197: NAR Finally Faces Competition: Is the Agent "Monopoly" Over? w/Jason Haber and Mauricio Umansky

On The Market

BiggerPockets

News, Investing, Business, Education

4.8 • 820 Ratings

🗓️ 11 March 2024

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Disclaimer: Opinions expressed in this episode and written below are solely opinions of the hosts, guests, and writers and do not reflect the views of BiggerPockets. The recent NAR lawsuits are paving a new path for real estate agents—one that could change how we buy and sell real estate forever. For the past century, the NAR (National Association of Realtors) has been the controlling association for the American housing market. With most real estate agents in the country being members, the NAR has gone without an alternative for almost the entirety of its existence—but that’s about to change. Jason Haber and Mauricio Umansky, founders of the new “American Real Estate Association,” have come to give agents something different. To combat outdated fee structures, sexual harassment scandals, and a large bureaucracy, Jason and Mauricio wish to create an association that thrives on collaboration, innovation, and excellence for the best real estate agents so the industry can improve. But what type of changes are they thinking of? Say goodbye to the “basic brokers,” as Jason and Mauricio lay plans to strengthen the skills of serious real estate agents, create more investor-friendly education opportunities, bolster the ethics of those buying and selling real estate, and bring more diversity and inclusion to the decision-making that often happens behind closed doors. This could be a new era for real estate agents—one where their destiny is in their own hands. In This Episode We Cover: Recent NAR lawsuits that could put the trade association in jeopardy Breaking up the broker “monopoly” by finally giving real estate agents a choice Agent innovation and why we DON’T need more agents…we need BETTER agents Agent commissions, costs, and fees that could be changed with the American Real Estate Association Why women MUST play a more prominent role in the future of the real estate industry And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Forums BiggerPockets Agent BiggerPockets Bootcamps Join BiggerPockets for FREE On The Market Join the Future of Real Estate Investing with Fundrise Connect with Other Investors in the “On The Market” Forums Subscribe to The “On The Market” YouTube Channel Henry's BiggerPockets Profile Henry's Instagram James' BiggerPockets Profile James' Instagram Jason's Instagram Jason's LinkedIn Jason's X/Twitter Mauricio's Instagram Mauricio's LinkedIn Mauricio's X/Twitter BiggerPockets' Instagram Hear Our Past Episodes on The NAR Lawsuits: Lawsuit Explained Verdict Settlement American Real Estate Association Check out more resources from this show on https://www.biggerpockets.com/blog/on-the-market-197 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	What's going on, everybody?
0:08.5	It's Henry Washington here for this episode of On the Market, and I'm joined by my buddy James Dainerd.
0:14.7	James, how are you?
0:15.6	I'm doing good.
0:16.5	We get a run point today.
0:18.3	I feel like we got graduated.
0:20.4	We're subbing in for Dave today. But tell us what we're going to talk about, man.
0:24.9	So we have some awesome guests coming on today.
0:26.5	We got Jason and Mariccio.
0:27.7	They are working on making some changes, you know, to follow up about what we've heard
0:32.4	about the NAR.
0:33.9	There's been a lot of media over the last three to six months about the antitrust lawsuit, there's sexual harassment lawsuits, and the NAR. There's been a lot of media over the last three to six months about the antitrust
0:38.0	lawsuit. There's sexual harassment lawsuits. And the NAR is going through an evolution and there
0:43.3	is some headwinds and changes coming their way. And now they have a little bit of competition
0:49.1	where they have, they're starting the American Real Estate of Association, which is going to be another
0:56.5	association that will compete with the NAR.
0:59.2	There has been a lot of developments with the NAR, this being the most recent one.
1:04.0	And the reason this is important is because it could change how agencies to MLS.
1:08.4	It could change how investors and homeowners get access to that
1:12.1	information. So yes, we aren't endorsing this as a product, but we want to bring you this
1:18.3	information because if something like this comes to pass, it could go right along with
1:24.3	changing the way agents use the MLS and changing the way investors and homeowners
	...

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