Industry Relations

Meltdown: Is the End Near?

Jul 24, 2024

With the August 17th deadline approaching, experts dive into the potential shake-up in real estate associations and compensation models. They discuss buyer agent commissions and the need for agents to demonstrate value in a changing landscape. Frustration brews over NAR's communication with local leaders, while new buyer-agent agreements create tension around upfront negotiations. The importance of innovative leadership and community engagement in real estate shines through, alongside reflections on the sustainability of MLS and associations amidst emerging trends.

50:52

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Quick takeaways

The impending August 17th deadline has triggered widespread concern among agents regarding the future viability and relevance of MLSs and real estate associations.

A notable shift in buyer agent compensation practices indicates a movement away from traditional MLS frameworks, prompting agents to focus on demonstrating their value to clients.

Deep dives

CoreLogic's Impact on Real Estate Agents

CoreLogic provides essential tools for real estate agents to enhance their value to clients. Their platforms, such as the invitation-only client portal, generate billions of listing views and offer advanced features like photo AI search, translating visual aspirations into actual property searches. The Mobile MLS Touch app allows agents to access vital information on-the-go, making it more manageable to serve clients promptly. CoreLogic’s comprehensive support aims to empower agents to adapt to a rapidly evolving real estate landscape.

Intro

2min

Light-hearted Banter and Industry Reflections

2min

Real Estate Associations Under Scrutiny

12min

Concerns in Real Estate Leadership

4min

Shifts in Real Estate Compensation

12min

Navigating Buyer-Agent Agreements

17min

Innovative Leadership and Community Engagement in Real Estate

2min

The August 17th deadline is almost here, and the industry is abuzz with talk of potential changes to MLSs and associations. Rob and Greg discuss the latest developments in the NAR settlement with the DOJ and its potential impact on compensation models, forms, and client relationships. With disruption looming, they delve into the hot topic of buyer agent commissions and agreements, as well as how to continue demonstrating value to clients in this ever-changing landscape.

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This podcast is produced by Two Brothers Creative 2024.