Latest / This Week in DFW Real Estate / What Real Buying RE/MAX Means for DFW Realtors [2026]

Transcript

What Real Buying RE/MAX Means for DFW Realtors [2026] · This Week in DFW Real Estate

• 0:00
  Speaker 1: No one likes paying taxes that I know of. No
• 0:02
  Speaker 1: one likes legalized theft. Let's just call it what it is.
• 0:06
  Speaker 2: Capital gains are not taxes. They're theft. Who owns Chipotle again, Jesse?
• 0:11
  Speaker 1: I think it's McDonald's. Yeah, it's McDonald's.
• 0:12
  Speaker 2: Right, right. I thought so.
• 0:13
  Speaker 1: I thought so.
• 0:13
  Speaker 2: Could you imagine if all of the McDonald's franchisees went
• 0:16
  Speaker 2: to Facebook the day after they acquired Chipotle and were like,
• 0:19
  Speaker 2: this is why we're a game-changing company? Yeah. You still
• 0:23
  Speaker 2: own McDonald's. You know what I mean? Does that not
• 0:25
  Speaker 2: seem like what we kind of do sometimes in real estate?
• 0:27
  Speaker 1: People want AI just to... do all the work for
• 0:30
  Speaker 1: them so they can sit at home and then take
• 0:32
  Speaker 1: all the credit.
• 0:33
  Speaker 2: And they don't know how hard it is to get
• 0:34
  Speaker 2: AI to actually do all the work for you. You
• 0:36
  Speaker 2: might as well just do the work. And once it
• 0:38
  Speaker 2: gets there, then we probably won't have a job.
• 0:41
  Speaker 1: DFL, turn it up!
• 0:42
  Speaker 2: This is This Week in DFL with your real estate!
• 0:45
  Speaker 2: The weekly podcast built for.
• 0:47
  Speaker 1: Agents who actually get paid!
• 0:49
  Speaker 2: Market moves, listing heat, closing streets! DFL with your agents!
• 1:07
  Speaker 1: All right, welcome back to this week's show. We're excited
• 1:09
  Speaker 1: to be here. The last episode was a really, really
• 1:13
  Speaker 1: good one. So if you didn't go take a listen
• 1:14
  Speaker 1: to that one, we talked about those portable mortgages.
• 1:18
  Speaker 2: Yeah. It's going to be really interesting to see that
• 1:21
  Speaker 2: story continue to unfold. I think there's going to be
• 1:23
  Speaker 2: more to come on that.
• 1:24
  Speaker 1: And in today's show, we're going to talk about, obviously,
• 1:27
  Speaker 1: we want to hit on the news because this week
• 1:29
  Speaker 1: in DFW Real Estate is about what's trending in the news,
• 1:32
  Speaker 1: as well as what we want to talk about is...
• 1:37
  Speaker 1: The potential, President Trump kind of mentioned getting rid of
• 1:40
  Speaker 1: capital gains, what that could do. But the main thing
• 1:44
  Speaker 1: is you've got to support our sponsors, right? And I
• 1:47
  Speaker 1: don't think I did last week's show of sponsors, so
• 1:49
  Speaker 1: I apologize for that. I do it every day. You
• 1:51
  Speaker 1: need to promote. That's right. Brian's got the hat on.
• 1:53
  Speaker 1: You need to promote and support Homeward Property Management. So
• 1:56
  Speaker 1: if you're looking, you've probably got clients that are asking
• 1:59
  Speaker 1: about leasing their house out, right? These accidental landlords. Their
• 2:04
  Speaker 1: house isn't selling for what they think it's worth, or
• 2:05
  Speaker 1: maybe they can't sell it because they're upside down and underwater,
• 2:08
  Speaker 1: but they need to move. Get with Homeward Property Management.
• 2:11
  Speaker 1: They are designed to help find that best tenant. They
• 2:13
  Speaker 1: are designed to be the professional management, the buffer in
• 2:16
  Speaker 1: between to make sure that your client and their asset
• 2:20
  Speaker 1: is protected. So go to Homeward at DFW.com and tell
• 2:24
  Speaker 1: them that the guys from this week in DFW Real
• 2:27
  Speaker 1: Estate sent them over to you, as well as you
• 2:30
  Speaker 1: probably need a home warranty. Actually, I was at football
• 2:32
  Speaker 1: practice yesterday. And for whatever reason, everyone's old now. And
• 2:37
  Speaker 1: so either we talk about health-related issues or housing issues.
• 2:41
  Speaker 1: And I come back from a call, and they're talking
• 2:44
  Speaker 1: about home warranties. And it turns out one of the
• 2:48
  Speaker 1: dads there is good friends with the founder of Armadillo
• 2:52
  Speaker 1: and knows Theron, loves Theron Smith at Armadillo Home Warranty.
• 2:56
  Speaker 1: And they had nothing but raving reviews. There's one family
• 2:59
  Speaker 1: over there that's burned through like four or five warranty companies,
• 3:02
  Speaker 1: and they love Armadillo. So when it comes to the
• 3:05
  Speaker 1: best residential home warranty company in the United States, it
• 3:09
  Speaker 1: sounds like, because they're in 50 states, just go to armadillo.one
• 3:12
  Speaker 1: and tell Theron, connect with Theron Smith, and just let
• 3:15
  Speaker 1: them know that the guys here on the podcast sent
• 3:17
  Speaker 1: it over to them.
• 3:18
  Speaker 2: Absolutely. Let's dig in. We've got to get going today. Officially...
• 3:24
  Speaker 2: Monday morning, we shoot these on Thursdays, but on Monday morning,
• 3:27
  Speaker 2: the deal closed.
• 3:29
  Speaker 1: What's the deal?
• 3:30
  Speaker 2: The real deal closed. They've acquired Remax officially. I'm going
• 3:37
  Speaker 2: to sound like a really silly person right now. It
• 3:40
  Speaker 2: says Remax is 145,000 agents in 120 countries. Jesse, how
• 3:45
  Speaker 2: many countries are there?
• 3:46
  Speaker 1: 120 is what it says on here.
• 3:47
  Speaker 2: No, but in the world. I think it's only like
• 3:50
  Speaker 2: 197 countries. I think it's 121. You think it's 121?
• 3:54
  Speaker 2: They're only not in Antarctica, but that's not a country.
• 3:57
  Speaker 2: How many countries are there? Over, under at 175. I
• 4:01
  Speaker 2: think it's 197. How many countries? There we go. It
• 4:08
  Speaker 2: is 195. I was pretty close. I thought 197. But,
• 4:12
  Speaker 2: you know, there's a lot going on in the Middle East.
• 4:14
  Speaker 2: That number could fluctuate forever.
• 4:16
  Speaker 1: Who knows whether there's an office there or not.
• 4:19
  Speaker 2: Yeah. No, whether that's, you know, Germany was two countries
• 4:22
  Speaker 2: at one point. Yeah.
• 4:23
  Speaker 1: You know, Here's my take. I saw all the posts,
• 4:31
  Speaker 1: and we're bad about this as real estate agents of hyping,
• 4:35
  Speaker 1: overhyping things. That's not really a big deal. And the
• 4:39
  Speaker 1: more that I thought about this, because I saw some
• 4:40
  Speaker 1: people that may have been with a previous company, Keller Williams, eXp,
• 4:44
  Speaker 1: whatever it was. They're like, I'm so glad I made
• 4:46
  Speaker 1: the move to real, because I just knew it. I
• 4:49
  Speaker 1: just knew they were out in forefront game changer. Um,
• 4:53
  Speaker 1: and we're all guilty of this and probably this, this
• 4:55
  Speaker 1: revenue sharing real estate world that we're in now, but
• 4:59
  Speaker 1: tell me Brian, how does this, you know, Remax 53
• 5:03
  Speaker 1: year old company, 145,000 agents, whatever it really is in
• 5:07
  Speaker 1: 120 countries. Um, how does this improve the real estate industry?
• 5:12
  Speaker 1: How does this help real estate agents? I.
• 5:16
  Speaker 2: I, I, you're gonna be waiting a while for an
• 5:18
  Speaker 2: answer for that. There's, We do this thing as agents,
• 5:21
  Speaker 2: and I think it's a thing that is a product,
• 5:25
  Speaker 2: I think, of the social media brand presence age where
• 5:28
  Speaker 2: we have to have an opinion on everything. And we
• 5:31
  Speaker 2: have to say that things are meaningful even when they're
• 5:34
  Speaker 2: really not tremendously meaningful, maybe at least not in the
• 5:36
  Speaker 2: ways that we're saying they are like. The Real and
• 5:39
  Speaker 2: Remax merger I don't think does anything to any of
• 5:42
  Speaker 2: the real estate agents involved. They get up and they
• 5:44
  Speaker 2: go to work tomorrow, and that's just what it is.
• 5:47
  Speaker 1: The CEO sent out a letter to every agent in
• 5:49
  Speaker 1: both companies saying, in the quote saying, nothing about your
• 5:52
  Speaker 1: business changed when you woke up this morning.
• 5:55
  Speaker 2: Correct.
• 5:55
  Speaker 1: Sounds like nothing's going to change. And that's the point.
• 5:58
  Speaker 1: We're talking about this. The shares went up only because
• 6:02
  Speaker 1: now they've combined with Remax. And I think it was
• 6:05
  Speaker 1: like a 10 for 1 tradeoff.
• 6:07
  Speaker 2: Yeah.
• 6:08
  Speaker 1: But the way that I see this is like at
• 6:10
  Speaker 1: any brokerage, this is the point that I've really started
• 6:14
  Speaker 1: to notice is like I probably was guilty of this
• 6:17
  Speaker 1: in the past of saying, oh, eXp Realty is a
• 6:19
  Speaker 1: game changer. It's not the brokerage. It's who you're going
• 6:23
  Speaker 1: to partner with or who you're going to start surrounding
• 6:26
  Speaker 1: and network with.
• 6:27
  Speaker 2: Think about this. Let's do a fun little anecdote. Who
• 6:29
  Speaker 2: owns Chipotle again, Jesse? I think it's McDonald's.
• 6:32
  Speaker 1: Yeah, it's McDonald's.
• 6:33
  Speaker 2: Right, right. I thought so.
• 6:34
  Speaker 1: I thought so.
• 6:34
  Speaker 2: Could you imagine if all of the McDonald's franchisees went
• 6:37
  Speaker 2: to Facebook the day after they acquired Chipotle and were like,
• 6:40
  Speaker 2: this is why we're a game-changing company. I'm like, you
• 6:43
  Speaker 2: still own McDonald's. You know what I mean? Does that
• 6:46
  Speaker 2: not seem like what we kind of do sometimes in
• 6:47
  Speaker 2: real estate? Like real agents, I've seen agents on both sides,
• 6:51
  Speaker 2: Remax and Real. They're both like, this is what we
• 6:53
  Speaker 2: were looking for, game-changers. Like, does it really involve you?
• 6:57
  Speaker 2: You need to get up and you need to have
• 6:58
  Speaker 2: conversations and you need to set appointments and you need
• 7:00
  Speaker 2: to lead, generate, and sign clients. You know, it just,
• 7:03
  Speaker 2: this doesn't happen in many other industries. You know, I've
• 7:06
  Speaker 2: never seen like American Airlines pilots when they bought USA,
• 7:09
  Speaker 2: they're like, changing the game again. Like, no, you're still
• 7:12
  Speaker 2: flying to Chicago tomorrow.
• 7:13
  Speaker 1: You're doing the same thing. You're not flying more efficient.
• 7:16
  Speaker 1: You're not, you know, the planes didn't change.
• 7:18
  Speaker 2: I don't think it's an acquisition, you know, it's a,
• 7:20
  Speaker 2: it's a smart move for the businesses I'm sure involved. Um,
• 7:24
  Speaker 2: but it's just, it's funny that we always have to
• 7:25
  Speaker 2: have an opinion on this.
• 7:26
  Speaker 1: Well, I think that it's a smart move in a
• 7:28
  Speaker 1: sense from a real aspect of the real brokerage aspect
• 7:31
  Speaker 1: of now they're getting their hands on the ancillary. And that's,
• 7:34
  Speaker 1: and that's the whole point that I keep telling agents
• 7:36
  Speaker 1: is like, I don't care what brokerage you're with. Like,
• 7:39
  Speaker 1: you know, what are you doing in your own personal
• 7:40
  Speaker 1: business that you're now, you know, quick backstory. I was
• 7:44
  Speaker 1: talking to an agent on the way over here. I
• 7:45
  Speaker 1: just connected you with her, Brian, on a two-way text about,
• 7:49
  Speaker 1: you know, agents. The problem that I'm seeing in the
• 7:51
  Speaker 1: agent world is that we're relying solely on our commissions
• 7:55
  Speaker 1: and those can fluctuate. We can have an amazing month
• 7:58
  Speaker 1: and then the next three months or four months is
• 8:00
  Speaker 1: like the Sahara Desert and then we're running out of money.
• 8:03
  Speaker 1: And so that up and down roller coaster, the feast
• 8:06
  Speaker 1: or famine, it's just, it's a, it's a, It's a
• 8:09
  Speaker 1: mental exhaustion game that eventually, if you don't master your
• 8:14
  Speaker 1: systems and your structure and your environment and legion systems,
• 8:18
  Speaker 1: you're going to eventually run out of rope.
• 8:20
  Speaker 2: Every single colleague in this business that we really respect,
• 8:24
  Speaker 2: that we look up to, that we're fans of, that
• 8:26
  Speaker 2: we've been mentored or coached by, has followed a path
• 8:30
  Speaker 2: that we have followed as well. And that is growing
• 8:32
  Speaker 2: your real estate business as a way to then start
• 8:35
  Speaker 2: to generate the vertical income streams and the ancillaries. We're entrepreneurs, right?
• 8:39
  Speaker 2: And so if you're solely relying on your commission, I
• 8:43
  Speaker 2: wouldn't say you're not a business owner. You are, but you're,
• 8:45
  Speaker 2: you're missing a, a, you're missing the portfolio building aspect
• 8:48
  Speaker 2: of the business that you're in. There's a massive opportunity
• 8:51
  Speaker 2: to build a real estate portfolio as it were, rather
• 8:55
  Speaker 2: than just relying on your commission. That's what so many
• 8:56
  Speaker 2: agents do. And, uh, Another one of Jesse's awesome podcast
• 9:02
  Speaker 2: hosts for a different show sent me a statistic yesterday
• 9:05
  Speaker 2: from NAR. You want to guess what they just published
• 9:07
  Speaker 2: year to date of how many agents have not sold
• 9:08
  Speaker 2: a home? So if you're just relying on your commissions, oh,
• 9:14
  Speaker 2: he had it up already.
• 9:16
  Speaker 1: Wow.
• 9:17
  Speaker 2: 84% of NAR members. Now, again, we always preface this
• 9:22
  Speaker 2: by saying not all members, but 84% is bigger than
• 9:23
  Speaker 2: the 71 last year. I think we finished with 71%
• 9:28
  Speaker 2: last year.
• 9:28
  Speaker 1: Assuming that's legit. Here's the thing. I posted this before,
• 9:32
  Speaker 1: and then people tried to fact check it, and then
• 9:33
  Speaker 1: they all want to disagree. And I'm like, guys, like,
• 9:36
  Speaker 1: Even if it's off a little bit, it's more than 60%.
• 9:38
  Speaker 1: I'm going to tell you that right now. So what
• 9:41
  Speaker 1: are we arguing? That the 84 or 75 or whatever
• 9:43
  Speaker 1: is wrong is like the majority still has not sold
• 9:45
  Speaker 1: a house.
• 9:46
  Speaker 2: Right. Yeah. I could just look in. We could go
• 9:48
  Speaker 2: to our brokerages and ask them for a data poll.
• 9:51
  Speaker 2: And it would show that significantly more than half of
• 9:56
  Speaker 2: agents that are trying to, or that call themselves producing
• 9:59
  Speaker 2: agents have not done a transaction this year.
• 10:02
  Speaker 1: Right.
• 10:02
  Speaker 2: And so anyway, one, you need to be lead generating
• 10:05
  Speaker 2: your butt off right now. I've talked about this a
• 10:07
  Speaker 2: ton in, in, in, in our podcasts and in coaching sessions,
• 10:10
  Speaker 2: like the prospectors are succeeding right now. There's business out there.
• 10:14
  Speaker 2: There This is the environment for which they build their
• 10:23
  Speaker 2: ancillary revenue streams. And that is available to every agent
• 10:27
  Speaker 2: out there that is building a real estate business. But
• 10:30
  Speaker 2: it is also why you're seeing so many mergers and
• 10:32
  Speaker 2: acquisitions right now. You're seeing mergers and acquisitions because the
• 10:36
  Speaker 2: companies that are relying heavily on transaction income, revenue that
• 10:41
  Speaker 2: comes from transactions... That's down. And they're losing agents. They're
• 10:45
  Speaker 2: not losing agents necessarily just to other brokerages. You're just
• 10:47
  Speaker 2: losing them to the industry. People are just getting out
• 10:49
  Speaker 2: of the business. And so it's devaluing companies. We talked
• 10:51
  Speaker 2: about the Fathom merger before, the Fathom acquisition from Bed
• 10:53
  Speaker 2: Bath & Beyond. Fathom was like $ 20 million in the negative,
• 10:56
  Speaker 2: even though they had tens of thousands of agents, right?
• 10:59
  Speaker 2: They just weren't making money. But if you gobble up
• 11:02
  Speaker 2: enough licenses and you have the ancillaries, now someone like
• 11:06
  Speaker 2: Real or a company like Real... can start to generate
• 11:10
  Speaker 2: more revenue per transactions because they're not just relying solely
• 11:13
  Speaker 2: on their commission splits. That's the coming together of the consolidation. Sorry,
• 11:22
  Speaker 2: that's where the consolidation in the industry is happening right now.
• 11:24
  Speaker 2: That's the reason you're seeing so many mergers, I believe.
• 11:29
  Speaker 1: Brian, I want to share something of the reason why
• 11:31
  Speaker 1: we have been a big proponent and created an opportunity
• 11:35
  Speaker 1: called the Residual Agent Network. So all you need to
• 11:38
  Speaker 1: do is go to GetResidualAgent.com, GetResidualAgent.com, and go put your
• 11:43
  Speaker 1: information in there, right? Just sign up, figure out, go
• 11:46
  Speaker 1: learn more about what it means about becoming a residual
• 11:48
  Speaker 1: agent and building the network infrastructure. Because again, that feast
• 11:52
  Speaker 1: or famine mode happens to every single agent out there.
• 11:57
  Speaker 1: For the most part, there's not been a time in
• 12:00
  Speaker 1: successful agents or any of the real estate businesses that
• 12:03
  Speaker 1: I know of that someone hasn't thought about leaving the industry.
• 12:06
  Speaker 1: And we talk about the real REMAX merger, real bought
• 12:10
  Speaker 1: this so they can get to the, they're getting into
• 12:13
  Speaker 1: the brick and mortar side of things. They're now acquiring
• 12:17
  Speaker 1: a well-known brand, but it's really also to get to
• 12:21
  Speaker 1: the other data points of now we have, we can
• 12:24
  Speaker 1: deepen our title insurance side. We can deepen our insurance-
• 12:27
  Speaker 1: you know, title insurance, property insurance, mortgages, right? So now they're, again,
• 12:34
  Speaker 1: everyone's racing to have, try to figure out this complete
• 12:36
  Speaker 1: package of the industry. And those who get it, they're
• 12:41
  Speaker 1: going to be the ones that survive. 100%.
• 12:44
  Speaker 2: We talked about this a little bit. I think it's
• 12:45
  Speaker 2: worth repeating this because the consolidation works because it cuts
• 12:49
  Speaker 2: the cost of customer acquisition down to essentially nothing. You're
• 12:52
  Speaker 2: only acquiring the customer once, and now you're serving them
• 12:56
  Speaker 2: from the agent side, the mortgage side, the insurance side,
• 12:58
  Speaker 2: the title side. Well, when those are all disconnected and
• 13:01
  Speaker 2: just jointed companies, that customer acquisition piece, that's an expense
• 13:05
  Speaker 2: for every single one of those different companies, right? When
• 13:08
  Speaker 2: they are all under one umbrella, your cost of customer
• 13:11
  Speaker 2: acquisition goes to, you know, essentially nil. And that, that is,
• 13:13
  Speaker 2: I mean, that just remargins your business in such a
• 13:16
  Speaker 2: substantial way. So that's why you're seeing all of this happen.
• 13:19
  Speaker 2: How that affects the individual agent is entirely up to them. Um,
• 13:23
  Speaker 2: But I think we're going to continue to see more
• 13:25
  Speaker 2: and more of this for the next few years.
• 13:26
  Speaker 1: Can we touch a little deeper on, again, not just
• 13:29
  Speaker 1: the merger in itself, but maybe the industry as a whole?
• 13:33
  Speaker 1: Because one of the propositions of the deal rests on
• 13:38
  Speaker 1: Real's technology platform. And they call it REZEN. And then
• 13:44
  Speaker 1: they have Leo AI and then Real Wallet. The Real
• 13:47
  Speaker 1: Wallet is actually interesting because you can go, it's where
• 13:50
  Speaker 1: everybody gets paid, the revenue share gets paid. You can
• 13:53
  Speaker 1: actually take, from my understanding, I think you can take
• 13:55
  Speaker 1: cash advances against it. So it's kind of cool from
• 13:58
  Speaker 1: maybe a retention tool.
• 14:00
  Speaker 2: Yeah.
• 14:01
  Speaker 1: But when we look at this, is that the technology
• 14:07
  Speaker 1: piece and saying, all right, we have this AI. Yeah.
• 14:11
  Speaker 1: To me, every big company that's bringing in millions of dollars,
• 14:18
  Speaker 1: if they're they all have the same kind of competitive
• 14:21
  Speaker 1: advantage with an AI platform. This is, I mean, either
• 14:25
  Speaker 1: they got what? Open AI, Anthropic, Grok, Google, Microsoft. So
• 14:33
  Speaker 1: we've got the co-pilot. So maybe they're building their own,
• 14:36
  Speaker 1: but nothing is truly that proprietary when it comes to
• 14:40
  Speaker 1: this AI space now. To say like every agent, if
• 14:44
  Speaker 1: they're not saying they don't incorporate AI into their world, Well,
• 14:48
  Speaker 1: then they're missing that boat.
• 14:49
  Speaker 2: Sure. Yeah. I mean, of course. That's in every industry
• 14:53
  Speaker 2: and pretty much every aspect of our lives in the
• 14:55
  Speaker 2: next few years. I see the AI, you know, let's
• 15:00
  Speaker 2: call it proprietary AI, which is there's no such thing
• 15:02
  Speaker 2: as proprietary AI. You can get AI to do and say,
• 15:05
  Speaker 2: you know, whatever it is. We saw this a little
• 15:10
  Speaker 2: bit years ago with big brokerages. getting into the tech
• 15:14
  Speaker 2: space and trying to build their own CRMs and all
• 15:17
  Speaker 2: this type of stuff. Um, it didn't necessarily become a
• 15:20
  Speaker 2: needle mover for any of the brokerages. And in fact,
• 15:22
  Speaker 2: I was always been a pretty outspoken advocate of not
• 15:25
  Speaker 2: doing that. Um, I just think that you need to
• 15:28
  Speaker 2: compete in the areas where you're capable of competed, capable
• 15:32
  Speaker 2: of competing. And when you're running a large brokerage now
• 15:35
  Speaker 2: with 180,000 agents, for example, um, You're always competing against smaller, faster,
• 15:42
  Speaker 2: leaner companies that are only trying to build technology. And
• 15:45
  Speaker 2: that's all they focus on. It's all they think about
• 15:47
  Speaker 2: all day. And that's why there's never been a brokerage
• 15:51
  Speaker 2: out there that agents– I would say the consensus among agencies,
• 15:57
  Speaker 2: this brokerage has a superior CRM. There's consensus, not unanimous consensus,
• 16:03
  Speaker 2: but there is consensus among agents around what the best
• 16:06
  Speaker 2: CRMs are. There's only about three of them out there.
• 16:08
  Speaker 2: but they're not associated with brokerages, right? They are the
• 16:12
  Speaker 2: follow-up bosses, the brividies, or the, I mean, this is
• 16:15
  Speaker 2: associated with Place, but it's the follow-up bosses, the Sierra Interactives,
• 16:19
  Speaker 2: the SYNCs, all that of the world. No brokerage's CRM
• 16:24
  Speaker 2: has been a needle mover for them. I'm wondering if
• 16:27
  Speaker 2: these proprietary AI things are going to be the same way.
• 16:30
  Speaker 2: Like every brokerage is like, we're AI powered now, we're
• 16:33
  Speaker 2: building our thing, and they all have a name for
• 16:34
  Speaker 2: it and all that type of stuff. Well, At the
• 16:36
  Speaker 2: end of the day, those are all plugged in to
• 16:38
  Speaker 2: publicly available AI models.
• 16:42
  Speaker 1: But they're tools, right?
• 16:43
  Speaker 2: They're tools.
• 16:44
  Speaker 1: Tools and a toolbook only last for so long. Yeah.
• 16:47
  Speaker 1: And that's not a reason. Like I've always said is like,
• 16:49
  Speaker 1: you know, I talked to an agent a couple of
• 16:51
  Speaker 1: weeks ago and they sell a good amount of real estate.
• 16:56
  Speaker 1: They don't have a CRM. Their CRM is just their
• 16:58
  Speaker 1: cell phone.
• 16:59
  Speaker 2: Crazy, really.
• 17:00
  Speaker 1: They don't have it. She's like, I actually have put
• 17:03
  Speaker 1: nothing into a CRM. There's none of it. People just
• 17:06
  Speaker 1: call me or I call them, I network. And so
• 17:10
  Speaker 1: like when we look at all these tools, they're commodities.
• 17:14
  Speaker 2: Yeah.
• 17:15
  Speaker 1: And to sit here and say like, you know, if
• 17:18
  Speaker 1: you look at Reology built out their proprietary tech and
• 17:22
  Speaker 1: then they sold to Compass at a distressed value.
• 17:25
  Speaker 2: Right. Yeah. Right.
• 17:26
  Speaker 1: KW tried to build their command center out and it flopped.
• 17:32
  Speaker 1: They don't talk about it anymore. Yeah, they don't talk
• 17:34
  Speaker 1: about it at all, right? They used to have it.
• 17:36
  Speaker 1: They came out. To my knowledge, they were the first
• 17:38
  Speaker 1: to really talk about AI. They had Kelly on the
• 17:41
  Speaker 1: AI side. That was back in 2018, 2017, 2018.
• 17:44
  Speaker 2: They don't talk about it anymore.
• 17:46
  Speaker 1: No. But do you know how they used that? That
• 17:49
  Speaker 1: was a promotion tool to bring people in.
• 17:50
  Speaker 2: Yeah, and it was brilliant marketing, too. And they did
• 17:53
  Speaker 2: that with Command for a long time as well. The
• 17:55
  Speaker 2: thing that I've always said with these tech pieces is,
• 17:59
  Speaker 2: if for your brokerage to get the most out of the,
• 18:02
  Speaker 2: the progression of technology, I think the smartest thing to
• 18:06
  Speaker 2: do is take your existing technology and have the best
• 18:09
  Speaker 2: API exposure so that people can build onto your platform. Right. Um,
• 18:14
  Speaker 2: rather than trying to, you know, build the best AI
• 18:19
  Speaker 2: widgets inside of your, whatever your platform is. And brokers
• 18:23
  Speaker 2: have all sorts of different platforms. Some of our CRM,
• 18:25
  Speaker 2: some of them are just compliance. Some of them are
• 18:26
  Speaker 2: marketing hubs or all that type of stuff. Um, Because
• 18:30
  Speaker 2: that's what you're competing with. Like, Anthropic is out there
• 18:32
  Speaker 2: every day trying to make more use cases for you
• 18:36
  Speaker 2: to go to Claude and just have it do things
• 18:38
  Speaker 2: with other tools inside your world. That's the game they're
• 18:41
  Speaker 2: already playing. So they're not trying– like, those are the
• 18:45
  Speaker 2: leading forward thinkers in the AI space. And what they're
• 18:50
  Speaker 2: trying to do is make your current tool set more
• 18:52
  Speaker 2: useful– And what some real estate brokers or brokers I
• 18:57
  Speaker 2: see are doing is they're trying to go the opposite
• 18:59
  Speaker 2: direction and go, let's take AI and put it inside
• 19:02
  Speaker 2: of our tools. And it's like, I would rather just
• 19:06
  Speaker 2: use Claude and have it connect to your tools and
• 19:08
  Speaker 2: build whatever I want. That's going to be the more
• 19:10
  Speaker 2: useful way to do it.
• 19:11
  Speaker 1: I just read something. You know what, as a brokerage
• 19:14
  Speaker 1: or a team, because this is what we're doing at
• 19:16
  Speaker 1: the Good Home Team now, we're going, it's going back retro, right?
• 19:21
  Speaker 1: We can't, the phone calls aren't as effective. There's now
• 19:25
  Speaker 1: the TCPA, like the guidelines and laws and rules around
• 19:28
  Speaker 1: outreaches and everything else like that. So now you've got
• 19:31
  Speaker 1: to go into this, how do I attract, right? And
• 19:34
  Speaker 1: if you read the MREA Red Book, the Millionaire Real
• 19:36
  Speaker 1: Estate Agent book, we talk about prospecting and then the
• 19:39
  Speaker 1: marketing side, right? And so prospecting changes a little bit
• 19:43
  Speaker 1: from an expired, canceled, for sale by owner call, because
• 19:45
  Speaker 1: now you can get a little bit into deeper hot water.
• 19:49
  Speaker 1: You shouldn't be calling the DNC list. You shouldn't really
• 19:51
  Speaker 1: be calling anybody that doesn't opt in or know you.
• 19:53
  Speaker 1: And so if I'm a team or brokerage right now,
• 19:57
  Speaker 1: what the concept should be building out is, all right,
• 20:00
  Speaker 1: if I'm using AI, well, how am I using an
• 20:03
  Speaker 1: AI technology tool and platform that helps me run more
• 20:07
  Speaker 1: efficient transactions? community meetups or community events or webinars that
• 20:12
  Speaker 1: I can then invite my people to. No brokerage, by
• 20:15
  Speaker 1: the way, has offered that. Teams are starting to a
• 20:17
  Speaker 1: little bit. There was a team that I think we interviewed,
• 20:22
  Speaker 1: maybe we met at an event. It was an independent
• 20:25
  Speaker 1: brokerage and that brokerage, they spent a ton of money
• 20:27
  Speaker 1: and their attraction to joining was that they threw at
• 20:31
  Speaker 1: least one event in their community a month.
• 20:35
  Speaker 2: Wow.
• 20:35
  Speaker 1: That all their agents can invite to. And there was
• 20:37
  Speaker 1: a constant marketing machine coming.
• 20:39
  Speaker 2: Huge.
• 20:39
  Speaker 1: It was expensive to run. It was a mastermind. I
• 20:41
  Speaker 1: was in one of Wayne Salmon's five masterminds. And that
• 20:45
  Speaker 1: was the value prop. Now, it cost her a lot
• 20:47
  Speaker 1: of money, but she and that brokerage were the number
• 20:51
  Speaker 1: one brokerage in that town because of those events.
• 20:53
  Speaker 2: I don't doubt it. And it's funny how- Things change,
• 20:59
  Speaker 2: but the fundamentals never do. Some things never change. We've
• 21:03
  Speaker 2: talked about this on other podcasts, and it's been talked
• 21:05
  Speaker 2: about ad nauseum on all sorts of other shows. If
• 21:08
  Speaker 2: you look at the reported productivity gains from most industries
• 21:12
  Speaker 2: using AI, they're not necessarily right now in line with
• 21:15
  Speaker 2: the expense. People are spending a fortune on token usage,
• 21:21
  Speaker 2: and they're not increasing their gains necessarily. Now, that's going
• 21:24
  Speaker 2: to hockey stick at some point as people get better
• 21:26
  Speaker 2: using it. But at the same time, I think the
• 21:28
  Speaker 2: reason that that's happening, and this was mentioned on another
• 21:31
  Speaker 2: podcast that we all listened to, it's because you have
• 21:34
  Speaker 2: people building things they otherwise wouldn't build and wouldn't have
• 21:37
  Speaker 2: use cases for. And I think it's the same thing
• 21:39
  Speaker 2: in real estate. If agents If you're using AI to
• 21:42
  Speaker 2: try and do something in your business that you otherwise
• 21:45
  Speaker 2: wouldn't have been doing, you're probably not going to finish it.
• 21:48
  Speaker 2: It's not going to be useful and you're not going
• 21:49
  Speaker 2: to get a lot of forward momentum out of it.
• 21:52
  Speaker 2: If anything, you should be using AI to do more
• 21:55
  Speaker 2: of the fundamentals. And what are the fundamentals? Well, I'll
• 21:57
  Speaker 2: tell you, the most successful agents in this industry at
• 22:00
  Speaker 2: any given time, including and especially this market, are diving
• 22:05
  Speaker 2: deep with their database, generating more referrals from people that
• 22:08
  Speaker 2: already know, like, and trust them. They're doing the events,
• 22:10
  Speaker 2: they're doing that, all that type of stuff. They are
• 22:12
  Speaker 2: focused on their SOI in a very meaningful way. And
• 22:17
  Speaker 2: that is the thing that's never going to change. If
• 22:20
  Speaker 2: you are over, I would say the age of 25
• 22:22
  Speaker 2: and you want to sell 50 houses a year, they're
• 22:24
  Speaker 2: already all in here. And the best agents understand that.
• 22:27
  Speaker 2: And so everything we do, and it's the same with
• 22:29
  Speaker 2: our companies. Like we have to ask ourselves those difficult
• 22:32
  Speaker 2: questions sometimes, because we'll go down rabbit holes. Like, Everything
• 22:34
  Speaker 2: that we try to build with AI, is it a
• 22:36
  Speaker 2: meaningful pursuit to do something that we were already doing
• 22:39
  Speaker 2: or would do if we had the ability to do it?
• 22:41
  Speaker 2: Or is it something we're doing because we think it
• 22:43
  Speaker 2: would be cool and it might lead somewhere fun? That's
• 22:46
  Speaker 2: fun on the weekends, but during nine to five business hours,
• 22:50
  Speaker 2: you better be doing something with AI that's actually helping
• 22:52
  Speaker 2: you do shit, the stuff that you would be doing anyway.
• 22:55
  Speaker 2: That was the old show.
• 22:56
  Speaker 1: Yeah. Look, people want AI just to do all the
• 23:01
  Speaker 1: work for them so they can sit at home and
• 23:03
  Speaker 1: then take all the credit.
• 23:04
  Speaker 2: And they don't know how hard it is to get
• 23:05
  Speaker 2: AI to actually do all the work for you. It
• 23:07
  Speaker 2: doesn't work. You might as well just do the work.
• 23:08
  Speaker 1: And once it gets there, then we probably won't have
• 23:11
  Speaker 1: a job.
• 23:12
  Speaker 2: Yeah, you really don't want it to get there, by
• 23:13
  Speaker 2: the way. There's six basic human needs, and the first
• 23:17
  Speaker 2: one is purpose. You lose that, it's going to be
• 23:21
  Speaker 2: really weird out there. I mean, we have goals to
• 23:24
  Speaker 2: be professional golfers. That's purposeful. Yeah. I played terrible last night.
• 23:28
  Speaker 2: I need AI to come in and do my work
• 23:31
  Speaker 2: so I can get back out there.
• 23:33
  Speaker 1: Capital gains. Let's talk about capital gains.
• 23:36
  Speaker 2: This is meaningful.
• 23:36
  Speaker 1: Let's talk about some capital gains. No one likes paying
• 23:40
  Speaker 1: taxes that I know of. No one likes legalized theft.
• 23:44
  Speaker 1: Let's just call it what it is. Capital gains are
• 23:46
  Speaker 1: not taxes.
• 23:47
  Speaker 2: They're theft.
• 23:48
  Speaker 1: Look, currently right now, the capital gains, there's capital gain
• 23:51
  Speaker 1: exclusions on up to 250,000 on a primary residence if
• 23:55
  Speaker 1: you're single, and up to $ 500, 000 for married couples. Um,
• 24:00
  Speaker 1: and two weeks ago, the white house kind of floated
• 24:03
  Speaker 1: out something that, uh, kind of got coverage, a little
• 24:07
  Speaker 1: bit of coverage, and then it just kind of disappeared
• 24:09
  Speaker 1: from the news cycle. Cause it's really not that hot
• 24:11
  Speaker 1: of a topic. If you really think about it all
• 24:13
  Speaker 1: that much.
• 24:13
  Speaker 2: It's just not sexy about a topic, which is so
• 24:16
  Speaker 2: silly because it's super meaningful. Yeah.
• 24:17
  Speaker 1: And so really what, what has been floated around is, um, uh,
• 24:23
  Speaker 1: Trump administration is looking at two ideas ahead of November
• 24:27
  Speaker 1: midterm elections. The first one is double the capital gains
• 24:33
  Speaker 1: exclusions on primary home sales. So right now, if you
• 24:36
  Speaker 1: sell your primary residence, you can exclude $ 250, 000 in profit.
• 24:40
  Speaker 1: If you're single, $ 500, 000 if you're married. The proposal would
• 24:43
  Speaker 1: raise those limits potentially to $ 500, 000 for single filers and
• 24:47
  Speaker 1: a million for married couples. And then there's even a
• 24:50
  Speaker 1: bipartisan bill called the More Homes on the Market Act. God,
• 24:57
  Speaker 1: they're awful at naming these. More Homes on the Market
• 24:59
  Speaker 1: Act that would do exactly this and index the amounts
• 25:04
  Speaker 1: of inflation going forward. So the second one is you're
• 25:09
  Speaker 1: indexing capital gains to inflation.
• 25:12
  Speaker 2: Interesting.
• 25:12
  Speaker 1: Meaning homeowners would only be taxed on real gains, not
• 25:17
  Speaker 1: on appreciation that was just keeping up with inflation since 1997.
• 25:23
  Speaker 2: That seems dumb. The first one's better. I just think
• 25:27
  Speaker 2: if you're trying to index it to inflation, and that's
• 25:29
  Speaker 2: such a... man, that's such a moving goalpost all the time.
• 25:33
  Speaker 2: And we're talking about a government being very accurate and
• 25:36
  Speaker 2: exacting and efficient in instituting these things. I just don't
• 25:40
  Speaker 2: believe that it would go very far or be done
• 25:44
  Speaker 2: very well. I love that we're at least having this conversation.
• 25:47
  Speaker 2: It's so funny that we talk about all kinds of
• 25:49
  Speaker 2: other stuff in real estate, but we don't talk about
• 25:51
  Speaker 2: the most important things. If you double the capital gains... Exclusion.
• 25:57
  Speaker 2: I mean, it says up there the percentage of homeowners
• 25:59
  Speaker 2: that would really benefit from it. It doesn't say to
• 26:01
  Speaker 2: what extent, but I mean, that's real money in real
• 26:05
  Speaker 2: people's pocket that they could then inject back into the marketplace.
• 26:09
  Speaker 2: I mean, that tremendously helps. I mean, I should say
• 26:14
  Speaker 2: it tremendously helped. Yeah, I mean, I guess the downstream
• 26:17
  Speaker 2: effects would be that it would help affordability. Now, the
• 26:20
  Speaker 2: opposite argument to that is that it could actually then
• 26:25
  Speaker 2: increase prices because if you're putting more money back in
• 26:29
  Speaker 2: people's pocket when they sell their home, then they have
• 26:32
  Speaker 2: the ability to bid up prices on their next home.
• 26:35
  Speaker 2: And it could potentially have a downstream effect on first-time homebuyers.
• 26:39
  Speaker 2: You could offset that with some of Nick's ideas.
• 26:41
  Speaker 1: Well, there's a third aggressive version floating in a Republican
• 26:45
  Speaker 1: study committee that would eliminate capital gains taxes entirely on
• 26:48
  Speaker 1: sales to first-time homebuyers.
• 26:50
  Speaker 2: So that's the stuff you should do. That's the stuff
• 26:53
  Speaker 2: that you should do. What if we do something different?
• 26:55
  Speaker 2: What if we just get rid of capital gains? What
• 26:56
  Speaker 2: if you just don't have capital gains and stop stealing
• 26:58
  Speaker 2: America's money? I think that'd be even better. But I
• 27:01
  Speaker 2: like that idea.
• 27:03
  Speaker 1: Let's kind of toy with this. If you eliminate capital gains,
• 27:07
  Speaker 1: not just in primary residence, but on investment properties, if
• 27:11
  Speaker 1: you're an investor, Brian, which you are, do you feel
• 27:14
  Speaker 1: that when you buy something and you renovate it and
• 27:18
  Speaker 1: you're already paying taxes on the income you've earned, why
• 27:23
  Speaker 1: should you be paying taxes on the increase in value?
• 27:26
  Speaker 2: You shouldn't. The government steals money from you. It's legalized theft.
• 27:29
  Speaker 2: I've been outspoken about this for a very long time,
• 27:33
  Speaker 2: and most conservative thinkers are. It should be illegal.
• 27:38
  Speaker 1: By the way, you get tax write-offs, right? But did
• 27:40
  Speaker 1: you know when you sell, they actually do a 25% recapture?
• 27:43
  Speaker 1: It's called recapture. So it's write-offs are temporary.
• 27:45
  Speaker 2: Yeah.
• 27:46
  Speaker 1: So the only way that you can keep those tax
• 27:47
  Speaker 1: write-offs going is by either 1031ing or- by just buying
• 27:52
  Speaker 1: more properties or buying more investments to carry forward the loss,
• 27:55
  Speaker 1: and then it's a ticking time bomb.
• 27:58
  Speaker 2: And did you know that, say, on a multifamily investment,
• 28:01
  Speaker 2: you could actually lose money on your investment and still
• 28:04
  Speaker 2: get hit with tax recapture? Yep. It's tough. It's tough
• 28:07
  Speaker 2: out there. They'll take money you didn't even make. So yeah,
• 28:10
  Speaker 2: big proponent of not having capital gains taxes at all.
• 28:13
  Speaker 2: I think that that would be the most the best
• 28:17
  Speaker 2: way to do it. Also, as an investor, it ties
• 28:21
  Speaker 2: up inventory for longer because your hold periods increase because
• 28:25
  Speaker 2: of capital gains tax. So if we're trying to, if
• 28:29
  Speaker 2: we're saying that there's a housing shortage, if we're saying like,
• 28:31
  Speaker 2: you know, in most markets that there's supply, that's supply
• 28:34
  Speaker 2: limitations and inventory shortages and all these things, well, people
• 28:37
  Speaker 2: stay in their homes longer to avoid paying the aggressive
• 28:41
  Speaker 2: recapture on capital gains tax is one of the reasons
• 28:43
  Speaker 2: people stay longer.
• 28:46
  Speaker 1: For the most part.
• 28:48
  Speaker 2: I should say one of the reasons that investors hold long. Yes.
• 28:51
  Speaker 2: Not necessarily primary.
• 28:55
  Speaker 1: From a government perspective, it's kind of like when the
• 28:59
  Speaker 1: state of Texas and Abbott kind of increased the property
• 29:03
  Speaker 1: tax exemptions on Homestead. It sounds great in theory. Everything
• 29:07
  Speaker 1: sounds great, like we're saving all this money. But when
• 29:09
  Speaker 1: you really look at it per person, you're not saving
• 29:12
  Speaker 1: that much.
• 29:12
  Speaker 2: Right.
• 29:13
  Speaker 1: And so this is great. This is something that you
• 29:15
  Speaker 1: go and float around or you do pass right before
• 29:18
  Speaker 1: midterms to kind of help give a boost. But in
• 29:20
  Speaker 1: all reality, probably most realtors here can vouch for this,
• 29:26
  Speaker 1: that most of the people they're talking to that are
• 29:28
  Speaker 1: primary residents aren't even thinking about any type of tax.
• 29:32
  Speaker 1: Most of the people that I know aren't profiting $ 500, 000
• 29:34
  Speaker 1: or more on the sale of their home. Sure. So-
• 29:40
  Speaker 1: to me, I've been doing this 22 years, that would
• 29:42
  Speaker 1: be a very, very small percentage of people. Now, on
• 29:46
  Speaker 1: the flip side, I've worked with a lot of investors,
• 29:48
  Speaker 1: and so have you, where that is the conversation that
• 29:52
  Speaker 1: is had of, Do I 1031 it? Do I sell this?
• 29:55
  Speaker 1: What is my tax hit? What's the recapture? What am
• 29:59
  Speaker 1: I having to pay? And does it make it worth it?
• 30:02
  Speaker 1: And now all those properties are being tied up and
• 30:04
  Speaker 1: held up. That's where the release valve is.
• 30:07
  Speaker 2: And what kind of properties are those? That's an interesting conversation.
• 30:10
  Speaker 2: And it would be an interesting conversation to see some
• 30:11
  Speaker 2: of those statistics. That's the inventory that first-time homebuyers need.
• 30:16
  Speaker 2: most rental properties, your standard rental property is going to
• 30:19
  Speaker 2: be a one-story, three-bedroom, two-bath in between 1,500 and 2,500
• 30:22
  Speaker 2: square feet in America. That's the inventory we're trying to unlock.
• 30:26
  Speaker 2: And it's mostly held by, or not say mostly, it
• 30:30
  Speaker 2: is what most investors, single-family investors, at least, that is
• 30:33
  Speaker 2: their buy box. And so those people are thinking about
• 30:36
  Speaker 2: capital gains tax, and they are holding for much longer.
• 30:39
  Speaker 2: They don't want to pay a hefty capital gains tax
• 30:42
  Speaker 2: when they sell. And- And that's what first-time homebuyers need.
• 30:46
  Speaker 2: So I think that that third bill that you're just
• 30:48
  Speaker 2: talking about where you wouldn't have to pay capital gains
• 30:51
  Speaker 2: tax if you sold to a first-time homebuyer, that's at
• 30:52
  Speaker 2: least an interesting one.
• 30:53
  Speaker 1: If that is for anybody, not just primary residences. Right. Yes.
• 30:58
  Speaker 2: Yeah. Which, by the way, I just– I think it
• 31:01
  Speaker 2: should be. The idea of primary versus secondary– like these
• 31:05
  Speaker 2: are just things we make up to tax people more. Yeah.
• 31:08
  Speaker 2: So you just categorize things differently and you can tax
• 31:10
  Speaker 2: them differently. And it's, you know, we could go down
• 31:13
  Speaker 2: the rabbit hole about government inefficiency and how we don't
• 31:16
  Speaker 2: need as much tax revenue as we think and all
• 31:18
  Speaker 2: that type of stuff. That's a different show.
• 31:21
  Speaker 1: Can we talk about ARA versus NAR?
• 31:25
  Speaker 2: What is this? The American Realtors Association is what it is? Yes.
• 31:30
  Speaker 1: Wow, you nailed it.
• 31:32
  Speaker 2: This is, yeah.
• 31:33
  Speaker 1: Area. Okay, sorry. Well, it's ARA. It's not spelled area, huh?
• 31:39
  Speaker 1: Do they call it area? Well, I'm part of NAR
• 31:42
  Speaker 1: right now, so we're not allowed to talk about it.
• 31:44
  Speaker 1: It's ARA. I think as NAR members, if we bring
• 31:46
  Speaker 1: it up, I think we get a cease and desist.
• 31:49
  Speaker 2: Is this the new thing?
• 31:51
  Speaker 1: Look, the quiet shift happening right now is at the
• 31:55
  Speaker 1: end of July, Compass International Holdings, which now they oversee
• 32:01
  Speaker 1: and hold nine major real estate brands, Century 21, Coldwell Banker,
• 32:05
  Speaker 1: Better Homes and Garden, ERA, Sotheby's, Corcoran, Christie's, and Nat Properties,
• 32:11
  Speaker 1: they joined the American Real Estate Association.
• 32:14
  Speaker 2: The American Real Estate Association.
• 32:16
  Speaker 1: So every agent on the company-owned side of those nine
• 32:19
  Speaker 1: brands will receive complimentary area memberships through the end of 2027. Okay. Right?
• 32:26
  Speaker 1: And if we go back and if you look at it,
• 32:28
  Speaker 1: area was founded in 2024 by, is it Marcio?
• 32:33
  Speaker 2: Okay.
• 32:33
  Speaker 1: Is that how you spell it?
• 32:34
  Speaker 2: I think so.
• 32:35
  Speaker 1: He's the guy, wasn't he on a television show, I think?
• 32:38
  Speaker 2: Mauricio.
• 32:39
  Speaker 1: Mauricio.
• 32:39
  Speaker 2: Yeah, I don't know.
• 32:41
  Speaker 1: Yeah, Mauricio, as a direct response to discontent with NAR
• 32:46
  Speaker 1: following the commission lawsuit fallout. So it costs $ 20 a year.
• 32:52
  Speaker 1: And before this announcement, before the Compass announcement, they had 30,000
• 32:56
  Speaker 1: members already join.
• 32:57
  Speaker 2: Hey, wow. Yep. What are they doing? What are they doing?
• 33:04
  Speaker 1: There's challenging NAR.
• 33:05
  Speaker 2: I know. I get that. But like on what? Like
• 33:08
  Speaker 2: we're in a street fight? Like what do you mean? Okay.
• 33:11
  Speaker 2: About us. What do we do? It's– okay.
• 33:18
  Speaker 1: Oh.
• 33:19
  Speaker 2: What– okay. So they're just a lobbyist group like NAR? Yeah.
• 33:24
  Speaker 1: Yeah, and it's an alternative, yes, probably. Probably so. I mean,
• 33:29
  Speaker 1: now that— I mean, NAR still has their hands into the MLS. Right.
• 33:35
  Speaker 2: Well, that's the thing is, yeah, so I don't know.
• 33:39
  Speaker 2: So what I mean when they're trying to challenge NAR
• 33:41
  Speaker 2: is like on what level? Is it for influence and advocacy?
• 33:46
  Speaker 2: Is it in the MLS front? That's why I was
• 33:49
  Speaker 2: looking at what the About Us does.
• 33:53
  Speaker 1: I think if we really look at this in general,
• 33:55
  Speaker 1: we now– NAR has never truly had a competitor.
• 33:59
  Speaker 2: That's the big point here, yeah, is that there's never
• 34:02
  Speaker 2: really been a competitor. a counterparty to NAR. It's just
• 34:06
  Speaker 2: been a default.
• 34:07
  Speaker 1: And now that- I felt like, I always said it
• 34:09
  Speaker 1: was like we had to join the mafia.
• 34:11
  Speaker 2: Yeah. Well, and I think now that people are seeing
• 34:13
  Speaker 2: that they don't need to be a member of NAR
• 34:14
  Speaker 2: to run their business, now it's opening the power vortex
• 34:18
  Speaker 2: for other competitors to come into the space. I'm just
• 34:21
  Speaker 2: curious about what they're actually doing. It's a trade association
• 34:24
  Speaker 2: built by real estate agents for real estate agents. Started
• 34:26
  Speaker 2: with a simple idea. The people- Doing this work every
• 34:29
  Speaker 2: day are the best ones positioned to move it forward. Okay.
• 34:31
  Speaker 2: I mean, so it's, yeah, it's a competing advocacy group, essentially,
• 34:35
  Speaker 2: which is great because, you know, I think most people
• 34:38
  Speaker 2: would say that NAR, the reason that these opportunities are
• 34:42
  Speaker 2: here is because NAR was not, I think in most
• 34:45
  Speaker 2: realtors' opinion, the best advocates for their agents over the
• 34:48
  Speaker 2: last few years.
• 34:49
  Speaker 1: Probably, probably so. And- Effective January 1st of this year, 2026,
• 34:55
  Speaker 1: NAR removed the provision that required you to be a
• 34:59
  Speaker 1: NAR member in order to have MLS access. So they
• 35:03
  Speaker 1: removed that, right? Effective January of 2026. NAR's calling it modernization.
• 35:09
  Speaker 1: I think that they're just looking at the... Again, we're
• 35:11
  Speaker 1: all doing spin on words is, how do we stay relevant?
• 35:16
  Speaker 1: And then to me, how do they fight better for
• 35:20
  Speaker 1: their members?
• 35:21
  Speaker 2: Again.
• 35:22
  Speaker 1: at, you know, this, this parent group I was at
• 35:24
  Speaker 1: when I was talking about, they were talking about, you know,
• 35:27
  Speaker 1: home warranties and health and everything else. There's a gentleman
• 35:30
  Speaker 1: there that's a CEO of a big insurance agency. And, and,
• 35:34
  Speaker 1: you know, he said, what does, what does NAR even
• 35:36
  Speaker 1: do for your, your members? And I said, I don't know.
• 35:40
  Speaker 1: They get in lawsuits. That's what I know.
• 35:41
  Speaker 2: Well, I mean, here's the, yeah. I mean, it's funny,
• 35:43
  Speaker 2: but you say that because I think of the, amount
• 35:48
  Speaker 2: of times that question has probably been asked to agents nationwide,
• 35:51
  Speaker 2: that's probably been the answer for a long time. It's like,
• 35:53
  Speaker 2: I don't know exactly what they do. I think that
• 35:56
  Speaker 2: in its history, NAR has had one or two, maybe two,
• 36:00
  Speaker 2: maybe more serious tests of will they advocate successfully and
• 36:08
  Speaker 2: stand up for their agent population? And one of them
• 36:11
  Speaker 2: was a few years ago. And I think everyone that
• 36:13
  Speaker 2: was involved would agree they did not they did not
• 36:16
  Speaker 2: do a bang up job. And I think that obviously
• 36:19
  Speaker 2: now we're looking at this just a couple of years
• 36:21
  Speaker 2: later and, and a lot of things are changing and
• 36:23
  Speaker 2: have changed in NAR since then. And we're sort of
• 36:26
  Speaker 2: seeing the decline might not be the right word, but
• 36:29
  Speaker 2: we're starting to see that narrative of NAR doesn't do
• 36:35
  Speaker 2: much for its agents kind of become the primary thing
• 36:38
  Speaker 2: that people say about NAR.
• 36:39
  Speaker 1: When was the last time your NAR membership helped you
• 36:41
  Speaker 1: close a deal?
• 36:43
  Speaker 2: I don't even know what I get with it, to
• 36:44
  Speaker 2: be honest with you.
• 36:45
  Speaker 1: You get to use the word realtor, which, by the way,
• 36:48
  Speaker 1: I think it's such a coined term now that even
• 36:50
  Speaker 1: if you left NAR and joined Area, that all you
• 36:53
  Speaker 1: have to say as a real estate professional, a person's
• 36:55
  Speaker 1: going to automatically think realtor. I think that it's so
• 37:00
  Speaker 1: uniform now that if you just say you're a real
• 37:04
  Speaker 1: estate agent, they immediately think realtor. It doesn't matter whether
• 37:07
  Speaker 1: they say, are you part of NAR or not, and whatever.
• 37:09
  Speaker 1: I've never had anybody ask if I'm part of NAR
• 37:11
  Speaker 1: or any other associations.
• 37:12
  Speaker 2: Which is a vent their own word to. I'm a realist.
• 37:15
  Speaker 1: Realitist. Realitist.
• 37:17
  Speaker 2: I don't know. Realtor is a made up word. NAR
• 37:20
  Speaker 2: made it up. National Association of Realtors is a made
• 37:24
  Speaker 2: up word. You can just make up a different one.
• 37:27
  Speaker 2: A REAP.
• 37:29
  Speaker 1: Real estate agent professional.
• 37:30
  Speaker 2: Okay. Yeah.
• 37:31
  Speaker 1: We're going to start that.
• 37:32
  Speaker 2: Yeah. I mean, if that's the thing that you're primarily
• 37:35
  Speaker 2: getting with your membership is the ability to use a
• 37:37
  Speaker 2: made up word.
• 37:38
  Speaker 1: If you want a free membership to the REAP Association,
• 37:43
  Speaker 1: then yeah, you got to be careful with that word.
• 37:45
  Speaker 1: REAP Association. Just subscribe to this channel and comment Brian's
• 37:50
  Speaker 1: name on there.
• 37:50
  Speaker 2: There you go.
• 37:51
  Speaker 1: Yeah. Yep.
• 37:53
  Speaker 2: Lots of cover today. There was a lot of ground.
• 37:55
  Speaker 1: There was a lot today.
• 37:56
  Speaker 2: Yeah. I think we should spend more. We should spend
• 37:59
  Speaker 2: one show just on some of the portable mortgages and
• 38:02
  Speaker 2: tax stuff because there is actually some important things happening
• 38:06
  Speaker 2: in the background. We're not talking about mergers and acquisitions
• 38:08
  Speaker 2: and TikToks and stuff.
• 38:10
  Speaker 1: I think we need to bring on one of our.
• 38:14
  Speaker 1: One of our local politicians to see if they can
• 38:16
  Speaker 1: talk about it. I know Nate Fisher, he interviewed the
• 38:19
  Speaker 1: city of Plano's mayor.
• 38:20
  Speaker 2: Yeah.
• 38:21
  Speaker 1: Did a great job on it.
• 38:22
  Speaker 2: Nice.
• 38:22
  Speaker 1: He was doing a great job on his TikTok channel
• 38:24
  Speaker 1: just providing great education. So if you don't know Nate Fisher,
• 38:26
  Speaker 1: go take a look out there. I think it's Nate
• 38:29
  Speaker 1: Fisher Realtor on there. Nice. Great show today.
• 38:32
  Speaker 2: Great show, guys. Good to be back.
• 38:34
  Speaker 1: Yeah, good to be back. We'll do one next week.
• 38:37
  Speaker 1: We've got to find a time because we're in a
• 38:39
  Speaker 1: business mastermind golf tournament.
• 38:40
  Speaker 2: We've got business to do. Check out HomewardDFW.com for all
• 38:45
  Speaker 2: your DFW property management needs. Make sure you go over
• 38:48
  Speaker 2: to Tore Studios, T-O-R-E Studios.com. Check out Armadillo. 1. And we
• 38:55
  Speaker 2: will see you next week.
• 38:57
  Speaker 1: The weekly podcast built for.
• 38:59
  Speaker 2: Agents who actually get paid. Market moves, listing heat, closing streets.
• 39:03
  Speaker 1: DFW agents.