What's a Broker, Anyway?

What's a Broker, Anyway?

Author: Rob Hahn and Greg Robertson August 20, 2026 Duration: 1:10:26

The Industry Relations Podcast is now available on your favorite podcast player!

Overview

Rob and Greg open by unpacking the news that a federal judge has finally approved the Sitzer/Burnett settlement, tossing out remaining objections — officially closing that chapter for NAR and the industry. They debate whether this outcome was a "win" for NAR, discuss the power vacuum left in organized real estate's wake, and praise NAR's recent social media/PR efforts (specifically an Instagram explainer video). The bulk of the episode digs into Unlock MLS's new tiered participant framework (base service, direct service brokerage, platform brokerage) — sparked by an op-ed from Emily Gerrard — and what it means to legally and philosophically define "what is a broker" in a post-compensation, post-NAR-settlement world. Rob and Greg spar over whether MLSs should double down on being cooperatives of brokerages or pivot to being data-licensing utilities, using Zillow, Homes.com, and hypotheticals (including an adult-content site and a NJ lead-gen "broker") as test cases.

Key Takeaways

  • The Sitzer/Burnett settlement has been fully approved after the 8th Circuit rejected remaining objections
  • NAR reportedly told lawyers to negotiate the maximum settlement amount it could actually afford, effectively avoiding insolvency
  • Rob argues NAR is no longer the center of gravity in real estate, leaving a "power vacuum" in the industry
  • Both hosts praised a recent NAR Instagram explainer (legal/stats update) as a strong new-media format worth other associations copying
  • Rob floats the idea of NAR/MLS leadership doing authentic, unscripted weekly podcasts or livestreams to rebuild member trust
  • Unlock MLS introduced a new three-tier participant structure: base service, direct service brokerage, and platform brokerage
  • Emily Gerrard's op-ed on Real Estate News argues participant definitions should be reframed around data usage rather than identity
  • Rob strongly supports Unlock's move, calling it the biggest MLS innovation in decades; Greg is more skeptical of redefining "participant" and prefers a pure data-licensing approach
  • They debate whether Zillow, Homes.com, and similar platforms should be treated as "brokers" vs. licensed data users
  • Rob predicts Unlock will likely face a lawsuit over the new rules but believes they'd win
  • The 2008 DOJ/VOW settlement is revisited as historical context for why MLS participant rules can't discriminate by business model
  • Discussion touches on AI/data governance, referencing a framework around who controls AI's access to listing data
  • Episode closes with a running bet: Rob wagers Greg a steak dinner that fewer than 1% of brokers would define a broker as "a website that generates leads"

Links

Cooperation Article

NAR Social Media Post

Sitzer Settlement

 

Connect with Rob and Greg

Rob's Website 

Greg's Website 

 

Watch us on YouTube

 

Our Sponsors:

Cotality 

Notorious VIP

The Giant Steps Job Board 

 

Production and Editing Services by Sunbound Studios

 


Industry Relations is a weekly conversation hosted by Rob Hahn, also known as The Notorious ROB, and Greg Robertson. It operates at a unique crossroads, examining where the business of real estate collides with and is reshaped by new technology. This isn't a surface-level tech review; the discussion comes from an insider's perspective, built on years of direct experience within the field. Each episode delves into the practical implications of software platforms, shifting market data, and emerging business models that are actively changing how properties are bought, sold, and managed. The hosts analyze trends, debate strategies, and often challenge conventional wisdom, providing a nuanced look at the forces driving change. Listening to this podcast offers a deeper understanding of the operational and entrepreneurial challenges faced by professionals navigating this evolving landscape. You'll hear specific case studies, evaluations of new tools, and forward-looking predictions about what's next for the industry. The tone is direct and informed, reflecting the hosts' deep background, making it essential for anyone invested in the future of real estate as a business. Tune in for thoughtful, weekly analysis that goes beyond the headlines.
Author: Language: English Episodes: 50

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