In this episode of the Structure Talk podcast, Ruben Saltzman and Tessa Murry are joined by Michael Bartus. They discuss the recent legal settlement involving the National Association of Realtors and its impact on the real estate industry. The conversation explores the challenges of navigating the new regulations and provides advice for buyers and sellers in this evolving landscape. The discussion covers topics such as the role of the National Association of Realtors (NAR) in setting commission rates, the potential changes in the industry, and the challenges faced by real estate agents. The conversation also touches on the importance of standard forms and the potential for alternative MLS systems to emerge. The hosts discuss the possibility of a sliding scale for commissions based on the price of the property and the potential impact of technology on the industry.

Check the links below for the following topics:
What the NAR Settlement Means for Home Buyers and Sellers:
(https://www.nar.realtor/the-facts/what-the-nar-settlement-means-for-home-buyers-and-sellers)

CAARE – Consumer Advocates in American Real Estate.. Empowering real estate consumers since 2008 (https://www.caare.org/)

Takeaways

The legal settlement requires real estate brokerages to separate the commissions paid by sellers and buyers.
Realtors need to educate themselves and their clients about the new regulations and negotiate compensation agreements.
Buyers and sellers should carefully review contracts and agreements to ensure they understand the terms and avoid potential pitfalls.
The real estate industry is experiencing significant changes, and it is important for all parties involved to adapt and communicate effectively. The antitrust lawsuit against NAR could lead to changes in the real estate industry and give buyers and sellers more power to negotiate commission rates.
The role of NAR in setting commission rates and controlling aspects of the real estate industry has been challenged by the lawsuit.
Alternative MLS systems may emerge as a result of the lawsuit, potentially leading to a more fragmented industry.
The conversation highlights the importance of standard forms and compliance in the real estate industry.
There is a discussion about the potential for a sliding scale for commissions based on the price of the property.
The impact of technology on the real estate industry is also explored, with the possibility of a shift towards online platforms and reduced reliance on traditional real estate agents.

Chapters

00:00 Introduction and Recap of Previous Episode
02:57 Discussion on the Legal Settlement and its Impact
04:13 Introduction of Guest and Past Topics
05:44 Explanation of the Legal Settlement
09:19 Challenges and Concerns Raised by the Settlement
13:49 Navigating the New Regulations
18:18 Advice for Buyers and Sellers
20:07 Clarification on Commission Arrangements
23:25 Additional Steps and Considerations for Realtors
23:58 Introduction to the antitrust lawsuit against NAR
26:15 The impact of the lawsuit on the real estate industry
28:09 The role of NAR in setting commission rates
29:06 The potential for alternative MLS systems
35:39 The possibility of sellers negotiating lower commissions
45:28 The influence of technology on the real estate industry