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Rob and Greg dive into the major industry shake-up: Compass acquiring Anywhere. They discuss the financial implications, consolidation trends, the future of MLS rules, and what the move means for private listings, brokerages, and consumers. The conversation also covers how competitors like Zillow, Keller Williams, and eXp might respond.

Key Takeaways

• Compass acquires Anywhere in an all-stock deal valued at $1.6B, assuming $2.6B in debt.

• Combined, Compass and Anywhere account for roughly one-third of U.S. real estate transaction volume and one in six agents.

• Discussion on antitrust concerns and whether regulators will intervene.

• Compass’s acquisition could accelerate industry consolidation, making scale critical for brokerages.

• Anywhere’s conservative approach historically shaped industry standards; the acquisition may shift how private listings are treated.

• Debate over whether consumers really want private/exclusive listings and how MLS enforcement may change.

• Predictions that other brokerages will roll out private listing programs to compete.

• Speculation on how Zillow and large MLSs will respond to these shifts.

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The Industry Relations Podcast is now available on your favorite podcast player!

In this episode, Rob and Greg discuss the recent assassination of Charlie Kirk and its impact on the nation and the real estate industry. They reflect on the cultural divide, responses from industry leaders, and the broader implications for civil discourse within real estate and beyond.

Key Takeaways

• Rob and Greg acknowledge the tragedy and its personal and national impact.

• The event highlights concerns about the erosion of civil debate and the celebration of violence.

• Industry responses are contrasted with prior public statements (e.g., George Floyd), raising questions of consistency and communication.

• Discussion on free speech, leadership accountability, and the role of professional organizations in addressing hate.

• Broader reflections on polarization in America and hopes for reducing harmful rhetoric across divides.

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The Industry Relations Podcast is now available on your favorite podcast player!

Rob and Greg tackle the pressing issue of housing affordability, reacting to reports that the Trump administration may declare a national housing emergency. They debate potential federal approaches, including deregulation, incentives, zoning reform, and changes to mortgage lending. The conversation also shifts to Zillow’s enforcement against exclusive listings and what the data may actually reveal about Compass’s inventory.

Key Takeaways

• Reports suggest the Trump administration is considering declaring a national housing emergency.

• Federal action is constrained by state and local control, but incentives and funding leverage could encourage zoning reform.

• Deregulation, such as loosening zoning restrictions and NIMBY barriers, could expand housing supply.

• Debate over mortgage financing: Rob argues government backing of 30-year fixed mortgages inflates housing prices, while Greg stresses the social good of homeownership.

• Alternative idea: shift federal guarantees from mortgages to construction loans to directly increase housing supply.

• Tax and regulatory approaches could curb institutional investors buying homes for rentals.

• Discussion of Mike DelPrete’s analysis of Compass’s exclusive inventory trends after Zillow’s policy enforcement.

• Conflicting views: Rob sees it as evidence Zillow lost influence; Greg suggests it may simply reflect stale inventory.

Links

Exclusive Inventory Update and Zillow's Catch-22

 

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In this episode, Rob and Greg dive into the balance between technology and human connection in real estate. From car tech frustrations to the rise of “dumb phones,” they discuss how AI and digital tools are reshaping the industry—and whether that’s always a good thing. The conversation explores where technology truly adds value versus where it risks eroding the personal relationships that define real estate. They also touch on Opendoor’s evolving agent strategy and the broader AI hype cycle in business.

Key Takeaways

• Tech minimalism is gaining traction as people push back against screens and automation in everyday life .

• Real estate may benefit more from authentic human connections than from full automation.

• AI is both transformative and overhyped—efficiency gains often come with trade-offs.

• Tools like DocuSign provide convenience but may reduce valuable informal interactions.

• Opendoor’s new “Key Connections” program shows a shift in how it integrates agents from the start.

• The industry should focus less on “AI supremacy” and more on thoughtful application of technology.

 

 

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Rob and Greg dive into the latest developments in the real estate industry, including Andrea’s move to Real Estate News, Anne Marie’s push for MLS independence, and ongoing debates around realtor commissions and compliance. They also examine a new lawsuit challenging enforcement of buyer representation agreements and revisit the idea of sub-agency as a potential solution to persistent steering problems.

Key Takeaways

• Andrea at Real Estate News: Andrea joins Real Estate News, raising hopes for stronger investigative journalism in the industry.

• MLS Independence: Anne Marie’s upcoming retirement sparks discussion on MLS separation from associations and questions of ownership structure.

• Realtor Commissions Rising: Despite reforms, commissions are reportedly up, prompting concerns over steering and transparency.

• ZEA v. NAR Lawsuit: A self-represented broker challenges MLSs and NAR over lack of enforcement of buyer agreements, potentially opening the door for class action.

• Compliance Issues: Evidence suggests weak enforcement of mandatory buyer agreements and ongoing loopholes in rules.

• Return to Sub-Agency? Rob argues a shift back to sub-agency could simplify compensation and cooperation while reducing steering conflicts.

• Future Uncertainty: Regulatory or legislative changes may be required to address systemic problems that lawsuits alone cannot solve.

 

Links

Real Estate News Article

 

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Rob and Greg dive into the shakeup at Opendoor after CEO Carrie Wheeler’s resignation. They break down the role activist investors and meme stock energy played, and debate whether iBuying still has a future. The conversation turns into advice for Opendoor’s new leadership, touching on strategy, agent relations, and branding.

Key Takeaways

• Carrie Wheeler resigns as Opendoor CEO amid activist investor pressure and retail investor hype.

• Debate over whether iBuying is viable long-term, given seller expectations and buyer demands for turnkey homes.

• Criticism that Opendoor and Zillow acted like house flippers instead of true market makers.

• Suggested strategies for Opendoor:

  • Sell homes “as is” rather than renovating.

  • Continue offering full buyer agent compensation.

  • Build out an exclusive “coming soon” marketplace for discounted listings.

  • Rebrand messaging closer to “we buy ugly houses” but focused on hassle-free transactions.

  • Explore seller financing to simplify closings and create new revenue streams.

 

Links

Cloud CMA iBuyer Connect

Revisiting Opendoor: So many words

The Quik Fix

 

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Rob and Greg welcome Coleton Boyer from OnTuesday.com for a spirited debate on whether AI will truly disrupt the real estate industry. They explore AI’s potential to improve lead generation, client service, and agent efficiency, while questioning if these benefits will actually level the playing field or further concentrate market share among top agents. The conversation touches on ethics, the human element in client relationships, and how AI could reshape industry business models and pricing structures.

Key Takeaways

• AI in Real Estate: Potential for personalized marketing at scale, faster client responses, and improved efficiency.

• Lead Generation: AI could enable unique, data-driven outreach, though ethics and authenticity are debated.

• Client Service: Tools can parse documents instantly, freeing agents to focus on relationships and strategy.

• Democratization vs. Consolidation: Debate over whether AI empowers new agents or strengthens established ones.

• Business Model Impact: Shift from “butts in seats” to usage-based or outcome-based pricing likely.

• Industry Stickiness: Despite technological changes, the human connection and trust factor remain central to real estate.

 

Links:

ontuesday.com

 

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In this episode, Rob and Greg recap Inman Connect San Diego, discuss the current state of the real estate industry, and explore the hype and utility of AI in real estate. They cover industry gossip, shifting executive roles, macroeconomic forecasts, and heated disagreements on whether AI truly enhances the client experience.

Key Takeaways

• Inman Connect Recap Greg shares his experience from Inman Connect, including a pre-party at his studio and the CEO Connect session.

• NAR Membership Projections Kevin Sears (NAR President) revealed current membership is ~65,000 above projections at 1.4M; however, NAR is budgeting for 1.2M members in 2026.

• Agent Churn Annual agent churn is approximately 20%, meaning roughly all members cycle every five years.

• CoStar vs. Zillow Lawsuit The buzz at CEO Connect centered around CoStar suing Zillow over image copyrights. Rob believes CoStar has a solid strategy involving strategic acquisitions to bolster legal claims.

• Executive Moves Chris Heller moved his team to eXp; York Baur (formerly of MoxiWorks) joined Lone Wolf—highlighting industry consolidation and competition.

• AI in Real Estate Greg sees promise in AI for marketing content, lead gen, and operations. Rob remains skeptical of AI’s impact on client experience, arguing that service still relies on human interaction.

• AI Assistants and the Future The debate intensifies around whether AI chat or voice assistants can enhance service or erode trust in agent relationships.

• Generational Divide on Service Rob emphasizes trust and high-touch service; Greg counters that efficiency and new client expectations may shift norms.

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In this episode, Rob and Greg dive into Zillow’s legal strategy in its defense against Compass's lawsuit, focusing on Zillow’s surprising claim that it only facilitates a “single-digit” percentage of real estate transactions. They debate the strategic implications of this position—especially how it could undermine Zillow’s perception of power in the industry—and analyze the broader impact on listing presentations, MLS relationships, and competitors like Compass and Homes.com. They also preview the upcoming Inman Connect in San Diego and discuss potential industry sentiment and attendance given the market’s current challenges.

  Key Takeaways

• Zillow's Legal Strategy: Zillow argues it is not a monopoly, claiming it only facilitates a single-digit percentage of home transactions.

• Strategic Risk: Rob questions why Zillow would make this claim, suggesting it weakens their perceived power and brand strength in the industry.

• Agent Sales Impact: The claim could hurt Zillow's Premier Agent business by giving competitors a compelling narrative (“why pay for single-digit exposure?”).

• Compass Lawsuit Context: The lawsuit stems from Compass’s perception that Zillow’s policies harmed their three-phase marketing strategy and listing exposure.

• MLS Relationships: Rob and Greg wonder how MLSs might reevaluate their relationships with Zillow after this shift in positioning.

• eXp-Zillow Data Feed Deal: Rob questions why eXp is sending direct data feeds to Zillow when MLS feeds already exist.

• Inman Connect Preview: Greg expects a smaller, more introspective crowd due to market conditions. He plans to gather MLS sentiment on the ground.

• Industry Power Perception: Rob contends Zillow is still the most powerful entity in organized real estate—more than NAR post-clear cooperation—making its current legal stance all the more surprising.

 

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In this episode, Rob and Greg cover recent legal decisions, MLS policy shifts, and major moves by real estate portals. They discuss the dismissal of Homie’s lawsuit against NAR and large brokerages, examine NWMLS’s new referral fee disclosure rule, and analyze the implications of Realtor.com acquiring Zenlist. The episode also reviews Homes.com’s latest seller-focused marketing campaign and raises questions about portal strategy and industry alignment.

Key Takeaways

• Homie v. NAR Lawsuit Dismissed – The case brought by Homie against NAR and the big brokerages was dismissed. Rob and Greg discuss why the case failed and how omitting local MLSs may have weakened it.

• NWMLS Referral Fee Disclosure Policy – Northwest MLS now requires disclosure of referral fees. Rob questions the consumer impact, while Greg views it as a proactive move by the MLS.

• Realtor.com Acquires Zenlist – Realtor.com purchased Zenlist. Greg sees it as a positive sign for the startup space; Rob speculates on strategic motives if MLS access becomes disrupted.

• Homes.com Seller Marketing Campaign – Homes.com sent direct mail brochures to sellers urging paid listing promotion. Industry response was mixed, and Greg shares internal feedback on the campaign.

• Portal Strategy and Industry Perception – Final thoughts include discussion on how portals are messaging to agents and the public, and whether CoStar’s anti-Zillow positioning is effective.

 

Links

Inman Connect Proptech Pre-party hosted by Giant Steps and Tuesday   Inman Article   Video of Agent you liked the mailer https://x.com/scheibrealest8/status/1938078384958943712?s=46   Video from agent who thought the mailer was "odd and disgusting"   From Vendor Alley: The Homes.com Super Bowl Ad I would run

 

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