Familia, We’re Back! Last week, NAHREP announced their headliners for the NAHREP at L’ATTITUDE convention in San Diego on September 29th – October 2nd. Chopra, Vaynerchuk, and Montañez headline this year’s event. Coming out of a once-in-a-century pandemic, we thought a focus on mindset and mental health should permeate throughout the event. Chopra is not a regular in the real estate convention circuit, so his participation is especially interesting. The doctor built his global brand as a wellness expert but has more recently written books that apply his mindset principles to success in business. Vaynerchuk, or Gary V as he is known to his legion of followers, is not someone I would typically invite to a NAHREP event. He can be coarse and dismissive. He is known for telling people that college is a waste of time and money, and he is on record saying that buying a home is stupid. However, as a social media and digital marketing savant, Gary V is extremely popular in the real estate community, and over the years, I have come to realize he is an exceptional communicator with a ton of useful ideas and messages. Chopra and Vaynerchuk bookend the event that will also include workshops and an educational track. Richard Montañez, the author of the book “Flamin’ Hot” chronicles his rise from janitor to marketing executive for one of the world’s biggest brands, and Gloria Calderón Kellett, the writer and showrunner for “One Day at a Time” also headline general sessions. By the time the event takes place, NAHREP would have gone more than two years since our last live national event, so needless to say, we are excited to be back in person. The real estate industry has been one of the few sectors that have thrived during the pandemic, but with inflation on the rise and housing inventory at an all-time low, there may be major challenges coming down the road. L’ATTITUDE will also announce its program in the coming week and is expected to include some of the biggest names in business and entertainment. It feels like the content and subject matter of our event could not be timelier.
This week, in a brief to the judge of a major antitrust lawsuit known as Nosalek, the U.S. Department of Justice called for decoupling buyer and seller agent representation. If the DOJ gets what it wants, it would mean that listing agents would no longer be permitted to share their commissions with agents representing buyers, and buyers would have to pay out of pocket to have an agent represent them.
I was in D.C. on Friday for the celebration of life for my friend, Dave Stevens. Dave was a former FHA Commissioner under Barack Obama and an icon in the mortgage banking industry. I was lucky to know Dave as a good friend.
If you’re not familiar with the Sitzer class action lawsuit against the National Association of Realtors and several of the largest real estate brands, it centers on how real estate agents are compensated. The lawsuit claims that the practice of seller and buyer agent cooperation or sharing of commissions is an anti-trust violation and has resulted in inflated commissions paid by consumers. While a jury in Missouri has already sided with the plaintiffs, the judge has not rendered a final verdict.