EP 68: First Week Under New NAR Rules, Shady Buyers Agents, Chuy's Has Changed, DFW Market Update

We talk about Tavis's 20 year in Dallas real estate party, we then transition to talking about our sons going off to college and their future plans. The conversation then shifts to the new rules implemented by the NAR regarding advertising commissions on the MLS. They discuss the impact of these rules on the real estate market and the challenges it presents for agents. They also touch on the current state of the market and the unpredictability of buyer activity. The conversation covers various topics including negotiating commissions in real estate transactions, the complexity of listing agreements, and the challenges of navigating buyer's agent commissions. They also discuss the acquisition of popular restaurant chains by larger franchises. In terms of the real estate market, they mention the increasing inventory and the potential impact of the upcoming school season on home sales.

keywordsparties, celebrations, college, future plans, NAR rules, advertising commissions, real estate market, buyer activity, real estate, commissions, listing agreements, buyer's agent, restaurant chains, inventory, home sales

takeaways

• Parties and celebrations can bring people together and create lasting memories.
• Sending children off to college is a bittersweet moment for parents.
• The new NAR rules regarding advertising commissions on the MLS have created challenges for agents.
• The real estate market has become unpredictable, with slower buyer activity in some cases.
• Open communication and negotiation are important in navigating the changing real estate landscape. Commission in real estate transactions has traditionally been a non-negotiable item, but recent changes are allowing for more flexibility.
• Listing agreements can be complex and have multiple sections to consider.
• Buyer's agents need to have deeper conversations with their clients about commissions and who is responsible for paying them.
• The real estate market is experiencing an increase in inventory, which may continue as the school season approaches.
• Popular restaurant chains are being acquired by larger franchises.

titles

• Parties, Celebrations, and College Send-Offs
• The Unpredictability of the Real Estate Market The Complexity of Listing Agreements
• Acquisition of Popular Restaurant Chains

Sound Bites

• "People don't, people, well, we've talked about it on here, but you celebrated, I don't know if you know the exact day, but you celebrated 20 years in real estate since you've had your license."
• "Luke deciding to go to college was a pretty last minute decision. Landon getting, uh, accepted to go play basketball and deciding to go to college was even more of a last minute decision."
• "The market has gotten weird. Um, which I'm sure, you know, in our market update, we'll talk about that a little bit, but, um, it's gotten weird in the sense that, you know, and I mentioned this with the property we had in Garland, um, last week that we, uh, had a tremendous amount of showing or a tremendous amount of social media activity went live, went to the market."
• "Why hasn't commission been a negotiable item in the past?"
• "I look at it as a net number to the seller."
• "Buyers pay for the buyer's agent, sellers pay for the seller's agent."

Chapters

00:00Parties, Celebrations, and College Send-Offs

06:34Navigating the New NAR Rules on Advertising Commissions

17:38The Unpredictability of the Real Estate Market

23:19Negotiating Commissions in Real Estate Transactions

25:39Challenges of Navigating Buyer's Agent Commissions

35:05Acquisition of Popular Restaurant Chains

43:07Increasing Inventory in the Real Estate Market