When the National Association of Realtors announced it had proposed to settle a landmark antitrust suit over real estate agent commissions for $418 million, everyone had questions. The Real Deal's  Deconstruct breaks down what is changing — and what is not.

TRD reporters Sheridan Wall and Harrison Connery discuss NAR's new rule prohibiting broker compensation offers on the MLS, or multiple listing service, and what this means for agents and homebuyers going forward. Deconstruct also chatted with Michael Nourmand, who runs Los Angeles-based brokerage Nourmand & Associates, about how he thinks not much is set to change — and noted that commissions have always been negotiable. 

Breaking Down The NAR Settlement

In Deconstruct, The Real Deal breaks down the most important ideas in real estate. We follow the money from Los Angeles to New York City to explain what investors, brokers and developers are focused on right now. This is essential listening for understanding the great, big world of real estate.

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Aleksey Chernobelskiy has many pieces of advice for retail investors writing checks for syndicated real estate deals. But, one of the most important: you could lose it all. As many syndicators — firms that pool equity to buy property — grapple with distress, thanks to rising interes rates, investors have been stuck in the crosshairs trying to determine whether to pump more money into a struggling deal, or walk away. 

Deconstruct chatted with Chernobelskiy about syndicator best practices, what retail investors should know about real estate investing, feeder funds tapping wealth for these deals and what LPs can do if everything goes wrong. 

Dealing with Syndications 101 with LP Adviser Aleksey Chernobelskiy

Last month, Gov. Kathy Hochul passed a bombshell housing deal that extended the 421a tax abatement and introduced a new tax break for apartment projects: 485x. Developer Sam Charney of Charney Companies talks the profit potential of 485x compared to 421a, demand for sites eligible for the extension and when rental construction will ramp back up.

Developer Sam Charney Dissects New York's 421a Extension and New Tax Break on the Block 485x

It's Deconstruct Live! at The Real Deal's New York Forum. Fortress' Steve Stuart, Benefit Street Partners' Mike Comparato and Urban Standard Capital's Seth Weissman talk bank failures, distressed note buying and lending demand in a live taping of Deconstruct.

Deconstruct Live! Talks Bank Failures, Multifamily Fears with Fortress, Benefit Street and Urban Standard

Last week, the U.S. Drug Enforcement Administration said it would move toward reclassifying marijuana as a less dangerous drug — Schedule III instead of Schedule I. The move has big implications for the intersection of cannabis and real estate. Founder and CEO of cannabis REIT NewLake Capital Partners Anthony Coniglio talks tax relief and opportunity for state-licensed operators and capital providers like NewLake.

What Marijuana's Reclassifying Means For Pot Shops and Cannabis Capital

It's not just tax credits. It's not just zoning by right. To make office-to-residential conversion projects work, developers need all of the above, says Bobby Fijan of Philadelphia-based Form Developers. TRD's Deconstruct chatted with Fijan about some of the legislation, policies, subsidies and programs across the country that have helped push these conversions forward. 

Breaking Down The NAR Settlement

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