Listing Bits Episode 88: Does NAR Have Value Beyond MLS Access? – with Michael Lissack of The Virtual Realty Group

The verdict against NAR in the Sitzer lawsuit has organized real estate up in arms. But Michael Lissack thinks the decision is the best thing to happen to the industry in 100 years. In fact, he sees the trade association as a criminal enterprise with little value beyond MLS access. Michael is Managing Broker for The Virtual Realty Group, a 100% commission brokerage that operates in 12 states.  On this episode of Listing Bits, Michael joins Greg to discuss the real issue behind the lawsuits against NAR and describe what he would do to make buyer's agent commission negotiable. Michael explains why it's necessary to decouple the MLS from NAR membership and how that would likely lead to bankruptcy for the trade association. Listen in for Michael's provocative take on why associations don't deserve a way forward in a world where MLS access is open to anyone with a real estate license.   What's Discussed:   The real issue behind the lawsuits against NAR and several real estate brokerages What Michael would do to make buyer's agent commission negotiable Why the DOJ takes issue with mandatory membership in NAR for MLS access How decoupling the MLS from NAR would impact everyday REALTORS What decoupling the MLS from NAR membership would do to the trade association (and what NAR might do to demonstrate its value and rebuild) What it would take to decouple local, state and NAR membership Why Michael believes a real estate license should be the only requirement for MLS access Running MLSs as not-for-profit organizations vs. for-profit entities Greg's thoughts on providing a way forward for associations by compensating them for the work of building the MLS Why bankruptcy might be apt for associations who don't provide value beyond MLS access   Connect with Michael Lissack: Michael.Travel Michael on LinkedIn   Resources: Sitzer v. NAR Michael's LinkedIn Post   Our Sponsors: Trackxi