Byron Lazine, Lisa Chinatti, and Tom Toole discuss Anywhere’s decision to settle the class action lawsuits on buyer agent compensation, the impact of the settlement, the rise in inventory, and the decline in mortgage demand to its lowest level since 1996.
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Timestamps:
00:00–00:37 Intro
00:37 Anywhere settled both buyer commission lawsuits
03:16 “I believe they were all prepared to settle.”
05:27 The impact of the settlement on agent training
08:18 What scripts should knowledge brokers be using when talking to sellers?
14:40 “I would have loved to have seen NAR being a leader…”
16:12 “The vast majority of RE agents, I don’t think they believe in NAR anymore.”
22:14 The focus for [NAR leadership] right now is keeping their jobs.
26:00 What are some of the pivots knowledge brokers should be ready to make?
28:58 This is an opportunity for agents who prioritize relationships & showing their value
34:28 Objections are a gift
35:30 Mortgage demand fell to the lowest level since 1996 & new listings have increased
37:31 “I suspect we’re going to see some really big changes take shape in the next 18-24 mos.”
38:30 “I think we’re going to see a shift in how long consumers own their homes…”
Show Resources:
https://www.housingwire.com/articles/anywhere-real-estate-settles-buyer-broker-commission-lawsuits/
https://www.housingwire.com/articles/how-the-buyer-commission-lawsuits-could-upend-the-relationship-between-agents-and-los/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=1&cx_experienceId=EXZNOASUT0V6#cxrecs_s
https://www.housingwire.com/articles/affordability-slows-home-sales-hints-at-future-home-price-declines/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EXZNOASUT0V6#cxrecs_s
https://x.com/steveharney/status/1698813829327593599?s=46&t=DaXgAjZsy3APMGIs412cjA
https://www.housingwire.com/articles/mortgage-demand-falls-to-lowest-level-since-1996/?cx_testId=24&cx_testVariant=cx_1&cx_artPos=1&cx_experienceId=EXQEK4SQSVBN#cxrecs_s
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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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#buyerscommission #homesellers #realestateagents
