Knowledge Brokers Podcast BAM Media

Byron Lazine, Lisa Chinatti, and Tom Toole discuss the latest jobs report, conversations agents are having (on existing home sales, Goldman Sachs, homeowner tenure, increased days on market, pricing strategies, etc.), homebuilder sentiment, the importance of not conceding on location, and voting priorities by generation.

Watch the Objection Handling Live event hosted by BAM on Thursday, June 6, 2024: https://www.youtube.com/watch?v=ftqeIexGXw8&t=4s

𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe
Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription.

Join us at BAM Mania! The Must-Attend Real Estate Event Of The Year: https://brokeagentmedia.lpages.co/bam-mania-2024/

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://www.redfin.com/news/gen-z-housing-affordability-important-vote/
https://nowbam.com/housing-affordability-is-priority-1-for-gen-z-voters/

Timestamps:

00:00–01:02 Intro
01:02 Newest job report: 272,000 jobs added in May, with 4% unemployment
04:50 Goldman Sachs’ economic & financial outlook
05:46 99.4% chance of Fed rate staying put in next week’s FOMC meeting
06:32 Zillow event slides: Early signs of financial distress
07:23 “Those job numbers include part-time jobs…
18:17 The impact of roleplaying on the quality of your conversations

———
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/
———
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On this episode of the Knowledge Brokers Podcast, Byron Lazine and Tom Toole discuss the Northwest MLS (NWMLS) decision not to opt-in to the NAR settlement, the new MLS fields launched by California Regional MLS (CRMLS), Bright MLS news, normalizing "the forms that govern a real estate transaction,"

𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe
Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription.

Join us at BAM Mania! The Must-Attend Real Estate Event Of The Year: https://brokeagentmedia.lpages.co/bam-mania-2024/

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://x.com/NewsLambert/status/1795297832477323469
https://nowbam.com/nwmls-becomes-the-first-mls-to-say-no-thanks-to-nar-settlement-terms/
https://www.housingwire.com/articles/cfpb-issues-info-request-for-mortgage-closing-costs-in-assault-on-junk-fees/
https://www.housingwire.com/articles/more-than-half-of-homebuyers-dont-shop-for-a-mortgage-lendingtree/
https://www.realestatenews.com/2024/05/30/bright-mls-to-offer-expanded-concessions-field

Timestamps:

00:00–01:11 Intro
01:12 NWMLS will not opt-in to the NAR settlement
02:55 NWMLS strong verbiage and Michael Ketchmark’s comment
07:49 News on California Regional MLS (CRMLS): New MLS fields
10:29 NWMLS believes NAR settlement terms could lead to more secret arrangements
11:56 Article on Bright MLS (visual) by Real Estate News
14:01 Elevating training in the industry & “the forms that govern a real estate transaction”

———
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/
———
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𝐏𝐫𝐨𝐩𝐒𝐭𝐫𝐞𝐚𝐦: The most trusted provider of comprehensive real estate data nationwide. Try it FREE → https://signup.propstream.com/name
𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% → https://sisu.grsm.io/bam-pod-partners
𝐒𝐢𝐞𝐫𝐫𝐚 𝐈𝐧𝐭𝐞𝐫𝐚𝐜𝐭𝐢𝐯𝐞: Solutions That Maximize ROI. SEO powered IDX websites and a predictive CRM driven by marketing automations that help you capture, convert and close. Faster. Let's Chat → https://ge

On this episode of the Knowledge Brokers Podcast, Lisa Chinatti and Tom Toole discuss NAR's petition for a rehearing of the three-judge panel decision in favor of the DOJ, VA buyers agent commissions, and the increase in housing inventory. They also share their advice for consumers, and each one's top three skills agents need to focus on right now, as well as their tips on how to prepare your business for the Memorial Day weekend.





𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe
Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription.





Join us at BAM Mania! The Must-Attend Real Estate Event Of The Year: https://brokeagentmedia.lpages.co/bam-mania-2024/





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://www.housingwire.com/articles/va-to-roll-out-temporary-fix-to-buyer-agent-commi[…]LOS&cx_experienceActionId=showRecommendationsAE03ECM0NSUO23


https://nowbam.com/nar-seeks-rehearing-on-doj-investigation-ruling/









Timestamps:



00:00–01:03 Intro


01:03 TOPIC: DOJ vs NAR (NAR’s petition for a rehearing)


03:47 “We deal in contracts. How can we not honor them?”


06:34 Will home sellers no longer be allowed to incentivize buyers…?


08:02 “This is concerning for the future of the industry (and every industry).”


10:32 TOPIC: VA Buyers agent commission (temporary fix)


16:07 TOPIC: Increases in inventory (good news for buyers—not necessarily for sellers)


21:22 CHART: “Bright MLS Service Area—Weekly New Listings (Week ending 5/19/24)”




24:15 Lisa’s advice to consumers


28:08 Tom’s top 3 skills an agent needs to be focused on right now


32:29 Lisa’s top 3 agent skills


38:32 "What should agents be doing to prep before Memorial Day?"





———




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/




———




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𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% →

On this episode of the Knowledge Brokers podcast, Byron & Tom discuss Andy Florence's comments about competitors like Zillow and Realtor.com adopting the "your listing, your lead" model for Homes.com. They debate the transparency concerns around buyer representation and whether it leads to dual agency. Recent inflation data showing signs of moderating prompts a discussion on how to position rising inventory levels to buyers experiencing cold feet. They also emphasize the importance of comprehensive buyer consultations to educate clients and provide advice on facilitating a smooth contract signing process.

Watch the KBP episode with the unfiltered interview of Realtor.com CEO Damian Eales: https://www.youtube.com/watch?v=OACmX0EKwAk&t=1823s

𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe
Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription.

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:
Byron's Twitter/X post: https://twitter.com/ByronLazine/status/1790561840591696148

Timestamps:

00:00–01:07 Intro
01:07 - Discussion on Damian Eales Interview
07:05 - Andy Florence "Your Listing, Your Lead" Comments
13:41 - Debating Dual Agency Concerns
17:51 - Transparency of Buyer Representation
21:08 - Recent Inflation/Mortgage Rate Updates
25:19 - Inventory Levels Rising
32:10 - Buyers Getting Cold Feet Observation
38:02 - Importance of Buyer Consultations
49:58 - Advice on Contract Signing Process

———
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/
Connect with Damian Eales: https://www.linkedin.com/in/damian-eales-37803221/

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/
———
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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/
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𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% → https://sisu.grsm.io/bam-pod-partners
𝐒𝐢𝐞𝐫𝐫𝐚 𝐈𝐧𝐭𝐞𝐫𝐚𝐜𝐭𝐢𝐯𝐞: Solutions That Maximize ROI. SEO powered IDX websites and a predictive CRM driven by marketing automations that help you capture, convert and close. Faster

The Knowledge Brokers sit down with Realtor.com CEO Damian Eales to discuss his recent Wall Street Journal op-ed advocating for buyer agency and the potential impact of the NAR settlement on commissions. Eales defends his stance, addresses criticism from competitors like Zillow’s Rich Barton, and shares Realtor.com’s position on dual agency.

𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe
Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription.

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://mediaroom.realtor.com/2024-04-18-Realtor-com-R-Calls-on-Industry-to-Join-Campaign-to-Stand-up-for-Buyer-Representation
https://www.wsj.com/articles/what-home-buyers-get-for-those-agent-commissions-86ed34ab
https://nowbam.com/realtor-coms-new-campaign-advocates-for-buyer-representation-but-will-it-impact-consumer-sentiment/
https://twitter.com/Rich_Barton/status/1781090507101274241?ref_src=twsrc%5Etfw%7Ct[…]r-buyer-representation-but-will-it-impact-consumer-sentiment%2F

Timestamps:

00:00 Introduction
02:25 Discussion of Damien’s op-ed piece
14:59 Critique of the op-ed
18:34 Potential changes to the op-ed
22:13 Rich Barton’s tweet about the op-ed
26:16 Realtor.com’s position on dual agency
28:33 Advertising campaign critique of Homes.com
37:02 Response to Homes.com calling Damien “defamatory and desperate”
38:53 Potential debate with Homes.com
40:43 Alignment with NAR and MLSs
44:32 NAR’s advertising campaign critique
48:38 Generating seller leads through portals
53:02 Relationship with follow-up boss CRM
54:52 Appreciation for recognizing agents as customers

———
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/
Connect with Damian Eales: https://www.linkedin.com/in/damian-eales-37803221/

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
𝐏𝐫𝐨𝐩𝐒𝐭𝐫𝐞𝐚𝐦: The most trusted provider of comprehensive real estate data nationwide. Try it FREE → https://signup.propstream.com/name
𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% → https://sisu.grsm.io/bam-pod-partners
𝐒𝐢𝐞𝐫𝐫𝐚 𝐈𝐧𝐭𝐞

Tom Toole and Lisa Chinatti discuss this week’s FOMC meeting, the latest jobs report, Zillow’s new touring agreement, and the most critical skill to have as a real estate agent.


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


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

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://nowbam.com/wait-and-see-powell-on-rate-cuts-housing-inflation-and-market-rents/


https://www.wsj.com/economy/jobs/jobs-report-april-unemployment-a8a1ac1a


https://www.zillowgroup.com/news/zillows-touring-agreement/


———


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


𝐏𝐫𝐨𝐩𝐒𝐭𝐫𝐞𝐚𝐦: The most trusted provider of comprehensive real estate data nationwide. Try it FREE → https://signup.propstream.com/name


𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% → https://sisu.grsm.io/bam-pod-partners


𝐒𝐢𝐞𝐫𝐫𝐚 𝐈𝐧𝐭𝐞𝐫𝐚𝐜𝐭𝐢𝐯𝐞: Solutions That Maximize ROI. SEO powered IDX websites and a predictive CRM driven by marketing automations that help you capture, convert and close. Faster. Let's Chat → https://get.sierrainteractive.com/bam


———