The End Of The Old Real Estate Industry and Beginning of a New | The Kings Table
Millionaire Mindcast
Matt Aitchison
4.4 • 716 Ratings
🗓️ 3 November 2023
⏱️ 69 minutes
🧾️ Download transcript
Summary
Welcome to Episode 13 of The Kings Table Podcast, a captivating show hosted by Ashish, Mike, Aaron, and Matt. Join us for an unfiltered, authentic experience as we gather weekly to delve into the raw discussions that drive our lives, businesses, economics, and the world.
Meet the hosts:
1. Mike 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 Nathu is a founder and CEO, entrepreneur, real estate investor, triathlete, and host of the Rich Equation Podcast.
3. Matt Aitchison is a celebrated boutique hotelier and commercial real estate investor. As the Founder and CEO of Imagos Hospitality Group, he specializes in boutique hotels and commercial assets, alongside hosting a globally-ranked Top 100 Business Podcast.
4. Aaron 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.
In this episode, we explore recent industry developments, including reflections and feedback from Episode 11, featuring Vivek Ramaswamy. The main focus of our discussion centers on a significant event that has rocked the real estate world: the National Association of Realtors and top residential brokerages being ordered to pay $1.8 billion in damages to approximately half a million home sellers. They were found liable for artificially inflating home sale commissions, a decision that is poised to reshape the industry.
We kick off the episode with Ashish introducing the discussion where we briefly shared feedback received regarding our episode with Vivek Ramaswamy. The hosts did a round table discussion, dissecting the implications of the National Association of Realtors being found liable for $1.8 billion in damages due to allegations of conspiring to maintain high commissions. The hosts tackled the subject of Multiple Listing Services (MLS) and discussed opportunities related to buyer representation, especially with the advent of technology that has the potential to reduce costs and the importance of effective training. Join us to gain invaluable insights into these recent industry-shaping events and discover how they might affect you.
Highlights:
00:00 - Ashish kicks off the episode
03:41 - Reflections and recap of various feedback received from Episode 11 (Vivek Ramaswamy episode)
17:09 - Round table discussion about the National Association of Realtors found liable for $1.8 billion in damages in the conspiracy to keep commissions high, sharing insights on how this will impact the industry
35:50 - Discussion on MLS (Multiple Listing Services)
40:56 - Opportunities with regard to buyer's representation, such as technology driving cost down, and training
58:11 - Final thoughts on how to leverage bad news, search for opportunities, and create wealth
Connect with us!
We eagerly await your feedback about the show! Kindly share your thoughts via text message at this number: (844) 447-1555.
Connect with Mike Ayala on his Instagram, YouTube, Website, and his Investing For Freedom Podcast.
Connect with Ashish Nathu on his Instagram, YouTube, Website, and the Rich Equation Podcast.
Connect with Matt Aitchison on his Instagram, YouTube, Website, and Millionaire Mindcast Podcast.
Connect with Aaron Amuchastegui on his Instagram, YouTube, Website, and the Real Estate Rockstars Podcast.
Episode Sponsored by:
HelloFresh: Visit https://hellofresh.com/50mindcast or Use the code 50MINDCAST to get 50% off plus free shipping!
Caldera Lab: Visit https://calderalab.com/MINDCAST or use the code MINDCAST to get 20% off!
Transcript
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| 0:00.0 | Good morning, everybody. |
| 0:07.2 | Welcome back to another episode, episode number 13 of the King's Table. |
| 0:12.7 | I am Ashish Nathu. |
| 0:14.1 | I am joined with my best of best friends, Mooch, coming in from Austin, Maddie Atchison, and Mike Ayala. |
| 0:22.9 | Good to see you guys. |
| 0:24.6 | Happy Diwali, happy Halloween, happy Dia de Muerces. |
| 0:29.5 | It is a season of lots of celebrations and things. |
| 0:34.0 | And right before we were recording, Mouche, I don't know what is in the air, |
| 0:36.8 | but it is definitely a rough season, isn't it? |
| 0:40.7 | Yeah, there's so much wild news. |
| 0:43.0 | It's just wild things. |
| 0:44.4 | Like, November should just stress everybody out, right? |
| 0:48.6 | It's like, wait, Thanksgiving, then Christmas, then the end of the year and goals. |
| 0:52.3 | Combine that with Israel and real estate markets and tension. |
| 0:56.5 | It's a season. |
| 0:57.2 | It's been a weird week. |
| 0:59.1 | This is honestly my favorite season of the year. |
| 1:01.9 | I don't know what you guys are talking about. |
| 1:03.4 | Well, season in terms of holidays and fun, but. |
| 1:08.1 | I'm loving this season right now. |
| 1:09.8 | You're always vibes as good as you want to make it, right? |
| 1:12.9 | I mean, it's whatever narrative and story you're tapping into right now. |
... |
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