CLEAR COOPERATION POLICY EXPLAINED: Darryl Davis Interviews Rory Golod w/ Compass Realty

What happens when two influential voices in real estate challenge the industry’s most debated policy—live and unfiltered? Understanding.

In this powerful, no-nonsense conversation, real estate coach and bestselling author Darryl Davis, CSP, sits down with Rory Golod, President of Growth at Compass Realty, to unpack the Clear Cooperation Policy (CCP) and what it really means for agents, brokers, MLSs, and the future of the industry.

No spin. No fluff. Just the facts that matter.

📌 Topics Covered:
✅ What the Clear Cooperation Policy (CCP) is—and why it matters more than ever
✅ Why Compass is challenging the status quo (and what you should know)
✅ The Compass vs. Zillow battle and what’s at stake for private exclusives
✅ The ripple effect on MLSs, local boards, and NAR’s role
✅ Is Compass disrupting—or saving—the industry with its 3-Phase Marketing System?
✅ Q&A with straight answers to the hard questions

👉 Whether you’re an agent, broker, board leader, or executive—this is the conversation you didn’t know you needed to hear.

Transcript

Compass vs. the Status Quo: A Deep Dive on the Clear Cooperation Policy with Rory Golod

[00:00:00] Darryl: Hello. This is Daryl Davis and we've got a very special person with us today, the president of Compass Growth. And that's Rory Gaad. Did I say that right?

[00:00:11] R Rory? Yep. Good. I've been practicing for several days. Um, so before we get started, I do want to introduce and give a little bio. You know, I was really impressed, Rory, that, um, so correct me if I'm wrong on any of this stuff. You, uh, you had BA from University of Richmond where you won the Robins School of Business Plan competition in 2008, which is oppressive because business planning is so important.

[00:00:38] Then you did global analytics for Bloomberg. Strategic operations for that software company. Yext. I think Yext. Yext, okay. And, uh, but what I'm really impressed about is how you joined Compass before it was actually called Compass, it was Urban Compass 2014. You hold multiple leadership positions. And the reason why [00:01:00] I'm impressed with that is because when you have, as a, as a business owner myself, when you have somebody who comes in on the ground floor where you only had like 20 or 30 people in the company, in one office in Manhattan, and you've, you've grown to the level where you are personally, um, I'm sure that Robert and the rest of the leadership team are blessed to have you because obviously you're a good team player to be around as long as you have.

[00:01:27] So, um, I, so that's awesome. So thanks for being here. 

[00:01:31] Rory: That's very kind of you. Uh, thank you for having me. Um, big fan of yours and, and everything that you do. Thank you. Yeah, it's been an amazing journey. I've been in Compass for 10 and a half years. And I joined, as you said, when we only had about 25 people in the whole company.

[00:01:44] We were Urban Compass, so we weren't even Compass yet. Our branding, our logo, none of that existed yet. And we were, we were in one small office in New York City trying to figure out this business. And fast forward 10 and a half years, we have now over [00:02:00] 40,000 agents, over 500 offices. We're the number one brokerage by sales volume in the country.

[00:02:05] And I've been just really lucky and fortunate. I've got to, I've done just about every job that has ever existed at Compass at one point or another. And so now my role is I'm president of growth, I oversee communications, and then I also run half of our core business. So we split our business into two halves, the east and the west.

[00:02:23] Mm-hmm. Um, my colleague, Netta Navo runs the east and I run the west. So I still am very close to the day-to-day of our agents. 

[00:02:31] Darryl: Awesome. Now, uh, because we have, we have two groups of people on this call, pretty much. Some of these are coaching members, they're called power agents. And then there's another group that may not even know me.

[00:02:41] So just to give a little background for everybody, um, so I've been in this business for over, um, she's over 35 years. More than half my life has eaten sleep and drink a real estate either as an agent, broker manager, or as a now author and coach. So, um, this conversation [00:03:00] is gonna be real important because there has been, um, so I predicted, um, that when we had the, uh, settlement.

[00:03:11] And what that was gonna be with the class action lawsuit. Mm-hmm. When all of my colleagues were telling people, don't worry. Business as usual, nothing, don't, there's no change happening. I was telling all of our coaching clients, no, I could plan for the worst hope for the best, and we're gonna see a major shakeup.

[00:03:26] So our power agents were prepared for the shakeup that happened. Well, I wanna prepare everybody that the next lawsuit is on the horizon for NAR and it's gonna be an antitrust violation over the CCP. And unfortunately, unfortunately, people that I respect in our industry are using Compass as the distraction and the scapegoat to justify their opinion and their position on where they think we should be with the CCP and they're driving us over a cliff.

[00:03:57] Now I, before I go any further, Rory. [00:04:00] I wanna share with everybody, I wanna create a listening and a context of who I am in the matter of this, because I don't want people to misunderstand why I'm doing this with you. Um, and so I'm gonna share a screen. So this is a little different. Uh, Sarah, you can spotlight me.

[00:04:15] And, um, what I'm gonna share is just before we get into this serious conversation, and by the way gang, everybody that's on this call, we're going to hopefully have time for you to ask Rory specific questions as well. Definitely. So, but I want everybody to know where I stand on this. Number one is me and my company, my coaching members.

[00:04:35] We believe in, in, in realtor, we believe in NAR. And I'm saying that because I'm gonna sound anti NARI am not. I am, every agent who has a real estate license should be a member of NAR period. Um, but I don't like what we're doing. MLS is the absolute best solution for homeowners, I believe. I believe there's exceptions, but MLS is great.

[00:04:57] I'm not anti MLS, [00:05:00] uh, I am very pro the homeowner is the client, and we have a fiduciary responsibility to them. This legal fiduciary responsibility is the same level as lawyers have with their clients, and doctors have with their patients governed by state licensed law and not by NAR. The relationship between a seller and a listing agent is sacred.

[00:05:25] As you can tell, I'm already got my New York attitude on Rory. I'm start I was gonna say, we just started. It's only a seven minutes. Wait till we're into this thing. I may have to calm down. You down. You sound. One 

[00:05:35] Rory: of my relatives.

[00:05:39] Darryl: My team is gonna tell me, Darrell don't have a stroke in the middle of the webinar. Relax. NAR does not have the authority to interfere with our industry relationships with our clients. As such, NAR is an association and not a legal governing body. Somehow this has gotten [00:06:00] lost. Um, NAR has to stop telling us how to conduct our business.

[00:06:05] And we, my company, we're not like pro or anti Compass. Compass is one of our clients, just like Howard h and, and, and I can go through all these other companies. It doesn't matter. We are anti CCP because the CCP is a violation of antitrust. Here. Let me give a point to this. And by the way, shout out to Robert Kin on this because what I'm going to show, he gave me this thought, Rory, he showed at the convention there.

[00:06:35] This is everybody. I want you to see this. This is nas, a handbook on multiple listing policy. MLS. Do you see that word right there? Everybody? It says MLS, antitrust Compliance Policy. So NAR has this thing, listen, gang, we gotta stay compliant with antitrust. Let me read you what it says. Boards and associations of realtors and their multiple listing service shall not [00:07:00] enact or enforce any rule that restricts limits or interferes with participants in their relationship with each other in their broker and client relationships.

[00:07:09] That means sellers, that means buyers or in the conduct of business. And then it lists, for example, it lists several examples. Number seven, examples. Boards Association of realtors and the MLS shall not. Prohibit or discourage participants from taking office exclusive listings certification may be required from the seller, the listing broker, that the listing is being withheld from the MLS at the direction of the seller because they're the client, they're the boss.

[00:07:38] How am I doing so far, Rory? Am I hitting the points correct here? I mean at, 

[00:07:43] Rory: at this rate I don't think we're gonna have to talk about pretty much anything else. We could do coaching call, uh, and go through some role playing on how to win more listings, but I think you've hit the nail on the head pretty much.

[00:07:53] I don't know if there's anything else for me to say. No, come on. No, 

[00:07:57] Darryl: we can. Alright, but wait. [00:08:00] Alright, so Rory, thank you for that. Now listen, Rory, I want your opinion on this. Mm-hmm. So I wanna go over this chart. I created this chart for us last night. It was up till one in the morning getting ready. I was so, so excited that you were doing this to with me and 'cause I'm committed making a difference with the industry and getting clear on cutting through the noise.

[00:08:19] So I created a chart. Um, this chart shows the pro CCP people. This is their talking points. I'd like to get your opinion on each one of these. I have my opinion in that last column that says truth. So, for example, the pro CCP people. Um, Rory, before I do this chart, can you explain to the, the audience for maybe we got some new agents or whatever, they don't understand CCP, what it is.

[00:08:47] So can you explain? Yeah. 

[00:08:49] Rory: So CCP stands for the clear cooperation policy. Um, I like to call it the compass rule. The reason for that is because you gotta go back to where did it come from? Back [00:09:00] in 2018 and 2019, compass was championing the concept of what's called a coming Soon coming. Soons have existed long before Compass.

[00:09:10] All it was were listings that were on compass.com. So our website, which anybody can access, any person can go to compass.com and they could see these coming soon listings. And what they were were listings that were going to be, as they were called coming soon, they were going to go onto the MLS they were going then once they were on the MLS get fed to all the aggregators and all the portals.

[00:09:33] But they were first on compass.com for a few days. Now why would they be on compass.com? First? They were on compass.com first 'cause compass.com does not show Days on market, does not show price drops or price change histories and shows the true listing agent. And when agents were going to sellers, they were saying, I.

[00:09:51] Look, let's make sure we build our exposure in phases. We want the most exposure, but we should do [00:10:00] it in phases. No company, no brand, no service, takes a product and just throws it out there for the whole world. So we're gonna put it on compass.com as a coming soon. We'll put it on there for a few weeks.

[00:10:10] You don't have to worry. We're not gonna start that days on market clock, which is the killer of value as that goes up and up, and maybe I'm telling you as your agent, I think the home's worth a million. You think it's worth one, two, you know, we'll put it on as a coming soon at one two, we'll get some feedback, we'll see how it's going, and then it will go to the MLS and it'll go to the full market.

[00:10:29] And we'll make sure we're priced accurately because pricing is difficult enough, let alone doing it without any feedback. And by the time it's hit the MLS and it's gone out to all the portals because it's been on compass.com, people have seen it. I've probably gotten some inquiries. Our first open house probably has more traffic because now we're not starting from zero.

[00:10:48] And we can be better positioned. It was incredibly successful. We talk about seller choice. Sellers chose to do that, right? Their agents didn't force them. Mm-hmm. The seller said, [00:11:00] sure, why don't we do this? And it got really popular and there were thousands of listings that were on compass.com before they went to the MLS and before they went to the portals.

[00:11:11] Now, 

[00:11:11] Darryl: now go ahead. Go ahead, go ahead. What happened 

[00:11:14] Rory: was that NAR and certain MLSs, and probably some companies got together and said, you know, we don't like this because this threatens the control we have over the industry. If listings are not forced into the MLS and portal ecosystem. Then that threatens the monopoly we have.

[00:11:35] Mm-hmm. Now, again, I love the intro part. You, you included that first slide 'cause everything you said on there, we fully believe at Compass, we believe in a strong MLS, we believe in there should be a strong trade group that lobbies for the best interests of agents. Everything you said I fully agree with, but at the same time, you cannot tell sellers and agents that they can't get creative in [00:12:00] how they wanna market, that they can't have every option available to them.

[00:12:03] And what happened was nar, MLSs and probably some companies got together, had a meeting, voted and voted to come up with the clear cooperation policy, which says any listing that is publicly marketed needs to be in the MLS within 24 hours, which effectively killed that program. Now what they did was they took all those listings that were on compass.com, that were not pocket listings, they were not off market listings.

[00:12:34] Anyone could see them just by going to compass.com. And they effectively forced them to all become pocket listings because then at that point, the only way you could pre-market test price get feedback from other brokers was to then do a private exclusive or run off market. So that is what CCP is. And I think the biggest confusion, the biggest point of, of contention and confusion around CCP is I [00:13:00] think some agents think that it's a rule to prevent agents from other companies from withholding inventory.

[00:13:11] But that's not actually what, it's that we, every company believes in sharing of information. I will say it on record for everyone here. Compass would share. All of its off market and private exclusive listings with any firm, any company that agreed to not alter the listing, monetize the listing, or change it in any way, meaning put someone else's name on it.

[00:13:39] Darryl: Right. Let me ask you a question to this point, because this is how I used to do it as an agent, and by the way, before I, I role play this with you, I want everybody to hear what I'm about to say, and that is this. If you don't like Rory's answer, if you think he's full of bunk, if you, ah, compass, they just [00:14:00] wanna line their own pocket of money on Baba Baba, fine.

[00:14:04] If, if that were true, that still does not give NAR or anybody the right to tell that company how to run their frigging business because that's an antitrust violation. They can do whatever they wanna do, and that's the part people are missing. That's the part people are missing. Our industry's missing now.

[00:14:28] I very much 

[00:14:28] Rory: agree with you there, 

[00:14:29] Darryl: Rory. This is how I did it. Okay, so I'm gonna ask you a question. Let's make believe I'm back in real estate. You've got, you've got an exclusive listing. It's coming soon and it's not on MLS. Hey Rory, I saw your listing at 10 10. Hunter, hunter Lane. I know it's not an MLS, but can you do a co-broke with me?

[00:14:48] 'cause I got a buyer that I would love to show the house to. I think it'll be a slam dunk. Can we do that? Go? Absolutely. Okay, thank you. Alright, now let's go to the, let's go back to my [00:15:00] chart. What I'd like you to do is I'd like you to comment on the pro CCPs talking points, and Sarah, if you'll spotlight me again please.

[00:15:09] And, um, so that way people can read it. I'm sorry about the small print, but there was a lot to say promotes cooperation. So Pro CCP is saying it ensures all MLS participant participants have access to available listings. What, say, what say to that. Do you, what do you 

[00:15:27] Rory: say to that? A absolutely. If you're a participant in the m ls and you pay for the MLS, you should have access to all the available listings.

[00:15:34] Right? So, and, and, and that's again, I think a lot of this is trying to get to the facts from the fiction. Compass is not encouraging a strategy for the purpose of withholding listings from the MLS Compass's. Only purpose for existing is to help agents give more choices and options to their clients so those clients have better outcomes and those agents win more business.

[00:15:57] That's it. That's the, that's all it is. [00:16:00] Um, so yes, I very much agree with that. 

[00:16:02] Darryl: Alright, so here's my thought on it because there's, and let me clarify my chart. It's almost like the, the, the, the pro CCP people are saying that you need this rule of CCP clear cooperation policy putting on MLS within 24 hours in order to promote cooperation suggesting without CCP we don't have cooperation.

[00:16:24] Well, my truth to that is. Um, we've been cooperating since 1885. The first sharing of MLS or listing information, not MLS, uh, uh, information was in Chicago. In a meeting, a bunch of brokers, they stood in the room and they basically shared their listings. That was the pre MLS system, and we've been doing that since 1885.

[00:16:46] So, CCP or no, CCP, we still would cooperate. So that's, well, 

[00:16:50] Rory: and, 

[00:16:50] Darryl: and, and to add to that, 

[00:16:52] Rory: let's go before CCP. So, CCP was 2020. Compass was founded in the early 2000 tens. 

[00:16:59] Darryl: Okay? So 

[00:16:59] Rory: we [00:17:00] existed as a company for years through 2010 to 2020 in that decade, CCP was not a thing, and I would, I would reckon that if you asked a number of agents, what would you say was business from, call it 2014 when I started Compass till 2020.

[00:17:16] Were we in this terrible Armageddon like scenario where listings were being hidden and, and, and clients couldn't get access to things and agents couldn't get access to things. And a thing of every sort of scenario that everyone's describing would happen that did not exist from 2014 to 2020. In fact, no one ever talked about this at all.

[00:17:35] And so, right, the world where portals existed, technology existed, websites, all of that. So, uh, I very much agree with that point. 

[00:17:44] Darryl: Alright. Now they say increase transparency. So we need to have CCP, we must have it to increase transparency to provide a more open and fair market. So, suggesting without CCP, we don't have increased transparency.

[00:17:59] What's, [00:18:00] what do you say to that? Exactly 

[00:18:01] Rory: what I just said. Prior to CCP, we operated visits for a very long time with tremendous transparency. And actually the irony is CCP is what's not transparent. Think about the example I gave before, before ccp. Every one of those listings was on compass.com. Everybody could see it.

[00:18:22] C CCP forced those listings effectively underground, if you will. I'll give you another example. We, uh, we came out with this concept about two months ago for a listing book, right? A lot of people. You know, gave us a lot of heat for it. 'cause they're like, you're a technology company. Why are you printing a book of your private exclusives and off-market listings and putting in all your offices?

[00:18:44] And the reason is, we would love to share those listings with everyone via software, via technology. But because CCP does not allow for that, we are forced to put them in a book and tell agents, if you wanna see our off market listings, which by the way, we're the only company who's [00:19:00] actually doing this. No other brokerage is saying, you can come to my office and I'll give you a book with all of my off market listings.

[00:19:07] But we have to do that because of CCP. So what's more transparent? Compass wanting to share every one, every one of its private exclusives and off market listings with every brokerage or CCP forcing us to not be able to do that, have to put them into a book and tell people they have to come to our office to see them.

[00:19:28] Darryl: Well, so, and here's, here's, here's what I say to the people that say, in CCP, well, you have to have CCP for transparency. I'd say, okay, as a listing agent, we have fiduciary responsibility to the client, not to the market. Plus, transparency is the wrong word. We can still be transparent and have an exclusive listing, which is what you just said, Rory.

[00:19:49] So I wanna say it again to all of my CCP colleagues that are saying, you must have it for transparency. No, you, you don't need CCP. You can still be transparent. Rory just gave an example. [00:20:00] Uh, sellers have a choice. This one gets me twisted. So if, and if you haven't noticed, I'm already twisted here. So sellers have choice.

[00:20:09] Sellers can choose an open listing. So talk to that. 

[00:20:14] Rory: Yeah, this is one of my favorite ones. Why should an agent and their client have to give up exclusivity in order to have choice? Why should, in order to have the choice to market the home, however, I would like, why should I have to give up exclusivity?

[00:20:33] Right? Why should I, as the client have to say, you know what, I want choice, but that means I can't sign an agreement with the agent that I want to work with. That there's no other industry. You used attorneys before. Imagine going to your attorney and they said, Hey, there are three different ways in which we could approach this case, but if you wanna choose one of those three ways, you can't actually work exclusively with me.

[00:20:59] [00:21:00] We've gotta figure it out and work with a bunch of people, and maybe I'll represent you, maybe someone else will represent you. It, it's almost crazy to 

[00:21:07] Darryl: even have to think about it that way. Well, what what blew my mind is I was watching, this is what I mean by, uh, our industry has gotten so. Dis distracted from the real point here that they're making up weird things.

[00:21:22] Like, to me, the, like, so for example, uh, I don't know if I wanna say his name. You did another interview with somebody. He's done a, a tremendous amount to our industry, but this is a, this guy was arguing with you saying, well, Rory, open listings is a choice. Do you go on a listing appointment and tell the homeowner that?

[00:21:44] Why don't you do an open listing and, and encourage the, the open li like they were arguing that, that all co all agents should push open listing on a listing appointment and explain that as a choice to the homeowner. I wanna ask everybody that's watching, I want you to use your chat. [00:22:00] Everybody, I'm looking at the chat.

[00:22:02] I'm, I'm going to do a quiz. I want you to write in the chat when a homeowner says to you, listen, um, you can show my house. Um, and if you bring a buyer and you sell it, I'm going to pay you a percentage. I'm not signing a listing though. I wanna sell it myself. I'm not signing a listing. But bring me a buyer and I'll pay you.

[00:22:24] Can you tell me the other name for that person? What is that name for that per, what do we call that person in our industry? I'm looking at the Yes, yes, yes. Fsbo. It's called a fsbo. So you've got real estate leaders arguing that you should be telling homeowners to be a fsbo. 

[00:22:46] Rory: It's, yeah, it, you know what, actually, here's act a great way to think about it.

[00:22:51] Anybody, if you are a coach, if you are a real estate analyst, if you're someone who's invested in this industry. Would [00:23:00] you ever advise any of your clients to do what you just said? And the answer is absolutely not. And the people that are saying, well, great, if you wanna have seller choice, you can just do an open listing.

[00:23:12] My question is, how many of your clients are agents? Are you encouraging to do that? And the answer is zero, because as you said, that is not an actual answer. That is a made up concept to try to create an argument that makes no sense. 

[00:23:29] Darryl: Exactly. This is what I mean by I, I and Rory. I. The reason why I'm getting so excited and I apologize if I'm annoying anybody, that I'm being too excited.

[00:23:39] Really. I mean that, but I, I, I, I am, I can't, I don't wanna mention names because these are big players, people I respect. I was sitting at, at an Inman conference talking to somebody, my God. And they were arguing this point with me as to why we need cc, why we don't need to cancel CCP, because we [00:24:00] have the open listing option for homeowners.

[00:24:03] And if any broker would encourage their age, can you imagine? Everybody? Let's just, that's the other thing. It's the people are villainizing. You guys say you just want the double dip in the money, and it's about the money. It's about serving. Alright, let's all just, like, let's not even charge a commission.

[00:24:18] Let's just serve homeowners and donate our time because we're not in a business to feed our family. 

[00:24:25] Rory: Yeah. I, I, I very much agree with you on this point, and that's why it's not an actual. Real arguments. It's not, it's not not a real position. It's, it's made up. It's ludicrous and it's not even worth spending time on because not a single agent and not a single agent who's even concerned or disagrees with what we're doing or, or trusts or believes, maybe their brokerage leader who disagrees with what we're doing.

[00:24:48] Not a single one of them would ever, um, agree to do an open listing or encouraged their own clients to do a fizbos. Think of it this way, would an agent ever put on social media? You should all do fizbos in open listings. Never. [00:25:00] Um, and you mentioned one other thing, and I I think it's really important to address this.

[00:25:04] There are a lot of people who are out there saying, well, compass is only doing this because they want to double end deals. They wanna hold the inventory inside of Compass so their agents can be on both sides of the deal. Now one, the numbers tell you that's not actually what's happening. We, we put this number out, and again, we're publicly traded companies, so we can't put out stats and numbers that are not real.

[00:25:25] If we were to do that, we can get in a lot of trouble. People can go to jail. We put out the number and said 94% of the listings that go through the Compass three phase marketing strategy. Right. So start as a private exclusive, become a coming, soon, go to the third phase, which is on the market. So 94% of the listings end up on the market.

[00:25:44] Mm-hmm. Of the 6% that don't, the majority of those are co-broke with an agent at another firm. 

[00:25:51] Darryl: Mm-hmm. So what does 

[00:25:52] Rory: that leave 6%? The majority would be more than three. Mm-hmm. So you're talking under 2% [00:26:00] of listings, under 3% of listings that are d deals where Compass agents do now. Yep. This is the most important thing to, to consider in this.

[00:26:08] So one, the numbers tell you that's not what, that's not what's happening. In a world of buyer broker agreements, which we have now, because as you said, the lawsuit last year meant that now every buyer needs an agreement. Mm-hmm. With 

[00:26:20] Darryl: mm-hmm. 

[00:26:21] Rory: A Compass agent who has a buyer, they have an agreement with that buyer.

[00:26:26] If a Compass agent has a listing, so let's pretend Rol, you're a Compass agent, you have a listing, I'm a Compass agent, I have a buyer Compass, the company is going to get a piece of that buyer commission whether we buy a Compass listing or not. Mm-hmm. So if you have the listing and we're both at Compass and I bring my buyer and we do a deal, yes, compass gets the buyer commission and the seller commission, and if you sell it with someone else and I bring my buyer to a non-comp listing, compass still gets my buyer commission because we have an agreement.

[00:26:56] So the concept of double ending [00:27:00] mathematically doesn't actually make any sense. 

[00:27:04] Darryl: Well, I'll say, I'll say this. Listen, if we're honest now, now eight, everybody pay attention to this. If we're honest. I don't think there is any broker in the United States. If they had a choice of, of, of listing and selling or just listing and getting the listing side.

[00:27:25] I don't think there's any broker that would tell their agents, don't try and get both sides of the transaction because that's business to generate both sides of a transaction. Now, if you do it at the risk of hurting the seller, giving bad advice, well that's a fiduciary violation and legal license problem.

[00:27:50] So, no, this is how I used to do it, Rory. I used to say to a homeowner be, and by the way, just if the agents watching who are in states that discourage [00:28:00] dual agency, that's a state thing. And in some cases there's actually licensed law that you can't do dual agency in a handful of states. So that's the exception.

[00:28:09] But like me as a New Yorker, I would say to a homeowner, Mr. And Mrs. Hunna, what we can do is go right to MLS, but there's another option. We can just do it in-house. For 30 days, I would like to do this for you. Here's why. Um, have you ever had the holidays where, like my wife, when we do the holidays, she, she used to be a pastry chef, by the way, Rory.

[00:28:36] So when we have family over, you know, that's a real asset during the holidays. I, I'm te telling you, so, but here's what happens. She's in the kitchen. She, you know, chef thinking she's a get, get out and, but people, the family, they want to help. So they come into the kitchen, they help and of course she's, she's wonderful.

[00:28:52] She smiles thank you to everybody. And then when everybody goes home, she yells at me for not keeping them out of the kitchen. 'cause it's in the [00:29:00] way. So this, this is, I say to a homeowner instead, when there's another agent involved in the transaction, you got two cooks in the kitchen. There's more possibility opportunity for a communication breakdown.

[00:29:11] Whereas if I am only one in the kitchen and the buyer has a problem, I can deal with that problem. Quicker than if I gotta do this, this telephone chain. Talk to the list, talk to the selling agent. The agent talk to. So now I will say, honestly, if we don't go to MLS right away, we're not gonna maybe have the activity.

[00:29:30] We may not get the surge it, and it could impact the price, but it'll be a smoother quarter transaction. It's up to you. So that's how I presented it, Rory, because I, I believe that's true. I believe it's better for my client to have just me do both sides versus having the whole thing. And so, as long as you explain it honestly, and they choose, that's the choice that they have.

[00:29:54] And by the way, there are some homeowners, you know, this Rory, that they would choose. To maybe [00:30:00] lose a few thousand because they want peace. They don't want a whole bunch of Mama Mauk agents coming through Step BA and overwhelming them at how we know this is true is that's why Iyer even worked. They, some people, they knew they will lose their money when they did the iyer, but they liked the idea of no stress, quick and easy.

[00:30:19] Right. 

[00:30:19] Rory: Well, let me, let me share a couple things around that. Yeah. Compass, we have never, once ever in the history of the company, ever promoted, encouraged, coached, or taught people on how to double end deals or Okay. Or dual agency. We are completely agnostic to it. Okay. Certain states, as you said, do not allow it.

[00:30:40] Um, certain agents, I know certain agents who don't wanna do it. I, I was spending time last week with one of our top agents in, in, in the company an an agent who did $112 million transaction. $112 million transaction. Wow. One of the most homes in the United States. And [00:31:00] so this is someone who is incredibly successful and said, you know what?

[00:31:05] Um, he's on a team, said myself and my, my co-team leader on our team. Okay. We, we really try not to represent both the buyer and the seller. That's their choice. And, and some agents choose to, and as you said, some clients are fine with that. The, the truth of the matter is 80 to 90%, I don't have the exact number of transactions in our business are Cobra.

[00:31:25] Meaning an agent's ing the buyer, an agent's ing the seller. And that cooperation is good that, that's good cooperation. Mm-hmm. Sometimes a buyer comes in directly to an agent, they do a transaction. There has been this, um, sort of push, if you will, that people think. This is all we're doing is trying to do that.

[00:31:48] But again, there is no benefit to Compass because one, a number of the states, you can't even do it in number two, I just explained, we don't make any more money if that happens. So if you assume that our [00:32:00] intent is just financial, let's just assume that for a moment we're not benefiting more so from that financially.

[00:32:07] Um, and third, ultimately it's going to be the choice of the agent and the client. Mm-hmm. I like to think that the agents at, at Compass, because we have the most productive, the most successful agents in the industry are doing things based on the best interests of their clients and are not doing this because they're trying to double end the deal.

[00:32:29] And I think it's really important to sort of really understand that point. 

[00:32:34] Darryl: And, and, and, and by the way, once again, like I, I said at the beginning of this, I. Is that even if you guys were the, the nastiest, worst vulture thing that people are trying to make you out to, that's not in anybody's business.

[00:32:50] There's laws that say you guys run your business the way you wanna run it, and if you do anything illegal, you'll, you'll create your own class action lawsuit and everybody will [00:33:00] sue Compass in the United States. 

[00:33:02] Rory: And, and that's, and that's exactly the, the point. Now there's another thing I think that's really important to mention here, because I'm hearing a lot of the narratives that are sort of coming up right now are focused on this idea that maximum exposure is what you should be focused on.

[00:33:18] Listings need to be seen by everyone. Right? Compass has, has never come out and said that's not the case. I do think there actually is a really interesting question, though. We should all ask ourselves. Just take one moment, ask ourselves why is it that the most. Sophisticated, financially motivated and successful sellers.

[00:33:38] Home builders and developers sell hundreds of thousands of homes every year off the MLS. Mm-hmm. These people are incredibly sophisticated. They, many of these companies are multi-billion dollar companies who are very smart, who are not gonna do something if they think it's gonna leave money on the table.

[00:33:55] It's a, it's a good question to ask, why are they selling homes? The [00:34:00] MLS, we don't have to get into that now, but just something to think about. 

[00:34:03] Darryl: Well, and, and, and just from a double standard standpoint, you know, so nobody's tackling, tacking the builders for not putting their houses m ls, not 

[00:34:11] Rory: exactly. So that every home builder is allowed to do exactly what we're saying.

[00:34:15] I think this is such an interesting thing that's lost 

[00:34:19] Darryl: what everybody has to understand, who's watching this, and we've gotta spread the message, is that the compass attack is a distraction from the truth. Which is the MLS and, and by the way, I am not anti for people came in late. I'm not anti na, anti-real.

[00:34:39] I'm the opposite pro realtor pro, and this is why I am passionate about that. NAR is crossing the line and breaking antitrust laws based on n NA's own antitrust policies for gosh sakes. Let me finish this chart with you because I wanna make sure we, we get all this here and then let me just, I gotta make my [00:35:00] Sarah spotlight me because Thank you very much.

[00:35:03] Um, this, uh, next one is benefits consumers, more agents, more showings, higher selling price, and buyers see all houses for sale. So by forcing all agents to put all listings on MLS, it's benefits the consumer because it's more agents, more showings. What do you say to that? 

[00:35:21] Rory: This is exactly the point I was I was gonna make before, which is.

[00:35:25] It is called the Compass three phase marketing strategy for a reason. There are three phases. It's not the one phase strategy, which is off market. No one ever sees it. This is a marketing strategy. This is not a sell your home off market strategy. I think the biggest confusion point and, and as you said, most of the people that are pushing this know this is the case.

[00:35:52] They're just trying to sow confusion, is this is not compass encouraging anybody to sell your home off [00:36:00] market. Selling your home off market fully for the whole transaction is usually reserved for bespoke, unique situations. 

[00:36:07] Darryl: Mm-hmm. 

[00:36:07] Rory: But we are encouraging homeowners to evaluate and make the choice to decide is do they wanna leverage the principles of multi-phase marketing to build interest in anticipation so that when they do go to the MLS, when they do go to the open market.

[00:36:23] And they get all the exposure. They're priced right. They're positioned right. They didn't just burn a month of useless days on market. They don't have useless price changes that hurt their property and they don't look the same. Mm-hmm. One of the things that I think is very, um, it's, it's almost funny when you think about, is imagine going into a living room, into a listing presentation, and you're meeting with the seller and the seller says, talk to me about what your marketing plan and strategy's gonna be.

[00:36:51] And you say, I'm gonna take your home. I'm gonna do the exact same thing as every single agent in the United States. [00:37:00] I'm gonna put it on the MLS and I'm gonna hold an open house, and then you pause. That seller is going to laugh and say, what? Why am I hiring you? Right. An agent who comes in and says, look, I have multiple options and choices.

[00:37:17] We can do this so many different ways. We can pre-market it as a private exclusive for five days. We can test price. Maybe you're not ready to sell yet. We need a photograph. We need, you know what? I want to get some feedback. Maybe there's some stuff we gotta figure out. We want to tier the exposure like a movie trailer, build it up.

[00:37:35] Mm-hmm. So we do hit the market. More choices for sellers equals more success for them. Mm-hmm. Sellers are not asking for less choices. No. Seller is saying, I want one way to sell the home. That's the same as everyone. Right, 

[00:37:51] Darryl: right. Absolutely. Very good. Well, my, my thought on this is that when acting as a listing agent, your job is to benefit the seller only not [00:38:00] consumers and buyers.

[00:38:00] That's another point people are missing. The fiduciary 

[00:38:03] Rory: is to the seller. If you're to the seller. 

[00:38:05] Darryl: Period. 

[00:38:06] Rory: Yes. 

[00:38:07] Darryl: Period. Period. And stop. So does it. Now, does it hurt buyers, consumers, I. If, if a listing is just with one company and other agents don't know about it, does it get a little less communicated out to all those buyers?

[00:38:23] Yes. Yes it does. Absolutely. But once again, everybody NAR does not have the right to tell you to me how to work with my seller, my client. That's my client. It's not N'S client. And if my client says, I wanna keep it quiet, I don't want my neighbors to know, I don't want, uh, open houses. I want to listen. What burns the heck out of this?

[00:38:48] I don't understand this. That we, if I'm a realtor and I want, a client wants to hire Darrell because they love me, I, I've been working for years. And Darryl, I don't want nobody else in [00:39:00] my house except for you. I wanna sign with you. And I have to say to my seller, well, because I'm a realtor, I can't not take your listing exclusively and advertise it in my newspaper or put it on my social media.

[00:39:15] I gotta keep it quiet because they're telling me that's what I, that that, who the hell What? Yeah, this, I don't understand how realtors are not pissed off on this topic. 

[00:39:28] Rory: Yeah. It's, it's, so, it is, it's one of the things that I think is, is the, is the, the hardest to actually stand behind, which is how are you telling sellers who own a home?

[00:39:39] You are nar, you're an MLS, you are Zillow. None of those entities, the seller is hiring. They did not invite them into their home. They did not interview them. They did not place their faith in them to sell this asset. How come they are then dictating how the seller is going to [00:40:00] choose to sell the asset.

[00:40:01] The decision should be the agent and the seller. That's why. Exactly. And, 

[00:40:07] Darryl: and to stop. And, and to stop. Period 

[00:40:10] Rory: now. All right, let, let's, all right. And, and one other thing that's I think really important here. Um, there's, and someone mentioned this in the chat, you know, being a NAR member is a choice. Here's the problem.

[00:40:20] We don't actually have choice in our industry. If you're an agent, how many, think of it this way. You're an agent. How do you operate in a world where you're not part of the MLS? You can't, you can't. How do you operate in a world where you decide, you know what? I do want to give my clients choice. They want different ways to sell, different ways to market, but I'm gonna rack up thousands of dollars of fines every single day that I try to do this.

[00:40:48] You can't operate that way, 

[00:40:49] Darryl: so, so there 

[00:40:50] Rory: is not actually a choice, and that is at the crux of what makes this antitrust, is because there is no choice. You're forced to do something. [00:41:00] We are not forcing anyone, any seller can sell their home in the world. We would love to see. The seller makes the choice, the agent executes on their behalf.

[00:41:10] Exactly. 

[00:41:10] Darryl: Alright. And I have something on that about the, what you just said. Alright. It says there's another one that gets me crazy. Um, well obviously this all gets me crazy. Promotes Fair housing compliance. So you must have CCP because it helps prevent discriminatory practices that could arise from limited exposure.

[00:41:29] What do you say to that? 

[00:41:31] Rory: So last summer when we were really digging into this, we met with two of the biggest home builders in the country. Uh, and we've met with a lot of home builders, a lot of developers, um, massive companies that obviously have been selling millions of homes in this country for a long time.

[00:41:49] And we said to them, you sell all of this inventory off the MLS, you don't put your listings in, you market them yourself. Aren't you worried [00:42:00] about fair housing? I mean, you must be concerned. Wouldn't there be all these lawsuits? Wouldn't people, I mean, you know, you're selling thousands of homes a year. One of them had their general counsel in the meeting and, and the general counsel laughed and he said, that's funny.

[00:42:15] That's a really good, uh, distraction from nar. I get what they're doing. That's really, that's really interesting. That's pretty funny. This is not a fair housing issue. We at Compass also hired one of the top fair housing attorneys. Again, we're a publicly traded company. We are clearly out there in the open.

[00:42:33] We're a target. Um, the last thing we would wanna do is do anything. There'd be against Fair Housing. And they reviewed every single thing and said, this is not a fair housing issue. Which is why there's no lawsuits about Fair Housing, right? Because there's nothing to do with Fair Housing because every consumer can go to compass.com, see the coming Soons, and that every consumer, we actually have it advertised on our site.[00:43:00]

[00:43:00] This is how many private exclusives we have. If you'd like to see them call a Compass agent or now go into our office. Asked to see them. No other brokerage is doing that. I've looked at all the other brokerages websites. I don't see a box on their website that said, right. We have a hundred private exclusives if you wanna see 'em, let us know.

[00:43:21] Darryl: Well, here's, here's, here's you, you're, you see, you're class Roy. 'cause you, you're so calm, cool, collected and you, you speak eloquently. Uh, not me. Here's my thought on it. Uh, LOL. So the only way to stop a seller or a listing agent from being a racist is that they have to put it on NA's MLS. That's my thought.

[00:43:43] That's so, so stupid. Alright, this last one I'm just gonna do real quick. Having all sales days on market, et cetera, is vital to the public and to other agents that, so, you know, this argument, if we don't put it on MLS, then we have, we may not have data [00:44:00] like list price, sales price. When did it close, da da da.

[00:44:03] So agreed. All listings should be listed on MLS for sales data, but that doesn't mean all agents need to show it. So you can still put it on MLS, but put it on as an exclusive before CCP is saying, listen, right now they're just with us. Uh, if you want a co-broke, you can call, et cetera, et cetera. So here's, here's the summary.

[00:44:22] Here's the noise. Compass is blank. Fill in the blank. Compass is, uh, the devil. Compass is selfish. Compass is the ones, just the money. All that other stuff, the real issue. Home sellers share your listing with all realtors or we're gonna interfere with your fiduciary relationship. That's the real issue. And that's what everybody's gotta pay attention.

[00:44:43] Everybody's gotta stop throwing tomatoes at, at, at Compass. 'cause here's the other interesting thing, everybody is that, uh, Howard Hannah real estate, one of the biggest companies in the United States, they're also not engaging, uh, Haie said, Hey, we're not [00:45:00] participating with the CCP. I don't see nothing. I don't see no tomatoes being, uh, thrown at Howard Hannah.

[00:45:06] Now granted, you guys are stepping up, you're fighting a good fight compass, and that's probably why you got the, you put the target on your back. I get it. And that's why I respect you guys. You're taking a stand and, and you're pushing back. But you know, here's, here's what a monopoly, here's the antitrust violation.

[00:45:22] When you have a monopoly and you have abusive behavior, that's when you're gonna start seeing a lawsuit. And there's two companies that are, that are aligning themselves up for that. And it's, it's clear to me that this is what's happening. You know, one of the things r um, Rory, that, that Robert said, which was really interesting, Zillow, you know, the other thing that's getting me crazy too is I'm seeing all these brokers and, and some other speakers who are, who are, who are, um, acknowledging or, or, or giving applause to Zillow.

[00:45:55] Zillow cares more for the customer. They're, they're, they're police. They're [00:46:00] policing our industry better than we are. I, what the hell, Zillow is, they wanna be the next Expedia for real estate. They don't, they, they're spending so much money. Have you seen all the ads? Zillow, uh, Roy saying Zillow is the friend of realtors or whatever that thing is.

[00:46:16] They've gotta post, post it everywhere. 'cause they're trying to counteract. The fact that they're not our friend. Um, but this is what, this is what, uh, Robert said, it's almost like we forgot that three and a half years Zillow bought two 20,000 homes as I buy convincing homeowners to sell off the MLS.

[00:46:33] Right? So, um, there's a few thoughts on that. I'm gonna, so anything else you want to add here? 

[00:46:40] Rory: Look, I, 

[00:46:40] Darryl: I 

[00:46:40] Rory: think you, you hit the nail on the head that the, you know, people are like, oh, there's gonna be all these lawsuits. There's gonna be all these lawsuits. First off, they know there's not gonna be any lawsuits.

[00:46:50] Um, you know, that, that they know that the lawsuit, uh, if there is one, is going to be on the companies and the entities that are acting [00:47:00] against the fiduciary, to your point of the agent, and ultimately engage in monopolistic and antitrust behavior. Mm-hmm. And again, there's no other industry that I'm aware of where the people doing the work, in this case, agents in our business, but in any other industry where the people doing the work, serving a client are told.

[00:47:20] Forced by a trade group and other companies that they're not a party to, that they have to do something a certain way. And what I don't understand is why is it that other companies and people in this industry are so afraid of giving sellers and agents choices? What are they so afraid of? Why are they so worried about that?

[00:47:43] Why do they want every agent to be the same? Why is it that our industry has to have the same exact marketing plan for everybody in a world of us as agents and, and in real estate trying to create more value? Mm-hmm. Should, shouldn't we be getting more [00:48:00] creative? Shouldn't we have more options, more choices?

[00:48:04] You know, think of it this way. The, the people who, and if I'm an agent, I would be looking to the people whose job it is to help agents grow their business, right? Mm-hmm. Compass only exists to help agents grow their business. Darrell, your job is to help agents grow their business. Tom Ferry. His job is help people grow their business.

[00:48:21] Tom Ferry has the four phase marketing plan program. He's coaching agents on a four. We have a three phase his, he has a four phase. Do we think that you and Tom and Rag Shaw and Steve Shoal and and Melanie Klein and all these real estate coaches that agents pay them money to help them grow their business and better serve their clients.

[00:48:41] How is it and why is it that they are helping to coach agents on how to do this? Mm-hmm. But then broker leaders are saying, well, no, no, don't do this. I keep coming back to the same question and and concept, which is why would you give a seller less choices? We should be giving sellers more choices. We should not be trying to make everyone the [00:49:00] same.

[00:49:01] And that will ultimately help our industry. That will absolutely tell agents. 

[00:49:06] Darryl: Uh, it's what I'm, what I'd like to do, uh, is I'm gonna show really quick 'cause I want to get it in the can of recording and, and, and of, of, of these specific violations of antitrust. So that way. Everybody can see the, the real problem here.

[00:49:22] Ju uh, Sarah, Sarah, spotlight me again real quick. And then, um, 'cause I want us to get to questions as well. The clear cooperation policy, why it's the next industry lawsuit is it contradicts fair housing goals. Pro CCP supporters argue that not listing on the MLS could promote steering and discrimination, but the opposite is true.

[00:49:44] By forcing quiet, private, in-office showings without public promotion, it actually becomes easier for a broker to steer properties to preferred buyers. Since fewer, fewer eyes are on that listing, which is what you said a moment ago, Rory, [00:50:00] by by and are saying you can have an exclusive, but you can't promote it publicly, just keep it in house.

[00:50:06] That's actually. More chances of fair housing violations, because that's absolutely right. Right. Okay. Here's another one. Um, monopolization market allocation. By the way, gang, that's an actual antitrust legal term now does ization and market allocation by forcing participation CCP effectively prevents other listing platforms and models from competing, which would be interpreted as an illegal, et cetera.

[00:50:32] Acting like a cartel mafia style mandates that all listings must be shared with competing agents, even when it goes against the homeowner's preference. Uh, here's another one. Um, restricts sellers choice, which we were talking about Restricting trade. CCP removes the freedom of homeowners to decide how, where, and with whom their home is marketed.

[00:50:53] Violating restraint of restraint of trade could be viewed as agreement among competitors, MLS [00:51:00] participants to force business practices that benefits the organization over the consumer. Let me just clarify that for everybody. By nar saying we, we all have to put it on MLS, where we have re max Compass x exp, we're all competing brokers.

[00:51:16] Any law lawyer will say, you guys put the CCP in place to help competing companies to monopolize the commission. Gang. Wake the heck up. Okay, here's another one. Um, boycott by, by penalizing agents or brokers who don't comply effectively. Black law, back black balling them from the main marketplace is suppressing competition.

[00:51:43] So by saying that, if you don't adhere to us, we're gonna find you. That's the other thing. If one agent makes a mistake in an office, they'll turn off the MLS for the whole entire office for, because of that fine you 

[00:51:55] Rory: and, and ban you. Right? And ban you. Ban is saying you are [00:52:00] banned for not doing what we say, which is give us all your inventory, give us all your information, give us all your data.

[00:52:07] Oh, we're not gonna pay you for it, right? Yeah. There's another one. Give us all the data, all the information, give us all your listings, and if you don't like it. Then you will be banned and Nas saying you will be fined or banned or kicked off. It's just that that's not in the spirit of competition, which is what propels this entire country, which is competition.

[00:52:29] Exactly. 

[00:52:29] Darryl: And, and I'm gonna, there's one rule that actually is, it would be the, would be the death nail to nar on the CCP and antitrust vi. I, I'm almost gonna get, I'm almost there. Um, now watch this. So, you know, Rory, that NAR just. Passed this, this other stupid policy that it's, I think all MLSs are rejecting, which is okay to help you see, NAR knows that they're violating antitrust.

[00:52:59] So what they [00:53:00] decided in their meeting, we're not gonna get rid of the CCP because, you know, um, but what we're gonna do is give the homeowner choice that they can, uh, put it in the MLS, but not put it on, on an i I think it's the IDX feed. Still the vow. Right? Okay. So watch this. This is the inconsistent. So NAR allows homeowners to opt outta the IDX exposure, but not the MLS creating a contradiction.

[00:53:22] If they're saying that you have to have exposure, then why did they even come up with this, this rule saying that you can, uh, like they're, they're talking how both sides of, of the, of the argument which makes, which will be used against them. Here is the real death nail. Here it is. By forcing participations, it prevents listing platforms in my, oh, I'm sorry that we had this earlier.

[00:53:46] I'm sorry. It makes it difficult of, of, for alternative business models and market strategists to survive. So watch this. I I did some research, Rory. So they're saying that when you're an agent and, and, and NAR, that you [00:54:00] must put it on MLS within 24 hours of you publicly marketing it, because supposedly that's better for the consumer and everybody else.

[00:54:07] Right? Okay, so well, what if an agent says, fine, I'll adhere to that. I am going to list that house on the my state mls.com. So everybody that doesn't know about this company, this is a nationwide MLS system that's not owned by NR. So that means I should, as a realtor to adhere to the ccp, I'm gonna list it on my state.

[00:54:36] mls.com. Yeah. No, because the fact that NAR doesn't own this company, it's still a violation to the ccp. NAR folks pay attention. We're going to get sued and we're going to lose because we're gonna have to wind up settling. And just to remind everybody, the CCP has only been around for five years. What the hell did we do [00:55:00] since 19 85, 86?

[00:55:02] I think we were fine without it. Um, now there's one other thing, Rory, that you, you, that, that, uh, Mr. Kin did, which was brilliant. He, I saw him say it, his keynote saying that. This is one of the rules that NR has that if you, that any association can find any member up to $15,000 for one violation. And so then I looked at the MLS list of violations.

[00:55:30] I looked at the ones that were $1,500 or more, and then I did another little research. I decided to look at other associations. You know, the American Bar Association, the American Dental Association, the American Nursing Association. Guess what? Not one of these other associations. Fine in the thousands of dollars.

[00:55:51] You know what they do if you break their code of ethics or something like that? They throw you outta the association or you get suspended. There's no fines. But [00:56:00] why are they finding, why are they finding? Well, watch it. I'll go, Jeff, because they're using the money like this. Over here, there's $45 million.

[00:56:08] This is the boardroom at NAR. This is really nice. This is a beautiful office. I'm gonna quote Warren Buffet. Buffet the nicest 

[00:56:16] Rory: office that exists in our entire industry. 

[00:56:18] Darryl: I, I mean it, listen, it's impressive. But let, let's quote, let's quote Warren Buffett. This is from his shareholder that in 1980, many of the business misadventures I've witnessed were proceeded by the construction of an corporate headquarters.

[00:56:34] Tall marble headquarters often signals short-lived profits. There's too much money that's happening. I, I, I wanna show you on, I'm gonna skip over, I'm gonna show you one other thing here. I'm gonna skip over here. This is, uh, by the way, I'm, I'm never speaking at the NAR convention and that's fine. This is our leadership and, and, and I put here, well, who's gonna do the right thing for our association?[00:57:00]

[00:57:00] This is how much they get paid to volunteer. Christine, 180 grand a year, Craig, the treasurer, 200 plus Kevin, 2 65, Kevin 400, so over four year total. If you go from vice president to president, that's how much money you're getting paid as a volunteer at nar. There's something wrong. Yeah. That needs to change.

[00:57:25] Rory: You, you touched on so many, so many good things there. I, I think a couple things that just kind of highlight, you know, one, you're absolutely right, this is about control and it's about money. If a company was started tomorrow, X, y, Z company, and they created a website that effectively tried to operate like one national MLS.

[00:57:45] That had great technology, uh, great mobile app, great tools, right? We all know most of the MLSs provide very poor technology. Most of 'em don't even have mobile apps. The interfaces are still 30 years old. I mean, ask yourself [00:58:00] every day. We use Instagram and Uber and Spotify and LinkedIn. Is the experience on our MLS technology anywhere near that?

[00:58:09] No. Not even close. So what about if a company came along and said, you know what? We're gonna do the same thing as an MLS, but we're gonna give you really great technology and better tools. They wouldn't be able to do it because they would be banned. They would be shut down. Mm-hmm. Be able to get any listings.

[00:58:24] So that prevents competition. When competition is prevented, progress can't happen. Mm-hmm. So subpar products and experiences continue. Mm-hmm. And that is why we don't have better tools at our disposal. So you're absolutely right. It's also about money. Right now, NAR and MLSs get every listing for free from every agent, and then they take those listings and they sell the data to all sorts of companies, home appraisal companies, mortgage companies.

[00:58:53] Why do you think when you buy or sell your home, you all of a sudden get all this marketing, all, all this mail and all this, right? The [00:59:00] data is sold. Right. So the agent never sees any of that money. That's the agent's listing. The agent's, the one who went out, won the listing. The agent paid for the photos.

[00:59:08] The agent worked on the actual listing. They never get paid. I say this all the time, it's just like the NCAA back in the day where college athletes made the schools all sorts of money. They sold all their jerseys and they never got paid. It's the same exact thing and, and Zillow's doing it as well. So it's about control and it's about money.

[00:59:28] Mm-hmm. Now, again, when I say that I am not suggesting that the answer to that is then to withhold every listing from the MLS. 

[00:59:35] Darryl: Mm-hmm. 

[00:59:36] Rory: And in the same way you started this by saying you believe in a strong MLS, you believe in what NAR should stand for as a trade group. Mm-hmm. I very much agree. What I would like to see are strong MLSs that give consumers and agents choice, flexibility, and control and function solely to allow a place to share data.

[00:59:58] And to do transactions, [01:00:00] and that is it. Mm-hmm. And are not there to monetize, are not there to do this, just to control. That's exactly what Compass wants. We're not looking for anything else other than that. We're not looking for a new system, a new change. We just want these organizations to give homeowners and agents the choices that they deserve.

[01:00:20] That's it. Exactly. And I'll tell, and I tell you, anyone disagrees with that? I, I I, I, I don't understand how you can disagree with that. 

[01:00:29] Darryl: I, you know, and, and just, so just for people that are coming late to the party, I, I mean, I know I've been pretty loud and, and, and passionate, uh, uh, uh, my, my anger stems from one thing and only one thing.

[01:00:41] See Rory, uh, uh, what you may not know about me as a real estate coach, the only people I, I focus on in my coaching is the agent. Mm-hmm. Um, I like brokers, I think managers, but I don't train them. And I, and I don't play politics. I, I don't care who I piss off. I don't care about [01:01:00] nar, I don't care about, I believe in nar, I believe in realtor, but my coaching is always for agents to make more money and design a life worth smiling about.

[01:01:08] And my one thing that pisses me off is NAR does not have the right to tell my agents how to do a listing appointment and how to run their business. Period. End of story. And that's the problem here. So whether people agree or disagree with Compass and their approach, I don't give a, that's not what this is about.

[01:01:31] This is not about, if you guys are the, that you are, they're making you a distraction. They're making you a distraction. I don't see anybody talking about Ha, Howard, Hannah, I said that earlier. So that's the problem here. That's the problem. And by the way, I just, just to point this out, and then we're gonna go to questions.

[01:01:47] Is this, when I showed this over here, I, I wanna be clear with everybody about this. This to me is wrong. And I, you'll see I got at the top of the thing saying, who's gonna do the right thing for our [01:02:00] association? One of these people, Kevin, Kevin, Craig, Christine, they have the power to make a change, to stop taking this kind of money.

[01:02:08] This is, this is gross. This is not the way to run an association. So there's a lot of waste up top and, and I hope one of these folks is gonna do the right thing for our industry. Okay. 

[01:02:21] Rory: Yeah. I, there's, you talk about the distract, you've talked about distraction a lot. I I think that's a really, um, helpful framing.

[01:02:29] There's a, there's a quote. Uh, I'm not gonna get it. Perfect. It's, it's sun Sue. And it's the secret lies in confusing the Yes. It's the secret lies in confusing the enemy so that he cannot fathom our real intent. Mm. Right. The secret lies in confusing the enemy. So he cannot I like that. That's good. Real intent.

[01:02:50] Sun Sue Sue. Right. The art of war. That's all this is. This is, as you said, a distraction to, to sow confusion so that [01:03:00] we are not as an industry focused on the real thing. Um, I don't know why people are doing that. I, I have theories and opinions, but I'll, I'll reserve those. But I think at the end of the day, you hit the nail on the head.

[01:03:14] Nar MLSs, Zillow have no right to tell an agent and their client how they can work together and how they can sell what is the most valuable asset of most people's lives. And you know, Rory, 

[01:03:27] Darryl: one of the, one of the people I told you that I respect, they said to me, well, Darryl, how, how often would a homeowner say, I don't wanna go on MLS, I just want you to show the house and promote it and sell it.

[01:03:40] How many of those home, how many we talking about? And I said, probably very few fi, I don't know, five, 10%, maybe not even that. A few. And they said, well, then why are you arguing it? It because it's an antitrust violation that this association is an association that not a legal body telling [01:04:00] agents based on license law.

[01:04:01] This is what you, how you're supposed to run your business, stay out of it. 

[01:04:05] Rory: Well, actually I'll, I'll, I'll flip that. The very few, let's call that the 6% of the, you know, the 94% listings that go on the MLS. Mm-hmm. This is actually fighting for the 94%. This is not fighting for the 6%, the 6% of listings that stay off market, that those are compass listings.

[01:04:21] And I believe there's a public stat available where anywhere said, and I, I, again, don't quote me on this, but I'm pretty sure there's a public stat that they put out that said they do, about 6% of their transactions are done off market. So very few transactions are actually done off market. This is about the 94%.

[01:04:38] Darryl: Mm-hmm. 

[01:04:39] Rory: If, if there's one thing that I would, uh, hope that people could get from this conversation, right. Um, it's that the Compass three phase marketing strategy. The strategy that Compass is encouraging homeowners to evaluate and make the choice on how they wanna sell their home is a marketing strategy.[01:05:00]

[01:05:00] It is not a sell your home off market strategy. Mm. Three phases. The third phase is going onto the MLS and going to the broad market. If this were a strategy of sell your home off market, it'd be called the one phase strategy, and we would call it the compass off market strategy. Mm-hmm. That's not what this is.

[01:05:20] All this is, is Compass agents going to sellers and saying, we have many different options and choices. Mm-hmm. We can have it off market for a few weeks, for a few days. We can test price, we can get positioning. Right. Getting price right is so important. I. I saw a stat from M Red, the MLS in Chicago, and it was looking at different brokerages and it was their price to sale comparison.

[01:05:44] Compass was at a hundred 0.4%. So what that means is that when our agents price a home, they get a hundred 0.4% to their price, so they get a little more than what they priced it for, which is great. Mm-hmm. Properties, which Compass also owns was at a hundred [01:06:00] 0.4%, about two. Every other company was under a hundred percent.

[01:06:03] What does that mean? Those agents aren't pricing the homes as well, because on average they're getting less for the home. Mm-hmm. Strategy is about pricing. The strategy is about marketing. The strategy is about building interest and anticipation so that when the listing goes to the MLS and goes to the broad market, you're set up for success.

[01:06:22] That's what it's about. And these organizations should not be telling agents and clients they can't do that. We're actually working on more steps. There are three phases. I think we're gonna come up with a couple more. There should be 5, 6, 7. There should be as many as agents and their clients want, 

[01:06:39] Darryl: and once again, once again.

[01:06:42] When I, when I've heard you guys say this and then I've heard, I've heard the other side say, yeah, well that's not true. That's just what they're saying. And, but, and once again, I say to that, who cares? A compass has the right to run their business the way they fri wanna run it. And there shouldn't be a rule that tries to tell 'em how to [01:07:00] run their business because that's gonna be another class action, major government lawsuit for God's sakes.

[01:07:05] We should, do you have time Rory? Do you have time for these? We got like 19 questions. A absolutely. Let's, let's, let's jump through 'em. Alright. So how we do this so that way you and I don't have to read and be distracted. Julie's gonna read it for us and then we'll just answer it so that way we can be present.

[01:07:20] So Jules, can you do that? 

[01:07:22] Julie: I most certainly can. Hello gentlemen. Great job. Uh, Deborah says, could Compass show their own listings during the coming soon period? I think you covered that. Came in early. Yes. But, 

[01:07:34] Darryl: okay. So then we're good on that one. Go to the next. 

[01:07:37] Julie: Um, Maya, how long were those? Coming soon. Homes on Compass website.

[01:07:43] Rory: Yeah, the, it varied. Some homeowners put a coming soon up for a day, some did it for three months. And it's the same thing with private exclusives. Some people do the three phase strategy. I've seen people do a day as a private exclusive. A day is a coming soon. And I've [01:08:00] seen people do longer. It is totally up to them.

[01:08:02] So it completely varies. 

[01:08:04] Julie: Thank you. Uh, Jolie says, how does this affect FSBOs? 

[01:08:10] Rory: I think Darrell hit the nail on the head a little passionately. Maybe you, by the way, one of the best points I've heard in a long time. You're right. Open listings are fizbos. It's, yeah, it's like, yeah. 

[01:08:22] Darryl: I mean, you know, wait, I just gotta say something that got me where, where I really, this is what happened.

[01:08:28] I gotta tell you this story really quick, Rory. So I, I don't want, I'm gonna speak poorly of this person, so I won't mention their name, but it was an attorney for one of the big associations, uh, out. West and they read my Inman article and they called me to tell me why I was wrong. And about the CCP thing.

[01:08:49] And part of what he said was, well, you can do an open listing, which would be fine. And so I didn't connect open listing to FSBO when he said that in the conversation. [01:09:00] So, so here's how I answered it though. I said, so in other words, counselor, what you're saying to me is that I would go, you're encouraging agents to go tell a homeowner.

[01:09:09] I'm going to advertise your house. Promote your house with no commitment from the homeowner, and then before it sells, the homeowner says, you know what? I'm gonna list with somebody else and pay them the fee. You'd be okay. Let me ask you, counsel, let's say I hired you to represent me in court and I'm gonna pay you a contingency.

[01:09:28] You know, you guys call it a contingency, it's a commission, but you dress it up by calling it contingency. So let's say I'm gonna pay you 40% con uh, commission. And after you've done all the trial work and everything else, just before we're gonna win the case, I decide to give it to another law firm and they get the 40%.

[01:09:47] Would you take that case on? That's what you just said to me. Yeah. And then you know what he said to me? He said, well, and that's an example in the legal profession, we do have a way to protect me from getting paid. [01:10:00] Oh, so for you it's okay. You're still gonna get paid. Right? So why are you arguing that agents should bust their but and spend money and not get paid at the end?

[01:10:09] What the hell's wrong with you? All right, go to the next question. Julie. Harold, you would've been a heck of a litigator in another life. Oh my God, right? My power agents, they tell me I sh my mother wanted me to be an attorney or a doctor. So what I did was I have, I have doctor handwriting. It's horrible.

[01:10:25] Oh, so that's as close as I got to that. Um, alright, Julie, next question. 

[01:10:31] Julie: Well, what I do love is that you both have brought metaphors and analogies into this conversation today, so I think you guys are a little simpatico in that. Is it the New York thing? I don't know. We'll see. 

[01:10:41] Darryl: Uh, 

[01:10:42] Julie: Maya says, how can I explain to a seller that not publicly putting their house visible to everyone for a short period of time is good for their listing and is a marketing strategy?

[01:10:53] Rory: Great question. What you're doing in that period of time is actually preparing for [01:11:00] when it is public, right? When you only get one chance at launching the home, you only get one chance once it hits the MLS and that days on market clock starts and everyone sees it, right? We've all been there we're listings after a while.

[01:11:13] What do you say to a client? Ooh, there's something that listing's stale, it's been on the market for a while. It's not priced well. You get one shot, right? I keep coming back to the Hollywood premiere, right? You get one chance to premiere the movie. In Hollywood, they don't make a movie. Spend two years and a hundred million dollars and you just throw it out there and hope people like it, right?

[01:11:35] They test it, they edit it, they do screenings. And so what you're telling your seller is, look, my job as your agent is to help sell your home as fast as possible for the most amount of money with the least amount of hassle. That's the job of a listing agent. It's that, that, that's all I'm doing. In order to help do that, we need to make sure we're positioned the right way.

[01:11:55] We need to make sure we have the most interest and anticipation around the property. We may, we need to make sure [01:12:00] we're priced well, and we need to make sure our marketing strategy is solid. And so in order to do that, what I recommend is a multi-phase strategy to do that. That allows us to test price, get broker feedback, make sure we're marketing property, make sure we're positioned well.

[01:12:15] Oh, by the way, when I leave your home today, you're not ready. Most likely for me to put this on the market today. Most agents and clients need a couple days, get the listing agreement signed, get the home cleaned up, get it photographed, but guess what? We don't have to lose a week or two while that happens.

[01:12:34] You wanna move fast, I can actually help you move faster. We're gonna put it on as a private exclusive for that week so I can start the process now so that when we do go on the open market and everyone sees it, we have more people at the open house, more interest, and I just saved you a week or two versus me saying, Hey, sorry, we're not gonna hit the market.

[01:12:51] Darryl: Well, you know, here's, here's another example where it's costing agents business and money. The CCP, just with what you said. You, let's say you have a homeowner [01:13:00] who's ready, you're sat at the table, you're ready to, you're, you did your whole conversation and, and, and they wanna hire you, but they wanna do some improvements first on the house and blah, blah, blah.

[01:13:11] And so with the CCP, we get kind of held back of getting that listing right now, um, because we're worried about that 24 hours. If that CCP didn't exist, I can simply say to a homeowner, that's not a problem. Let's do this. Sign the listing. Let me start prepping the house when now that you hired me, I can start spending my time and energy.

[01:13:32] I can help you. I can call some people to give you advice on what to improve, not to improve, save you some money. I'll call some of my buyers that I think can overlook the fact that the front door's not painted yet, so we can start testing. I mean, it's all for the frigging benefit of the homeowner that the agents should be able to get hired that night so they can start doing the prep work to take care of their frigging client.

[01:13:53] Rory: Exactly. 

[01:13:54] Darryl: Exactly. So my gosh. All right. Next question, Julie. 

[01:13:59] Julie: [01:14:00] Uh, let's see. Oops, 

[01:14:01] Darryl: sorry. Oh, by the way, uh, on that, on that movie Premier, uh, just, uh, just, uh, food for Thought for everybody, for anybody that's a treche in that, in the Star Trek series of movies, there was a movie where William Sha, captain Kirk dies and it, and it sets up for the next generation of movies.

[01:14:19] And they did a premiere, they did a, uh, a movie premiere and they got the critique cards back and everybody hated the ending because, uh, captain Kirk died so miserably, like not honorably, they actually had to go back to location and reshoot the entire death scene from that testing the market. So there you 

[01:14:43] Julie: go.

[01:14:43] Darryl: Yeah. And how much did that cost? Exactly Right. All right, good. Jules, next question. 

[01:14:48] Julie: We're a little nerdy around here, Rory, just so you know. No, 

[01:14:50] Rory: I, I love it. I'm, I'm more of a Star Wars guy. You know. There's That's 

[01:14:53] Darryl: all right. Nobody's perfect. Yeah. Um, 

[01:14:57] Julie: want us, us The only occasion [01:15:00] I can think of that CCP is good is in the case of bank owned properties, foreclosures, listing agents would be able, would put up a sign, but no listing was on MLS and they would not even give to other agents as a price.

[01:15:14] Darryl: Okay. That's just the comment. Okay. 

[01:15:15] Julie: Alright. And, 

[01:15:16] Rory: and maybe in unique circumstances for that situation. Great. Yeah. Okay. 

[01:15:21] Julie: Uh, Jan, why does Compass give the seller money to list with them? 

[01:15:25] Rory: That's, that's not, we don't give sellers money to list with us, so I think that 

[01:15:29] Darryl: might they, uh, you know what, they're confusing that with, uh, Jan, you're confusing.

[01:15:33] There's a company out there, it's called something Agents. What is it called? Um, 

[01:15:37] Rory: oh, I, I, I actually, I think I know what Jan is referring to. So we do have a program called Compass Concierge. Okay. What Compass Concierge is. Is we front load the cost of home improvement services for sellers. So let's say agent goes into the listing, homeowner has a home.

[01:15:53] The agent says, look, in order to best sell this, we need to paint the kitchen. We need to declutter [01:16:00] deep, clean, and maybe even do a little landscaping. It's gonna cost $25,000. I know for you as the homeowner cutting a check for 25 grand to do, that might be a little tough. Why don't we do this? Compass will front the 25,000 at a minimal cost.

[01:16:15] It'll cost you a couple hundred dollars, right? 

[01:16:17] Darryl: Mm-hmm. 

[01:16:17] Rory: And then you sign a listing agreement with me, and when the home sells, you pay me back the $25,000 I lent you outta the sale proceeds so nice. We front load that cost. We've done that for tens of thousands of homes. Wow. That's a program that we've run since 2018.

[01:16:33] It's been incredibly successful. Incredible tool to win listings. But it's not, we don't give it to them and they get to keep it. We have to get paid back. It's a loan. It's a loan's. It's a loan. It's an incredibly low interest loan to show the homeowner that we're invested alongside their success. Okay, good.

[01:16:51] Next question. 

[01:16:51] Julie: I think that that definitely shows the value of getting all of the information as opposed to mm-hmm. A part of the information. Um, Paul says, did Compass [01:17:00] create or assist in the creation of area the American Real Estate Association financially provide an incentive influence, or as quietly partnered with them in a conditional agreement with them in any way?

[01:17:11] Rory: We have not financially, uh, supported, uh, area. We are not a participant in area. One of our agents, Jason Haber, is a co-founder or a co, you know, sort of, um, leader of it alongside Mauricio Osky and others. We are, we believe in what they're doing very much so, and I, and I fully support them. And I think what they're doing is exactly right and that they're trying to.

[01:17:37] Advocate for the same things that we're talking about here today, but we're not financially part of that or have any financial arrangement, um, or partnership with them. They're completely independent to, to Compass or any brokerage. 

[01:17:50] Darryl: And, and just to also be clear, once again, I saw somebody else saying, we should sue nar.

[01:17:55] We should all take our money away from NAR and drop out a nar. I [01:18:00] am not, I, that's a horrible idea. We should, I, I believe every licensed agent in the United States should become a, a realtor and of course, a power agent, which is my coaching students. Ha ha ha. Um, but seriously, I believe every agent should be a realtor.

[01:18:15] And NAR has so many benefits and value. Uh, it, it's absolutely. So throwing the baby out with the bath water is a bad idea. What has to happen is all of the agents that give a damn about our association. And if you're, you're on the same page with me with what you need to get involved, you need to get on committees, you need to become a president, you need to make changes.

[01:18:38] We are nar r we are nar r and we need to take it back. Next question. 

[01:18:44] Julie: Thank you, Deborah. Why would a seller limit themselves to sell just within a broker's office versus putting on the MLSA hundred realtors versus thousands? I believe this is in the interest of listing of the listing company, but sellers should have a choice due to [01:19:00] circumstances, but need to be explained properly.

[01:19:02] Rory: Deborah, the ending of, of, uh, what you said, Deborah is exactly correct. Right? Sellers should have the choice. And again, as I said earlier, this strategy is not advocating to take a home and only sell it within an office, right? This is a strategy to tier it out and then have it eventually hit the market, but you're absolutely right.

[01:19:19] I agree. Yeah. And you see a lot of 

[01:19:22] Julie: questions. I'm sorry, coming into the chat. If you want us to take your question, please put them in the q and a. We aren't, we aren't scanning the chat. Sorry. 

[01:19:30] Darryl: Um, so, so just to, just to, just to, uh, finish up on that, um, the, the, the reasons why a homeowner would choose to have less activity.

[01:19:42] Um, 'cause you're everybody like that was, she was right. If you don't put it on MLS, you're gonna get less activity. There's no doubt about it. You have fewer agents that know about it. There's gonna be fewer activity. And if you have fewer activity, you're gonna probably get less offers. And if you have less offers, it could [01:20:00] be a li lower price.

[01:20:01] Abso could be, right? Not necessarily in a hot seller's market, it could still sell way above asking price. Mm-hmm. But that's not the point here. The point is that NA should not be telling you how to have a interfere with your fiduciary re regulation with your client. Now, the client may decide, uh, Hollywood Star.

[01:20:21] They don't want people to know. It could be they don't want their neighbors to know. It could be, they just want, they just don't want a whole bunch of real estate salespeople coming in day in and day out in their house. Yeah. There's some agents that like Rory, you know it like there's some cl when I was listening and so there were some clients that they trusted me so much they did not want to deal with anybody else.

[01:20:44] Darryl, you are here, period. Nobody else. 

[01:20:48] Rory: I was on a listing, I was on a listing presentation last weekend for a really special home actually in Long Island and same exact thing. Um, 

[01:20:55] Darryl: there you go. All right. Got next question, Julie. 

[01:20:58] Julie: Paula says, once we [01:21:00] advertise, we get calls from buyers. That implies automatic dual agency.

[01:21:04] So if a seller doesn't want dual agency, we only advertise to buyer's agents. Or when buyers call and we're too small to assign an in-house agent, to rep them, we tell to get a buyer's agent to negotiate against us. 

[01:21:19] Darryl: Against us. Yeah. So Paul, uh, let me just address that really quick worry. So first of all, gang, dual agency is not a dirty word, so let's just stop treating it like it is, okay?

[01:21:32] Um, now I know in some of your states you don't practice it in Florida, somebody said it's against the law. No, it's not against the law. In Florida, they just call it a designated agent. You can do it, but I do know in Florida, for example, you, it's so, you are all brainwashed to to, to, to not do it, to discourage.

[01:21:49] But it's not a, that you can't what. Transactional agent. Yeah, transactional agent. So, but anyway, um, so that's something for your broker to do. You know, [01:22:00] they, if, if yes, if, if your state says that you can't do both sides, then yes, you're gonna have another agent in the office who's representing one party and you're representing the other.

[01:22:11] That's a very simple thing and that's not a problem. So that's an office thing. Alright, next question, Julie. And by the way, just Jules, make sure that there we are getting questions and not comments in here, okay? 

[01:22:21] Julie: Mm-hmm. 

[01:22:22] Darryl: Alright, go on. 

[01:22:23] Julie: Um, John, what is the Compass three phase marketing plan? 

[01:22:27] Darryl: Well, we've already done that.

[01:22:28] No, no, no. We've done that so many times. So let's, that's the person came late. Next question. 

[01:22:34] Julie: All right. Um, how does Compass work? I guess we've covered that as well. 

[01:22:39] Darryl: Um, can you, can you do an office exclusive for 30 days? Sharon wants to know. 

[01:22:45] Rory: Yeah, yeah. You de as, as long as we can. I mean, I don't believe there's any state, right?

[01:22:50] There's, there's a couple markets. You're not allowed to do an O Office exclusive. Seattle being one of them. Right? Okay. California, so everyone should know this. This is really important. [01:23:00] California Associa Association, realtors and C-R-M-L-S are both actively trying to prevent agents from being able to do office exclusives going forward.

[01:23:11] So just think about that for a moment. The largest state in our country with probably the most agents, I would assume, is saying we are trying to stop you and your clients from doing office exclusives and PRI and private exclusives. Think to yourselves, rhetorically this question, how many agents and sellers have raised their hand and said, we would like that.

[01:23:33] The answer is zero. 

[01:23:37] Darryl: Yep. Wow. Wow. Alright, Jules's, next question. 

[01:23:40] Julie: Yep. Uh, Eugenia this question's for Rory. Some compass agents here in Florida do not answer calls or inquiries. As effectively they should. How can we reach out? That's, that's any, any agent, 

[01:23:53] Rory: right? If, if they don't, I want email me Rory at Compass.

[01:23:56] 'cause uh, if there's a call, uh, we gotta make sure they're, they're on it. You send me an [01:24:00] email r at Compass, I'll make sure they get back to you. 

[01:24:03] Julie: Love it. I just thought, okay. Uh, Melissa, how, how many Zillow employees are on the NAR board? 

[01:24:12] Rory: I'll handle that one. 

[01:24:13] Darryl: Yeah. So, so. Yeah, so gang. Um, one of the trainings I did, uh, if you are a Power Agent, is Zillow is not our friend.

[01:24:24] And in that webinar I actually show the names of the people who have been, who are Zillow employees who have been named to NAR board positions of influence to me. That's just screwed up, man. That is totally screwed up. And, um, so yeah, there are some, and, and, uh, there you go. Next question. 

[01:24:49] Julie: Let's see. Joyce says, brokerages are independently owned and operated.

[01:24:51] I'm with Keller Williams, all of our offices, uh, we have been told that our head broker of the group of six offices in my area have [01:25:00] told us we cannot allow the other offices in this group to see exclusive listings due to the NAR rule. How do you explain this to us? 

[01:25:06] Rory: No, I'm, I'm happy to bring this up.

[01:25:07] This is the challenge with CCP, and this is the problem with the Zillow ban is they do not. Want you sharing your office exclusives with other agents. They want to shut it all down. And so your question exactly implies like, how does this make any sense? Um, and that's, that's part of what we're aggressively pushing back on.

[01:25:28] Mm-hmm. 

[01:25:29] Darryl: Which by the way, just a little food, just to let everybody know, that when Zillow published their new listing guidelines, it said that if you, if you got a listing and you didn't put it on in 24 hours on MLS or Zillow, then they would ban you. In other words, if you got the listing and you didn't put it in your MLS, but you listed it on Zillow, that was fine.

[01:25:58] Rory: That was okay. [01:26:00] Exactly. That was okay. 

[01:26:02] Darryl: It. I'm telling you, gang, it ain't about what's better for the consumer. It's about the money. It's about the money. Whether it's NAS money or the ML S'S money or Zillow's money, it's about money, which is, I get it. It's good to have listen, fight for your dollar, increase your bottom line.

[01:26:20] That's all good, but you don't break laws to do that which NAR is doing by telling you how to run your business and interfere with your fiduciary. You all have to understand something. We are not salespeople like car salespeople, furniture salespeople. We are licensed real estate professionals that have fiduciary.

[01:26:39] That's a legal term. When a client hires you, you have to work for your client and NA is interfering with that legal relationship and that's where the next shoe's gonna drop. Mm-hmm. Next question. 

[01:26:55] Julie: Okay. Maggie says, what if I see a Compass listing on [01:27:00] Compass? We see. Uh, what if I see a Compass listing on the Compass site during the coming soon?

[01:27:05] Can I bring my non-comp brokerage offer 

[01:27:07] Darryl: a a Absolutely, yes. Maggie. So, so is, so here's what Compass is saying, and correct me if I'm wrong, uh, or we're, you're not hiding the listings from everybody. You're just choosing in your three phase, or the seller is choosing the three to not initially put it on mls, but you're willing to code broke.

[01:27:28] So if another agent sees the coming soon and they say, I gotta bio fad, I don't wanna wait for MLS, can I show it today? You would say Yes, 

[01:27:35] Rory: absolutely. And look, one thing that's thing that's really important to note. So in Chicago Ed is the MLS In Chicago, ed has its own private. Listing network. So what happens is every brokerage in Chicago puts their private exclusives and their off market listings into the MLS, and they share them with all the brokerages.

[01:27:54] If that system existed in every market, compass would love that. We would be so supportive of that. So [01:28:00] again, I'm trying to be very clear that we want to share our off market inventory with everyone. The rules and the bans are stopping us from doing that. So, okay, go ahead Jules. What 

[01:28:14] Julie: he said, um, Marie Jose says, but the seller says, I don't need to test the market.

[01:28:18] I'm hiring you because you're the passion and you're supposed to know the right price. What do you say to that? 

[01:28:23] Rory: Fantastic. We can put it right on the market. Not everyone has to do this. It's a choice. Maybe you do, maybe you don't. 

[01:28:30] Julie: I love it. Sharon, can you post pics just saying, coming soon without violating, uh, CCP.

[01:28:37] Rory: Yeah, that's that. Well, so actually that's a good question on ccp 'cause it's, you know, it depends. Everyone's kind of interpreting it a little differently by MLS Now, Zillow has said you cannot put it on the internet if it's not in Zillow, so you can't post. That means posting a pic means it's on the internet even coming soon.

[01:28:54] Even coming soon. Okay, 

[01:28:56] Julie: thank you. Uh, Allie, all MLSs, uh, [01:29:00] have different rules, but funda the fundamental difference is some allow coming soon for 30 days and some do not permit. How does that affect CCP? 

[01:29:08] Rory: Well, and that's sort of what Darrell mentioned is that nar sort of passed the buck. They said, you know what, we don't want to get involved.

[01:29:15] And I, I think Darrell's right, because I think they know that they're doing something they shouldn't be doing. So we're just gonna say follow your local MLS. Some MLSs have said. We don't think this is a good idea, so we are gonna have different rules. And so if they're saying that, doesn't it tell us that there's a problem here?

[01:29:34] So that's why some MLSs have chosen to do their own thing and, and 80% of the MLSs are owned by no r, but 20% are not. So 20% are doing whatever they want. 

[01:29:43] Darryl: Right. Okay. 

[01:29:46] Rory: Go 

[01:29:46] Darryl: on Josh 

[01:29:46] Julie: Sauce. Uh, let's see. Evie says, are you advocating for whisper listing kind of practice? When you say Hollywood actor, don't you wanna be on the MLS?

[01:29:56] Rory: Yeah. As, as I've said many times, no, this is not a whisper listing off [01:30:00] market strategy. 

[01:30:01] Darryl: I love all these, these, these terms. The, the pro CCP people come up with, like the open listing? No, it's a fsbo. Uh, you know, they're coming up with all this different words to scare pocket listings to scare people. Yeah.

[01:30:16] Julie: Yeah. Dirty words, right? 

[01:30:18] Darryl: Dirty words, yeah. 

[01:30:19] Julie: Uh, Nancy as a buyer's agent, if we are focusing on listings in the MLS and other listings such as Zillow, and don't pull an exclusive listing from Compass, can we as agents be considered steering by not viewing your website and suggesting your listings? 

[01:30:33] Rory: No, because it's your choice on where you search and where your client search is to find listings, right?

[01:30:40] So there's no rule that says you have to look at every website. There's no rule that says you have to look at every home. It's completely up to you. You decide what you wanna look at and what you don't. Okay, next one. 

[01:30:53] Julie: I love it. Thank you. Uh, Melissa, how did the big tech companies get away with selling our customers back to the realtors using [01:31:00] our, our data?

[01:31:01] Rory: Great question. I would love an answer for that question. That's a lot of what we're trying to figure out as well. 

[01:31:08] Darryl: Well, you know, part of it is, is that when you know the way the, all the agreements are set up. You basically are sign signing away any rights to your listings when you put it into the MLS or it being an R member and et cetera.

[01:31:21] Like, so they can, they can do whatever they want with your listings. They, they own the images, the copyright, the creativity to it, et cetera, et cetera. What really burns me too on this is Rory, is that, you know, uh, we, the listing agent cannot upload a photo, uh uh, that says, Hey, I'm the listing agent, here's my contact information.

[01:31:43] Right? Yeah. So a lot of the MLSs don't allow that, but when you flip through, right, the listing photos, what's the last photo? Always It's some ad from a home inspector title company that, that pay in Zillow, whoever they're paying. So, so the listing agent [01:32:00] can't advertise themselves on their listing, but we can make money on that agent's listing by selling an ad space to somebody else.

[01:32:08] That's wrong too. It exactly is Daryl. 

[01:32:10] Rory: Unfortunately, I have to jump. Oh, sorry. Getting everything from my team. I have so enjoyed this. Thank you so much for having me on. I, I really, really appreciate it and, you know, thank you for advocating for, you're not advocating for Compass. You're just advocating for choice for agents and to protect the industry from putting itself in a position that could be very compromising.

[01:32:35] So I really appreciate you having me on. Thank you so much. 

[01:32:37] Darryl: Well, Rory, listen, thank you to you, thanks to Compass for you're taking, you're taking the black eyes to standing up to something that is, is gonna be an a problem in our industry. So I thank you for that. I thank Robert for, for his leadership on that as well.

[01:32:51] And listen, more importantly, thank you for being so, so generous with your time, staying an extra half hour to answer some of the questions. I [01:33:00] apologize to everybody, we couldn't get to your questions. We are gonna, we have a, a roster of everybody that attended today. We'll make sure that we get this video to everybody.

[01:33:08] And I'm gonna actually include my slides as well because I want everybody to see the talking points and, uh, we need to get this message out. Compass is not the enemy. The CCP rule is the antitrust violation. Everybody, keep your eye on the important thing. Do not be distracted by what other people want you to be looking at.

[01:33:29] It's not compass, it's nar and the policy. Rory. God bless you brother. You as well. Thank you so much. Thank you, sir. Bye-bye.

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