This week on the Knowledge Brokers Podcast, Byron Lazine, Lisa Chinatti, and Tom Toole kicked things off with an optimistic take on the housing market. CNBC recently interviewed United Wholesale Mortgage (UWM) CEO (and Phoenix Suns owner) Matt Ishbia, who remains focused on the advantages he sees today for consumers and the industry as a whole.
Next they addressed the gap between the 10-year treasury and the 30-year fixed, the increase in REFIs, and the question of whether the housing market is “savagely unhealthy.” That led to a discussion on the impact of AI on the housing market.
From there, they talked about whether buyer side commissions should be disclosed on the MLS, why Bright MLS is allowing $0 buyer commissions, and the importance of buyer agency.
Finally, they reviewed some recent stats on agents leaving the industry versus those who’ve switched brokerages.
Numbers for the latter came from a 1000Watt Agent Sentiment survey conducted the week of May 29, 2023, which yielded several surprising discoveries—including the number one reason agents switch brokerages.
Click on any of the timestamps below to watch:
00:51 CNBC interview with optimistic UWM CEO Matt Ishbia
04:20 We actually don’t need the 10-year to come down….
09:29 REFIs are up this week to about 30% of all mortgage applications
11:45 The Feds have to get these rates lower for regional banks.
18:24 Is the housing market “savagely unhealthy”? And for whom?
23:20 The impact of AI on the housing market and buying/selling process
28:40 Should buyer agency commissions be disclosed on the MLS?
39:06 1000Watt Agent Sentiment survey (week of May 29th, 2023)
41:01 The top reason agents are changing brokerages (1000Watt survey)
44:45 The Tom Ferry Summit (Dallas, Aug 22-24)
Click here to watch the full episode.
