What a great conversation, Tiffany! Thank you so much for having us on-we were absolutely thrilled to have your insights. We're huge fans, so it meant so much to be a part of the discussion with you.
Is the purpose of form 220 to advertise what the seller is willing to pay buyer's agents? If so isn't that the exact thing that the NAR settlement is trying to prevent where buyers agents will steer buyers to the highest buyers commission properties because I noticed on the site I can easily click on a bunch of different properties and get all of their commission rates which would then make it very easy to steer a buyer to the property that pays the most. Now if this was only available to buyers and not available to buyer's agents then maybe it would seem ethical.
Hey! Thanks watching, and for the great question! Our platform provides transparent and easy access to "offers of compensation" for everyone involved in real estate transactions. Traditionally, this information was primarily available to agents. However, our platform empowers buyers and sellers alike to stay informed on these insights and their negotiable nature well before listing or viewing a property. As Realtors, we have an opportunity to embrace greater transparency-meeting consumer expectations and fostering trust. Transparency helps create a fair and equitable marketplace for all!
@@form220 Thanks for the reply. If Buyers agents KNOW what the commissions are, what prevents them from STEERING buyers to the higher commissions sellers, which was the whole point of the NAR lawsuit ?
@@bluesky2145 Totally understand how you can see it like that. The Burnett v. NAR case centered on allegations that the National Association of REALTORS®(NAR) and several major real estate brokerages conspired to inflate commission prices, ultimately harming sellers. The lawsuit specifically challenged practices related to how commission rates are structured and raised questions about the transparency of these fees. The jury ruled in favor of the plaintiffs, and following this decision, the NAR agreed to a settlement. This settlement includes key changes designed to promote greater transparency and fairness-particularly regarding the disclosure and negotiation of commissions. This is where our platform comes in-allowing buyers and sellers to see offers of compensation upfront. This adds a level of transparency that helps deter steering-which we agree is an unethical practice where agents guide clients toward or away from specific properties based on their own financial incentives or improper motivations. So by giving consumers access to this critical information, we're aiming to empower them to make more informed decisions while promoting a fairer real estate marketplace. Tiffany did a great video on the settlement too, if you haven't seen it yet! ruclips.net/video/mSEU1XjBL9g/видео.htmlsi=eL05WOd4GhAqfwwf
Hey, it's James! Totally understand how you can see it like that. The Burnett v. NAR case centered on allegations that the National Association of REALTORS® (NAR) and several major real estate brokerages conspired to inflate commission prices, ultimately harming sellers. The lawsuit specifically challenged practices related to how commission rates are structured and raised questions about the transparency of these fees. The jury ruled in favor of the plaintiffs, and following this decision, the NAR agreed to a settlement. This settlement includes key changes designed to promote greater transparency and fairness-particularly regarding the disclosure and negotiation of commissions. This is where our platform comes in-allowing buyers and sellers to see offers of compensation upfront. This adds a level of transparency that helps deter steering-which we agree is an unethical practice where agents guide clients toward or away from specific properties based on their own financial incentives or improper motivations. So by giving consumers access to this critical information, we're aiming to empower them to make more informed decisions while promoting a fairer real estate marketplace. Tiffany did a great video on the settlement too, if you haven't seen it yet! ruclips.net/video/mSEU1XjBL9g/видео.htmlsi=eL05WOd4GhAqfwwf
We really appreciate you sharing your opinion! There are so many challenges throughout the real estate landscape today. We absolutely agree that there's a great deal of work that needs to be done. For us, we saw a way to solve this particular one in a transparent way, and went for it! But, we'd be thrilled to discuss other challenges you're seeing and work to help solve them with you!
Wow, this was such a fantastic interview!
Isn't this show just the best?!
What a great conversation, Tiffany! Thank you so much for having us on-we were absolutely thrilled to have your insights. We're huge fans, so it meant so much to be a part of the discussion with you.
So glad!
What a great service!
💯
Thanks so much for watching!
Is the purpose of form 220 to advertise what the seller is willing to pay buyer's agents? If so isn't that the exact thing that the NAR settlement is trying to prevent where buyers agents will steer buyers to the highest buyers commission properties because I noticed on the site I can easily click on a bunch of different properties and get all of their commission rates which would then make it very easy to steer a buyer to the property that pays the most. Now if this was only available to buyers and not available to buyer's agents then maybe it would seem ethical.
Hey! Thanks watching, and for the great question! Our platform provides transparent and easy access to "offers of compensation" for everyone involved in real estate transactions. Traditionally, this information was primarily available to agents. However, our platform empowers buyers and sellers alike to stay informed on these insights and their negotiable nature well before listing or viewing a property. As Realtors, we have an opportunity to embrace greater transparency-meeting consumer expectations and fostering trust. Transparency helps create a fair and equitable marketplace for all!
@@form220 Thanks for the reply. If Buyers agents KNOW what the commissions are, what prevents them from STEERING buyers to the higher commissions sellers, which was the whole point of the NAR lawsuit ?
@@bluesky2145 Totally understand how you can see it like that. The Burnett v. NAR case centered on allegations that the National Association of REALTORS®(NAR) and several major real estate brokerages conspired to inflate commission prices, ultimately harming sellers. The lawsuit specifically challenged practices related to how commission rates are structured and raised questions about the transparency of these fees. The jury ruled in favor of the plaintiffs, and following this decision, the NAR agreed to a settlement.
This settlement includes key changes designed to promote greater transparency and fairness-particularly regarding the disclosure and negotiation of commissions. This is where our platform comes in-allowing buyers and sellers to see offers of compensation upfront. This adds a level of transparency that helps deter steering-which we agree is an unethical practice where agents guide clients toward or away from specific properties based on their own financial incentives or improper motivations.
So by giving consumers access to this critical information, we're aiming to empower them to make more informed decisions while promoting a fairer real estate marketplace.
Tiffany did a great video on the settlement too, if you haven't seen it yet! ruclips.net/video/mSEU1XjBL9g/видео.htmlsi=eL05WOd4GhAqfwwf
Hey, it's James! Totally understand how you can see it like that. The Burnett v. NAR case centered on allegations that the National Association of REALTORS® (NAR) and several major real estate brokerages conspired to inflate commission prices, ultimately harming sellers. The lawsuit specifically challenged practices related to how commission rates are structured and raised questions about the transparency of these fees. The jury ruled in favor of the plaintiffs, and following this decision, the NAR agreed to a settlement.
This settlement includes key changes designed to promote greater transparency and fairness-particularly regarding the disclosure and negotiation of commissions. This is where our platform comes in-allowing buyers and sellers to see offers of compensation upfront. This adds a level of transparency that helps deter steering-which we agree is an unethical practice where agents guide clients toward or away from specific properties based on their own financial incentives or improper motivations.
So by giving consumers access to this critical information, we're aiming to empower them to make more informed decisions while promoting a fairer real estate marketplace.
Tiffany did a great video on the settlement too, if you haven't seen it yet! ruclips.net/video/mSEU1XjBL9g/видео.htmlsi=eL05WOd4GhAqfwwf
Well ? How does this prevent the STEERING problem ?
In my opinion they are putting to much effort in the wrong thing 🤦🏻♂️
We really appreciate you sharing your opinion! There are so many challenges throughout the real estate landscape today. We absolutely agree that there's a great deal of work that needs to be done. For us, we saw a way to solve this particular one in a transparent way, and went for it! But, we'd be thrilled to discuss other challenges you're seeing and work to help solve them with you!