Debunking Misinformation: New Contract & Offer Criteria | Tom Ferry Podcast Experience

The Tom Ferry Podcast Experience

Tom Ferry

Education, Business, Self-improvement

4.7 • 1.1K Ratings

🗓️ 6 August 2024

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Consumer Federation of America just proposed a new set of criteria for evaluating seller contract forms. Here’s the problem it aims to address: half the states we work in haven’t given us new paperwork, and the other half have given us ambiguous, confusing paperwork. With the new offer rules surrounding the NAR settlement about to take effect, there’s a lot of misunderstanding (and misinformation) surrounding what you can and can’t do regarding contracts and offers. In this vitally important episode of the Tom Ferry Show, I’m talking with one Leo Pareja, the new CEO of eXp Realty, who helped to create the proposed new contract criteria, on what it means and how to understand all the changes taking place. He’ll help you cut through the misinformation and get a full grasp on how to conduct business in the new world of real estate. The new commission rule changes DO affect you, and Leo and I can help you understand how to navigate them, so watch or listen now.

Transcript

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0:00.0	Hey, welcome back to the podcast. Today I've got a long-time friend, Leopraia.
0:09.8	90 days ago you took over the job as CEO of e.
0:13.0	XP the good news is there been absolutely no change in the last 90 days
0:17.2	so ever.
0:18.2	Brother you have been on a terror and I would say it is a terror for the good of all not just the
0:24.7	ex-P right you know I'm Switzerland I work with everybody and yet I have so much
0:30.2	respect and appreciation for the stance that you've taken in the industry, for the
0:35.2	one agent that's been sitting under a rock.
0:38.4	I'm looking at the CFA press release that just came out. Could you just share with us some insight on what you're trying to accomplish,
0:47.0	who you're trying to accomplish it for,
0:49.0	and we got 20 minutes before you got to run in an earnings call,
0:52.0	so here we go.
0:52.8	Yeah so first of all thank you for letting me drop in so we can reach as many people as possible.
0:56.8	So the first thing I want to say to any agent listening is I actually completely disagree with the accusations
1:04.0	thrown against us by these planes of hers.
1:07.0	I think they saw a big payday and they came after us.
1:10.0	I think the way we've done things
1:12.0	actually was very good for the consumer. But one of the things I think the way we've done things actually was very good for the consumer.
1:14.4	But one of the things I said on March 18th when I went live right after the settlement was agreed upon
1:18.7	is 90% of life is how you react to it.
1:22.1	10% is what actually happens.
1:24.0	Are these the new rules of engagement?
	...

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