3 ms·
Fwiw a16z did a video on the realtor setup and ideas around interacting with companies more in the future for real estate: https://m.youtube.com/watch?v=IRPH3K1
by seltzered_ 8y ago
Fwiw a16z did a video on the realtor setup and ideas around interacting with companies more in the future for real
estate: https://m.youtube.com/watch?v=IRPH3K1GXj0 https://m.youtube.com/watch?v=IRPH3K1GXj0
I haven’t looked into the details of the article, but it seems interesting that the RE startups may have some shared interest in changing the 6% rule, although one could speculate their goals
may be to replace an “organic monopoly” of many agents with a (scaled techno-geographic?) monopoly.
Edit: the Hahn blogpost (https://www.inman.com/2019/03/08/what-the-bombshell-buyer-side-lawsuit-means-for-realtors/amp/ https://www.inman.com/2019/03/08/what-the-bombshell-buyer-si...) linked by the article posits the suit could be expanded to also involve larger RE brokerages and not just franchise orgs:
“The lawyers picked the top four largest real estate brokerages in their Complaint; I assume that they will quickly realize that RE/MAX and Keller Williams are not brokerages, but franchise companies, and will either amend the Complaint to include some other large brokerages (Howard Hanna? Compass? HomeSmart? eXp Realty?) and/or other large franchisors (Realogy brands, Exit, NextHome, etc.).
The basic claim is that the MLS rule of unilateral offer of compensation is a violation of the Sherman Antitrust Act.“