Welcome back to the PPW Podcast! In this episode, host Harvey Hancock is joined by Simon Baker and our first repeat guest, Brian Boero from 1000 Watt. Together, they dive deep into the current state of the U.S. real estate market, exploring the challenges and changes within the Multiple Listing Service (MLS) system. Key topics discussed include: + An overview of the sluggish U.S. real estate market and the impact of interest rates. + The unique structure of the MLS and its significance in real estate transactions. + The implications of recent legal settlements on commission structures and agent behaviour. + The rise of Homes.com and its competition with Zillow and Realtor.com. + The evolving role of AI in real estate, from marketing to transaction processes. + Future of the real estate industry and the potential for a more streamlined market. Don't forget to like, subscribe, and hit the notification bell for more episodes! Timestamps: 00:00 - Introduction 00:23 - Overview of the U.S. real estate market 01:46 - Understanding the MLS 04:38 - Factors driving change in the market 06:20 - The role of Homes.com 08:42 - Realtor.com’s position in the market 10:26 - The impact of ad spending 12:58 - Future predictions for Zillow and Realtor.com 17:01 - Legal settlements and commission structures 19:04 - The role of AI in real estate 25:46 - Conclusion and future outlook Follow us on linkedin: https://www.linkedin.com/company/property-portal-watch Check out - www.onlinemarketplaces.com Listen to the full episode on your favourite podcast platform!