July 19, 2024

Crowdstrike IT Outage, Agent Trends, and DOJ's Impact on Commissions | Knowledge Brokers Podcast 078

58 minutes

Byron Lazine and Lisa Chinatti discuss the Consumer Finance Agency’s (CFA) criteria for evaluating homebuyer contract forms, California MLS general counsel Ed Zorn’s strong opinions on real estate forms and commission sharing, surprising news on where agent count is headed, and shared concerns about new agent expectations.

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Resources:

https://nowbam.com/consumer-watchdog-cfa-releases-criteria-for-evaluating-home-buyer-contract-forms/

https://www.inman.com/2024/07/18/ed-zorn-to-the-real-estate-industry-get-rid-of-commission-sharing-now/

https://www.housingwire.com/articles/relitixs-agent-movement-index-reveals-key-trends-in-real-estate-agent-dynamics-through-june-2024/

Timestamps:

00:00–02:36 Intro

03:44 Today’s global technology outage and the growing dependence on AI/tech

05:32 “We all need more backup plans…” (the value of having old school backup solutions)

10:04 Topic #1: CFA criteria for evaluating home buyer contract forms

11:58 Plain language: “I’ve got a question for you on that particular part…”

14:55 It’s not the job of a real estate agent to understand legal jargon…

18:52 The eXp agent toolkit and the cancellation policy in their buyer agreement

21:05 "The agent should continually be earning the business."

24:19 Tom Ferry & the value of a weekly phone call

43:17 Topic 3: The Agent Movement Index (Relitix): agent count is climbing

45:04 “Why do you think it’s going up?”

51:49 Glamorization of real estate on HGTV, etc.

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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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#realestateagents #commissions #newagents

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