The Real Word

On this special episode of The Real Word, Byron Lazine and Nicole White discuss yesterday’s verdict announcement for the Sitzer/Burnett trial, reactions from real estate professionals, what we can expect, and what it means for the real estate industry. Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! 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://www.youtube.com/watch?v=rnG-8ZoHT0o (“Breaking News: Sitzer/Burnett Verdict In”) https://nowbam.com/the-verdict-is-in-the-sitzer-burnett-jury-awards-plaintiffs-1-785-billion/ https://nowbam.com/whats-next-for-the-real-estate-industry-reactions-to-the-sitzer-burnett-verdict/ Timestamps: 00:00–00:32 Intro 02:14 “I was shocked with the ultimate decision… ” 02:53 This is the first of what will likely be many trials. 07:16 NAR attorney talked down to the jury 08:21 “Those five witnesses for the plaintiffs, where were their five agents?” 10:22 NAR’s pathetic legal defense (and misuse of member dues) 11:06 “Now, you’re faced with a national lawsuit.” 12:22 The jury said yes to four out of the five questions. 13:06 NAR reaction to the Sitzer/Burnett verdict 15:05 “Is there any scenario where NAR would consider settling?” 16:21 Byron’s 90-minute live coverage (w/ open phone line) 17:41 Clips from yesterday’s pre-verdict episode of The Real Word ——— BAM PARTNERS 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 ——— #nar #commissionlawsuit #nationalassociationofrealtors

Byron Lazine and Nicole White discuss Week 1 of the Sitzer/Burnett trial, defendant testimonies for Days 6 and 7 (Week 2), an article criticizing Mike Ferry training scripts, red herrings, and a poll on what a plaintiff victory could mean for buyer agent commissions. Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! 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://www.inman.com/2023/10/16/sitzer-burnett-live-updates-from-the-buyer-agent-commission-trial/ https://www.inman.com/2023/10/23/closing-at-all-costs-are-your-training-materials-too-aggressive/ https://nowbam.com/plaintiffs-wrap-up-nar-begins-testimony-day-6-of-sitzer-burnett-trial/ Timestamps: 00:00–00:32 Intro 00:32 Week 2 of Sitzer/Burnett: “Be careful when the rabbit gets the gun.” 06:10 The big takeaway from Week 1 / plaintiff testimony 09:33 What the plaintiffs’ attorneys are focusing on regarding the “conspiracy” 10:31 Article on Mike Ferry training materials/scripts 14:21 What will happen to commissions if buyer agents could not receive commission from the listing broker? 16:07 Testimony from Sharon Millett, former NAR president (Monday, Oct 23) 17:18 NAR CEO Bob Goldberg on the stand 19:32 Lack of evidence and red herrings ——— BAM PARTNERS 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 ——— #nar #agentcommission #nationalassociationofrealtors

Byron Lazine and Nicole White discuss the Sitzer/Burnett trial and jury selection, the opportunity this trial represents for the National Association of Realtors (NAR), a Notorious R.O.B. Tweet, the potential cost of a ruling in favor of the plaintiffs, and a misleading Wall Street Journal editorial. Tell us your thoughts on NAR in this 3-minute survey: https://wss.pollfish.com/link/bd78433b-8053-4afc-bb00-8e92882e6aa5 Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! 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://twitter.com/robhahn/status/1714025465705578963 https://www.wsj.com/articles/burnett-v-national-association-of-realtors-home-buyers-sellers-brokers-commission-7e58fda0 https://www.housingwire.com/articles/datadigest-what-happens-if-1-million-real-estate-agents-disappear/ https://www.realestatenews.com/2023/10/16/jury-selection-underway-in-landmark-sitzer-burnett-trial Timestamps: 00:00–00:38 Intro 00:38 The Sitzer/Burnett trial and the WSJ editorial 02:16 Tweet by Notorious R.O.B. – “The fate of the real estate industry…” 04:32 The opinion piece by the Wall Street Journal 08:05 Byron calls out WSJ for the inaccuracies in their editorial 17:34 “If shared commission is banned….” (Keefe Bruyette Woods report) 20:29 This is NAR’s last-ditch opportunity to show members extreme value ——— BAM PARTNERS 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 ——— #nationalassociationofrealtors #narlawsuit #nar

Byron Lazine and Nicole White discuss the terms of the Anywhere and RE/Max settlements, NAR’s reversal on zero-percent buyer agent commission, NAR membership in the next 12–24 months, and what it will mean for businesses that depend on NAR’s chokehold on the industry. Tell us your thoughts on NAR in this 3-minute survey: https://wss.pollfish.com/link/bd78433b-8053-4afc-bb00-8e92882e6aa5 Join us for tomorrow’s Business Planning webinar (Wednesday, October 11 at 3 pm ET): https://us02web.zoom.us/webinar/register/4516964490807/WN_Fr2WbVsORESwOY4-LUGrZA#/registration Last week’s pod: https://www.youtube.com/watch?v=tmNv9i05IeY Episode with Rob Hahn aka “Notorious R.O.B.”: https://www.youtube.com/watch?v=SDI7SZctMUg Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! 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://nowbam.com/details-from-anywhere-and-re-max-settlements-no-nar-membership-needed/ https://nowbam.com/nar-changes-its-stance-and-allows-listings-with-0-buyer-commission/ https://nowbam.com/redfin-announces-it-is-leaving-nar/ Timestamps: 00:00–00:40 Intro 00:40 Recap of last week’s episode: Redfin & NAR news 02:38 NAR flip-flop—now allowing 0%/$0 buyer agent compensation 03:40 Here’s what NAR is failing at 04:56 The terms of Anywhere--RE/Max settlements 12:58 Byron’s projection on NAR membership over the next 12–24 months 14:01 “NAR has yet to show their value” – Take the survey linked below 15:14 Extreme disruption in businesses tied to NAR 18:13 “Is this an admission of wrongdoing in any way?” 23:31 “It’s really all about transparency.” ——— BAM PARTNERS 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 ——— #nationalassociationofrealtors #remax #nar

Byron Lazine and Nicole White discuss Redfin CEO Glenn Kelman’s statement announcing the company’s decision to leave NAR, the reasons behind this move, Zillow’s all-in support of NAR, Realtor.com’s stance, and some interesting comments on the @nowbam Instagram. Watch episode #289 with Rob Hahn aka Notorious R.O.B.: https://www.youtube.com/watch?v=SDI7SZctMUg Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! 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://nowbam.com/redfin-announces-it-is-leaving-nar/ Timestamps: 00:00–02:04 Intro 02:04 Redfin is leaving NAR 02:41 Reason #1—NAR’s required fee for buyer comp in every listing 04:04 Reason #2—NAR’s “pattern of sexual harassment” 05:14 Meanwhile, Zillow has been doubling down on their support of NAR 08:12 Byron’s and Nicole’s takes on Redfin’s decision and its overall impact 10:27 Comments on the @nowbam Instagram ——— BAM PARTNERS 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 ——— #redfin #nationalassociationofrealtors #nar

Byron Lazine and Nicole White discuss an anonymous letter from NAR staff sent to NAR leadership with a list of demands—and Tracey Kasper’s response---as well as NAR's removal from the Great Place to Work list. Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! FUBCON 2023: Use promo code “bam_vip30” for 30% off your first ticket. Each additional ticket is 55% off, so buy for your friends who are also looking to scale next year! → https://www.fubcon.com/ 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://nowbam.com/anonymous-group-of-nar-staff-sends-list-of-demands-to-nar-leadership/ https://nowbam.com/nar-removed-from-great-place-to-work-list/ Timestamps: 00:00–00:40 Intro 00:40 Anonymous group of NAR staff sends letter with demands to NAR leadership 05:36 The list of demands 09:35 Tracey Kasper’s response 10:21 “What I don’t like… “ 13:28 An anonymous email survey at BAM Camp (for BAM Camp 2024) ——— BAM PARTNERS 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 ——— #nationalassociationofrealtors #nar #realestatenews

Notorious R.O.B. joins Byron Lazine and Nicole White to discuss two Realtor association scandals, the possible impact of the Anywhere and RE/MAX settlements on the industry, the NAR membership requirement, and the possibility of buyer commission financing by the FHFA. Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! FUBCON 2023: Use promo code “bam_vip30” for 30% off your first ticket. Each additional ticket is 55% off, so buy for your friends who are also looking to scale next year! → https://www.fubcon.com/ 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/ Connect with Notorious R.O.B.: —Substack: https://notoriousrob.substack.com/ —Instagram: https://www.instagram.com/notorious_rob_blog/ —Twitter: https://twitter.com/robhahn?lang=en —YouTube: https://youtube.com/channel/UCvkcWxxBT9q0HXOMtZuTeHQ This episode's sources: https://notoriousrob.substack.com/p/revealed-priorities-of-realtor-politics Industry Relations Podcast: https://www.youtube.com/watch?v=NtK8ILGY5uw&t=0s Timestamps: 00:00–02:02 Intro & welcome to Notorious R.O.B. 02:02 Starting with Byron’s “arena” comment 10:10 Press attention for NAR’s sexual harassment scandal vs SDAR corruption 13:58 SDAR corruption for 10 years and its impact on other corporate leaders 18:53 Kenny Parcell vs. SDAR board members (who are still employed) 22:09 "If you want to be a CT Realtor, you have to be in NAR; is that not a tie-in agreement?" 24:24 “I think the MLS and the Realtor association need to get divorced….” 25:21 Roughly 70% of Realtors joined the association just to get MLS access. 27:13 Will settlements nix the NAR membership requirement for Anywhere & RE/MAX agents? 2925 Could there be a new association to replace NAR? 32:31 Do we believe this is sexual harassment…? 37:57 If Kenny Parcell was innocent, wouldn’t he be fighting to prove his innocence? 41:39 Why is Kenny Parcell described as a volunteer when he was making $300K/year? 43:33 Will FHFA finance buyer commissions? “My one thing about that….” 46:47 “I would argue that it might be better for agents if that were not the case….” 49:38 “Every settlement like this creates more incentive for copycat lawsuits.” ——— BAM PARTNERS 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 ——— #nationalassociationofrealtors #realestatenews #realestatepodcast

Byron Lazine and Nicole White discuss the video put out by NAR president Tracey Kasper, a lawyer letter on NAR’s internal harassment probe, a new committee for NAR members to pay for, and a YouTube podcast video by next week’s TRW guest, Notorious Rob. Join us at BAM Camp on September 20th for an unforgettable all-day event in Naples, Florida! https://brokeagentmedia.lpages.co/bam-camp/ Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! FUBCON 2023: Use promo code “bam_vip30” for 30% off your first ticket. Each additional ticket is 55% off, so buy for your friends who are also looking to scale next year! → https://www.fubcon.com/ 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: Website: https://byronlazine.com Instagram: https://www.instagram.com/byronlazine Connect with Nicole White: https://www.instagram.com/nicolewhite.ct/ This episode's source: https://www.nar.realtor/magazine/real-estate-news/tracy-kasper-realtors-are-hurting-but-we-have-hope https://www.inman.com/2023/09/08/lawyers-letter-offers-glimpse-into-nars-internal-harassment-probe/ https://www.youtube.com/watch?v=NtK8ILGY5uw Timestamps: 00:00–00:32 Intro 00:32 Next week’s TRW guest: Notorious R.O.B. 03:47 NAR President’s call to action video 04:39 Video: A Message from NAR President Tracey Kasper 06:36 “We totally should have turned that into a drinking game….” 08:43 “NAR is trying to put the pacifier in your mouth…” 09:15 “If you want to be authentic….” (Dos and don’ts) 10:11 Number one: outside experts — “They’ve already done and they swept it under the rug.” 12:02 “Number two, they’re going to re-evaluate how leaders are selected.” 13:43 Another committee for NAR members to pay for 15:43 NAR hasn’t been challenged. 24:20 Notorious R.O.B.’s podcast—and his viewpoint on NAR’s sexual harassment scandal Notorious R.O.B.’s podcast: https://www.youtube.com/watch?v=NtK8ILGY5uw ——— BAM PARTNERS 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 ——— #nationalassociationofrealtors #traceykasper #nar

Byron Lazine and Nicole White discuss NAR's continuing support of its CEO Bob Goldberg, the Accountability Project, a blog on the priorities of Realtor politics—and why it strikes the wrong note—and the case for optional NAR membership. Join us at BAM Camp on September 20th for an unforgettable all-day event in Naples, Florida! https://brokeagentmedia.lpages.co/bam-camp/ BAMx – Become a better agent: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! 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: Website: https://byronlazine.com Instagram: https://www.instagram.com/byronlazine Connect with Nicole White: https://www.instagram.com/nicolewhite.ct/ This episode's source: https://nowbam.com/nar-stands-behind-ceo-bob-goldberg/ https://nowbam.com/nar-accountability-project-agents-driving-industry-reform/ https://notoriousrob.substack.com/p/revealed-priorities-of-realtor-politics?utm_medium=web Timestamps: 00:00–00:56 Intro 00:56 #1 NAR stands behind CEO Bob Goldberg 02:40 NAR’s new president, Tracey Kasper, is part of the club 04:31 Jason Haber’s Change.org petition and the Accountability Project 06:53 Tracey Kasper’s statement (“These are all just words.”) 07:45 Only nine of the complaints were about Parcell. “Who are the other ten for?” 08:12 Rob Hahn: “Revealed priorities of Realtor politics” 19:40 “1.5 million members would be cut in half if….” 22:46 Byron’s take on Rob’s blog — “What fires me up….” 23:11 Nicole’s take — “It’s like talking shit about another agent to make yourself look better.” ——— BAM PARTNERS 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 ——— #bobgoldberg #nationalassociationofrealtors #kennyparcell

Byron Lazine and Nicole White discuss the New York Times exposé of NAR president Kenny Parcell, his subsequent resignation, and the response of the real estate industry. Join us at BAM Camp! Sign up now for early bird pricing, which ends at midnight (12 am ET 8/16) https://brokeagentmedia.lpages.co/bam-camp/ BAMx – Become a better agent: https://bamx.uscreen.io/pages/subscribe Use discount code REALWORD for 10% off your annual subscription! 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: Website: https://byronlazine.com Instagram: https://www.instagram.com/byronlazine Connect with Nicole White: https://www.instagram.com/nicolewhite.ct/ This episode's source: https://nowbam.com/nar-accused-of-sexual-harassment-discrimination-and-intimidation/ Timestamps: 00:00–00:37 Intro 00:37 NAR president resigns after multiple accusations 02:00 The New York Times exposé (with 29 women recounting their experiences) 11:16 Comments on the NY Times article & Parcell’s resignation statement 20:49 NAR marketing spend 21:51 Is NAR a Ponzi scheme? 23:57 Paying million$ for tone-deaf marketing 25:04 “We deserve betteR” — where those dues should be going 28:40 “We deserve betteR” merch & the BAM merch store soft-launch ——— BAM PARTNERS 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 ——— #nationalassociationofrealtors #kennyparcell #realestatenews