Ketchmark Issues Warning To Agents Amidst NAR Settlement Changes | The Real Word 331
Byron Lazine and Nicole White discuss Michael Ketchmark’s warning to the real estate industry, the cost of getting creative on the MLS, Nykia Wright’s appointment as permanent CEO of the National Association of REALTORS® (NAR), the Cassina Group's antitrust lawsuit against NAR (filed and withdrawn the same day), and the July 2024 Agent Movement Index report (Relitix).
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This episode's sources:
https://www.inman.com/2024/08/19/mich...
https://nowbam.com/cfa-urges-buyers-a...
https://nowbam.com/the-cost-of-gettin...
https://nowbam.com/nykia-wright-named...
https://nowbam.com/cassina-group-file...
https://relitix.com/agent-movement-in...
Timestamps:
00:00–02:47 Intro
02:47 TOPIC #1: Michael Ketchmark’s warning: “...We’ll be watching you.”
03:59 First Ketchmark quote re: agent training
07:00 Related: “The Cost of Getting Creative on the MLS” (nowbam)
09:12 Follow-up question: “What are you seeing in these webinars and forms that’s concerning?”
09:37 Nicole’s comment on Ketchmark’s “fleecing” remark
10:54 “...This is going to get tested in what is…potentially a buyers market.”
13:00 Related: Consumer Federation of America (CFA) price-fixing recommendations (nowbam)
21:18 Different interpretations of the new rules: “You can no longer use the MLS for…”
22:41 “Your MLS has all the power.”
25:44 Pre-emptive offers of compensation… Ketchmark: “I’m not going to say yes or no.”
28:10 At what point do we put ownership on the seller?
32:00 Ketchmark on the DOJ (“I don’t know…”)
33:23 “If Ketchmark believes Zillow was on top of conspiracy…why not sue Zillow?”
34:47 “I’ve got a take on why. Do you?…” (Byron)
36:30 TOPIC #2: Nykia Wright named as permanent CEO of NAR
37:32 Wright’s podcast interview
38:15 “A true leader is…able to turn a ‘Gotcha’ moment into a win for them…”
40:13 “Why would she answer questions if no one’s holding her accountable…?”
43:19 Related: Cassina Group filed antitrust lawsuit & then withdrew it (BAM article)
44:39 TOPIC #3: Agent Growth Index report (Relatix)
45:27 Relitix chart: “Active Agents–July 2024” (decline in agent numbers)
47:17 Asking new agents, “What’s your ideal schedule look like?”
49:36 Byron’s New Agent Training program (free resource)
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