The Update Podcast with Saul Klein, John Reilly, and Tristan Ahumada

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Welcome to ”The Update Podcast with Saul Klein, John Reilly, and Tristan Ahumada” – your go-to source for the latest developments and insights in the ever-evolving world of Real Estate. Join industry veterans Saul and Tristan as they delve into breaking news, trends, and expert analysis, keeping you informed and ahead of the curve. Tune in to stay updated and empowered in the dynamic landscape of real estate.

  1. FEB 26

    Episode 45: The Brokerage Industry's Biggest Challenge This Year

    Welcome back to The Update with Tristan Ahumada, Saul Klein, and John Reilly. If you thought the real estate industry could breathe easy after the antitrust settlements, think again. The legal "flavor of the year" has arrived, and it’s called RESPA violations. In this episode, we’re breaking down the massive class-action lawsuits hitting Zillow, Rocket Mortgage, and Veterans United. We look at how "kickbacks" are being redefined in the digital age, is receiving a lead the same as receiving cash? As Saul puts it, Zillow is a "consumer engagement engine," but the DOJ is looking at it as a potential antitrust minefield. The rules of mortgage lending and settlement services are changing. Real estate agents and brokers must now go through a messy 2026 market where housing affordability is a political pawn and antitrust attorneys are the new permanent staff. We cover the Consumer Financial Protection Bureau (CFPB) and Regulation X red flags that could trigger a fiduciary duty breach.   Key topics discussed: The Zillow and Taylor consolidated case regarding Premier Agent leads. Why Rocket Mortgage is the new target for class action attorneys. The Consumer Financial Protection Bureau (CFPB) and Regulation X red flags. Truth in Lending Act (TILA) risks for agents acting as loan officers. Why the "Intercontinental Exchange" (ICE) is the quiet giant of mortgage technology. #RealEstateNews #ZillowLawsuit #RESPA #MortgageLending #TristanAhumada #HousingAffordability #Antitrust #RealEstateAgent #BrokerageManagement #TheUpdate #RocketMortgage

    33 min

  2. JAN 29

    Episode 44: Real Estate is Illegal Now? Zillow, Rocket & The RESPA Nightmare

    Welcome back to The Update, where Tristan Ahumada, Saul Klein, and John Reilly discuss why waking up as a real estate professional feels like dodging a subpoena.   In this episode, we plunge into Rocket Mortgage lawsuit and the Zillow RESPA violation. Apparently, attorneys ran out of things to do, so they found a "new" loophole involving RESPA violations regarding steering and undisclosed referral fees. It turns out, getting kickbacks for sending your clients to a specific lender is frowned upon, who knew?   We also dissect the four horsemen of the real estate apocalypse: litigation, consolidation, regulation, and legislation. If you thought selling houses was just about opening doors, think again; it’s now about avoiding breach of fiduciary duty while navigating anti-trust landmines.   Later, we discuss Compass Real Estate and their plan to take over the world (or at least your desktop). Robert Refkin is building an Agent Operating System that aims to be the end-to-end solution for brokers. Is it innovation, or just a really expensive way to recreate the MLS? Speaking of expensive, Optimal Blue is facing a class action for alleged mortgage price fixing. Because interest rates weren't high enough already.   Finally, we wrap up with the future of MLS and the ongoing assault on private property rights. Is the MLS dead? Probably not, but the real estate news cycle certainly wishes it was.

    32 min

  3. JAN 15

    Episode 43: MLS, Zillow, Compass: The Power Move No One Can Ignore

    This episode of The Update is for anyone trying to understand why real estate still feels unstable long after the headlines moved on. Tristan Ahumada, Saul Klein, and John Reilly break down what’s actually happening behind the scenes: the unresolved NAR settlement, growing MLS fragmentation, the rise of private listing networks, and why Zillow and Compass are no longer just platforms but power centers. The discussion covers clear cooperation policy, MLS data control, Compass Anywhere, antitrust exposure, RESPA concerns, Zillow Flex, and how consolidation quietly reshapes who benefits and who doesn’t. This isn’t theory or speculation, it’s a real-time look at how litigation, data, and leverage are colliding. If you’re a broker, agent, or industry leader trying to stay informed without drowning in noise, this episode helps you connect the dots and understand where real estate power is heading to next.   #RealEstateNews #MLS #NARSettlement #PrivateListings #Zillow #Compass #RealEstateIndustry #BrokerLife #TristanAhumada #SaulKlein #JohnReilly

    38 min

  4. 12/18/2025

    Episode 42: NAR Updates, Brokerage Moves, and Real Estate Reality

    Episode 42 of The Update is here, and shocker, the real estate industry is still very dramatic. Tristan Ahumada, Saul Klein, and John Reilly break down the latest NAR updates, brokerage decisions, and housing market news from December 16, 2025, without yelling “crisis” every five minutes. This episode covers real estate news 2025, NAR policy changes, brokerage strategy, housing market trends, real estate industry analysis, agent business planning, broker leadership, commission conversations, housing data context, real estate regulation, market uncertainty, and what actually matters for real estate agents trying to run a business. If you want real estate commentary that adds context instead of panic, you are in the right place. They talk through how recent National Association of Realtors headlines impact everyday agents, why some brokerage moves look smarter on LinkedIn than they do in real life, and how the housing market is behaving when you ignore the clickbait. What you will hear in this episode: • NAR updates explained in plain language • Brokerage changes that affect agents and brokers • Housing market trends without the doom music • Honest takes on where the industry is headed   #realestatenews #narupdates #brokerages #housingmarket #realestateindustry #realtorlife #realestatepodcast #agentlife

    32 min

  5. 12/05/2025

    Episode 41: The latest with NAR, Brokerages, and the Real Estate Landscape

    Zillow is back in court. Again. Because apparently one lawsuit just is not enough. In this episode, Tristan Ahumada, Saul Klein, and John Reilly break down the latest legal headaches facing Zillow, including the Compass listing access fight, the ongoing RESPA class action lawsuit, and what this all could mean for agents who played along. We talk Zillow bans, MLS rules, discovery drama, electronically stored information, buyer steering, fiduciary duty risks, and why referrals still beat internet leads every day of the week. Plus, how all of this could ripple into 2026 and beyond. If you are a real estate agent using Zillow leads, thinking about Flex, or just enjoy watching billion-dollar companies explain themselves in court, this one is for you. Warning: This episode contains legal terms, agent anxiety, and the phrase “per se violation” more times than anyone wanted.   #realestate #zillow #realestatenews #realestateagent #housingmarket

    33 min

  6. 11/21/2025

    Episode 40: NAR MLS Rule Changes, Zillow Lawsuits, Referral Fee Drama, and AI Fair Use in Real Estate

    Episode 40 of The Update digs into the biggest real estate news hitting every headline right now. Tristan Ahumada, Saul Klein, and John Reilly break down the NAR MLS rule changes, the fallout from years of antitrust pressure, and why this shift matters for agents across the US. We cover the states already living under open MLS rules, how the Paulson and Thompson decisions shaped the landscape, and what it means for MLS access going forward. The crew also talks through the referral fee vote that split the NAR board and its delegate body. Next, we go deep on the class action lawsuit hitting Zillow. We talk about the 40 percent referral fee, platform fees, the Preferred program, claims from agents, possible RESPA issues, and how this case might change referral programs across the industry. We close with a clear look at AI, fair use, search changes, and why this matters for real estate pros who publish online. This episode gives you straight talk on policy, lawsuits, and tech shifts shaping the real estate business right now. If you want more episodes that keep you updated on industry changes, subscribe and turn on alerts.

    26 min

  7. 11/06/2025

    Episode 39: Zillow, Compass & Lawsuits: Real Estate’s Messy Breakup

    After what was supposed to be a “summer break” that somehow lasted through fall, Tristan Ahumada, Saul Klein, and John Reilly crawl out of the real estate rubble to find that the industry didn’t exactly calm down while they were gone. Between the Compass–Anywhere merger, the Zillow vs. Compass lawsuit, MLS drama, and enough real estate litigation to fill a Netflix docuseries, this episode has all the chaos you missed. Oh, and AI decided to join the party too, because why not? Featuring: Tristan Ahumada — CEO of Lab Coat Agents and A Brilliant Tribe, still trying to keep real estate logical. Saul Klein — Real Estate Internet Evangelist and consultant, basically the Gandalf of the MLS. John Reilly — Real Estate Educator, Attorney, and self-proclaimed “recovering lawyer.” They’re breaking down the latest real estate lawsuits, Compass and Anywhere acquisition rumors, Zillow’s sudden moral awakening, and how AI tools like ChatGPT might accidentally become the new MLS. If you’ve ever thought, “How messy can this industry get?” the answer is “more.”   #realestate #compass #zillow #labcoatagents #tristanahumada #saulklein #johnreilly #realestateupdate

    34 min

  8. 09/04/2025

    Episode 38: Why Buyer Commissions Are Rising and Lawsuits Are Reshaping Real Estate

    The real estate market is changing fast, and hosts Tristan Ahumada, Saul Klein, and John Reilly are pulling back the curtain on what’s really happening.   From the surprise rise in buyer agent commissions to billion-dollar lawsuits against NAR, Sitzer Burnett, and Gibson, this episode dives into the biggest legal and compliance battles shaping real estate today. The trio unpacks DOJ vs NAR, antitrust risks, MLS competition, Zillow vs Compass vs CoStar, copyright fights, and what it all means for brokers, agents, and homebuyers. They even tackle the possibility of a national housing emergency and how it could reshape affordability, zoning, and government regulation.   If you’re a real estate agent, broker, or investor who wants to stay ahead of industry shifts, this is the conversation you need to hear. Share your take in the comments. Where do you think the housing market is headed next?     #realestatepodcast #realestatenews #housingmarketupdate #realestatebroker #realtorlife #realestatelitigation #realestateindustry #realestateagents

    33 min
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About

Welcome to ”The Update Podcast with Saul Klein, John Reilly, and Tristan Ahumada” – your go-to source for the latest developments and insights in the ever-evolving world of Real Estate. Join industry veterans Saul and Tristan as they delve into breaking news, trends, and expert analysis, keeping you informed and ahead of the curve. Tune in to stay updated and empowered in the dynamic landscape of real estate.

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