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In this episode of Dishin' Dirt, I discuss the recent controversies surrounding Private Listing Networks (PLNs) in the real estate industry. I examine the negative implications of PLNs on market transparency and consumer choice, while showing how the PLN primarily serve brokerage interests rather than those of sellers. 

Plus, breaking bad news from Britian that needs addressing immediately. 

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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 episode, I discuss the importance of re-educating sellers in the real estate market, especially in light of recent changes concerning commission and the prevalence of fraud. I emphasize the need for real estate agents to redefine their roles, educate clients about fraud prevention, and effectively communicate compensation structures. The conversation highlights the necessity of updating listing presentations post Sitzer/Burnette to include these critical topics, ensuring that sellers understand the value of their agents and the complexities of real estate transactions.

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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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We can't seem to get out of our own way. We want to continue to do the things that got NAR and your Brokerage sued.  We continue to do workarounds on compensation and try to steer sellers into giving more comp through Broker to Broker compensation. 

We need to change how commissions are handled. Stop doing the workarounds that could lead to legal trouble and understand the implications of steering in real estate transactions. The potential for future lawsuits is real if the industry does not adapt to new regulations and practices.

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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 episode of Dishin' Dirt, I answer the question as to whether or not you can still accept a seller bonus following the Sitzer/Burnett settlement. I will provide insight on the legality and realities of bonuses in real estate transactions, emphasizing the importance of written agreements and the business justification rule for any amendments to compensation agreements. 

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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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Today I discuss the critical topic of agency in real estate, focusing on the interference with agency agreements and its implications for agents and consumers under the law. The conversation centers on the legal obligations of agents, the consequences of interfering with agency during brokerage transitions, and the responsibilities of builder agents. 

Additionally, I give another short update on a new Clear Cooperation Policy proponent and emphasize how CCP in relation to agency laws protect consumers and helps prevent clients from cheating on their agents. 

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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 episode of Dishin' Dirt, I discuss two issues. First, one of the lawyers from Sitzer/Burnette has stated publicly that he is coming for your JV agreements and any brokerage that encourages or compensation agents or brokers for pushing their ancillary products such as mortgage, title and insurance.  It is past time to take heed of this significant risk.

Secondly, I examine the emergence of the American Real Estate Association (AREA) following the Sitzer/Burnett case. I evaluate the potential impact of AREA on the National Association of Realtors (NAR), emphasizing that while AREA may cause some challenges for NAR, it is not a direct threat. 

I also addresses the ongoing issues surrounding broker-to-broker compensation and the need for higher standards in real estate education and accountability. He concludes by advocating for a cooperative relationship between AREA and NAR, provided that both organizations prioritize the interests of real estate agents and consumers.

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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 episode of Dishin' Dirt, Carl Medford and I discuss the current state of the real estate industry, focusing on the contentious issue of "Days on Market" and its implications for transparency and consumer protection. We explore the impact of recent lawsuits, the role of commissions, and the necessity of maintaining clear cooperation policies. The conversation emphasizes the importance of fiduciary duties and the need for integrity in real estate transactions, while also predicting future trends 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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In part 2 of my conversation with Leo Pareja, CEO of eXp Realty, we discuss if the current real estate model is broken beyond repair.  We also discuss Clear Cooperation Policy, broker-to-broker compensation and a lot of other challenges facing agents today. 

Leo shares insights on the challenges faced by agents and the importance of maintaining a cooperative real estate environment to ensure consumer protection and market efficiency. The conversation delves into the impact of recent settlements on the industry and the future of Multiple Listing Services (MLS).

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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 episode, I interview Leo Pareja, CEO of eXp Realty, discussing the current state of the real estate market following significant changes in compensation models and the implications of the Clear Cooperation Policy. 

Leo shares insights on the challenges faced by agents and the importance of maintaining a cooperative real estate environment to ensure consumer protection and market efficiency. The conversation delves into the impact of recent settlements on the industry and the future of Multiple Listing Services (MLS).

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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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PART TWO of my interview James Dwiggins, CEO of Next Home Realty.  We continue this interview looking at the current threats facing real estate agents, the changing role of REALTORs, and the impact of technology on the industry. We will  spend a good part of the show discussing Broker to Broker compensation.  

For last week's episode click here.

https://www.buzzsprout.com/1378912/episodes/16555625

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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.

Don't forget to like us and share us!
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.