to late.JenLike mid October.AndrewAnd I was in Dallas. In Texas.JenYeah, yeah, Dallas.AndrewSo Chicago. Yeah. It'll be. Yes, I know. Get on that list. Well, let's see that is it for this week. Thank you for listening. Don't forget to become a member for free Converse all access Community app for homebuilders and developers. Watch behind the scenes video from the podcast. Frequent exclusive postings, super exclusive and analysis from the DBC team, access to private hangouts and more.BethSo bye.JenBye.AndrewBye. The post Ep 310: Investing In Integrity appeared first on Online Sales and Marketing for Home Builders - DYC.

Byron Lazine and Nicole White discuss comments on the New York Times's coverage of the Sitzer/Burnett verdict, NAR President Tracy Kasper's message about an appeal, and another lawsuit being filed against the industry—this one by home buyers. Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! Subscribe to the BAM YouTube channel: https://tinyurl.com/aatxhaka Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Nicole White: https://www.instagram.com/nicolewhite.ct/ This episode's sources: https://nowbam.com/nyt-coverage-of-the-sitzer-burnett-verdict-was-the-most-commented-on-article-of-the-day/ https://www.nar.realtor/videos/post-verdict-guidance-from-nar-president-tracy-kasper https://www.housingwire.com/articles/illinois-homebuyers-file-second-commission-lawsuit-and-it-may-be-the-largest-one-yet/ Timestamps: 00:00--01:30 Intro 03:54 Topic #1: Comments on NYT Coverage of the Sitzer/Burnett verdict 13:27 Topic #2: NAR President Tracy Kasper on filing an appeal 20:30 Topic #3: New industry lawsuit filed by home buyers ——— BAM PARTNERS

This week on the podcast Mark and Corey highlight the latest mortgage interest rate drop and breakdown the ramifications of the Sitzer/Burnett verdict.

On today's episode, Editor in Chief Sarah Wheeler talks with Tracey Velt, senior director of data and content, about the next class action commission lawsuit, which targets defendants across the United States for billions of dollars. Related to this episode:Brokers prepare for changes after Sitzer/Burnett commission lawsuit verdictThe latest real estate commission lawsuit is the scariest of them allHousingWire's YouTube ChannelEnjoy the episode!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

It's been a rough week for the real estate industry and in the aftermath of the Sitzer Burnett lawsuit, what does it really mean for everyone in the industry? Tune in to this episode of Industry Relations as Rob and Greg break down NAR's response to the lawsuit. Find out why Rob believes a lot of people will abandon NAR and why Greg feels that this shouldn't be the spark that sets everyone off.     Listen to the Industry Relations Podcast, available on all podcast platforms!   Follow this link to subscribe to Industry Relations YouTube page Listen to the podcast on Apple Listen to the podcast on Spotify Connect with Rob and Greg:  Rob's Website Greg's Website Our Sponsors:  Notorious VIP This podcast is produced by Two Brothers Creative 2023.

Today we're joined by special guest and KW Leader, Stacie States, as we break down the shocking Sitzer | Burnett verdict, discuss the latest $500 Million Zillow acquisition, and look to the future of NAR as CEO Bob Goldberg retires early.

In this episode of "To Live and Buy in Los Angeles" @benbelack and @zachgoldsmith24 deliver breaking news as the Sitzer/Burnett trial concludes with a game-changing verdict. The federal jury's swift decision awards plaintiffs nearly $1.8 billion in damages, a sum that could swell to a colossal $5.4 billion when paid by the National Association of Realtors, Keller Williams, and HomeServices of America. The jury's unanimous decision hinges on questions regarding a conspiracy's existence, its impact on commission fees, and the defendants' involvement. This pivotal case centers on seller's fee payments to buyer's realtors, regulated by the National Association of Realtors' clear cooperation rule, with far-reaching consequences already evident in stock market fluctuations. Stay tuned for the latest developments in this industry-shaking case, as it promises to reshape real estate practices.Connect with Ben and Zach on Social Media:Instagram: https://www.instagram.com/benbelackhttps://www.instagram.com/zachgoldsmith24/Facebook:https://www.facebook.com/benbelackhttps://www.facebook.com/zach.goldsmith.98Twitter:https://twitter.com/benbelackTiktok:https://www.tiktok.com/@benbelackSubscribe to our Youtube Channel:www.youtube.com/benbelack

In this *Emergency Bonus Episode* of the Massive Agent Podcast, Host Dustin Brohm and Byron Lazine, co-Founder of BAM discuss the verdict of the NAR vs Sitzer/Burnett class action lawsuit, Zillow's acquisition of Follow Up Boss, and what this week's news means for real estate agents moving forward. ***********************RESOURCES :Massive Agent Society: my Coaching program for real estate agents that I wish existed when I was starting out as a Realtor. Join the Society HEREWitly: the fully automated Facebook Ad management system for real estate agents and loan officers. Get a 14 day free trial HEREShop my Amazon Store: all the shit I love on Amazon + my Book List for Agents, podcasting equipment, and cool stuff for agents, etcBuzzsprout: Starting a podcast? Host your show with the same platform we use. Affordable, user-friendly podcast hosting for real estate agents - New users get a $20 Amazon Gift CardBamX: get 10% off with the discount code MASSIVE. You still get everything on nowbam.com and all BAM podcasts (like this one) for free. So, check it out, and use MASSIVE to get your discount on an annual subscription. LEAVE A REVIEW on APPLE PODCASTS

In the latest episode of our podcast, "Ep. 205 - Lawsuit, NAR, KW, Zillow and FUBar", hosts Brian Force and Nick Good delve into the captivating developments of the real estate world. They critically examine the aftermath of the Sitzer/Burnett commission lawsuit, highlighting Gary Keller's commendable stance in supporting agents. The episode also explores Zillow's recent acquisition of the real estate CRM, Follow Up Boss. The hosts discuss the potential implications this could have on real estate agents, and the industry as a whole, providing valuable insights for listeners keen on understanding the evolving dynamics of the real estate landscape.The Only Real Estate Podcast Worth Listening to is brought to you by Nick, Good, Matt Kelderman and Brian Force. Combined, they have over 30 years in residential real estate experience and have sold over 2,500 homes. Each week they bring their guidance and insight to help real estate agents all over the world grow their business and thrive in an ultra-competitive industry.New episodes are streamed live on Facebook Wednesdays at 3PM. Check out the links below for more ways to connect and join the fastest growing community of real estate professionals nationwide!Join The Only Real Estate Group Worth Being A Part Of on Facebook https://www.facebook.com/groups/2315035012099695Follow us on Instagram https://www.instagram.com/onlyrepodcast/Check our website for more content, webinars, full show notes, and your favorite TOREPWLT merch! https://onlyrepod.com/Create your own podcast with TORE Studios https://torestudios.com/

Jason Cassity and Lindsey Jo join Captain Dan Oneil and The Broke Agent to discuss the Sitzer/Burnett verdict, breaking news about Bob Goldberg stepping down as NAR CEO, a real estate rap battle, and November 2023 content ideas for real estate agents. Join Byron Lazine for a BAMx Mastermind: "Moving Forward After Class Action Lawsuits" on Friday, November 3rd at 3:00 pm ET / 12:00 pm PT. Sign up for BAMx to get the link, and download the free PDF guide: “11 Point Plan on How To Move Forward in Class Action Aftermath” — https://brokeagentmedia.lpages.co/11-point-plan-for-moving-forward/ Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code WALKTHRU for 10% off your annual subscription. Subscribe to BAM YouTube: https://tinyurl.com/aatxhaka Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Check out BAM: https://nowbam.com/ This episode's sources: https://nowbam.com/whats-next-for-the-real-estate-industry-reactions-to-the-sitzer-burnett-verdict/ https://nowbam.com/the-verdict-is-in-the-sitzer-burnett-jury-awards-plaintiffs-1-785-billion/ Byron's 90-minute breaking news Hot Sheet: https://www.youtube.com/watch?v=rnG-8ZoHT0o Timestamps: 00:00–02:43 Intro 02:43 #1 The Sitzer/Burnett verdict 11:44 Breaking News: Bob Goldberg is stepping down as NAR CEO 18:25 #2—Viral real estate rappers engage in a rap battle 38:07 #3—November 2023 content ideas for agents —-------------------- Connect with Dan Oneil: https://www.instagram.com/danoneil_/ Connect with The Broke Agent: https://www.instagram.com/thebrokeagent/ Connect with Lindsey Jo: https://www.instagram.com/lindseyyy_jo/ Connect with Jason Cassity: https://www.instagram.com/jason_cassity/ -------------------- BAM PARTNERS

On today's podcast, Managing Editor James Kleimann talks with HousingWire's Editor in Chief Sarah Wheeler about the verdict of the Sitzer Burnett buyer broker commission lawsuit trial.Related to this episode:Missouri jury finds Realtors, brokerages guilty of conspiring to inflate commissionsCommission lawsuit coverage on HousingWireHousingWire's YouTube ChannelEnjoy the episode!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

On this special episode of The Real Word, Byron Lazine and Nicole White discuss yesterday's verdict announcement for the Sitzer/Burnett trial, reactions from real estate professionals, what we can expect, and what it means for the real estate industry. Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! Subscribe to the BAM YouTube channel: https://tinyurl.com/aatxhaka Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Nicole White: https://www.instagram.com/nicolewhite.ct/ This episode's sources: https://www.youtube.com/watch?v=rnG-8ZoHT0o (“Breaking News: Sitzer/Burnett Verdict In”) https://nowbam.com/the-verdict-is-in-the-sitzer-burnett-jury-awards-plaintiffs-1-785-billion/ https://nowbam.com/whats-next-for-the-real-estate-industry-reactions-to-the-sitzer-burnett-verdict/ Timestamps: 00:00–00:32 Intro 02:14 “I was shocked with the ultimate decision… ” 02:53 This is the first of what will likely be many trials. 07:16 NAR attorney talked down to the jury 08:21 “Those five witnesses for the plaintiffs, where were their five agents?” 10:22 NAR's pathetic legal defense (and misuse of member dues) 11:06 “Now, you're faced with a national lawsuit.” 12:22 The jury said yes to four out of the five questions. 13:06 NAR reaction to the Sitzer/Burnett verdict 15:05 “Is there any scenario where NAR would consider settling?” 16:21 Byron's 90-minute live coverage (w/ open phone line) 17:41 Clips from yesterday's pre-verdict episode of The Real Word ——— BAM PARTNERS

Commentary by: RJ Pittman Chief Executive Officer Matterport The compensation model for agents in the U.S. real estate industry has shown remarkable stability, maintaining its structure for more than a century. This recent verdict adds to the growing spotlight over US residential real estate commission structures, and underscores the significant evolution unfolding within the sector as digital innovations continue to break down the traditional barriers in the homebuying process. Matterport has long been at the forefront of change, providing 3D virtual tours that empower both buyers and sellers. This technology enhances and streamlines the home buying journey, offering a comprehensive digital experience rich with insights, data, and tools for informed decision-making, surpassing what is typically possible through traditional, in-person engagements. As we navigate these industry changes, Matterport stands as a valuable ally and tool for agents, brokers, buyers and sellers, reinforcing our commitment to fostering an open and mutually beneficial relationship with the real estate industry. This ensures that as the landscape transforms, agents are well-equipped to thrive and continue delivering exceptional value to their clients with the most innovative tools on the market to meet the expectations of today's digital-first home buyers. Buyer demographics are rapidly changing as younger Gen Z and Millennial buyers increasingly drive the market with over $10 trillion in spending power and expect the online purchase experience to be seamless, even for homes. Our data shows: 1. Homes sell 25% faster and buyers spend up to 300% more time on a property listing when it has a 3D tour attached 2. 71% of buyers said they would purchase a home sight unseen if the listing has a 3D tour 3. 82% of sellers would switch to an agent offering 3D tours vs. only 2D photos Matterport's technology ignited the largest generation of home buyers ever, by turning homes and properties into data. Data and insights that provide much more information about a property and deliver greater confidence and transparency to buyers while empowering sellers to drive increased interest to their listings. These buyers and sellers have quickly embraced the 3D tour and new digital property insights as the new standard. It is technologies such as these that are essential for realtors to stay ahead of the changing tide, and deliver more value to clients in the increasingly competitive market for agents and brokers. This stands as a testament to the value of the digital property innovations, and it's a significant factor in Matterport's expanding presence in listings. This is particularly noteworthy given the nearly 15% contraction in U.S. residential real estate transactions over the past year, highlighting Matterport's resilience and the trust that the real estate community places in our solutions. We look forward to helping our partners across the industry navigate the future with a set of industry-leading digital property marketing tools that are now more vital and cost-effective than ever. --- Source: Matterport via Globe Newswire

On this special episode of HousingWire Daily on the Sitzer/Burnett commission lawsuit trial, Editor in Chief Sarah Wheeler talks with Managing Editor James Kleimann about the testimony of some of the defense witnesses, including Dave Stevens, Stefan Swanepoel and Lawrence Wu.Related to this episode:Judge denies HomeServices' motion for mistrial in commission lawsuitHousingWire's YouTube ChannelEnjoy the episode!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

On this special episode of HousingWire Daily on the Sitzer/Burnett trial, Editor in Chief Sarah Wheeler talks with Managing Editor James Kleimann about the cross-examination of key witnesses, including Bob Goldberg, the CEO of NAR.Related to this episode:NAR CEO back on stand for second day of defense testimony in commission lawsuit trialHousingWire's YouTube ChannelEnjoy the episode!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

Curious about the biggest takeaways from the high-stakes Sitzer Burnett lawsuit? Tune into the latest episode of Industry Relations and stay up-to-date with Rob and Greg as they dissect week one of the trial. Hear Rob and Greg's reactions from Gary Keller's testimony, learn about key points in this case, and their insights on what the defense lawyers need to bring to the table.   Get informed and stay up-to-date with this intriguing legal battle!   Listen to the Industry Relations Podcast, available on all podcast platforms!   Follow this link to subscribe to Industry Relations YouTube page Listen to the podcast on Apple Listen to the podcast on Spotify Connect with Rob and Greg:  Rob's Website Greg's Website Our Sponsors:  Notorious VIP This podcast is produced by Two Brothers Creative 2023.

On this special episode of HousingWire Daily on the Sitzer/Burnett trial, Editor in Chief Sarah Wheeler talks with Managing Editor James Kleimann about the closing arguments of the plaintiffs.Related to this episode:Commission lawsuit: HomeServices files motion for judgment as a matter of lawHousingWire's YouTube ChannelEnjoy the episode!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

Byron Lazine and Nicole White discuss Week 1 of the Sitzer/Burnett trial, defendant testimonies for Days 6 and 7 (Week 2), an article criticizing Mike Ferry training scripts, red herrings, and a poll on what a plaintiff victory could mean for buyer agent commissions. Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! Subscribe to the BAM YouTube channel: https://tinyurl.com/aatxhaka Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Nicole White: https://www.instagram.com/nicolewhite.ct/ This episode's sources: https://www.inman.com/2023/10/16/sitzer-burnett-live-updates-from-the-buyer-agent-commission-trial/ https://www.inman.com/2023/10/23/closing-at-all-costs-are-your-training-materials-too-aggressive/ https://nowbam.com/plaintiffs-wrap-up-nar-begins-testimony-day-6-of-sitzer-burnett-trial/ Timestamps: 00:00–00:32 Intro 00:32 Week 2 of Sitzer/Burnett: “Be careful when the rabbit gets the gun.” 06:10 The big takeaway from Week 1 / plaintiff testimony 09:33 What the plaintiffs' attorneys are focusing on regarding the “conspiracy” 10:31 Article on Mike Ferry training materials/scripts 14:21 What will happen to commissions if buyer agents could not receive commission from the listing broker? 16:07 Testimony from Sharon Millett, former NAR president (Monday, Oct 23) 17:18 NAR CEO Bob Goldberg on the stand 19:32 Lack of evidence and red herrings ——— BAM PARTNERS

In today's special edition of RealTrending, we feature Steve Murray, partner with RTC Consulting and a senior advisor to HousingWire. Steve has served as an expert witness on numerous antitrust and other real estate cases over the years. He shares his analysis of the Sitzer Burnett class action commission case based on his years of experience in the industry. Not only that but he highlights the actions real estate brokerage leaders must take today to prepare no matter what the outcome. Related to this episode: Connect with Steve on LinkedIn RTC Consulting HousingWire's YouTube Channel Enjoy the episode! The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

In today's special edition of RealTrending, we feature Steve Murray, partner with RTC Consulting and a senior advisor to HousingWire. Steve has served as an expert witness on numerous antitrust and other real estate cases over the years. He shares his analysis of the Sitzer Burnett class action commission case based on his years of experience in the industry. Not only that but he highlights the actions real estate brokerage leaders must take today to prepare no matter what the outcome. Related to this episode: Connect with Steve on LinkedIn RTC Consulting HousingWire's YouTube Channel Enjoy the episode! The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

Byron Lazine and Nicole White discuss the Sitzer/Burnett trial and jury selection, the opportunity this trial represents for the National Association of Realtors (NAR), a Notorious R.O.B. Tweet, the potential cost of a ruling in favor of the plaintiffs, and a misleading Wall Street Journal editorial. Tell us your thoughts on NAR in this 3-minute survey: https://wss.pollfish.com/link/bd78433b-8053-4afc-bb00-8e92882e6aa5 Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! Subscribe to the BAM YouTube channel: https://tinyurl.com/aatxhaka Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Nicole White: https://www.instagram.com/nicolewhite.ct/ This episode's sources: https://twitter.com/robhahn/status/1714025465705578963 https://www.wsj.com/articles/burnett-v-national-association-of-realtors-home-buyers-sellers-brokers-commission-7e58fda0 https://www.housingwire.com/articles/datadigest-what-happens-if-1-million-real-estate-agents-disappear/ https://www.realestatenews.com/2023/10/16/jury-selection-underway-in-landmark-sitzer-burnett-trial Timestamps: 00:00–00:38 Intro 00:38 The Sitzer/Burnett trial and the WSJ editorial 02:16 Tweet by Notorious R.O.B. – “The fate of the real estate industry…” 04:32 The opinion piece by the Wall Street Journal 08:05 Byron calls out WSJ for the inaccuracies in their editorial 17:34 “If shared commission is banned….” (Keefe Bruyette Woods report) 20:29 This is NAR's last-ditch opportunity to show members extreme value ——— BAM PARTNERS

The National Association of REALTORS® is at trial defending the American MLS model, which is being challenged in two class-action antitrust lawsuits. The first case in Kansas City, Mo., known as Sitzer/Burnett, is happening now. And the outcome could have a lasting impact on the way real estate transactions operate. Host Marki Lemons Ryhal speaks to NAR Chief Legal Officer Katie Johnson to help you get the details you need to know about this important moment for the real estate industry. Get updates on the trial, as well as information on actions you can take to support NAR's position, at competition.realtor.

It's the court case EVERYONE is talking about (isn't it?): The Sitzer/Burnett lawsuit vs NAR, Realogy, Keller Williams, Re/Max and more has received "class action" status. What does this mean?? Is this a nail in the coffin for the Sherman Antitrust case?? ALSO, more banks and mortgage companies are laying off employees... is this a sign of a crash coming? Home prices are still moving up and ARMS are back in style. Join us on the show and give us your opinion!