April 17, 2025 • 30 mins
C.C.P. - Clear Co-operation Policy, and what eXp Realty is doing to help their agents. Confused About Making Money in Real Estate? Let’s Clear It Up.
In this video, we’re diving into how you can actually make money in real estate—without all the confusion and overwhelm. Whether you're brand new or just trying to navigate all the noise, I’m breaking it down in a way that’s real, practical, and easy to follow.
We’ll also talk about the C.C.P. (Clear Cooperation Policy)—what it means, why it matters, and how it impacts agents and clients alike in today’s real estate world.
And if you’ve been wondering what eXp Realty is all about, I’ll share exactly how they’re helping their agents succeed with the tools, support, and freedom you don’t always find elsewhere.
Join Our Community: Share your experiences and thoughts about this episode in the comments below!
🌐 Website: https://www.byrdhouse.team/ 🌐 https://oregonluxurygroup.com/
Watch the video ep on our YouTube here: https://youtu.be/5bmpHao85_E
#RealEstateExplained #CCPRealEstate #eXpRealty #RealEstateTips #HowToMakeMoneyInRealEstate #RealEstateAgents #PassiveIncome #ClearCooperationPolicy
In this video, we’re diving into how you can actually make money in real estate—without all the confusion and overwhelm. Whether you're brand new or just trying to navigate all the noise, I’m breaking it down in a way that’s real, practical, and easy to follow.
We’ll also talk about the C.C.P. (Clear Cooperation Policy)—what it means, why it matters, and how it impacts agents and clients alike in today’s real estate world.
And if you’ve been wondering what eXp Realty is all about, I’ll share exactly how they’re helping their agents succeed with the tools, support, and freedom you don’t always find elsewhere.
Join Our Community: Share your experiences and thoughts about this episode in the comments below!
🌐 Website: https://www.byrdhouse.team/ 🌐 https://oregonluxurygroup.com/
Watch the video ep on our YouTube here: https://youtu.be/5bmpHao85_E
#RealEstateExplained #CCPRealEstate #eXpRealty #RealEstateTips #HowToMakeMoneyInRealEstate #RealEstateAgents #PassiveIncome #ClearCooperationPolicy
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:14):
A right, all right, all right, all right, all right,
all right, now you doing everybody? Good to see everybody?
How are you today? I see nothing but facing nobody's lives.
It's okay. You guys are uh, you guys are there?
So good morning to everybody. How are we doing? How
are we doing? Really good? Amazing? Alita Nick, good to
(00:35):
see everybody. We are going to be talking to Hey, Jacob,
good to see you man. How you doing. We're going
to be talking about something really kind of important right now.
We're going to be talking about what's going on in
the news with the CCP Cleric Cooperation Policy. And then
really the other piece of that is what's the expiece
(00:57):
position on it with some of the other companies. I'm
in an expagent and so I'm inside that particular example
of it, all those brokeer gnostic you know, production based
call this affects all of us, and it affects the
mindset of how people are doing things as well, which
is the key, the key part of this in my opinion.
(01:17):
Right so when we look at this from a perspective
of what is best for the consumer, which is what
the clear Cooperation Policy is all about, right, that's the
main focus of the CCP. So when you look at
that from that perspective, everything that's been going on with
the lawsuits and nar national associations and realtors, all that
(01:40):
stuff's going on is the idea of who controls the
data and then how you show properties and what's the
relationships and all that stuff. We're going to be focused
on the position of where are they coming from a
position of consumer protection? Right? And so again I'm going
(02:00):
to name some companies in this call. It's not meant
to disparage anybody. I'm a coach. This is my opinion
and my opinion only, right, But from my perspective what
I've gathered, I want to share that with you today
and specifically kind of how this may have just rattled
the industry. Again, there is a compass. Specifically, there's a
(02:21):
lot of other companies that have dabbled with this, and
there's a lot of brokers that follow this philosophy and
it's kind of an I think it's an old shilosophy
of internal listening. Right. We had the ability to have
internal listings back when I joined the business see two
thousand and three. When I joined I was with Cole
(02:42):
Banker and we had office exclusives, right, they're only exclusive
to us. And then Windemere came out with exclusives, and
now they brand their signs with exclusives. Again, this is
just an overreaching brand description of my experience. And we
used to have internal listings that stayed there. Now there's
good reason to have internal listings. Celebrities, people that work
(03:06):
for the Department of Justice in Reading, California. When I
was there, we worked a lot with the head of
Narcotic Task Force. We did all the chief please and
all those things. We sold all those houses. We're blessed
to be in that law enforcement community. That's a great
example of when to sometimes leave a property off the MLS.
(03:27):
But clear Cooperation Policy CCP that you'll hear me talk
about is really about what's best for the consumer, right
the consumer first, there's an argument that there are absolutely
some listings that would be better served to be private.
Let's say Bill Gates listed his house personally. You don't
need to have a one hundred million dollar property on
(03:49):
the MLS. Right. That's one example of that policy being
needed to be there. The other side of it is
maybe it's somebody who works in law enforcement RU introduction.
Maybe they're in witness protection. Who knows they still have
property to buy and sell. Those things need to be
withheld from the public. That's the whole purpose. They're being
withheld from the public. But the argument now with some
(04:12):
of the companies leading the way on one side of
the of the fence, and then honestly exp is leading
from the other side of the fence. This is not
a fight between the two. This is just differenties that
I'm going to be talking about today. So Compass is
now promoting pretty heavily. They're internal listing, and I've talked
(04:33):
to a couple couple couple of Compass agents in the
last couple of days to get their opinion of it.
They vary. I'm going to share those today. And then
obviously I've followed what the CEO of exp Prey has doing.
And the big news this week that I think is
important to you is Zillo now came out. I'm gonna
show you the article in just a minute. Zillo came
out and said we actually are going to them. I'm
(04:55):
mute a couple of people that are just not muted,
just so we have clean there we go. I think
we're good if you're not muted, just mute yourself and
then if you want to talk, just speak up. There
you go, Thank you. So Zillo came out this week
and kind of responded to what was going on with
the CCP and said, we're no longer going to allow
(05:17):
for the lifetime of the home them to be on
Zillo if they're withheld from the MLS. So MLS rules
very state to state, but on an average it's within
the first twenty four hours. Right. There's some that have
three days, some have one hour. Throughout the hundreds and
hundreds of MLS's but the bottom line is you can't
(05:38):
private market. You can't pocket listing. Right you used to
you hear that a lot. You don't hear it as
much anymore. But pocket listings I got in my pocket.
It's not in the world. It's not on the MLS.
Zillo came out and made a very bold statement. It
started with exp announcing that they were going to partner
with Zillo in this that every single listing goes active,
(05:59):
there's nothing and they're on the same page with this, right,
and so Zillo came out this week and said that
any promotion your own website a sign in the yard,
an email, anything that is away from the public's view
of being able to see that property is considered a
(06:21):
pocket listing or a private listing. It will no longer
be allowed on Zilo, no hour in the future. So
that penalizes pretty significantly the seller in this particular claim.
And now yesterday Redfin jumped on and so we're doing
that as well. And now Redfin and Rocket recently partnered,
and so that's a we're talking about the number one
and number two and number three sites in the nation
(06:42):
are all going down this direction, right, And it's so interesting.
I've got to be honest with this. It would be
out of integrity if I wasn't. I've been on multiple
sides of this through the years. I've been on multiple sides.
When I got into the business in two thousand and three,
like some of you I see on the call, the
was amazing. Everybody wanted Zillo. We were fighting for zip codes,
(07:04):
and all of a sudden they became the Antichrist because
Zillo all of a sudden controlled all of our data.
We gave it to them, right, we allowed them and
all the MLS's throughout this chain of time, I can
see a couple of nodding heads of the people have
been around a long time, and we gave them all
the data and then all of a sudden they became
the number one search engine selling our leads back to us. Right,
we list the house, we put our listing on Zilo.
(07:26):
Zillo says, a good job. By the way, we've got
a leader. We're going to sell back to you. Right.
And through transition that's gone everything from premier agents to
now flex teams to really a transitional component throughout Zillo
to where now they're really focused on flex teams primarily. Right,
it's hard to have traction in Zillo. Again, speaking from
(07:50):
my experience from a coaching perspective ten years blah blah blah,
but it's hard to get traction as a single agent
unless you're in Zillo Flex or somewhere around that environment.
That's the directions Zilla is going, and it moves away
from the you know, it moves away from the single
agent getting paying one hundred and fifty dollars two hundred
(08:10):
three hundred dollars per lead to now a transactional based
commission split, so they get a twenty five thirty five
fifty percent referral fee in that transaction and it's pay
when closed, which agents are typically much more receptive to do.
But what I want to do is I'm going to
show you a couple of documents. We're going to go
through those together, leave a little time for Q and A.
(08:32):
At the end of this coaching call, I want you
to say, Okay, I understand what this is now at
a higher level, and if you have more experience than me,
I'm telling you this is fairly new for all of us.
But I take pride in trying to be in front
of these things. I want to hear your your beliefs,
if you're educated on it and you have something to share, right,
not just an opinion necessarily, But we'll Q and A. Okay,
(08:52):
But as we go, I want to take you to,
first of all, the policy that came out. I think
these kind of go in order, if you will, okay,
So first of all the policy that came out, and
let me see if I can move this over here.
(09:14):
So the first I heard about it was this week
on Monday of last week. I apologize when Leo Preja,
which has been an outspoken voice for CCP and all
the things along that line from the lawsuit, when the
lawsuit came out, we came out and basically said, we're
just not compensating by our agents anymore. It's the listing
(09:35):
a It's the listings the seller's responsibility to compensate them,
not the listing agents. So we decoupled the transaction between
seller agent buyer agent. That happened as an industry, but
a lot of confusion, A lot of companies were in
the middle. Leo came out and said our new agreement
was Zillow ensures all exp listings are readily available and
contributes to a more efficient and transparent marketplace. This partnership
(09:58):
is about creating value and trust, which is which are
essential in today's rapidly evolving real estate landscape. So he
came out Monday before anybody mentioned anything about this and said,
we're partnering with Zillo to make sure every single listing
is there and Zillo's belief is aligned with ours. Right,
So I talked about that Zillo kind of transitional period
(10:20):
through all these things. Ten years ago. Agents were really
on the Zillo hate bandwagon. In my opinion from a
coaching perspective, right, it was the tough thing over here
that nobody wanted to be involved with, but there's still
these relationships we need to do. Zillo's kind of coming
back around full circle now really advocating to show all
the properties, and there might be reasons for that, but
(10:42):
I like what Leo came out and said. And then
so what happened is this week we started getting some
of these policies coming out. Now. Consumlar Policy Center is
a it's basically a I don't know what you want
to call it. It's kind of like aitution that's looking
at the laws and research and all this stuff about
(11:04):
what's going on with consumer protection, anti consumer private listing
networks CCP all the things right. So basically it says
on I'm going to just paraphrase it, but on Zillo
on Washington, I'm sorry, Washington DC. On April tenth, Zilla
announced that, beginning in May, it will no longer list
properties from private listings of brokers who are publicly marketing them.
(11:28):
This market includes social media, emails, yard signs, everything right,
no pocket listings. This initiatives represents an effort to stop
or at least slow down the efforts of Compass and
other big brokers to dominate the residential brokers industry and
disadvantage consumers through private listing networks. Private listing networks limit
buyers access to homes and sales and blah blah blah,
(11:49):
and it's disadvantageous to choices that most sellers, including Consumer
Policy Center Wendy Glitch talked about. Right, So in a highlight,
they're talking about this. It's almost kind of a turf
war between ideology of should we be allowed more flexibility
to do pocket listings when the seller supposedly wants it right?
(12:13):
And then what's the relationship of the buyer or i'm sorry,
the seller's agent to represent that seller correctly and getting
their brand marketed the most. There's been multiple studies that
Zillo has done. You could look all the stuff up.
I'm talking about multiple studies by Zilo and other industry
leaders that the seller is at a disadvantage when it's
(12:35):
not on the MLS. They just don't get as much
money for it. There's proven like they looked at I
think it was like one hundred million listings or something ridiculous,
and then Compass did their own study and said that
they came up with the opposite Right, And this is
somewhat in this article and by the way. I will
post these articles in the chat for you, so if
you want to look them up, I'm happy to help
(12:57):
with that. So that's the first one. I just want
to be trans I'm going to post it into the chat.
If you want to copy it, save it for later, whatever,
Read it for now. It's all good, but I'm gonna
keep rolling. But it's talking about how compassifically as a
company is looking to promote double ending their transactions from
(13:20):
a off market thing, right, And they're talking about days
on market being really really important and some of the
other things that the MLS has rules and guidelines around me.
All right. So the other thing that came out was
yesterday April fourteenth, redfin takes its own stand against CCP
delayed listings as well. Redfin is not posting the listings
(13:43):
that have been publicly marketed before being shared under the
MLS and IDx feeds. Now, I'm not part of housing Wire.
I have the whole article, but I want to share
that with you, And there's ways to look at the article.
Just google it. You'll find the article for free without
registering for housing Wire and so on. I'm part of
several others, but just not particularly Housing were but the
(14:03):
nuts and bolts of this was Redfin may have been
acquired by Rocket, but they still operate large listing portal
and doesn't want the industry to forget it too. Has
skin in the debate surrounding National Association Realtors cler cooperation policy.
According from a statement from Redfin, Redfin will not publish
any listings that have been publicly market before shared with
(14:24):
all real estate websites via the MLS. So again now
we have Behema Zillow, we have Behemoth, Redfinn, Rocket Reach
recently acquired Redfin. Rocket's also acquiring the largest I think
it's one of the largest top three mortgage servicers in
the nation. So there's these huge players coming into this
(14:45):
saying we want the data to be on the MLS's right.
So we have nar that people have taken sides on
as well National Association Realators and their policies, and then
we have what's best for the particular sell it, what's
best for the industry from a buyer's side and a
seller side. I think another notable article that just came
(15:08):
out was and it's fairly unrelated, but it came out
yesterday as well, and they tried to sell their home
without a real estate agent. Here's how it went. And
there's two stories in here. The first story is great,
they were well educated, they had just used an agent,
and they sold their home on their own and they
were happy. And then they had one of the bad
stories that talked about how the agent kept it off
(15:30):
the MLS, it wasn't available and all the things. So
there's obviously two trains of thought to this. I just
want to give you an example of what I've been
reading as far as what's going on with this. I'm
going to copy this and put it in Chat two
just to be fair. Okay, So that's a CNN article
that talks about the pluses and minuses of this. The
(15:53):
other thing I'm going to share private. I was emailing
and communicating with a good friend of mine that's a
come agent, and I said, I want to be neutral
from a coach's perspective, so I can coach and aid
and train and communicate effectively. What's your take on it?
From your side? You know, I expected like there to
be an obvious posture that is valuable, right, And I'm
(16:18):
going to show you this with respect to them. So
I'm not going to show you who came from and
so on. But I want to show you a couple
of things. So first of all, he sent me this
article that was a Friday Flash and it's a conversation
from a guy named Brian Barrerow. He's in Portland area
and he is you know, he has thousand what information.
(16:40):
I think it's thousand what companies or something, but they
do real estate related information, similar to Housing Wire and
some of the others. But I thought it was really
interesting because he talks about and I'll kind of read
through this real quick. So Yesterday's he'll announced the listings
market public publicly but off the MLS will not be
(17:01):
allowed on Zillo. Right. This includes Compass private exclusives, which
is their program they're talking about, which are effectively marketed
publicly to in the aggregate to drive buyer engagement. Under
the new policy, listing start here and will never make
it Gzillo's apps or websites ever. Okay, this is a
bold move, and just like Compass doesn't test intense private
(17:23):
listing push this is entirely understandable from a business perspective.
To point out that everybody involves motivated by financial self
interest is to belabor the obvious. Right, and while it
is true that the lens of financial self interest has
been fogged up here with lots of painting panting about principles,
the self interested party can also be right on such
(17:43):
a principle. Two things can be true at once. Imagine that. Anyway,
here's his thoughts. This is just his individual, individual thoughts,
and he's a thought leader in the real estate space.
My thoughts went immediately to the listing agent seller conversations
that will now take place, and in contortions they will require.
So I started writing one out, a completely made up
(18:05):
one imagined by me. Right, we are we join our
listing agent and seller mind seller midstream. Now, if you choose,
there's kind of a dialogue here, right, objection handling. Now,
if you choose to go with the three phase marketing
system for your home, one thing is your home won't
show up on Zillo. So this is where we start with, Wait,
(18:28):
hold on what not on Zillo? Oh, it's not a
big issue because we're going to get it on homes
dot Com, which is the competitors Zilo. And yes, it's
like being for houses, right google bing and what's being
never mind? The point is why won't Zillo show my
home when we do this three phase listing? Because Zillo
is trying to limit your choice as a seller. But
(18:49):
why would I choose to have home not show up
on Zillo? Because Zillo exposes you to the days on
the market. That is what we call a negative insight.
What meaning if people see that your homestays on the
market too long, that's a problem. Why would my homestay
on the market too long? Okay, well let's look, this
is really about testing a price and engaging demand. But
(19:09):
aren't you supposed to be the expert. Why can't we
just price it right out of the gate, or maybe
you ask some of your colleagues for their opinion before
we go forward. I totally am, I will. It's just that.
Let me say this. You know how you can buy
a Gucci handbag and a Gucci store right? Making something
feel exclusive drives interest, makes it special. See, my home
is not a handbag. No, I know it's an analogy,
(19:32):
but that's got that But Zillo, Yeah, it's got to
be on Zillo right, but it will be teased on
Compass dot com as private exclusive, meaning coming soon. This
will build interest and allow you to test the waters
for demand. I'm talking about selling my house, not testing
the waters. This seems complicated. And then not until phase three.
(19:54):
This is kind of what their argument is. But Donald
relators use the MLS, Yes we do, but putting your
home on the able can jeopardize your privacy. But I'm
leaving my house. What's the whole point? Who cares? What
this is really about? Your rights as a homeowner. No
one's standing up for you, and who is the National
Association of Realtors tell you how you can and cannot
(20:14):
sell your home? Right, So they go through this dialogue
and it's like, okay, National Association of what this all
seems really confusing. I just want to sell my house.
And all I know is it seems like not being
on Zilla is kind of dumb. I understand. But you
know many companies test products with a smaller audience prior
to launch, right, Comma, this is not a test, I understand.
I'm not sure you do. So that's kind of a
(20:36):
dialogue how this can go with sellers when they don't
understand how this benefits them and the other kind of
important part of this. And again this is strictly I
cut out everything so you can't see anything. This is
a dialogue between him and I, and I said, from
a Compass perspective, what is your thought on this? Because
you know he thought that he thought that the Compass
(20:59):
exclusives was pretty sexy a couple months ago when we
chatted about it, and he said, hey, coach, not sure
what article you're referring to. I was talking about these
two I just showed you, but probably relating to the
Zillo redfin plan not including Compass listings and their sites
if they're first listed on Compass Private Exclusive. I'm against
Compasses plan to privatize their listings in favor of their
(21:21):
agents and attempt to double end the transactions. I believe
it's not the best interest of the consumer. Without full
exposure and availability all buyers, there's a way the sellers
can get the best prices for the home, how about you.
So that was a question for me right and again
that was a private dialogue between him and I. So
I removed all the things that would relate to that.
But it was really valuable for me because that's what
(21:43):
I'm thinking in my mind. How can the Compass agents
feel like they're best serving It felt like when I
was back in the cold world banker days when we
had the internal office listings only they were pocket listings
and you had to call a coal banker agent and
then went to the updesk and to get that access
to that information. Even agents would call and then we'd say, hey,
(22:03):
we're cooperating. We're not cooperating, right, So when I look
at this clear cooperation policy the CCP, I believe that
there are going to be companies in the future that
are in the next class action lawsuit if they do,
in fact go the direction of keeping listings away from
the MLS, even if it may be circumstantial to a
(22:26):
specific seller. Right, there are absolutely times that a seller
should withhold their information, like I discussed in the beginning
of the call. But this is my take on it, right,
This is for communication and maybe even argumentive sake. But
I'm going to open up for Q and A. I'm
(22:46):
going to look at the chat so I can answer
anything that might come up. But I thought this was
a relevant and important topic to have in my weekly
coaching calls because this happened all in the last six
or seven days, and I do think there's going to
be a lot of misunderstanding in the market between competing
companies about what this messaging means and how some companies
(23:08):
are handling this. I don't know exactly what companies. I've
heard of several that are following the ideology of Compass
on this versus the ideology of the others. And so
I'm not casting stones. I just want to have a
conversation Stephanie. Yes, ma'am, how are you doing? Good to
see you.
Speaker 2 (23:29):
There we go.
Speaker 3 (23:30):
Hi.
Speaker 2 (23:31):
Yeah, hello, Hey, I'm sitting in the driveway in front
of a listing appointment. Yeah, thanks for the time.
Speaker 4 (23:39):
So we have exp Exclusives, which is I've used it
as a kind of a coming soon platform that's part
of my marketing plan in my list presentation.
Speaker 2 (23:52):
What do you think is going to happen to that platform?
Speaker 1 (23:55):
Leo talked about that. It is every listing will get
onto the EXP Exclusives, which is basically our zend list right.
Our zend list is our national database that's kind of
like exp Exclusives. The idea with that is, so we'll
have a national operation of an MLS type formatted data,
but the data will all be shared to the MLS
(24:15):
unless there's an exclusive withholding it of the MLS for
specific reason right that still exists amongst all brokerages. Just
so you know, there's just brokerages that are taken to
posture that they're going to private market exclusive everything from
being on the MLS. And that's what Zillo and Redfin
(24:37):
listen they have all the Zillo and Redfin have the
power right because they're so big and behemoth. The NAR
has already said that's not accurate. It should not be exclusive.
It needs to be on the MLS. That's part of
the MLS rule. But that's why there's companies moving away
from NAR through this process of this CCP. My belief
is I think people will look at Zen list that
(24:59):
we purchase e XP did and also the XP exclusives
as an argument to say, well they have it, we
have it. I heard from Leo the other day and
I probably can't repeat it perfectly, but he said, all
of our listings are syndicated period, end of story. We
want to market it everywhere. He's at the top of
the mountain yelling this from an EXPCE perspective, and he said,
(25:22):
we will lead the way in preserving the consumer first right.
So we're real estate company, we have a fiduciary obligation
to the consumer, buyer and seller, and there is just
enough data now to show that, and it seems logical
and even you know, normal that if you expose it more,
(25:43):
you're going to get more dollar for that particular property.
Hopefully that answered your question, we do not have an
off market category. I thought it was that as well.
I thought zen List in the XP exclusives was that
he said it's not that. He said that it has
to be posted within twenty four hours.
Speaker 3 (26:05):
Oh okay, well, thanks for the clarification. I guess I've
been lying to everybody for a while.
Speaker 1 (26:10):
Now, and that's the reason for this is because this
is still a fluid thing. You haven't been lying seventy
you have the information that you have today, So do
I write I have a different perception today than I
did two weeks ago. I was like, no, you can
do that long as the seller scigens, as long as
you do these things, but we're actually acting against what
the cleric cooperation policy is for.
Speaker 3 (26:31):
Yeah, and one more question, do you know is this
based on the property or the agent? So let's say
a couple hypotheticals they go on for set by owner.
Speaker 2 (26:43):
Everyone's wondering how that's being affected.
Speaker 4 (26:45):
And then also if they're listed with an agent and
then they want to switch agents, are they mixed based
on their address.
Speaker 1 (26:54):
That's a great question. And when I read through the
Zillow post, it was the life of the address, which
doesn't seem correct, right. It seems like it should be
the life of the transaction, right, Yeah, So if it's
the life of the transaction, that means there's some cycle
of time, whether it's a year or whatever, the period
(27:16):
of time is that it will an agent Compass deletes
it off Zillo says it's off your band. Another agent
takes it over to me. It should be available to
be regurgitated and used again on Zillo. But by the
letter of what I'm reading, it sounds like it's it's
a very stiff penalty that the seller needs to be
aware of, not just the agent.
Speaker 3 (27:38):
But if they're if they're marketing it for sale by
owner and it's not totally different, that doesn't apply.
Speaker 1 (27:45):
It does not apply. So the seller, the for sale
by owner agent doesn't have any relationship with NR and
the rules of NAR, so they can do anything they want.
They can put on Zillo or not. It's totally up
to them. It's the agent's fiduciary responsible to both nar
and then the client. And that's that's what keeps coming
up at the top of this.
Speaker 2 (28:05):
Okay, awesome, thanks Randy.
Speaker 1 (28:07):
Mind and more to follow obviously in our you're in
my in my personal company and organization. We'll be putting
out much more about this as we go. But I
thought it was so fresh. Some of these things came
out yesterday. Like I said, so in digesting all this,
it really sat with me that I think we need
to talk about this. We need to understand who's benefiting,
what the downsides are, and then how to protect ourselves
(28:29):
from these communications and conversations. I've taken lots of pocket
listings in my career for a lot of different reasons. Right,
most of the most of the time, you're thinking about
how can I pre market this for two weeks? But
let's be honest, why do I want to pre market
it for two weeks? I want to gain interest now,
I want to get buyers that I can handle myself.
And I'm just being honest, right, And so I think
(28:50):
we need to look at that honesty. If I had
to go back in time and I looked at it
from a jury's perspective or or God's eyes. I was
doing it selfishly. I wasn't benefitting the seller because it
was the best way to get them the most money
for their house.
Speaker 2 (29:04):
True, awesome, thank you that it comes from.
Speaker 1 (29:07):
You're welcome. All right, wrapping up, anybody else, have any
last minute questions anything I can help Q and A
Wise And obviously you can always go to my social
media and chat with me and message me whatever you like.
We're going to post this on our channels as well.
But you know, I wanted to bring it up. I
wanted to talk about it. It's some of the podcast
type topics we're going to be sitting with as well
(29:28):
and speaking with some of these people that are making
these decisions. But what I love, or what I'm most
aware of, is the DOJ Department of Justice. They're getting
involved in this stuff, with that big lawsuit that happened
with the molar lawsuit and all the things that really
kind of changed our industry. Everybody's looking now, and I
(29:48):
think the next big wave of lawsuits and especially class
action are going to be specifically on this topic. So
it's really important that we watch for it and be
understanding of it. All right, all right, cool, Hey, thank
you everybody for being here. Hopefully it was valuable. Hopefully
you learned a little bit. Hopefully it didn't fry your
brain too much. Like Lee Wilson. I can see he's
(30:10):
got sunglasses on ahead. But do you guys have a
great day. I appreciate you being here. Thank you very much.
And James stick around. I'm gonna meet with you after
this call. But everybody, have a great day. I appreciate you.
Thanks a lot. We'll be here every Tuesday except next Tuesday.
By the way, I'm out of town. Next Tuesday an event,
but we're here every Tuesday in rotation eleven thirty Pacific.
(30:31):
Glad you're here. Thank you much.
Speaker 3 (30:32):
Bye.
A right, all right, all right, all right, all right,
all right, now you doing everybody? Good to see everybody?
How are you today? I see nothing but facing nobody's lives.
It's okay. You guys are uh, you guys are there?
So good morning to everybody. How are we doing? How
are we doing? Really good? Amazing? Alita Nick, good to
(00:35):
see everybody. We are going to be talking to Hey, Jacob,
good to see you man. How you doing. We're going
to be talking about something really kind of important right now.
We're going to be talking about what's going on in
the news with the CCP Cleric Cooperation Policy. And then
really the other piece of that is what's the expiece
(00:57):
position on it with some of the other companies. I'm
in an expagent and so I'm inside that particular example
of it, all those brokeer gnostic you know, production based
call this affects all of us, and it affects the
mindset of how people are doing things as well, which
is the key, the key part of this in my opinion.
(01:17):
Right so when we look at this from a perspective
of what is best for the consumer, which is what
the clear Cooperation Policy is all about, right, that's the
main focus of the CCP. So when you look at
that from that perspective, everything that's been going on with
the lawsuits and nar national associations and realtors, all that
(01:40):
stuff's going on is the idea of who controls the
data and then how you show properties and what's the
relationships and all that stuff. We're going to be focused
on the position of where are they coming from a
position of consumer protection? Right? And so again I'm going
(02:00):
to name some companies in this call. It's not meant
to disparage anybody. I'm a coach. This is my opinion
and my opinion only, right, But from my perspective what
I've gathered, I want to share that with you today
and specifically kind of how this may have just rattled
the industry. Again, there is a compass. Specifically, there's a
(02:21):
lot of other companies that have dabbled with this, and
there's a lot of brokers that follow this philosophy and
it's kind of an I think it's an old shilosophy
of internal listening. Right. We had the ability to have
internal listings back when I joined the business see two
thousand and three. When I joined I was with Cole
(02:42):
Banker and we had office exclusives, right, they're only exclusive
to us. And then Windemere came out with exclusives, and
now they brand their signs with exclusives. Again, this is
just an overreaching brand description of my experience. And we
used to have internal listings that stayed there. Now there's
good reason to have internal listings. Celebrities, people that work
(03:06):
for the Department of Justice in Reading, California. When I
was there, we worked a lot with the head of
Narcotic Task Force. We did all the chief please and
all those things. We sold all those houses. We're blessed
to be in that law enforcement community. That's a great
example of when to sometimes leave a property off the MLS.
(03:27):
But clear Cooperation Policy CCP that you'll hear me talk
about is really about what's best for the consumer, right
the consumer first, there's an argument that there are absolutely
some listings that would be better served to be private.
Let's say Bill Gates listed his house personally. You don't
need to have a one hundred million dollar property on
(03:49):
the MLS. Right. That's one example of that policy being
needed to be there. The other side of it is
maybe it's somebody who works in law enforcement RU introduction.
Maybe they're in witness protection. Who knows they still have
property to buy and sell. Those things need to be
withheld from the public. That's the whole purpose. They're being
withheld from the public. But the argument now with some
(04:12):
of the companies leading the way on one side of
the of the fence, and then honestly exp is leading
from the other side of the fence. This is not
a fight between the two. This is just differenties that
I'm going to be talking about today. So Compass is
now promoting pretty heavily. They're internal listing, and I've talked
(04:33):
to a couple couple couple of Compass agents in the
last couple of days to get their opinion of it.
They vary. I'm going to share those today. And then
obviously I've followed what the CEO of exp Prey has doing.
And the big news this week that I think is
important to you is Zillo now came out. I'm gonna
show you the article in just a minute. Zillo came
out and said we actually are going to them. I'm
(04:55):
mute a couple of people that are just not muted,
just so we have clean there we go. I think
we're good if you're not muted, just mute yourself and
then if you want to talk, just speak up. There
you go, Thank you. So Zillo came out this week
and kind of responded to what was going on with
the CCP and said, we're no longer going to allow
(05:17):
for the lifetime of the home them to be on
Zillo if they're withheld from the MLS. So MLS rules
very state to state, but on an average it's within
the first twenty four hours. Right. There's some that have
three days, some have one hour. Throughout the hundreds and
hundreds of MLS's but the bottom line is you can't
(05:38):
private market. You can't pocket listing. Right you used to
you hear that a lot. You don't hear it as
much anymore. But pocket listings I got in my pocket.
It's not in the world. It's not on the MLS.
Zillo came out and made a very bold statement. It
started with exp announcing that they were going to partner
with Zillo in this that every single listing goes active,
(05:59):
there's nothing and they're on the same page with this, right,
and so Zillo came out this week and said that
any promotion your own website a sign in the yard,
an email, anything that is away from the public's view
of being able to see that property is considered a
(06:21):
pocket listing or a private listing. It will no longer
be allowed on Zilo, no hour in the future. So
that penalizes pretty significantly the seller in this particular claim.
And now yesterday Redfin jumped on and so we're doing
that as well. And now Redfin and Rocket recently partnered,
and so that's a we're talking about the number one
and number two and number three sites in the nation
(06:42):
are all going down this direction, right, And it's so interesting.
I've got to be honest with this. It would be
out of integrity if I wasn't. I've been on multiple
sides of this through the years. I've been on multiple sides.
When I got into the business in two thousand and three,
like some of you I see on the call, the
was amazing. Everybody wanted Zillo. We were fighting for zip codes,
(07:04):
and all of a sudden they became the Antichrist because
Zillo all of a sudden controlled all of our data.
We gave it to them, right, we allowed them and
all the MLS's throughout this chain of time, I can
see a couple of nodding heads of the people have
been around a long time, and we gave them all
the data and then all of a sudden they became
the number one search engine selling our leads back to us. Right,
we list the house, we put our listing on Zilo.
(07:26):
Zillo says, a good job. By the way, we've got
a leader. We're going to sell back to you. Right.
And through transition that's gone everything from premier agents to
now flex teams to really a transitional component throughout Zillo
to where now they're really focused on flex teams primarily. Right,
it's hard to have traction in Zillo. Again, speaking from
(07:50):
my experience from a coaching perspective ten years blah blah blah,
but it's hard to get traction as a single agent
unless you're in Zillo Flex or somewhere around that environment.
That's the directions Zilla is going, and it moves away
from the you know, it moves away from the single
agent getting paying one hundred and fifty dollars two hundred
(08:10):
three hundred dollars per lead to now a transactional based
commission split, so they get a twenty five thirty five
fifty percent referral fee in that transaction and it's pay
when closed, which agents are typically much more receptive to do.
But what I want to do is I'm going to
show you a couple of documents. We're going to go
through those together, leave a little time for Q and A.
(08:32):
At the end of this coaching call, I want you
to say, Okay, I understand what this is now at
a higher level, and if you have more experience than me,
I'm telling you this is fairly new for all of us.
But I take pride in trying to be in front
of these things. I want to hear your your beliefs,
if you're educated on it and you have something to share, right,
not just an opinion necessarily, But we'll Q and A. Okay,
(08:52):
But as we go, I want to take you to,
first of all, the policy that came out. I think
these kind of go in order, if you will, okay,
So first of all the policy that came out, and
let me see if I can move this over here.
(09:14):
So the first I heard about it was this week
on Monday of last week. I apologize when Leo Preja,
which has been an outspoken voice for CCP and all
the things along that line from the lawsuit, when the
lawsuit came out, we came out and basically said, we're
just not compensating by our agents anymore. It's the listing
(09:35):
a It's the listings the seller's responsibility to compensate them,
not the listing agents. So we decoupled the transaction between
seller agent buyer agent. That happened as an industry, but
a lot of confusion, A lot of companies were in
the middle. Leo came out and said our new agreement
was Zillow ensures all exp listings are readily available and
contributes to a more efficient and transparent marketplace. This partnership
(09:58):
is about creating value and trust, which is which are
essential in today's rapidly evolving real estate landscape. So he
came out Monday before anybody mentioned anything about this and said,
we're partnering with Zillo to make sure every single listing
is there and Zillo's belief is aligned with ours. Right,
So I talked about that Zillo kind of transitional period
(10:20):
through all these things. Ten years ago. Agents were really
on the Zillo hate bandwagon. In my opinion from a
coaching perspective, right, it was the tough thing over here
that nobody wanted to be involved with, but there's still
these relationships we need to do. Zillo's kind of coming
back around full circle now really advocating to show all
the properties, and there might be reasons for that, but
(10:42):
I like what Leo came out and said. And then
so what happened is this week we started getting some
of these policies coming out. Now. Consumlar Policy Center is
a it's basically a I don't know what you want
to call it. It's kind of like aitution that's looking
at the laws and research and all this stuff about
(11:04):
what's going on with consumer protection, anti consumer private listing
networks CCP all the things right. So basically it says
on I'm going to just paraphrase it, but on Zillo
on Washington, I'm sorry, Washington DC. On April tenth, Zilla
announced that, beginning in May, it will no longer list
properties from private listings of brokers who are publicly marketing them.
(11:28):
This market includes social media, emails, yard signs, everything right,
no pocket listings. This initiatives represents an effort to stop
or at least slow down the efforts of Compass and
other big brokers to dominate the residential brokers industry and
disadvantage consumers through private listing networks. Private listing networks limit
buyers access to homes and sales and blah blah blah,
(11:49):
and it's disadvantageous to choices that most sellers, including Consumer
Policy Center Wendy Glitch talked about. Right, So in a highlight,
they're talking about this. It's almost kind of a turf
war between ideology of should we be allowed more flexibility
to do pocket listings when the seller supposedly wants it right?
(12:13):
And then what's the relationship of the buyer or i'm sorry,
the seller's agent to represent that seller correctly and getting
their brand marketed the most. There's been multiple studies that
Zillo has done. You could look all the stuff up.
I'm talking about multiple studies by Zilo and other industry
leaders that the seller is at a disadvantage when it's
(12:35):
not on the MLS. They just don't get as much
money for it. There's proven like they looked at I
think it was like one hundred million listings or something ridiculous,
and then Compass did their own study and said that
they came up with the opposite Right, And this is
somewhat in this article and by the way. I will
post these articles in the chat for you, so if
you want to look them up, I'm happy to help
(12:57):
with that. So that's the first one. I just want
to be trans I'm going to post it into the chat.
If you want to copy it, save it for later, whatever,
Read it for now. It's all good, but I'm gonna
keep rolling. But it's talking about how compassifically as a
company is looking to promote double ending their transactions from
(13:20):
a off market thing, right, And they're talking about days
on market being really really important and some of the
other things that the MLS has rules and guidelines around me.
All right. So the other thing that came out was
yesterday April fourteenth, redfin takes its own stand against CCP
delayed listings as well. Redfin is not posting the listings
(13:43):
that have been publicly marketed before being shared under the
MLS and IDx feeds. Now, I'm not part of housing Wire.
I have the whole article, but I want to share
that with you, And there's ways to look at the article.
Just google it. You'll find the article for free without
registering for housing Wire and so on. I'm part of
several others, but just not particularly Housing were but the
(14:03):
nuts and bolts of this was Redfin may have been
acquired by Rocket, but they still operate large listing portal
and doesn't want the industry to forget it too. Has
skin in the debate surrounding National Association Realtors cler cooperation policy.
According from a statement from Redfin, Redfin will not publish
any listings that have been publicly market before shared with
(14:24):
all real estate websites via the MLS. So again now
we have Behema Zillow, we have Behemoth, Redfinn, Rocket Reach
recently acquired Redfin. Rocket's also acquiring the largest I think
it's one of the largest top three mortgage servicers in
the nation. So there's these huge players coming into this
(14:45):
saying we want the data to be on the MLS's right.
So we have nar that people have taken sides on
as well National Association Realators and their policies, and then
we have what's best for the particular sell it, what's
best for the industry from a buyer's side and a
seller side. I think another notable article that just came
(15:08):
out was and it's fairly unrelated, but it came out
yesterday as well, and they tried to sell their home
without a real estate agent. Here's how it went. And
there's two stories in here. The first story is great,
they were well educated, they had just used an agent,
and they sold their home on their own and they
were happy. And then they had one of the bad
stories that talked about how the agent kept it off
(15:30):
the MLS, it wasn't available and all the things. So
there's obviously two trains of thought to this. I just
want to give you an example of what I've been
reading as far as what's going on with this. I'm
going to copy this and put it in Chat two
just to be fair. Okay, So that's a CNN article
that talks about the pluses and minuses of this. The
(15:53):
other thing I'm going to share private. I was emailing
and communicating with a good friend of mine that's a
come agent, and I said, I want to be neutral
from a coach's perspective, so I can coach and aid
and train and communicate effectively. What's your take on it?
From your side? You know, I expected like there to
be an obvious posture that is valuable, right, And I'm
(16:18):
going to show you this with respect to them. So
I'm not going to show you who came from and
so on. But I want to show you a couple
of things. So first of all, he sent me this
article that was a Friday Flash and it's a conversation
from a guy named Brian Barrerow. He's in Portland area
and he is you know, he has thousand what information.
(16:40):
I think it's thousand what companies or something, but they
do real estate related information, similar to Housing Wire and
some of the others. But I thought it was really
interesting because he talks about and I'll kind of read
through this real quick. So Yesterday's he'll announced the listings
market public publicly but off the MLS will not be
(17:01):
allowed on Zillo. Right. This includes Compass private exclusives, which
is their program they're talking about, which are effectively marketed
publicly to in the aggregate to drive buyer engagement. Under
the new policy, listing start here and will never make
it Gzillo's apps or websites ever. Okay, this is a
bold move, and just like Compass doesn't test intense private
(17:23):
listing push this is entirely understandable from a business perspective.
To point out that everybody involves motivated by financial self
interest is to belabor the obvious. Right, and while it
is true that the lens of financial self interest has
been fogged up here with lots of painting panting about principles,
the self interested party can also be right on such
(17:43):
a principle. Two things can be true at once. Imagine that. Anyway,
here's his thoughts. This is just his individual, individual thoughts,
and he's a thought leader in the real estate space.
My thoughts went immediately to the listing agent seller conversations
that will now take place, and in contortions they will require.
So I started writing one out, a completely made up
(18:05):
one imagined by me. Right, we are we join our
listing agent and seller mind seller midstream. Now, if you choose,
there's kind of a dialogue here, right, objection handling. Now,
if you choose to go with the three phase marketing
system for your home, one thing is your home won't
show up on Zillo. So this is where we start with, Wait,
(18:28):
hold on what not on Zillo? Oh, it's not a
big issue because we're going to get it on homes
dot Com, which is the competitors Zilo. And yes, it's
like being for houses, right google bing and what's being
never mind? The point is why won't Zillo show my
home when we do this three phase listing? Because Zillo
is trying to limit your choice as a seller. But
(18:49):
why would I choose to have home not show up
on Zillo? Because Zillo exposes you to the days on
the market. That is what we call a negative insight.
What meaning if people see that your homestays on the
market too long, that's a problem. Why would my homestay
on the market too long? Okay, well let's look, this
is really about testing a price and engaging demand. But
(19:09):
aren't you supposed to be the expert. Why can't we
just price it right out of the gate, or maybe
you ask some of your colleagues for their opinion before
we go forward. I totally am, I will. It's just that.
Let me say this. You know how you can buy
a Gucci handbag and a Gucci store right? Making something
feel exclusive drives interest, makes it special. See, my home
is not a handbag. No, I know it's an analogy,
(19:32):
but that's got that But Zillo, Yeah, it's got to
be on Zillo right, but it will be teased on
Compass dot com as private exclusive, meaning coming soon. This
will build interest and allow you to test the waters
for demand. I'm talking about selling my house, not testing
the waters. This seems complicated. And then not until phase three.
(19:54):
This is kind of what their argument is. But Donald
relators use the MLS, Yes we do, but putting your
home on the able can jeopardize your privacy. But I'm
leaving my house. What's the whole point? Who cares? What
this is really about? Your rights as a homeowner. No
one's standing up for you, and who is the National
Association of Realtors tell you how you can and cannot
(20:14):
sell your home? Right, So they go through this dialogue
and it's like, okay, National Association of what this all
seems really confusing. I just want to sell my house.
And all I know is it seems like not being
on Zilla is kind of dumb. I understand. But you
know many companies test products with a smaller audience prior
to launch, right, Comma, this is not a test, I understand.
I'm not sure you do. So that's kind of a
(20:36):
dialogue how this can go with sellers when they don't
understand how this benefits them and the other kind of
important part of this. And again this is strictly I
cut out everything so you can't see anything. This is
a dialogue between him and I, and I said, from
a Compass perspective, what is your thought on this? Because
you know he thought that he thought that the Compass
(20:59):
exclusives was pretty sexy a couple months ago when we
chatted about it, and he said, hey, coach, not sure
what article you're referring to. I was talking about these
two I just showed you, but probably relating to the
Zillo redfin plan not including Compass listings and their sites
if they're first listed on Compass Private Exclusive. I'm against
Compasses plan to privatize their listings in favor of their
(21:21):
agents and attempt to double end the transactions. I believe
it's not the best interest of the consumer. Without full
exposure and availability all buyers, there's a way the sellers
can get the best prices for the home, how about you.
So that was a question for me right and again
that was a private dialogue between him and I. So
I removed all the things that would relate to that.
But it was really valuable for me because that's what
(21:43):
I'm thinking in my mind. How can the Compass agents
feel like they're best serving It felt like when I
was back in the cold world banker days when we
had the internal office listings only they were pocket listings
and you had to call a coal banker agent and
then went to the updesk and to get that access
to that information. Even agents would call and then we'd say, hey,
(22:03):
we're cooperating. We're not cooperating, right, So when I look
at this clear cooperation policy the CCP, I believe that
there are going to be companies in the future that
are in the next class action lawsuit if they do,
in fact go the direction of keeping listings away from
the MLS, even if it may be circumstantial to a
(22:26):
specific seller. Right, there are absolutely times that a seller
should withhold their information, like I discussed in the beginning
of the call. But this is my take on it, right,
This is for communication and maybe even argumentive sake. But
I'm going to open up for Q and A. I'm
(22:46):
going to look at the chat so I can answer
anything that might come up. But I thought this was
a relevant and important topic to have in my weekly
coaching calls because this happened all in the last six
or seven days, and I do think there's going to
be a lot of misunderstanding in the market between competing
companies about what this messaging means and how some companies
(23:08):
are handling this. I don't know exactly what companies. I've
heard of several that are following the ideology of Compass
on this versus the ideology of the others. And so
I'm not casting stones. I just want to have a
conversation Stephanie. Yes, ma'am, how are you doing? Good to
see you.
Speaker 2 (23:29):
There we go.
Speaker 3 (23:30):
Hi.
Speaker 2 (23:31):
Yeah, hello, Hey, I'm sitting in the driveway in front
of a listing appointment. Yeah, thanks for the time.
Speaker 4 (23:39):
So we have exp Exclusives, which is I've used it
as a kind of a coming soon platform that's part
of my marketing plan in my list presentation.
Speaker 2 (23:52):
What do you think is going to happen to that platform?
Speaker 1 (23:55):
Leo talked about that. It is every listing will get
onto the EXP Exclusives, which is basically our zend list right.
Our zend list is our national database that's kind of
like exp Exclusives. The idea with that is, so we'll
have a national operation of an MLS type formatted data,
but the data will all be shared to the MLS
(24:15):
unless there's an exclusive withholding it of the MLS for
specific reason right that still exists amongst all brokerages. Just
so you know, there's just brokerages that are taken to
posture that they're going to private market exclusive everything from
being on the MLS. And that's what Zillo and Redfin
(24:37):
listen they have all the Zillo and Redfin have the
power right because they're so big and behemoth. The NAR
has already said that's not accurate. It should not be exclusive.
It needs to be on the MLS. That's part of
the MLS rule. But that's why there's companies moving away
from NAR through this process of this CCP. My belief
is I think people will look at Zen list that
(24:59):
we purchase e XP did and also the XP exclusives
as an argument to say, well they have it, we
have it. I heard from Leo the other day and
I probably can't repeat it perfectly, but he said, all
of our listings are syndicated period, end of story. We
want to market it everywhere. He's at the top of
the mountain yelling this from an EXPCE perspective, and he said,
(25:22):
we will lead the way in preserving the consumer first right.
So we're real estate company, we have a fiduciary obligation
to the consumer, buyer and seller, and there is just
enough data now to show that, and it seems logical
and even you know, normal that if you expose it more,
(25:43):
you're going to get more dollar for that particular property.
Hopefully that answered your question, we do not have an
off market category. I thought it was that as well.
I thought zen List in the XP exclusives was that
he said it's not that. He said that it has
to be posted within twenty four hours.
Speaker 3 (26:05):
Oh okay, well, thanks for the clarification. I guess I've
been lying to everybody for a while.
Speaker 1 (26:10):
Now, and that's the reason for this is because this
is still a fluid thing. You haven't been lying seventy
you have the information that you have today, So do
I write I have a different perception today than I
did two weeks ago. I was like, no, you can
do that long as the seller scigens, as long as
you do these things, but we're actually acting against what
the cleric cooperation policy is for.
Speaker 3 (26:31):
Yeah, and one more question, do you know is this
based on the property or the agent? So let's say
a couple hypotheticals they go on for set by owner.
Speaker 2 (26:43):
Everyone's wondering how that's being affected.
Speaker 4 (26:45):
And then also if they're listed with an agent and
then they want to switch agents, are they mixed based
on their address.
Speaker 1 (26:54):
That's a great question. And when I read through the
Zillow post, it was the life of the address, which
doesn't seem correct, right. It seems like it should be
the life of the transaction, right, Yeah, So if it's
the life of the transaction, that means there's some cycle
of time, whether it's a year or whatever, the period
(27:16):
of time is that it will an agent Compass deletes
it off Zillo says it's off your band. Another agent
takes it over to me. It should be available to
be regurgitated and used again on Zillo. But by the
letter of what I'm reading, it sounds like it's it's
a very stiff penalty that the seller needs to be
aware of, not just the agent.
Speaker 3 (27:38):
But if they're if they're marketing it for sale by
owner and it's not totally different, that doesn't apply.
Speaker 1 (27:45):
It does not apply. So the seller, the for sale
by owner agent doesn't have any relationship with NR and
the rules of NAR, so they can do anything they want.
They can put on Zillo or not. It's totally up
to them. It's the agent's fiduciary responsible to both nar
and then the client. And that's that's what keeps coming
up at the top of this.
Speaker 2 (28:05):
Okay, awesome, thanks Randy.
Speaker 1 (28:07):
Mind and more to follow obviously in our you're in
my in my personal company and organization. We'll be putting
out much more about this as we go. But I
thought it was so fresh. Some of these things came
out yesterday. Like I said, so in digesting all this,
it really sat with me that I think we need
to talk about this. We need to understand who's benefiting,
what the downsides are, and then how to protect ourselves
(28:29):
from these communications and conversations. I've taken lots of pocket
listings in my career for a lot of different reasons. Right,
most of the most of the time, you're thinking about
how can I pre market this for two weeks? But
let's be honest, why do I want to pre market
it for two weeks? I want to gain interest now,
I want to get buyers that I can handle myself.
And I'm just being honest, right, And so I think
(28:50):
we need to look at that honesty. If I had
to go back in time and I looked at it
from a jury's perspective or or God's eyes. I was
doing it selfishly. I wasn't benefitting the seller because it
was the best way to get them the most money
for their house.
Speaker 2 (29:04):
True, awesome, thank you that it comes from.
Speaker 1 (29:07):
You're welcome. All right, wrapping up, anybody else, have any
last minute questions anything I can help Q and A
Wise And obviously you can always go to my social
media and chat with me and message me whatever you like.
We're going to post this on our channels as well.
But you know, I wanted to bring it up. I
wanted to talk about it. It's some of the podcast
type topics we're going to be sitting with as well
(29:28):
and speaking with some of these people that are making
these decisions. But what I love, or what I'm most
aware of, is the DOJ Department of Justice. They're getting
involved in this stuff, with that big lawsuit that happened
with the molar lawsuit and all the things that really
kind of changed our industry. Everybody's looking now, and I
(29:48):
think the next big wave of lawsuits and especially class
action are going to be specifically on this topic. So
it's really important that we watch for it and be
understanding of it. All right, all right, cool, Hey, thank
you everybody for being here. Hopefully it was valuable. Hopefully
you learned a little bit. Hopefully it didn't fry your
brain too much. Like Lee Wilson. I can see he's
(30:10):
got sunglasses on ahead. But do you guys have a
great day. I appreciate you being here. Thank you very much.
And James stick around. I'm gonna meet with you after
this call. But everybody, have a great day. I appreciate you.
Thanks a lot. We'll be here every Tuesday except next Tuesday.
By the way, I'm out of town. Next Tuesday an event,
but we're here every Tuesday in rotation eleven thirty Pacific.
(30:31):
Glad you're here. Thank you much.
Speaker 3 (30:32):
Bye.
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