E 53 | NAR Lawsuit Update & Agent Advice | with Steve Hawks

Reside Platform Podcast with Suneet, Preston & Nick

Learn more about how Reside can get you to #1 in your marketplace: https://resideplatform.com/

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In this video, co-founder of Reside Platform Suneet Agarwal sits down with Steve Hawks.

Steve Hawks is a highly accomplished real estate expert, featured on major news networks and publications. He boasts a prestigious clientele including Disney, Paramount Pictures, Microsoft, IBM, Comdex, and ShowWest. Hawks has sold over 5,000 homes and consistently ranks in the top 1% of agents nationwide for four decades. He is also a respected commentator on real estate trends, providing insights for platforms like the Wall Street Journal, Fox News, CNBC, ABC World News, and BusinessWeek. Additionally, he offers strategic consulting services to companies, guiding them through overlooked economic trends in marketing planning.

In this episode, real estate expert Steve Hawks shares his wealth of knowledge on the recent NAR Lawsuit, starting with a brief overview of his background in real estate and his involvement in the lawsuit. Steve provides crucial updates on the lawsuit's settlement, highlighting a significant loophole that impacts the industry.

Joined by co-host Suneet, they delve into the traditional scripts and language used in the industry pre-lawsuit and how these will inevitably change buyer's agents' day-to-day operations. The conversation extends to the lawsuit's ripple effect on the mortgage industry and its implications for first-time homebuyers.

Listeners gain invaluable insights as Steve offers actionable advice on how agents can prepare for and adapt to the evolving real estate landscape post-lawsuit. He breaks down the optimal business model for agents navigating this new terrain.

Exploring client-agent dynamics, Suneet and Steve discuss the shifting conversations with clients, emphasizing the importance of demonstrating value and ways agents can enhance their offerings. Steve boldly predicts the future of the industry, including the potential number of agents who may be forced out of business.

The impact of the NAR lawsuit extends beyond real estate sales to affect mortgage and new construction industries. Steve, Suneet, and Nick offer advice and wisdom, particularly aimed at new agents navigating this turbulent period.

The episode concludes with Steve shedding light on the companies that opted out of the settlement, including major brokerages, and offers insights into the future trajectory of total commissions within the industry. Don't miss this insightful discussion on the seismic shifts reshaping the real estate landscape.

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Don't forget to subscribe! - - - @resideplatform

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VIDEO CONTENTS:

00:00 Introduction

01:13 Steve’s Background

02:42 The NAR Lawsuit Update & Discussion

14:55 What Agent’s Must Do Moving Forward

23:35 The Importance of Showing Your Value

42:01 The Settlement Impact

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Show Notes:

Follow Steve on Instagram at: hawks_steve

Send Steve a referral via text or call at [phone]