Implications of NAR Lawsuit Settlement on Brokerages

Byron Lazine and Nicole White discuss the terms of the NAR settlement, the brokerages (and agents) left out, an article by Rob Hahn aka Notorious ROB, and commission lawsuit plaintiffs seeking $4.7 billion from HomeServices of America. 𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! LIVE Knowledge Brokers Panel: The NAR Settlement: What agents need to know: https://www.youtube.com/watch?v=-Qdxi6JJOuM 𝐑𝐞𝐦𝐢𝐧𝐝𝐞𝐫𝐌𝐞𝐝𝐢𝐚: Tired of spending your hard earned money on marketing you know never makes it past the trash can or spam filter? Imagine getting texts and calls thanking you for your marketing. That’s what we do for you → https://remindermedia.com/bamsample/ 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://nowpondering.com/wp-content/uploads/2024/03/nar-settlement-agreement-download-2024-03-15-JThompson-NowPondering.pdf https://notoriousrob.substack.com/p/second-take-nar-settlement-big-brokerages https://www.realestatenews.com/2024/03/18/plaintiffs-seek-whopping-usd4-7-billion-from-homeservices Timestamps: 00:00–01:22 Intro 01:23 Racket #1: NAR’s Terms For Commission Lawsuit Settlement 02:33 This does NOT end all commission-related lawsuits. 07:41 The formula for opting in, with examples from Rob Hahn (Notorious ROB) 09:09 Notorious R.O.B. “Big Brokerage Club”; Compass looking at $570 Million 13:14 Total Settlement is actually $2.24 Billion 13:31 Racket #2: Plaintiffs Seeking $4.7 Billion From Berkshire Hathaway / HomeServices 15:03 Notorious ROB calls the settlement, “Socialism Realtor-style” 16:53 List of some companies involved in NAR’s terms 17:38 Will excluded brokerages seek their own settlement (apart from NAR)? 25:26 Wednesday’s LIVE Knowledge Brokers panel on the NAR settlement ——— BAM PARTNERS 𝐌𝐨𝐬𝐚𝐢𝐤 is everything you need once a lead becomes a client: Collaborative Search. Listing Management. Transaction Management. Forms. Client Retention. Advanced Analytics. Unlock your digital sidekick today. Use code “bam200” for $200 off the one-time implementation fee → https://www.mosaik.io/ 𝐕𝐮𝐥𝐜𝐚𝐧𝟕: The most accurate, powerful, and effective real estate seller lead generation resource to build your business. GET STARTED TODAY → https://www.vulcan7.com/bam/ 𝐕𝐢𝐫𝐭𝐮𝐝𝐞𝐬𝐤: Hire a Virtual Assistant Today! Use code BAM200 for $250 OFF the signup fee → https://myvirtudesk.com/contact?promocode=BAM200 𝐏𝐫𝐨𝐩𝐒𝐭𝐫𝐞𝐚𝐦: The most trusted provider of comprehensive real estate data nationwide. Try it FREE → https://signup.propstream.com/name 𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% → https://sisu.grsm.io/bam-pod-partners ——— #nationalassociationofrealtors #settlement #sitzerburnett