DOJ Inquiry Sparks Major Changes In CAR Listing Agreement | The Real Word 326

Byron Lazine and Nicole White discuss changes to the California Association of Realtors (C.A.R.) listing agreement following a DOJ inquiry, the DOJ’s continuing investigation into NAR, and a Wall Street Journal article on the DOJ question: “Does the landmark real estate sentiment go far enough?” and the possibility of a change in DOJ priorities after the November election.

Join us tomorrow for BAM BBQ! https://brokeagentmedia.lpages.co/bam...

Join us at BAM Mania! The Must-Attend Real Estate Event Of The Year: https://brokeagentmedia.lpages.co/bam...

𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe
Use discount code REALWORD for 10% off your annual subscription!

_______
𝐑𝐞𝐦𝐢𝐧𝐝𝐞𝐫𝐌𝐞𝐝𝐢𝐚: Tired of spending your hard earned money on marketing you know never makes it past the trash can or spam filter? Imagine getting texts and calls thanking you for your marketing. That’s what we do for you → https://remindermedia.com/bamsample/

Subscribe to the BAM YouTube channel: https://tinyurl.com/aatxhaka
Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-ne...

Connect with Byron Lazine:   / byronlazine  
Connect with Nicole White:   / nicolewhite.ct  

This episode's sources:
https://nowbam.com/doj-allowed-to-reo...
https://www.wsj.com/real-estate/real-...
https://assets.inman.com/wp-content/u...
https://assets.inman.com/wp-content/u...
https://www.inman.com/2024/07/12/car-...

Timestamps:

00:00–02:49 Intro
02:49 Newly updated CAR listing agreement
04:13 Inman: CAR changes form following DOJ inquiry
05:55 Original draft of CAR listing agreement & June revision (showing parts removed)
06:44 Close-up view of removed sections (anything re: buyer broker compensation)
08:25 Sections in the new form
08:48 Comment by @SanDiegoRealEstate2024
10:57 “Are we now prohibiting our sellers from offering [buyer broker] compensation…?”
14:22 Additional terms, section J (visual)
16:35 Steve quote (same Inman article)
16:50 “This general counsel for C.A.R. is not giving good counsel.”
19:05 “This new form is hiding options from consumers…” / Section D in old & new form
20:12 The new listing agreement removes references to seller concessions…
21:14 The seller would have to put any offer of compensation in writing…
23:35 Topic 2: DOJ announcement on reopening NAR investigation
25:48 Topic 3: Wall Street Journal article: “Does the [NAR] settlement go far enough?”
29:51 There’s at least a coin-flip chance of a new DOJ mentality after the election.
30:44 A case for NAR getting some attorneys together to push this out 3-4 months
33:05 “I like parts of the settlement… but don’t hide options from me.”

———
BAM PARTNERS
𝐌𝐨𝐬𝐚𝐢𝐤 is everything you need once a lead becomes a client: Collaborative Search. Listing Management. Transaction Management. Forms. Client Retention. Advanced Analytics. Unlock your digital sidekick today. Use code “bam200” for $200 off the one-time implementation fee → https://www.mosaik.io/
𝐕𝐮𝐥𝐜𝐚𝐧𝟕: The most accurate, powerful, and effective real estate seller lead generation resource to build your business. GET STARTED TODAY → https://www.vulcan7.com/bam/
𝐕𝐢𝐫𝐭𝐮𝐝𝐞𝐬𝐤: Hire a Virtual Assistant Today! Use code BAM200 for $250 OFF the signup fee → https://myvirtudesk.com/contact?promo...
𝐏𝐫𝐨𝐩𝐒𝐭𝐫𝐞𝐚𝐦: The most trusted provider of comprehensive real estate data nationwide. Try it FREE → https://trial.propstreampro.com/bam/
𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% → https://sisu.grsm.io/bam-pod-partners
𝐒𝐢𝐞𝐫𝐫𝐚 𝐈𝐧𝐭𝐞𝐫𝐚𝐜𝐭𝐢𝐯𝐞: Solutions That Maximize ROI. SEO powered IDX websites and a predictive CRM driven by marketing automations that help you capture, convert and close. Faster. Let's Chat → https://get.sierrainteractive.com/bam
𝐅𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧𝐬: Maximize tax savings, reduce administrative burdens, and increase take-home pay with a financial management solution specifically for real estate agents: https://get.formationscorp.com/bam
———

#dojustice #narsettlement #sellers