Patrick Bet-David's Wild Thoughts On NAR Settlement | Knowledge Brokers Podcast 064 Knowledge Brokers Podcast

Byron Lazine and Lisa Chinatti discuss clips from the All In Podcast and Patrick Bet-David Podcast on the NAR settlement—including what it takes to be a trusted advisor, why specialization will be ramped up 100x, three bullet points for agent-client conversations, the "forced into 6%" narrative, and why the gap between the haves and have-nots is going to get wider.





𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe


Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription.





BAM Camp D.C. → Early Bird Pricing extended! https://brokeagentmedia.lpages.co/bam-camp-dc/





BAMfest: A FREE Virtual Festival for real estate agents: https://brokeagentmedia.lpages.co/bamfest/





𝐌𝐨𝐬𝐚𝐢𝐤 is everything you need once a lead becomes a client: Collaborative Search. Listing Management. Transaction Management. Forms. Client Retention. Advanced Analytics. Unlock your digital sidekick today. Use code “bam200” for $200 off the one-time implementation fee → https://www.mosaik.io/





Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1





Resources:


https://fortune.com/2024/04/03/homebuyers-real-estate-agent-broker-why-national-association-of-realtors-settlement-commissions/


https://nowbam.com/85-of-all-sellers-report-a-high-level-of-service-from-their-agent/





Timestamps:


00:00–01:27 Intro


01:27 Two clips from other podcasts discussing the NAR settlement


08:11 Takeaways & reactions to the first clip


10:43 “If that’s what he thinks real estate agents do for him…” (Lisa)


11:50 “Consumers want a trusted advisor.”


13:40 “On the fixed pricing…”


17:23 “I think 12 months from today…” (inventory)


19:01 “There’s a reason contracts are blank.”


20:07 More from the All In Podcast: dual agency, negotiating a fee, buyer agents


25:52 Byron and Lisa break it down


27:30 The haves & have-nots: the gap is going to get wider.


28:03 Byron and Lisa comment on Friedberg’s perception of what agents do


32:57 Clip of the Patrick Bet-David Podcast


43:02 The “forced into 6%” narrative


46:24 Being a trusted advisor requires skill as a salesperson


48:28 Byron on the importance of working out commission & pricing ahead of time (and not being penny-wise and pound-foolish)


52:27 The opportunity for agents (big takeaway from the clips)





———




Connect with Byron Lazine:

https://www.instagram.com/byronlazine




Connect with Tom Toole:

https://www.instagram.com/tomtoole3rd/




Connect with Lisa Chinatti:

https://www.instagram.com/lisachinatti/





Join the 5AM Call: https://5amcall.com/





———




BAM delivers real estate news, education, and entertainment with nonstop original content from an unmatchable line-up of industry personalities and top producers.





Subscribe to BAM YouTube: https://tinyurl.com/aatxhaka




Subscribe to BAM Newsletter:

https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate




Check out BAM: https://nowbam.com/




———




BAM PARTNERS




𝐑𝐞𝐦𝐢𝐧𝐝𝐞𝐫𝐌𝐞𝐝𝐢𝐚: Tired of spending your hard earned money on marketing you know never makes it past the trash can or spam filter? Imagine getting texts and calls thanking you for your marketing. That’s what we do for you → https://remindermedia.com/bamsample/




𝐕𝐮𝐥𝐜𝐚𝐧𝟕: The most accurate, powerful, and effective real estate seller lead generation resource to build your business. GET STARTED TODAY → https://www.vulcan7.com/bam/




𝐕𝐢𝐫𝐭𝐮𝐝𝐞𝐬𝐤: Hire a Virtual Assistant Today! Use code BAM200 for $250 OFF the signup fee → https://myvirtudesk.com/contact?promocode=BAM200




𝐏𝐫𝐨𝐩