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Jason Oppenheim clarifies his position on a clear cooperation policy

Umito October 31, 2024

Jason Oppenheim wants to set the record straight on the clear cooperation policy.

When the chairman of the West Hollywood-based Oppenheim Group sharply rebuked a social media post from Compass CEO Robert Reffkin earlier this month about his high-profile stance that the CCP should be abolished, it sparked a wave of reactions for and against. the 2020 National Association of Realtors Rule.

CCP requires agents to place properties on the Multiple Listing Service within one business day of being publicly marketed. Sellers have the option to circumvent this requirement by signing an exemption.

Oppenheim’s point of view, he said, was ultimately lost in the din of debate.

“I do not discuss whether the clear cooperation should remain, be revised or removed,” he said. “My argument is that the public deserves an honest conversation about this very important conversation, without corporate self-interest.”

The real deal spoke with Oppenheim again to explore his views on the CCP. The following has been edited and condensed for clarity.

Can you tell us about what your activity looked like before Clear Cooperation?

I remember those days very well. At that time, countless unrealistic sellers were working with inexperienced agents, where nine out of ten pocket listings were nothing more than an overpriced property presented by an inexperienced agent who simply wanted to have any type of property. announced that he could.

This doesn’t do the industry any good and it certainly doesn’t benefit buyers and sellers.

I think the only people who benefit from this type of industry are the big brokerages who convince the sellers that they have better access than the smaller brokerages, which is arguably true in this scenario, but this does not mean that it is to the advantage of buyers and sellers. .

What impact would the removal of the CCP have on the brokerage industry landscape?

Removing the CCP would create a significant disadvantage for new agents and smaller brokerages. And that’s exactly what we don’t need.

We want new blood. We want new businesses, and we don’t want them to be stifled by larger brokerages that use pocket listings as a sword to crush new market entrants.

What can residential agents learn by examining how the commercial market works?

If you juxtapose the residential real estate market under the PCC with commercial real estate, it is almost impossible to try to obtain information on a commercial property or identify commercial listing supply or prices. sale of commercial properties because they are hoarded and protected by groups of people. agents of industry who use it as capital.

What do you say to those who argue that you should just discuss your own business in the context of the CCP?

I don’t know what’s best for my business. I really don’t know. I appreciated not having to deal with all the bullshit pocket listings that are 90% unrealistic sellers with ridiculously overvalued properties.

I also have a particularly large audience in terms of database, social media following, and traffic to our website. So I could easily argue that we would benefit from removing the CCP.

It’s a selfish endeavor and I freely admit that. This is why I have no problem with other CEOs making compelling arguments against the CCP. I simply ask them to recognize their own interests and make that clear to the public.

What is the result?

I like fair competition and I like the idea of a seller meeting with different listing agents from different brokerages and those agents having to explain their value and what they are able to do better than their competition. This is the type of competition I think sellers deserve.

Brokerages should compete for agents, not by offering lower shares or shiny bonuses, but by showing agents that they offer better value, better services and technology, and better branding than their competitors . I like fair play.

Some might say that we are in a free market and whoever has the best tools should win. So, do you consider yourself an idealist?

I think it should be whoever has the best tools – that they win, but that they compete on a level playing field.

Let’s put it all out there. I don’t call that idealism.

Idealism is the expectation that everyone will listen and admit their own honest self-interest. But if we can move the needle in that direction a little bit, then we’ll have done a good thing.