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
• The collapse of Simad Holdings’ $200M summer camp empire, DOJ investigations, and what it means for bondholders and beloved camps

If you work in residential brokerage, follow housing policy, or just want to understand why trust in real estate is so low — and what real reform could look like — this episode is for you.

Listen to Deconstruct from The Real Deal every Monday for deep dives on real estate, politics, and power.