Patrick Bet-David's Wild Thoughts On NAR Settlement | Knowledge Brokers Podcast 064
Byron Lazine and Lisa Chinatti discuss clips from the All In Podcast and Patrick Bet-David Podcast on the NAR settlementโincluding what it takes to be a trusted advisor, why specialization will be ramped up 100x, three bullet points for agent-client conversations, the "forced into 6%" narrative, and why the gap between the haves and have-nots is going to get wider.
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Resources:
https://fortune.com/2024/04/03/homebuyers-real-estate-agent-broker-why-national-association-of-realtors-settlement-commissions/
https://nowbam.com/85-of-all-sellers-report-a-high-level-of-service-from-their-agent/
Timestamps:
00:00โ01:27 Intro
01:27 Two clips from other podcasts discussing the NAR settlement
08:11 Takeaways & reactions to the first clip
10:43 โIf thatโs what he thinks real estate agents do for himโฆโ (Lisa)
11:50 โConsumers want a trusted advisor.โ
13:40 โOn the fixed pricingโฆโ
17:23 โI think 12 months from todayโฆโ (inventory)
19:01 โThereโs a reason contracts are blank.โ
20:07 More from the All In Podcast: dual agency, negotiating a fee, buyer agents
25:52 Byron and Lisa break it down
27:30 The haves & have-nots: the gap is going to get wider.
28:03 Byron and Lisa comment on Friedbergโs perception of what agents do
32:57 Clip of the Patrick Bet-David Podcast
43:02 The โforced into 6%โ narrative
46:24 Being a trusted advisor requires skill as a salesperson
48:28 Byron on the importance of working out commission & pricing ahead of time (and not being penny-wise and pound-foolish)
52:27 The opportunity for agents (big takeaway from the clips)
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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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#realestatepodcast #narsettlement #commissions
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