Where Real Estate Gets Its Dirt

Industry Relations Podcast: The NAR Settlement Part 2

Did you catch the sparks fly on the last episode of Industry Relations? In case you missed it, last week Rob and Greg got into a verbal fistfight. Made up. Became friends again. And are now ready for round 2. 

Rob and Greg continue their NAR settlement talk, post verbal tussle. Exploring NAR’s $418 million settlement, they talk about the association’s PR challenges, trust issues, and internal rifts. Questioning leadership and missed PR opportunities, they call for urgent reform.

Facing a crucial crossroads, the industry risks becoming a societal scapegoat. Rob and Greg urge immediate action to rebuild trust, improve communication, and navigate public scrutiny. Highlighting the role of leadership in these turbulent times, stressing the need for effective communication.

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

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This podcast is produced by Two Brothers Creative 2024.

Can you modify/add compensation info to an IDX feed, on your own listings?

NEW REW BUYER-COMMISSION WEBSITE FEATURE LIKELY A GAME CHANGER

“We already have a feature that allows them to enhance their listings, add other photos, and do other stuff. So really, I thought to make an extension of that would be pretty easy and add another field that allows them for their own listings only to display the compensation.”

Morgan Carey in an interview with Michael Catarevas of RISMedia

Is this kosher under the new settlement rules? From my understanding if you are receiving a feed from the MLS you can’t have compensation information, even on your own listings. Although, I think this would be hard to enforce.

I believe if you manually entered a listing and added your own compensation that would be cool. But the fact you are receiving a feed from the MLS limits you. Maybe a VOW/BBO feed would be okay? Love to hear from anyone who has a good take on this.

T3 Sixty will not publish 2024 rankings of brokerages

Prudent.

Webinar: The Truth about the NAR Settlement

Rob Hahn, my partner in crime at the Industry Relations podcast is hosting a webinar Tuesday, March 26 from 9 – 10:30am PT, this is “must see tv” in my book. So, fire up the flat screen in your conference room and gather round your senior execs. From his announcement:

“It’s been quite a few days. I’ve been getting absolutely hammered with questions from some of you, plus the media, plus investors, plus plus plus. While I’m happy to answer them, and have as much as I could, I thought it time to just hold a webinar and see if I can do it all in one place and one time.

I’ll go over:

  • What the Settlement Agreement actually says.
  • What it requires of brokers, agents, MLS and Associations.
  • What it likely means for you and the industry.
  • Possible unexpected consequences.

I’ve done webinars like this a couple of times in the past, and thought they were useful.”

The Notorious ROB

Click this link to register = > The Truth About the NAR Settlement

It’s $399, but $200 cheaper if you are a Notorious VIP subscriber. As Rob says, “If you are not a VIP Subscriber, well… you can do the math.”

Support independent creators in our space. Sign up today!

Vendor Alley reader has unique solution to compensation disclosure on MLS systems

“I think I’ve figured out the solution. From now on, the last three digits in the list price represent the basis points the seller is willing to offer a buyer’s agent. $595,250 = 2.5%. It’s elastic from 0% to 9.99% and legal proof. Is the DOJ going to crack down on how sellers price their property? 🤯”

Vendor Alley Reader

The reader only wished to be identified as a “strikingly handsome and incredibly intelligent industry expert.”

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