In this episode of Industry Relations, Rob and Greg break down three major real estate bombshells—the rumored Compass acquisition of Berkshire Hathaway HomeServices (BHHS), the Redfin-Rocket merger, and the potential shake-up of NAR’s Clear Cooperation Policy (CCP). They discuss whether Compass is actually in talks with BHHS or if this is just Wall Street speculation, how Redfin and Rocket could disrupt the brokerage model, and why NAR might be making CCP optional to dodge legal liability.
Key Takeaways
• Compass x BHHS Rumors: Wall Street Journal reported that Compass was acquiring BHHS—but BHHS CEO Gino Blefari strongly denied it. So what’s the truth?
• The Redfin-Rocket Power Move: Why Rocket’s mortgage empire could turn Redfin into Zillow’s biggest competitor—and how Respa exemptions give them an edge.
• NAR’s CCP Shake-Up: Is NAR making CCP optional just to shift legal liability onto MLSs? Rob and Greg debate whether this is NAR’s “race to irrelevance.”
• Does Warren Buffett Want Out of Real Estate?: If BHHS is actually up for sale, what does that say about the future of traditional brokerages?
• How the MLS Landscape Could Change: If MLSs get to decide CCP for themselves, will we see regional MLS battles over compliance and cooperation?
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In this episode of Industry Relations, Rob and Greg tackle three major industry shake-ups: Gary Keller selling a stake in Keller Williams, REX losing its lawsuit against NAR and Zillow, and the launch of a new NAR alternative, AREA, by Mauricio Umansky and Jason Haber. They debate what these moves mean for the future of real estate, the ongoing battle over commission structures, and whether the DOJ’s real target is the MLS monopoly. If you’re looking for sharp analysis with a side of sarcasm, this episode delivers.
Key Takeaways
• Keller Williams Goes Private Equity: Gary Keller sells a stake to Stone Point Capital—what does this mean for KW’s future and private equity’s role in real estate?
• The Death of REX?: REX loses its lawsuit against Zillow and NAR. Was this just a bad case, or is the DOJ preparing to take a bigger swing?
• AREA’s New MLS Policy: Mauricio Umansky and Jason Haber’s new NAR alternative introduces a Clear Collaboration Policy—but is it just a repackaged CCP?
• DOJ’s Real Endgame: Rob argues that the Department of Justice doesn’t care about commission lawsuits—it’s after MLS monopolies.
• The Free Market MLS Debate: Should agents have multiple MLS options? Greg and Rob debate the risks and rewards of breaking up the monopoly.
In this episode of Industry Relations, Rob and Greg dive into the controversy surrounding dual agency, private networks, and the MLS’s role in protecting small brokers. They break down the industry’s long-standing acceptance of brokerage-level dual agency while questioning why teams are getting a pass. Plus, they debate whether Compass’s push to double-end deals is just standard brokerage strategy—or an attempt to reshape the industry. If you want unfiltered takes on where real estate is headed, this episode is for you.
Key Takeaways
• Is Brokerage Dual Agency Bad? Rob argues that the industry has historically supported it—so why the sudden outrage?
• The Compass Controversy: Greg and Rob discuss whether Compass is playing the same game as everyone else or trying to blow up the MLS for its own benefit.
• The Team Dual Agency Dilemma: Should teams be held to a different standard? Rob questions why brokerages get a pass but teams don’t.
• MLS Protection for Small Brokers: Rob suggests the MLS has always been designed to protect smaller brokerages—should that continue?
• The Future of Private Listings: If brokers create exclusive networks, will they face lawsuits—or is that just scare tactics?
You may have recently read that the Phoenix Association of REALTORS (PAR) and the National Association of REALTORS recently came to a settlement regarding PAR controversial “MLS Choice” membership option. As part of the settlement PAR will change the offering’s name to “Non-member MLS access”
“The new “non-member MLS access” offering “will eliminate any further confusion,” according to the statement, and will not give users access to the “Realtor” title. However, the non-member option will still give non-Realtors access to the Arizona Regional Multiple Listing Service (ARMLS), as well as some products and services. Phoenix Realtors has had offerings giving non-Realtors ARMLS access since 1996, according to the statement.”
At our MLS Reset event Rob Hahn gave a presentation which he called “The Quiet Part Out Loud”. In it he posited that if the Phoenix Association or REALTORS (PAR) was successful that other local association would follow suit. I have to admit I really didn’t follow the presentation and it wasn’t until our latest podcast episode that I really understood the strategy behind PAR’s offering. I blame my lack of understanding to the naming convention PAR decided to use, “MLS Choice”. The new naming, “Non-member access” made it even worse. But I’ll come back to that.
Basically as I understand it, due to the the 3 way agreement if someone new joins PAR their membership dues would look like the following:
Phoenix Assn. of REALTORS Dues: $135/yr Arizona Assn. of REALTORS Dues: $175/yr National Assn. of REALTORS Dues: $156/yr
Which is a grand total of $466/yr
Membership to ARMLS would be $468 on top of those dues.
What PAR has done is created a new membership level (see below) that includes a different set of forms (but still passes all the legal smell tests) along with free continuing education classes, FastStats, Supra access and listing media services:
That’s $114 more than a regular PAR membership. Which translates to an 85% increase in revenue to PAR. But here’s the kicker, a current or new PAR member would save, $217/yr if they signed up/switched to the new plan. That’s real money.
Now I apologize to those of you who have read Rob’s posts and seen his presentation and already grokked this, but I was completely gobsmacked once I understood this fact. Here’s what I mean…
PAR is actually promoting not being a part of the Arizona Association of REALTORS and the National Association of REALTORS as a feature, not a bug! 🤯
Let’s assume about 95% of the 10,000 PAR members are on the legacy plan, paying $135/yr. Which is around $1.3M/ yr. If they get 50% to switch to “Non-member access” plan, then their annual revenue will jump to 1.8M/yr. An increase of $500K! That’s almost a 40% increase in revenue.🤯🤯
We’ve all been worried about how associations would survive without revenue from the MLS. And it turns out the answer is to offer a membership plan that doesn’t include State or National membership! 🤯🤯🤯
But here’s the problem. Nobody will understand this if you have names like “MLS Choice” or “Non-member access”. Yuck! 🤮 What do those names even mean?? You need better marketing if you are going to sell a plan like this. You need something sexy, and if you listen to the latest Industry Relations podcast you can hear Rob and I come up with the perfect name for this in real time.
In this episode of Industry Relations, Rob and Greg dive into one of the most heated debates yet—was NAR’s fight for survival a necessary battle, or did it do more harm than good? They analyze the fallout from the settlement, discuss the rise of leaders like Michelle Harrington who are ditching corporate-speak for real talk, and debate whether NAR should have surrendered years ago to avoid the lawsuits entirely.
Key Takeaways
• Michelle Harrington’s Blunt Truths: The First Team CEO calls the settlement “bulls***,” and Rob and Greg love her authenticity.
• Corporate-Speak vs. Real Talk: Why real estate leaders should ditch the PR fluff and embrace straight-shooting communication.
• The $2 Billion Club Controversy: Why independent brokerages feel abandoned and how the settlement exposed them to legal threats.
• Should NAR Have Surrendered in 2018? Rob argues they could have avoided everything if they had just given in earlier. Greg pushes back.
• Zombie Members or Hostages? Rob says NAR fought to protect dues from disengaged agents. Greg insists they were an opportunity, not a liability.
In this episode of Industry Relations, Rob and Greg recap Greg’s recent MLS Reset conference and dive into key industry insights. They discuss governance reform, competition between MLSs, data sharing agreements, and bold ideas for innovation in the real estate world. From pitch battles for tech innovation to thought-provoking commentary on leadership, this episode offers plenty of takeaways for industry professionals.
Key Takeaways
• MLS Reset Conference Recap: Greg shares highlights, including impactful presentations by Brian Boero, Michael Wurzer, and Curt Beardsley, Ben Graboske, who challenged the industry to embrace optimism.
• Governance Reform: Rob emphasizes the importance of reducing board sizes and increasing nimbleness
• Data Sharing and Competition: Rob and Greg debate whether MLSs should compete on services, price, and tech while maintaining data-sharing agreements.
• Source MLS Branding: A conversation on Michael Wurzer’s Source MLS concept as a trusted, transparent data brand.
In this episode of Industry Relations, Rob and Greg navigate the fallout from key legal decisions and the broader implications for the real estate industry. They analyze the Supreme Court’s denial of NAR’s cert petition, its potential effects on DOJ actions, and how shifting dynamics—such as commission lawsuits and housing market pressures—might reshape the landscape. The conversation also previews upcoming events and industry challenges that will define the next chapter of real estate.
Key Takeaways
• Supreme Court Denies NAR’s Petition: What this decision means for DOJ’s antitrust investigations and future legal battles.
• Commission Lawsuits Continue: Why the litigation isn’t over and what could come next, including potential first-time homebuyer class actions.
• DOJ’s Goals: Rob and Greg speculate on what the Department of Justice ultimately wants for the real estate industry, including reducing transaction fees.
• Housing Market Pressures: Rising costs, insurance challenges, and inventory shifts, including their impact on rentals and sales.
• Upcoming Events: The MLS Reset Conference and the first-ever Industry Relations live stream scheduled for February 7th.
In this episode of Industry Relations, Rob and Greg tackle the latest controversies surrounding NAR and the recent investigative article from The New York Times. They debate the role of lobbying, explore accusations of corruption and financial mismanagement, and reflect on the broader challenges facing NAR’s leadership and reputation.
Key Takeaways
• NAR and Lobbying Controversy: Discussion on how NAR funnels money to political groups through entities like the American Property Owners Alliance (APOA).
• The “Woke vs. Conservative” Debate: Examining NAR’s conflicting image as both progressive and a supporter of conservative causes.
• Transparency Issues: Why NAR’s approach to handling controversies feels “astroturfy” and the need for more open dialogue with members.
• Organizing Homeowners: The untapped potential of grassroots homeowner advocacy and how it could reshape lobbying strategies.
• PR Missteps: Criticism of NAR’s traditional PR playbook and a call for leadership to adopt more authentic communication strategies.
