UpstreamRE’s Relationship Status & a16z’s Scathing Review of Real Estate
Release Date: 12/22/2018
NAR’s Continuing Legal Battles
Industry Relations
Not one week goes by without some huge industry news surrounding NAR. In this episode, Rob ang Greg discuss the D.C. Circuit Court of Appeals' reversal in the NAR vs. US lawsuit, paving way for a new probe in the wake of the pending commission lawsuit settlement. Rob and Greg explore the antitrust lawsuit's history, implications of the reversal, and how it aligns with their predictions for the industry and future of NAR. Greg talks about the NAR-DOJ agreement and potential political impacts, while Rob focuses on the long-term effects. The dynamic duo stress on focusing on industry...
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The NAR Settlement Part 2
Industry Relations
Did you catch the sparks fly on the last episode of Industry Relations? In case you missed it, last week Rob and Greg got into a verbal fistfight. Made up. Became friends again. And are now ready for round 2. Rob and Greg continue their NAR settlement talk, post verbal tussle. Exploring NAR's $418 million settlement, they talk about the association's PR challenges, trust issues, and internal rifts. Questioning leadership and missed PR opportunities, they call for urgent reform. Facing a crucial crossroads, the industry risks becoming a societal scapegoat. Rob and Greg urge...
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The NAR Settlement: The Good, the Bad, and the Unknown
Industry Relations
What will the recent NAR settlement mean for the future of real estate, technology, and industry navigation? In this episode of Industry Relations, Rob and Greg discuss the outcomes of the recent NAR settlement. They provide insights on the agreement, exploring their reactions and perspectives on the settlement's details. From provisions to backlash, they discuss public perception, legal frameworks, and implications for agents, brokers, and the market. During the discussion, Rob and Greg also disagree with one another at times, and fight like a married couple. After this episode discussing the...
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A Multi-Million Dollar Settlement: Unpacking NAR's Landmark Deal with the DOJ
Industry Relations
Tune in to this must-listen episode of *Industry Relations* for an incisive breakdown of the NAR's landmark settlement, its ramifications, and the many lingering questions that promise to shape the discourse in real estate circles for years to come. Whether you're a real estate professional, an industry watcher, or just keen on understanding the forces shaping one of the economy's key sectors, this episode is for you. In a pivotal episode of Industry Relations, hosts Rob Hahn and Greg Robertson dive deep into a recent seismic shift within the real estate horizon—The National Association of...
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Is the Real Estate Industry Getting Their Mojo Back?
Industry Relations
What does the future hold for real estate commissions? On this episode of Industry Relations, Rob and Greg discuss the Clarity event and the legal updates regarding real estate commissions. They explore the concept of concessions and the issue of steering in the industry, the need for improved buyer agency agreements and buyer presentations and the defiance of industry professionals and the potential impact of government regulations on real estate commissions. Rob and Greg also cover various topics related to the real estate industry, including the myth of the Australian model, the reality of...
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Does NAR have a competence problem?
Industry Relations
Who bears the brunt of legal defense costs? What financial toll does this uncertainty cast on associations? On this episode of Industry Relations, Rob and Greg dive into the pressing issues faced by the National Association of Realtors (NAR) and its profound impact on local associations, MLSs and brokers. The insurance dilemma that has recently come to light, along with the unclear communication and lack of transparency from NAR is concerning to put it mildly. And the conversation doesn't stop at insurance mishaps. Rob and Greg confront the broader issue plaguing the real estate industry - a...
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DOJ Drops Statement of Interest in the Nosalek Case
Industry Relations
What impact will the Department of Justice's stance on the MLS settlement have on the future of buying and selling houses? In this important episode of "Industry Relations," Rob and Greg talk about a big message from the Department of Justice (DOJ) about the MLS settlement. The DOJ seems to want the court to say no to the settlement. Selling agents might not make as much money as before, and buyers agents might need to show why they're worth their commission more than ever. It's time to start thinking about how we can prepare for change and innovate new approaches in serving buyers and seller....
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Super Bowl Ripples
Industry Relations
ultimate cost warrant the spotlight? On this episode of Industry Relations, Rob and Greg discuss Homes.com's momentous marketing push running an ad during the most watched event in America – the Super Bowl. And its potential ripple effects on industry giants like Zillow. Rob and Greg also revisit the real estate industry's current legal battles. The buzz around the Keller Williams settlement and with consolidation on the horizon, how will ongoing lawsuits reshape the future landscape for real estate professionals? Listen to the Industry Relations Podcast, available on all podcast...
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The FCC’s New Rules on Lead Aggregators & Real Estate
Industry Relations
How will the FCC’s new rules on lead aggregators affect real estate professionals? On this episode of Industry Relations, Rob and Greg talk to Matthew Marx of Evocalize about how to stay compliant while still effectively marketing themselves. One of the biggest changes is that lead aggregators will now be required to obtain consent from consumers before obtaining their personal information. So what do real estate professionals who use lead aggregators need to do? Tune in to find out! Listen to the Industry Relations Podcast, available on all podcast platforms! Connect with...
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Free Advice to AREA: Focus on Professionalism
Industry Relations
Is the real estate industry ready for an alternative to NAR? On this episode of Industry Relations, Rob and Greg talk about the American Real Estate Association, also known as AREA, being positioned as a potential replacement for NAR. As it appears no crisis goes to waste, real estate agents across the country are bracing themselves for what could be the ultimate showdown. It’s the potential battle of the acronyms: NAR versus AREA, NLS versus PLS, and so many more. What lessons can we learn from NAR’s recent struggles, and what do these new organizations mean for the industry? Don’t miss...
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Look into your crystal ball and ask about the future of real estate. A venture capitalist’s vision of the industry eliminates agents entirely in favor of the data a tech company can provide. A number of brokers are hoping to go back to the future and once again serve as the gatekeepers for real estate listings. Meanwhile UpstreamRE can’t seem to get a clear picture of its future at all. Will software ‘eat the real (estate) world’ as the recent a16z video suggests? Will brokerages find a way to regain control of their listings? Will UpstreamRE ever nail down an objective?
Rob and Greg start their review of recent real estate news with a discussion of the humbling Andreessen Horowitz video exposing the obvious flaws in organized real estate. They cover Alex Rampell’s argument against the narrative of agent as ‘trusted advisor’ and his thesis that metrics will eventually replace agents. Rob describes how technology might impact the future number of real estate agents and how much consumers will be willing to pay for guidance from a professional.
Greg shares his frustration with the ‘obvious BS’ surrounding UpstreamRE’s breakup with NAR, offering his take on why the alliance didn’t work and the new narrative around the company’s purpose. Rob and Greg both deliver their predictions regarding who UpstreamRE’s new vendor might be and how MLS providers may view the project’s latest pivot. Listen in for insight into the futility of broker efforts to regain control of listings and learn why UpstreamRE’s new vendor may want to ask for their money up front!
What’s Discussed:
The Andreessen Horowitz video on organized real estate
Alex Rampell’s argument against the ‘trusted advisor’
The prediction that metrics and data will replace agents
Mike Delprete’s insight on loss aversion in transactions
Money and partnerships vs. execution in tech startups
The impact of tech on the number of real estate agents
Why UpstreamRE’s partnership with NAR didn’t work
The new narrative around UpstreamRE’s objectives
Rob & Greg’s predictions re: UpstreamRE’s new vendor
How MLS providers may view UpstreamRE’s latest pivot
The futility of broker efforts to regain control of listings
Resources:
When Software Eats the Real (Estate) World
The Hard Thing About Hard Things: Building a Business When There Are No Easy Answersby Ben Horowitz
Who Is Michael Ovitz?by Michael Ovitz
Mike Delprete on Loss Aversion
New York Times Financial Crisis 2019 Article
The Red Dot
Connect with Rob and Greg: