Busting The Real Estate Cartel With Attorney Mike Ketchmark

• The NAR made itself a 501(c)(6) not-for-profit corporation to avoid paying taxes (4:30)
• Steering is a process where real estate agents steer their clients away from homes where commissions aren’t high enough (13:39)
• The real estate industry uses scare tactics to get home sellers to pay the commission fee. Unlike buying and selling cars, the typical homeowner might only sell twice in their lifetimes (15:00)
• Real estate commission takes a massive amount of equity built up by homeowners (19:00)
• Agents train buyers to say their services are “free”
• Real estate brokerages and agents are earning both sides of the transaction
• The NAR and other real estate brokers are afraid buyers will pay buyers agents what it’s worth (22:20)
• Google “your state + housing development commission” to see what type of free money there is for first-time homebuyers in your state
• When Mike thinks real estate commissions will begin to materially come down (28:10)
• The power of the 7th Amendment in forming a jury of private citizens to stand up to the most powerful people in real estate (37:30)
• Where was the Department of Justice and the Anti-Trust department given this ruling? Did they fail us? (38:40)
• The economics of being a trial lawyer on a contingency fee (41:46)
• First bill from expert witnesses for $1.7 million (44:10), then you’re pot committed
• The process of the law firm actually getting paid after a win (46:45)
• Working together as a family to keep each other going (48:57)

Real Estate Collusion Revealed! Misaligned Commission Incentives

The NAR Settlement’s Impact On Commissions And Home Prices