Competition and Changes in Real Estate Industry

This chapter delves into the impact of new competition on the American Association of Realtors and real estate brokers, emphasizing the importance of offering differentiated services to consumers. It discusses the potential benefits of competition, raising licensing standards, and the decline in real estate transactions per agent despite technological advancements.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

Disclaimer: Opinions expressed in this episode and written below are solely opinions of the hosts, guests, and writers and do not reflect the views of BiggerPockets.

The recent NAR lawsuits are paving a new path for real estate agents—one that could change how we buy and sell real estate forever. For the past century, the NAR (National Association of Realtors) has been the controlling association for the American housing market. With most real estate agents in the country being members, the NAR has gone without an alternative for almost the entirety of its existence—but that’s about to change.

Jason Haber and Mauricio Umansky, founders of the new “American Real Estate Association,” have come to give agents something different. To combat outdated fee structures, sexual harassment scandals, and a large bureaucracy, Jason and Mauricio wish to create an association that thrives on collaboration, innovation, and excellence for the best real estate agents so the industry can improve. But what type of changes are they thinking of?

Say goodbye to the “basic brokers,” as Jason and Mauricio lay plans to strengthen the skills of serious real estate agents, create more investor-friendly education opportunities, bolster the ethics of those buying and selling real estate, and bring more diversity and inclusion to the decision-making that often happens behind closed doors. This could be a new era for real estate agents—one where their destiny is in their own hands.

In This Episode We Cover:

Recent NAR lawsuits that could put the trade association in jeopardy

Breaking up the broker “monopoly” by finally giving real estate agents a choice

Agent innovation and why we DON’T need more agents…we need BETTER agents

Agent commissions, costs, and fees that could be changed with the American Real Estate Association

Why women MUST play a more prominent role in the future of the real estate industry

And So Much More!

Links from the Show