This is part 3 of our deep dive into the long-term ramifications of the recent civil court decision in the case of Sitzer Burnett v the National Association of Realtors et al.In part 1, we covered the facts of the case and formulated a basic understanding of the impact this will have on our profession as a whole.In part 2 we examined how the four mega-brokerages, RE/MAX, Anywhere, Keller Williams, and Homes Services of America responded to the lawsuit and why.In this episode, we start off with a few updates and clarifications regarding the suit and discuss how we got here in the first place and what individual broker owners can do going forward to restore honor to our profession.Spoiler alert, I believe we brokers brought a lot of this on ourselves

SHOW HIGHLIGHTS

We discuss the Sitzer Burnett vs. National Association of Realtors case and its impact on the real estate industry, including the controversial use of the Per Se Rule in antitrust trials.

I reflect on how the Per Se Rule contributed to a sense of unfairness in the trial, contrasting it with the Rule of Reason which allows for a more nuanced market analysis.

We explore the role of broker-owners in the current state of the industry and how a reliance on organizations like NAR may have led to some of the challenges faced today.

Laci and I examine the shift in the industry towards "transactionists" and predict a brighter future for real estate professionals who adapt to changing representation models.

We scrutinize the dependency on third-party lead sources like Zillow and realtor.com, and I stress the need for brokers to reclaim control over their businesses and lead generation.

We discuss the profound implications of COVID-19 on property management, agent ethics, and the strength of the real estate profession as a whole.

I address the concerns with online real estate education and call for a higher standard that promotes connection and quality content.

We talk about the need to elevate industry standards by discouraging the recruitment of individuals solely seeking quick riches and emphasizing the importance of long-term growth.

I discuss the evolution of brokerage standards and the introduction of a scorecard for self-assessment to help agents align with our company's core values.

We advocate for a supportive, accountability-focused real estate industry and confront the challenges realtors face in restoring the honor and reputation of the profession.

LINKS

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TRANSCRIPT
(AI transcript provided as supporting material and may contain errors)

Chris: Hi all Chr

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