This week on The Walk Thru, Eric and Byron were joined by the host of Between Two Lock Boxes Dan Oneil and Tom Toole, leader of the top real estate team in greater Philadelphia.
Covering how the industry is still lacking inventory plus Byron’s direct email from a rep with the Pacific Legal Foundation on the infamous love letter ban, watch the full episode for their hot takes on all these trending topics.
Zillow’s dismal outlook
Zillow recently lowered their expectations for this year on house appreciation from 16.5% into the 14% range which just goes to show that even with all the data Zillow has at its disposal, they still can’t accurately gauge the market. Keeping Current Matters shows us the home price prediction for the next five years slowing down but continuing to appreciate.
“There is a shift happening, whether you talk about the number of agents that are getting out of the market, or that trillions of dollars have been erased out of thin air, to the higher interest rates. These things will make an impact.”
NAR dues go up
The increase in dues, of just $10 a year, is going to be allocated to the ad campaign that the National Association of REALTORS® created in 2019. This campaign is getting promoted for the next five years, which will make the “We Are R” consumer facing initiative last seven years in total.
“While the $10 a year is just a cup of coffee for all of us, what are they doing right now to benefit the agents who are doing the business?”
And The Broke Agent is questioning his choices with a career adjacent to real estate with required continuing ed classes he keeps putting off.
The infamous love letter ban
Last year, Oregon became the first state to pass a law to banning real estate brokers from transmitting non customary communications between homebuyers and sellers, citing home discrimination potential.
However, just hours ago, the ban was removed for good by a federal judge acknowledging that the ban violates freedom of speech for real estate brokers and potential buyers.
“Realtors are held to a higher standard. We’ve got a code of ethics we have to follow. It’s still very dangerous to present those and maybe it should be an NAR policy if they are actually going to do something.”
“Love letters are a direct violation of fair housing, so I am throwing them out myself and I think they should be banned everywhere.”
A TikTok “Be a Realtor” Series
Brooks Landry Group is pulling out funny circumstances and cliche real estate agentisms, some content pulled from yours truly, The BA, and has created a “Be a Realtor” series which is hilarious.
“He’s turning the cliche Realtor and making it into a funny TikTok or Reel. I think it’s good content, he’s blowing up, he’s getting hundreds of thousands of views.”
Go check out some of these videos for a good laugh.
Watch the full episode here for the full stats and agent reactions from the above topics and how KCM is hooking you up with free customizable content.