Patti Ketcham, one of the most sought-after instructors for real estate continuing education, discusses upcoming changes to the real estate business after the NAR settlement. In this webinar you will learn:
• How we got to where we are and why
• What's required as of 8/17
• To understand Florida “agency relationships” and Buyer Representation
Forms: Buyer Broker Agreements, New Compensation Agreements, Showing Agreements
With all of that information, I would love to pass it over to the wonderful, the amazing, the fantastic.
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We're so happy to have her here. Patti Ketchum. Patti, when you're ready, you can take it away. Thank you so much, Niki.
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Welcome, everyone. we're going to have a meeting with several hundred
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of our closest friends. Let me tell you what we're going to talk about for the next hour and a half.
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We're going to talk about open houses. We're going to talk about showing agreements. We're going to talk about buyers
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that don't want to sign anything because they just met you. And now all of a sudden, you're acting like you're engaged to be married.
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We're going to talk about who's enforcing what. We're going to talk about how we got here.
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We're going to talk about, can we have buyers tell us to only show them houses where we're compensated
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through the listing office of the seller? We're going to talk about agency.
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We're going to talk about those cute little things y'all are posting in the mastermind groups.
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The latest one I saw was the little key. And the little tab on it has a number written, a percentage written there.
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We're going to talk about those. But most importantly, we're going to talk about transparency.
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And we're going to talk about moving forward in our new world. And I want to start with some words of encouragement, guys.
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I've been doing this a really long time since prior to the turn of the century. And when I first got started in real estate, Barnett Bank,
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which was a fabulous bank that were so good. Barnett Bank had 14% fixed interest rates.
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It was the end of the world. Nobody's ever going to buy a house again. Then we came up with home inspections
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prior to the turn of the century. Guys, people didn't do home inspections, and we started doing home inspections. Oh my gosh.
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Nobody's going to buy a house again because they're going to do home inspections. Then we had Chinese drywall.
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Then we had the period of great sadness between 2007 and 2013,
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which was longer and deeper than anyone anticipated.
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And now we find ourselves with another time to pivot. And I want you all to first of all, I want you to take notes.
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I want and get you out a piece of paper right now. And I'm going to tell y'all what to be write down,
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because here's some stuff I want you to capture moving forward for the rest of your professional career.
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And the first thing I want you to write down, and I am quoting my husband, Clay, people
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like to sleep indoors no matter what. Guys.
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People like to sleep indoors. Never forget that. And that's what we do.
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That's what we do, is we help people sleep in doors.
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All right. So we're going to be okay. It's going to be different, but we're going to be okay.
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Let me touch on a couple of concerns about that people have had about why have we
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gotten these documents sooner. You know, we're just now getting this stuff. Somebody should have trained us earlier.
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All right. Take a big, deep breath. Do y'all remember when.
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Well, when I was growing up, the only kind of service animal was a German Shepherd dog.
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And it was a seeing eye dog, and they got to come in to restaurants. That was it. That was it.
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That was it. So the pendulum was way, way, way, way over here. That was the only kind of service animal.
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And we realized that was too restrictive. That was too tight. So the pendulum started swinging like this, and it passed reasonable.
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And it got wackadoo when you had, support animals,
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support snakes at Disneyworld, support chickens in Disney World, it got crazy and Florida
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Realtors® during that whole time kept having meetings about property management.
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What do I do if their emotional support animals, a pit bull, and I can't get insurance for my apartment complex?
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I mean, Florida Realtors® was there for us during that crazy pendulum. And you had peacocks on airplanes.
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And I mean, we did a slight overcorrection. So we're doing the same thing.
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Guys, right now, this is the pendulum, and we're going to have to swing up over here to eventually
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