April 05, 2024

Patrick Bet-David's Wild Thoughts On NAR Settlement | Knowledge Brokers Podcast 064

57 minutes

Byron Lazine and Lisa Chinatti discuss clips from the All In Podcast and Patrick Bet-David Podcast on the NAR settlement—including what it takes to be a trusted advisor, why specialization will be ramped up 100x, three bullet points for agent-client conversations, the "forced into 6%" narrative, and why the gap between the haves and have-nots is going to get wider.

𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe

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Resources:

https://fortune.com/2024/04/03/homebuyers-real-estate-agent-broker-why-national-association-of-realtors-settlement-commissions/

https://nowbam.com/85-of-all-sellers-report-a-high-level-of-service-from-their-agent/

Timestamps:

00:00–01:27 Intro

01:27 Two clips from other podcasts discussing the NAR settlement

08:11 Takeaways & reactions to the first clip

10:43 “If that’s what he thinks real estate agents do for him…” (Lisa)

11:50 “Consumers want a trusted advisor.”

13:40 “On the fixed pricing…”

17:23 “I think 12 months from today…” (inventory)

19:01 “There’s a reason contracts are blank.”

20:07 More from the All In Podcast: dual agency, negotiating a fee, buyer agents

25:52 Byron and Lisa break it down

27:30 The haves & have-nots: the gap is going to get wider.

28:03 Byron and Lisa comment on Friedberg’s perception of what agents do

32:57 Clip of the Patrick Bet-David Podcast

43:02 The “forced into 6%” narrative

46:24 Being a trusted advisor requires skill as a salesperson

48:28 Byron on the importance of working out commission & pricing ahead of time (and not being penny-wise and pound-foolish)

52:27 The opportunity for agents (big takeaway from the clips)

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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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