Ep. 39 | China’s Housing Bubble &NAR’S Biggest Lawsuit | Steve Hawks

Reside Platform Podcast with Suneet, Preston & Nick

Learn more about how Reside can get you to #1 in your marketplace: https://resideplatform.com/
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In this video, co-founders of Reside Platform Nick McLean and Suneet Agarwal, sit down with Steve Hawks.
Steve Hawks, a seasoned real estate expert, has been featured on major networks like ABC, FOX News, CNN, and CNBC, and in publications such as Business Week and Wall Street Journal. As a former top producer for a Fortune 500 company, Steve's clientele includes Disney, Paramount Pictures, Microsoft, IBM, Comdex, and the Show West convention. With a track record of selling over 5000 homes, he consistently ranks in the top 1% of agents nationwide across four decades.. Beyond sales success, Steve is a sought-after commentator on real estate trends for platforms like Wall Street Journal, Fox News, CNBC, ABC World News, and Business Week. His influence extends to consulting with companies, offering strategic insights for navigating overlooked economic trends in marketing planning.
In this episode, Steve unpacks the recent NAR lawsuit, exposing its far-reaching effects on the Real Estate industry. From NAR's initial denials to the surge in copycat suits nationwide, Steve highlights the escalating damages and the implications for professionals.
Discover why addendums alone won't solve the issue for insiders. Steve details the lawsuits' repercussions and how they're becoming a goldmine of information for the DOJ. His advice: settle swiftly to avoid DOJ involvement, where no information is off-limits in discovery.
Joined by Nick and Suneet, the trio explores the intricate connections between NAR, its massive lobbying in D.C., and potential implications with the DOJ. They touch on the controversial "Dues" structure and its profound impact on the Real Estate industry.
For new agents navigating the NAR Lawsuit uncertainty, Steve emphasizes prospecting's importance. Gain insights into adapting to market changes, including buying new homes and turning old properties into profitable rentals.
In a surprising twist, the discussion extends to Steve's observations on the Chinese housing market. Uncover the phenomenon of ghost cities, underground bank investments, and how international property purchases complicate the dynamic U.S. housing market.
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VIDEO CONTENTS:
00:00 Introduction
02:10 Steve’s Take on the NAR Lawsuit
09:30 The Implications of the DOJ’s Involvement
13:59 NAR Lobbying in D.C. & Membership Dues
24:47 Steve’s Advice for the Scared Agent
34:50 Why Steve Thinks You Should Know About the Chinese Market?
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Show Notes:
Follow Steve on Instagram at: hawks_steve