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I have been saying since the settlement that broker-to-broker compensation is a broken model. Tony Nalley of ERA Wilder Realty joins me today to discuss how they moved away from broker-to-broker compensation. Tony tells us why they made the move, how it was rolled out to the agents and how it has been a positive for the brokerage's agents and clients.  

Hopefully, other brokers will hear Tony and ERA's experience and consider making the same move! 

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

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I had the absolute pleasure this year of meeting and getting to know Keon Alrich, the current SC REALTOR President. Keon is finishing her term as President and agreed to sit down with me for an exclusive one-on-one interview to discuss her thoughts on her year of service. We discuss successes, plans, regrets, threats and opportunity. 

Whether you are a REALTOR or not, you don't want to miss the opportunity to hear from one of the thought leaders in the industry.

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

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There is a brand-new study being touted in the industry that discusses the state of your commissions/fees since the Sitzer Burnett settlement.  

The study by the Consumer Policy Center is eye-opening in the omissions and obfuscations made to reach the predetermined conclusion that real estate agents are doing workarounds in order to preserve pre-settlement commission rates.  Oh, the greed that you must possess for wanting to get paid for your work.

The study ignores the new settlement rules in place and places outweighed value on agents trying to maintain status quo instead of following market forces.  

The study also suggests that real estate agents, unlike any other profession, should cut commissions and fees simply because it would be good for the consumer!!!!!   Try to get your doctor to cut his fee because it would be good for you.  What a joke!!

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

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If you are a follower of Dishin' Dirt, you know that I have spent the better part of  the past year and a half telling everyone about the risks that come post-Sitzer Burnett.  Today, I am going to discuss the cancer of dual agency and why 9 states have already outlawed it.  Why is South Carolina not following suit? Are we going to wait for Sitzer 2.0 to do something about it.  

Dual agency is a complete conflict of interest that needs to go on the dishpan of history. 

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

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Why do builders offer a buyer agent incentive? 

It is very simple; to convince you to show their house over the competitors and so you will advocate for the builder when the buyer is choosing between multiple houses.  Congratulations you just described commission steering.  See the problem with that? You are supposed to advocate for your client and not the seller!

These bonuses and agent incentives are a huge problem that could expose you to liability. Listen to learn why builders need to offer buyer incentives and not agent incentives.

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

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I have spent a lot of time lamenting over the destruction of Clear Cooperation.  The biggest threat to CCP is Robert Reffkin, CEO of Compass. With a possible Anywhere merger at hand, many in the industry fear that he will push the policy over all Anywhere brand platforms. 

Today, I have a copy of the advertisement Compass uses to sell clients on the Compass Private Exclusives and boy is it bad. It is pure propaganda that tries to convince a seller to go against what is best for him by promising better offers by limiting the exposure of the house. Pure non-sense.

Come look at the document with me.

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

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Last week all the buzz was the Compass/Anywhere merger.  This week the big news is Zillow and its numerous legal troubles. Zillow has had a terrible month. Multiple lawsuits and now government interaction has marked the many troubles facing Zillow. Today, I examine these cases and discuss how the cases could affect all real estate agents, particularly those who rely on leads.

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

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Huge news in the real estate market!  Compass is buying Anywhere brands.

We will look at the recent merger announcement between Compass and Anywhere with guest Colton Lindsay, a recognized real estate expert from Utah. We will explore the implications of this merger, the debt crisis facing the parties, and the importance of data in shaping the deal. 

Our conversation will also touch on generational changes in the industry, the role of AI, and the challenges of fair housing and market access presented by the merger. 

Colton provides insights on what real estate agents should focus on in this evolving landscape and shares predictions for the future of brokerages.

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

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On September 17, I had the opportunity to record Dishin' Dirt live onstage at SCR's REALTOR Mania. My guest was Jon Waclawski, General Counsel, Senior Vice President for NAR.  We discussed everything from the status of legal cases against NAR, the good and bad of Sitzer/Burnett, Clear Cooperation, In-House Listings, the Three-way agreement, MLS rules and a whole lot more. 

Listen to hear what is going on at NAR in the legal sense. 

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.

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In this abbreviated episode of Dishin' Dirt, I will discuss the other side of the coin in the builder agent debate. I will talk about the fiduciary duty that buyer agents have in a new construction transaction. Quit dropping off your clients and leaving!  Why do I even have to say this.

And then I will shift gears to explain the implications of the new FinCEN reporting requirements and urge agents to stay informed and compliant to protect their licenses and clients.

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Gary

* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.