Got a good one today on Talking Manhattan! Noah and John sit down with special guest Ryan Tomasello, Managing Director at KBW, to delve into the transformative changes coming to the real estate industry with a particular focus on new commission structures and the implications of lawsuits against NAR and other major brokerages. We discuss the impact on agents and consumers with potentially more transparent and lower commission rates and the evolution of market structures with increased competition and more diverse pricing models. As a Wall Streeter, Ryan provides a unique, outside perspective on broader economic effects, and in this episode, he underscores the need for real estate professionals to be ready to adapt to changes while effectively communicating value. This is a good one to help you stay ahead and remain competitive in our rapidly evolving industry!

Highlights:

02:06 - A high-level overview of what's happening

04:00 - Part of a much bigger storyline

07:50 - "There's a reset coming"

10:36 - Possible new revenue models

13:55 - The 80/20 rule

16:35 - Knock on effects

20:00 - Timeline

23:14 - Winners and losers

25:11 - Final thoughts

Ryan's page at KBW:

https://www.kbw.com/about-us/our-team/research/ryan-tomasello/

Ryan's page on LinkedIn:

https://www.linkedin.com/in/ryantomasello/

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