Send us a text I was out of town and missed this month's Real Estate Commission hearing but a lot of big things happened. The REC released a Guidance Letter on what is considered wholesaling according to the plain language of the statute and how that statute would be applied to advertising that is currently happening in the marketplace. Additionally, I have some updated information on the "Touring Agreement" that was issued and pulled back. Don't forget to like us and share us! Gary * Gary serve...
Nov 21, 2024•28 min•Season 4Ep. 201
Send us a text **** EPISODE 200!!!!!!**** Thank you! Thank you! FinCen is some really scary stuff. The federal government under the guise of "stopping money laundering" is requiring every business entity to provide information on all parties involved in the ownership, formation and control of the company. This act is arguably unconstitutional. But if you have a company or if any of your client's do then you must report the information before the end of the year. Blair Cato's, Marshall Minton ste...
Nov 14, 2024•23 min•Season 4Ep. 200
Send us a text We are seeing such a mess with broker compensation. Contracts and Form 120s are all over the board. Seller, buyer, agents, lenders and closing attorney can't decipher what the intent is on some of these. It is an unmitigated disaster. Today, we talk about how easy this should all be and how to handle broker commissions moving forward. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed here...
Nov 07, 2024•33 min•Season 4Ep. 199
Send us a text Kyle Toomey recognized that in order to catch someone's attention on social media you had to be quick and entertaining. Thus, he perfected the running real estate agent phenomenon. In doing so he garnered millions of views and thousands of likes and created a social media following that directly and indirectly exploded his business. Listen to his tips on creating that following and buzz. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Com...
Oct 31, 2024•26 min•Season 4Ep. 198
Send us a text Clear cooperation is the next area of your practice under attack by lawyers and the DOJ. Today I discuss what clear cooperation is, who supports it, who doesn't and the potential risk to ending the practice. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered l...
Oct 24, 2024•29 min•Season 4Ep. 197
Send us a text Last week, the South Carolina Real Estate Commission issued a guidance letter that addresses substantive contact, the South Carolina Disclosure of Brokerage Relationship and the NAR Settlement. Does these revised documents now fulfil the NAR Settlement requirement for a Touring Agreement. Listen to learn more! Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and a...
Oct 17, 2024•27 min•Season 4Ep. 196
Send us a text Last week, Blair Cato stopped two potential real estate frauds that could have cost the buyer hundreds of thousands of dollars. Erica Lybrand, our title attorney, joins me today to discuss these two frauds, what Blair Cato did right, what the real estate agent did right and what lessons can be learned. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not n...
Oct 10, 2024•34 min•Season 4Ep. 195
Send us a text There continues to be massive numbers of people without power in the Upstate and even here in the Midlands of South Carolina. Today I discuss what agents need to know on how lenders and insurance companies may treat closings moving forward this week. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commiss...
Sep 30, 2024•12 min•Season 4Ep. 194
Send us a text I have had many conversations with Realtors who espouse their anger over how things are being run at NAR. In fact 62% of Realtors in a national poll have stated so. Today I offer Ten "suggestions" for NAR that will help it suck less. In providing this list it is done with a belief that NAR is probably the only group standing between you and the morons in the government screwing you more. And it is also done with a belief in the value of SCR and the local associations. Let me know ...
Sep 26, 2024•27 min•Season 4Ep. 193
Send us a text One of the biggest complaints of real estate agents since the settlement is the requirement to get a touring or showing agreement signed prior to showing the buyer a house. Luckily for you the Real Estate Commission may have solved that issue for you. I examine that ruling as well as the status of three other issues that have been a rallying cause for licensees. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner....
Sep 19, 2024•26 min•Season 4Ep. 192
Send us a text We are only a few weeks into the new compensation rules and agents are already greatly screwing it up all over the place. Today, I will walk you through how compensation is supposed to work in the ERTS, the Form 120 and the contract. You need to listen carefully and take notes so you don't make the same terrible mistake that a lot of agents are making which just might get you sued! Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commissio...
Sep 12, 2024•26 min•Season 4Ep. 191
Send us a text As we enter the second full week of the implementation of the settlement, I began getting many calls for me to draft an Exclusive Right to Sell Agreement that is NOT broker to broker compensation. Brokerages have already started to recognize that the traditional system of broker to broker compensation is not only on the endangered list but is also a liability nightmare. Therefore, I have now drafted an open-source ERTS document for the industry. The CMLS has already put this docum...
Sep 05, 2024•29 min•Season 4Ep. 190
Send us a text I have been warning agents that the NAR Settlement was just the beginning of this. More lawsuits and government intervention would soon follow. Today I discuss a $3.29 million settlement/fine involving real estate agents and title insurance. I actually applaud this settlement as a positive step forward for the consumer. If you are doing these schemes you need to stop now or face massive fines and possible class action lawsuits! Don't forget to like us and share us! Gary * Gary ser...
Aug 30, 2024•15 min•Season 4Ep. 189
Send us a text Now that we are a week or so into the new rules on real estate compensation, we need to discuss how your commission might be shown on the settlement statements. Direct compensation, concessions and broker to broker commission most likely will be handled differently and you need to know what to look for on the ALTA. I also will discuss what documentation you might need to provide the closing attorney and the lender. Don't forget to like us and share us! Gary * Gary serves on the So...
Aug 29, 2024•30 min•Season 4Ep. 189
Send us a text The settlement went into full effect and force today. With that comes many new problems and requirements for the real estate agent. Today we attempt to resolve two of these problems for you. The first problem we resolve is the crazy idea that you should rescind your agreements and enter into new agreements. The second problem is the touring agreement requirement. Take a listen at what we are trying to do for the real estate agent. Link to FORM AGENCY AGREEMENT AMENDMENT AND DISCLO...
Aug 19, 2024•24 min•Season 4Ep. 188
Send us a text Two things are 100% expected. You will always have to pay taxes, and the national media is a joke. They lie and obfuscate. They work an agenda and allow half-truth and inuendo to take over. Moreover, there is zero intellectual curiosity in the media. That just spout talking points and never examine the issue to see if the points are truthful. Case in point, the LA Times has already issued a "news story" making all kind of ridiculous claims that are unsupported. Of course, chief am...
Aug 15, 2024•24 min•Season 4Ep. 187
Send us a text Everyone is on edge about broker compensation. How do we handle it through Form 120? Why can it not be done in the contract? What about all of the issues with concessions? On Monday I published my discussion on all of these issues with Leo Pareja, CEO of eXp Realty. Afterward he and I discussed my thoughts on how it should have been handled. He then asked if I had looked at his Seller Toolkit because it was exactly what I was suggesting. I have to say I was blown away. It may very...
Aug 08, 2024•20 min•Season 4Ep. 186
Send us a text A lot of rumors are swirling about how August 17 will play out for agents. One of the biggest rumors is that eXp Realty agents will no longer do broker to broker compensation. Leo Pareja, CEO of eXp Realty, joins me in this special edition of Dishin' Dirt to set the record straight and discuss how compensation will be handled August 17 and moving forward. All agents need to hear this! Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commis...
Aug 05, 2024•31 min•Season 4Ep. 185
Send us a text Can buyer broker agent compensation be included in a buyer's offer? Does including it in the contract violate the NAR settlement or South Carolina license law? Today we find out for good. Also, I examine the changes to the Exclusive Right to Buy and Exclusive Right to Sell that SCR has published. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessa...
Aug 01, 2024•29 min•Season 4Ep. 184
Send us a text Another week and even more confusion. Today we take a further look at the two avenues for a real estate agent to get paid compensation post August 17. We will try to answer when and how to use the compensation agreement versus contract concessions. Plus, is procuring cause dead? Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions ...
Jul 25, 2024•28 min•Season 4Ep. 183
Send us a text The new MLS and REALTOR rules from the commission settlement are set to begin on August 17. There is so much confusion still in the industry. I did this podcast and added to it twice after I recorded it. So yes, I am confused too. Today we look at the South Carolina REALTOR Association's revised contract and compensation form to see what we will be dealing with in just a few short weeks. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Com...
Jul 18, 2024•30 min•Season 4Ep. 182
Send us a text Finally, the MLSs strike back on the ridiculous settlement rules! Today we examine four different MLSs across the country that have decided to give the big middle finger to Michael Ketchmark and the settlement requirements. These MLSs are doing what is right and best for the consumer to ensure transparency and fairness to all buyers, sellers and agents. Also hear the brilliant constitutional arguments against the DOJ actions. If paying compensation is not a violation of anti-trust...
Jul 11, 2024•27 min•Season 4Ep. 181
Send us a text In May 2024 Governor McMaster signed the revised SC Code §40-57-10 into law. In that statute that governs the practice of real estate in South Carolina there are several provisions dealing with "wholesaling". Today we will examine the statutes to determine if wholesaling is illegal or not in South Carolina as well as why real estate agents should consider adding several investors as clients. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate...
Jun 27, 2024•30 min•Season 4Ep. 180
Send us a text Finally, South Carolina is at the forefront of something good. South Carolina is one of the first states to prohibit and void the 40-yearlong listing agreements that are recorded at the register of deeds office and binds even future owners to the agreement. With Gov. McMaster signature the agreements were deemed void and unenforceable. Listen for all of the details. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissio...
Jun 20, 2024•27 min•Season 4Ep. 179
Send us a text We need a break from all the crazy legal stuff happening in real estate for at least one week. This week I have an incredibly fun guest for you. Chelsea Peitz is an Inman News Top Marketing Influencer for 2023 and 2024 Marketing All-Star . She is one of the most sought-after speakers, coaches and podcast in the real estate space. And it looks like we are going to feature her next year at our Real Estate Summit. Today we pick Chelsea's brilliant mind to learn how we can become rele...
Jun 13, 2024•37 min•Season 4Ep. 178
Send us a text In Part 3 of the three-part series covering the changes to the real estate agent code, I explain the remaining additions and changes to the statute. These changes include carrying education credit forward, new team name requirements, broker experience requirements and a lot more. I also give you the background story behind the reason for the changes. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinion...
Jun 06, 2024•30 min•Season 4Ep. 177
Send us a text We begin part two of our examination of the newly revised SC Code §40-57-10. The real estate licensee code contains major changes in Section 135. We review all five of the major changes or updates that can be found in this one section alone. These might be the most important changes to the statute this time. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are...
May 30, 2024•29 min•Season 4Ep. 177
Send us a text On May 21, 2024 Gov. Henry McMaster signed into law the revised SC Code §40-57-10. This statute governs what you can and cannot do as a real estate agent. Today I begin a multi-series examination of the revised statute and discuss how it will affect you practicing as a real estate agent. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the ...
May 22, 2024•32 min•Season 4Ep. 176
Send us a text We are just a few weeks away from significant changes in how all real estate agents do business. Nick Kremydas from SCR is joining me today to discuss what happens now. How is agent compensation going to be handled moving forward? What can you and can you not do on the MLS? Where can you advertise compensation? We break it down so you don't have to. Don't forget to like us and share us! Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions...
May 16, 2024•40 min•Season 4Ep. 175
Send us a text Are you social media allergic? When it comes to using social media in our business, we all seem to have a touch of this allergy from time to time. But you can learn to unstick your social media in as little as one hour per week according to this week's guest, Karlyn Ankrom of OhSnap! Social. Learn how the Fan Firestarter Framework can put you on the path to easier and more effective social media posts. Don't forget to like us and share us! Gary * Gary serves on the South Carolina ...
May 09, 2024•27 min•Season 4Ep. 174
