Where Real Estate Gets Its Dirt

Listing Bits Episode 88: Does NAR Have Value Beyond MLS Access? – with Michael Lissack of The Virtual Realty Group

The verdict against NAR in the Sitzer lawsuit has organized real estate up in arms.

But Michael Lissack thinks the decision is the best thing to happen to the industry in 100 years.

In fact, he sees the trade association as a criminal enterprise with little value beyond MLS access.

Michael is Managing Broker for The Virtual Realty Group, a 100% commission brokerage that operates in 12 states. 

On this episode of Listing Bits, Michael joins Greg to discuss the real issue behind the lawsuits against NAR and describe what he would do to make buyer’s agent commission negotiable.

Michael explains why it’s necessary to decouple the MLS from NAR membership and how that would likely lead to bankruptcy for the trade association.

Listen in for Michael’s provocative take on why associations don’t deserve a way forward in a world where MLS access is open to anyone with a real estate license.

What’s Discussed:  

The real issue behind the lawsuits against NAR and several real estate brokerages

What Michael would do to make buyer’s agent commission negotiable

Why the DOJ takes issue with mandatory membership in NAR for MLS access

How decoupling the MLS from NAR would impact everyday REALTORS

What decoupling the MLS from NAR membership would do to the trade association (and what NAR might do to demonstrate its value and rebuild)

What it would take to decouple local, state and NAR membership

Why Michael believes a real estate license should be the only requirement for MLS access

Running MLSs as not-for-profit organizations vs. for-profit entities

Greg’s thoughts on providing a way forward for associations by compensating them for the work of building the MLS

Why bankruptcy might be apt for associations who don’t provide value beyond MLS access

Connect with Michael Lissack:

Michael.Travel

Michael on LinkedIn

Resources:

Sitzer v. NAR

Michael’s LinkedIn Post

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  1. I’m getting sick and tired of self-hating real estate agents who have suddenly become experts on every legal matter and business practice under the sun.

    It’s also exhausting to hear some of these real estate agents have a sudden come to Jesus moment about commissions, while all these years profiting from the current system. Should they give the money back if they have such pangs of guilt??

    Just listening to this guy yammer on without taking a breath was tedious. Reminds me that opinions are like assholes. Everybody has one. Yes even me. 😆😆

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