 What's up, everybody? Ricky Carruth here. Welcome back to my channel. Today I want to dive into some breaking news. I just read an article about the largest MLS in the country making some big changes. So I want to get into all of that with you guys. If you, I'm going to give it about, you know, a minute or so for people to log on to the live here. While I'm doing that, if you want to text me, I'm going to give away some free books, a signed copy of my book. I'm going to do it right here live as well. All right. You can text me right here at this number. I'm going to give it about a minute or so. I'm watching the text messages come in right now and I'm going to give away a couple of books right now as we speak. If you guys want to go ahead and text me before I get into the content here and also I'm going to do a question of the day. So if you guys want to type your questions in at the end of this, I'm going to answer a question of the day. So text me at the number and I'm going to give away some books right here live. So I don't see any texts coming in yet. What up, Ben? What's up guys? All right. All right. All right. Got it. I see them coming in. Andrew, you just want a free book. Texting you back. All right. Jimmy. Jimmy, you just want a free book. All right. You guys text me for a free book right this second. I'm going to give away one more in about 20 seconds and then I want to get into this article I just read. Get you guys thoughts. I also want to take a question of the day. So if you guys have a question, type it in and I'm going to take a question at the end. Hope you guys had a good week, man. I went to Dallas, crushed it there, picked up a couple listings this week, closed a couple deals and working on a couple things. So I'm super excited. I've also got two massive announcements coming next Wednesday, 4 p.m. Central. So you guys be tuned in for that super exciting stuff. All right. Let's see what we got here. Let's see what we got here. Alex. Alex, you just want a free book, a signed copy of my book. I'm going to mail you guys a signed copy. There we go. There we go. All right. I will mail you guys signed copies of my book. Congrats to you guys. If you guys have a question, I'm going to take a question at the end, a question of the day. All right. I want to share with you guys this article I just read. Let me find it. Let me find it. Let's see where is it. There we go. Boom. There we go. Let me get it up here. Boom. Okay. So the largest MLS in the nation signs off on a slew of big changes to listings. So California Regional MLS. Man, this is an MLS for over 100,000 agents. Okay. This is the largest MLS in the country. All right. So they just made a bunch of changes. And I thought this was very interesting to share with you guys today. Okay. And the biggest change has to do with how the IDX feed shows listings and the agents that they actually show. So this is very interesting here. Okay. They instituted changes on how listing agents and brokers appear on online listing pages. So basically on your websites. So this MLS actually services LA, San Diego, Fresno, Orange County. This is the largest MLS, 100,000 agents. Okay. And the way that they are going to start, and this is already started supposedly. All right. They've already started this whereas like on your websites and stuff, they want it to be a five second rule. Right. They want it to be that when a customer is looking at your website at a listing, they have to be able to identify who the listing agent is and have their contact information within five seconds of looking at the page. All right. This is incredible. This is total transparency, you know, because and if you read in here, the reason is because consumers, some consumers are looking for strictly the listing agent. All right. So I found this very interesting. Basically IDX feeds pull listings from all subscribers into MLS and allow subscribers to display those listings on their websites. Okay. And so what they want to do is let me read through here and find exactly basically like an IDX website. When you look at a listing, it shows basically your information at the very bottom. It says listed by this company. Okay. So they're going to change that where it says listed by this agent. Here's their number. Right. The listing credit is what they call it. Who they're giving credit for the listing of all listing brokers grant permission for any advertising broker advertising broker is who the website belongs to and the listing agent is the listing agent. So an advertising broker can advertise listings that they don't have listed through IDX on their website. Okay. But now it's going to actually have the listing agents information there. So I'm going to be real interested to see like how excited you guys are about having other agents information on your website. If that is in fact what we're talking about here in the way I read it, that is what it's saying. Advertising broker to display any listing submitted to the service by the listing broker only if the listing display or advertisement is clear so that it's reasonable. Real estate consumer understands who the listing agent and broker is who is the advertising broker and how to contact that listing agent or broker. So they they the reason that the CR MLS acted on this was based on subscriber feedback. Agents and brokers presented their ideas to our rules committee composed of active real estate professionals from each association board and MLS that participates in CR MLS. The rules committee distilled and refined their feedback before presenting it. Okay. The goal of the rule is to address consumer frustrations. And many consumers have become frustrated at the lack of transparency on listing detail pages. They call the phone number or click on the contact agent button that they see in the advertising for specific listing expecting to speak with the listing agent or broker instead they're directed to the advertising broker. This new rule will enhance transparency for consumers with all the information clearly displayed. The consumer can contact the most appropriate individual to discuss their needs. So if they want to contact the listing agent boom they're going to contact the listing agent. If they want to contact the the advertising agent right and in my opinion I would as a buyer I would want to I would want an agent to represent me who's not the listing agent but you guys know as well as I do. There's a lot of clients out there who want to talk directly to the listing agent. You know some of these customers in in my experience are just wanting to try to deal with one agent so that they can knock the commission down. That's been my experience with a lot of those type of agent a lot of those type of buyers. I'm not all of them of course but but in my opinion I strongly suggest that buyers have their own representation that's not representing the seller. You know that's that's what I feel like is best for the buyers but not all buyers agree with that. They say that the highlighted possible benefits of this revised rule for buyers agent. The advertising broker may find that the time consumer spin on their way this is funny. The advertising broker may find that the time consumer spin on their website may increase since a consumer who wants to speak with the listing agent will no longer have to leave that advertising broker's website to attain that information to attain the listing agent's information. So they're saying hey advertising brokers you know consumers are going to stay on your website longer because they're not going to have to leave your website to go find the listing agent's information somewhere else. Well if they're looking for the listing agent I don't know if I want to be in my website anyway you know if they're not trying to call me so all that extra time on the website I don't know really know what that how that's supposed to be benefit. They're trying to make it sound attractive right. It does apply to Zillow. The rule may also increase the level of lead quality of the consumers. Now I think this one's true that the rule may also increase the level of lead quality of the consumers that contact the advertising broker since those consumers specifically decided they wanted to speak with the advertising agent not the listing agent. So I think that holds some merit. I want to know what you guys think about this and if you think that this is going to be more of a nationwide or other MLS is going to fall online with this I think they probably will because you know a lot of what's happening right now in the market does does come from a place of transparency you know back when the DOJ when all that stuff was going on with NAR talking about you know displaying what the buyer's commission is publicly so that the buyers know what the commission rate is you know that comes from a place of trying to be transparent with the public and the consumers I think this I think this has a lot a lot to do with transparency itself it's all transparency. So the policy itself does not spell out exactly how to make a listing attribution clear to a reasonable real estate consumer okay but what they're saying is this shouldn't take longer than five seconds to looking at that listing to figure out who the listing agent is and who the advertising agent is. So I thought that was very interesting to read through here there were some other changes that they made they said that calendar days there's no more like business days you know they're gonna say that every calendar day is a day when it comes to you know the different deadlines that you have for to submit things into MLS also they're going to they're gonna start finding people if they're not abiding to the coming soon if they're not filling out the coming soon forms correctly they've went with a year now without finding anyone just giving everybody warnings now everyone knows about the coming soon process and they're gonna start finding people for finding agents for not following those procedures correctly it was interesting because Zillow seems to and they actually became part of the they actually became participants with CRM L S earlier this year and they immediately started to conform to these new this new policy here this was a before shot of a listing on Zillow or this was an after shot here right it shows the listing agent here listed by agent phone number agency phone number okay so it has all that information there however it looks like on Redfin I don't necessarily see that they have actually added the they've got the listed by in the agents name but I don't see a phone number here so I thought that was interesting to see that Redfin hasn't you know you know in line with Zillow and the policy added you know all the contact information of that listing agent Redfin did not respond to a comment to Inman on this and so I thought all this stuff was very interesting wanted to share it with you all right let's see if you guys have a question of the day put your questions in right this second I'm gonna take one question before I get out of here and I hope you guys are having a good Friday and a good you had a good week and you're gonna have a good weekend hope you're making your calls and building your databases and doing everything you can do to take your business to the next level I'm gonna be doing more lives like this with breaking news type scenarios trying to keep you guys up to date on different things happening out there in the industry so that we can all kind of stay on top of it and talk about it and collaborate with it let's see here all this is a good one here this is why we need to focus on listings if buyers are not are going to be easily able to contact the listing agent there's gonna be an increase in dual agent transactions hey that's a good point right that's a good point a good way to to get around this is to be the listing agent that people are trying to get to I like that here's somebody who has a comment Tanya here this could be bad for the agent who has their own site but I do understand not everyone searching for properties are not I do understand not everyone searching for properties are not represented I mean you know listen good bad or the ugly right you guys should always be going after listings and also on the buyer side people that you talk to about buying and they're looking to buy something you should be making that connection you should be creating a scenario where they're not looking for they're not looking to go anywhere else but to deal with you they want you to represent them no matter what right and when you connect with them on that certain kind of level and make them feel some kind of way they're not gonna go searching elsewhere they're gonna want you to represent them right so that's another way to really lock it in right is to build those relationships what I teach you guys every day alright so congrats on the people who won the free book I'll mail those out thank you guys for tuning in and I'll be back with another one soon we'll talk to you guys later have a great weekend everybody