Crowdstrike IT Outage, Agent Trends, and DOJ's Impact on Commissions | Knowledge Brokers Podcast 078

Byron Lazine and Lisa Chinatti discuss the Consumer Finance Agency’s (CFA) criteria for evaluating homebuyer contract forms, California MLS general counsel Ed Zorn’s strong opinions on real estate forms and commission sharing, surprising news on where agent count is headed, and shared concerns about new agent expectations. 𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription. Join us at BAM Mania! The Must-Attend Real Estate Event Of The Year: https://brokeagentmedia.lpages.co/bam-mania-2024/ 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/ Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Resources: https://nowbam.com/consumer-watchdog-cfa-releases-criteria-for-evaluating-home-buyer-contract-forms/ https://www.inman.com/2024/07/18/ed-zorn-to-the-real-estate-industry-get-rid-of-commission-sharing-now/ https://www.housingwire.com/articles/relitixs-agent-movement-index-reveals-key-trends-in-real-estate-agent-dynamics-through-june-2024/ Timestamps: 00:00–02:36 Intro 03:44 Today’s global technology outage and the growing dependence on AI/tech 05:32 “We all need more backup plans…” (the value of having old school backup solutions) 10:04 Topic #1: CFA criteria for evaluating home buyer contract forms 11:58 Plain language: “I’ve got a question for you on that particular part…” 14:55 It’s not the job of a real estate agent to understand legal jargon… 18:52 The eXp agent toolkit and the cancellation policy in their buyer agreement 21:05 "The agent should continually be earning the business." 24:19 Tom Ferry & the value of a weekly phone call 43:17 Topic 3: The Agent Movement Index (Relitix): agent count is climbing 45:04 “Why do you think it’s going up?” 51:49 Glamorization of real estate on HGTV, etc. ——— 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/ Join the 5AM Call: https://5amcall.com/ ——— BAM delivers real estate news, education, and entertainment with nonstop original content from an unmatchable line-up of industry personalities and top producers. Subscribe to BAM YouTube: https://tinyurl.com/aatxhaka. Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Check out BAM: https://nowbam.com/ ——— BAM PARTNERS 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/ 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://trial.propstreampro.com/bam/ 𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% → https://sisu.grsm.io/bam-pod-partners 𝐒𝐢𝐞𝐫𝐫𝐚 𝐈𝐧𝐭𝐞𝐫𝐚𝐜𝐭𝐢𝐯𝐞: Solutions That Maximize ROI. SEO powered IDX websites and a predictive CRM driven by marketing automations that help you capture, convert and close. Faster. Let's Chat → https://get.sierrainteractive.com/bam ——— #realestateagents #commissions #newagents