Forecasting Changes in Real Estate Industry Amid DOJ's Commission Plan

Byron Lazine, Tom Toole, and Lisa Chinatti discuss the DOJ's motion to end cooperative compensation in Massachusetts, Nick Bailey leaving RE/MAX, the challenges facing big brands, the two strongest focal points, where the listing funnel starts, advice for agents in a hard/easy market, and why NOT to sign any long-term non-competes (with short-term benefits).

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https://www.youtube.com/watch?v=86AQUF-zL6g

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Resources:

https://nowbam.com/doj-proposes-an-end-to-seller-paid-commissions-for-buyer-agents/#

https://nowbam.com/nick-bailey-departs-re-max-amy-lessinger-promoted-to-president/

Timestamps:

00:00-00:45 Intro

00:45 Topic: DOJ proposing end to seller commission in Massachusetts

05:30 “Buyer agents need to start thinking about…"

05:30 “Buyer agents need to start thinking about…"

09:26 Conversations between seller & agent

10:17 “Say this gets decoupled…”

12:04 “Shouldn’t the seller be able to sign a waiver…?”

14:52 “Sources are telling me BHHS are going to settle…”

16:35 “Michael Ketchmark said we got as much as we could from them…”

17:54 “If you have 50,000 agents to level up…”

18:49 Topic: Nick Bailey leaving RE/MAX

21:59 Dave Liniger (See NowBAM article for his quote)

23:12 “Do you see one of these big names falling as we move forward?” (& Lisa’s answer)

25:30 “Somebody is not going to make it...”

26:48 Consumers choose agents—not brands.

27:15 How do you attract more leaders to these companies?

30:04 Listing lead generation and/or luxury price points

31:07 The listing funnel starts…

33:00 There’s such a lack of control with buyers right now….

33:22 If you’re in a hard/easy market…

34:19 “My advice here… I wouldn’t be signing any long-term non-competes….”

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Connect with Byron Lazine:

https://www.instagram.com/byronlazine

Connect with Tom Toole:

https://www.instagram.com/tomtoole3rd/

Connect with Lisa Chinatti:

https://www.instagram.com/lisachinatti/

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#remax #buyeragent #DOJ