O
n the Real Estate Insiders Unfiltered podcast, regulatory expert Jessica Hickok shares her insights on non-Realtor agents, days on market, and "the illusion of fresh demand." As CEO of ARELLO, Hickok emphasizes that agents must "know your law" to navigate the industry's challenges. With NAR's new rules in effect, she notes that her organization has received more calls from agents confused about the difference between association policies and state laws.

    Hickok's long career in real estate has given her a unique perspective on the industry's issues. She reveals that regulators are hearing concerns about Realtors vs. licensees, with many complaints coming from Realtors about other Realtors not following NAR policies. Hickok stresses that understanding the difference between member requirements and laws is crucial for agents.

    Regulators are also dealing with private listing networks and broker supervision issues. Hickok notes that ARELLO isn't involved in MLS or NAR policy enforcement, as state regulators can only enforce what's in the law. The regulatory perspective on days on market and private listing networks is centered around accuracy and consumer protection.

    Hickok highlights the importance of accurate days on market reporting, not just for buyers and sellers but also for housing programs and government funding. She notes that inaccurate reporting can create an illusion of fresh demand, which can impact funding decisions for areas with weaker real estate markets.