Real Estate Agents Have a Reputation Problem

Consumers need to trust their real estate agents — but as more agents work the market than ever before, stories of bad behavior ranging from unfair dealmaking to sexual harrasment abound. In this episode of Deconstruct, Compass agent and American Real Estate Association (ARA) founder Jason Haber joins Lilah Burke and Hannah Kramer of The Real Deal to break down what’s broken in residential brokerage and how to fix it.

We get into:

Why there are 5 million agents chasing fewer than 3 million deals a year

How low licensing standards and part-time agents hurt consumers and the industry’s reputation

Jason’s early pushback against Kenny Purcell and the National Association of Realtors (NAR) over sexual harassment and abuse

Why self-regulation has failed, and what smarter state licensing and renewal rules should look like

The debate over private listings, NAR’s Clear Cooperation vs ARA’s Clear Collaboration policy

How industry consolidation (including at Compass) affects small brokerages and consumer trust

What political and policy changes could actually make housing more affordable in New York and beyond

In the second half of the episode, we turn to two huge real estate stories:

The rise and unraveling of Joseph Makhani’s $83M deed theft empire in New York

The political and PR mess created by the pied-à-terre tax rollout