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Real Estate Rockstars Podcast

Kings Table Ep. 19: The End of the National Association of Realtors

Real Estate Rockstars Podcast

Aaron Amuchastegui

Investing, Careers, Business

4.6864 Ratings

🗓️ 15 December 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

Do we really need the NAR? On this episode of The Kings Table Podcast, we cover how the National Association of Realtors controls the market and why it could be defunct within a few years. Join our discussion as we offer theories on what a post-NAR real estate industry might look like. Other topics in today’s show include our thoughts on current candidates for the 2024 presidential election, our personal goals for 2024, and the tax-saving strategies of savvy business owners. Subscribe to The Kings Table Podcast here: https://www.youtube.com/@KingsTablePodcast Meet the hosts:1. Mike (The Sage) Ayala is an accomplished investor, speaker, and podcast host, who stands at the helm of Investing for Freedom, guiding busy professionals and entrepreneurs toward the path of genuine liberation and optimal living. 2. Ashish (Hostess with the Most-est) Nathu is a founder and CEO, entrepreneur, real estate investor, triathlete, and host of the Rich Equation Podcast. 3. Matt (Hero of Hospitality) Aitchison is a distinguished real estate investor, captivating speaker, and committed philanthropist. 4. Aaron (The Trend Spotter) Amuchastegui is a seasoned real estate virtuoso with a remarkable track record of over 1,000 house transactions, predominantly acquired through astute foreclosure purchases at courthouse auctions.

Transcript

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0:00.0

Hey Real Estate Rockstars, this is Aaron Amujastagi, and it is Friday, which means we have a new episode of the Kings Table Podcast.

0:07.0

Well, if you guys know the full podcast is over on our Kings Table YouTube page, but for a few minutes to see if you want to go over there and find it,

0:15.5

here's parts of that episode that I hope you enjoy.

0:17.8

So listen up.

0:19.4

Let's talk about the National Association of Reeliters.

0:22.3

Who says? Who says that, and I was a Reeliter for a minute, but who says that I have to, who says that I have to join the National Association of Reeliters?

0:33.4

So the technical, so no one says, but here's the, so you can actually be licensed as an agent and you don't have to sign up. But there's no possible way to succeed as an agent

0:47.7

without signing up. So that's this great, that's why it's a different. So essentially

0:52.2

you can't be a buyer's agent and get paid a commission

0:55.4

unless you're part unless you pay extra for the National Association of Realtors.

0:58.8

Getting licensed doesn't doesn't let you get a buyer's commission, right?

1:04.1

You have to be a part of the National Association of Realtors

1:06.4

to get commissioned through that MLS.

1:08.1

And so it's like a lot doesn't say you have to sign up.

1:10.8

But the legal argument is yes but you can't actually succeed and so you

1:17.1

should just be able to get licensed and succeed. And you can't succeed because

1:21.4

you need access to and you need the tools and all of that.

1:28.1

So who decided that?

1:31.1

Yeah, the, well, and the tool, so the National Association of Realtors, it used to be that if you were licensed no matter what, you were eligible to get a buyer's agent commission.

1:40.0

Back in like 05, 06, somewhere in there, the Realtors Association said, look, for non-members now,

1:47.1

you can't get a buyer commission anymore.

1:48.9

And then even some local members said, like in California, hey, if you're a member in LA, but you're not a

...

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