Gary Acosta's Podcast

I was speaking to a friend of mine who works at one of the largest Wall Street Firms. We were discussing the Realtor class action lawsuits. He recently purchased a second home in an exclusive area in Nantucket, and he told me about how hard his agent had to work to close the deal and how much he admired her. He said that buyer's agents work so much more than seller's agents, and he added...

The disruption in the real estate market has me thinking about unintended consequences. I don’t think the lawyers and plaintiffs in the class action lawsuits that have triggered changes in how real estate is bought and sold in America care a lot about the impact on the market. They stand to make a lot of money, which is probably what they care about most. I don’t think much about them, but the pro...

I once read that sports are a universal language. Regardless of ethnicity or what language you speak, almost everyone speaks sports. No place has that been more evident than the Olympics, where every four years, we are moved by images of athletic rivals from around the world shaking hands and embracing each other in moving displays of sportsmanship.  I have always been a sports fan, and my dad is...

Most of us have heard that it's not about what happens to you or around you; it's how you react. That discipline may be the single most important quality a person can possess when it comes to success. Talent is overrated, and luck is out of our control. Grit, on the other hand, is a superpower.  Despite what some might think, nobody is born tough; a strong mindstance is learned. A 2-minu...

This week's big news in real estate was the settlement of the class action lawsuits directed against the National Association of Realtors (NAR) and several of the largest brokerages and brands in the industry. NAHREP released a statement yesterday in response to the news. At the center of the settlement was an agreement to eliminate any reference to broker cooperation on MLS systems nationwid...

A surge in inflation coupled with the tightest labor market in decades is prompting start-ups to look nearshore to satisfy their workforce needs. For years, large companies have been outsourcing to India and China, but the politics with China is unpredictable at best, and India has its limitations as well. Not to mention, they are both really far away – making it especially difficult for small bus...

Last week, I had the opportunity to keynote a policy event in D.C., hosted by the National Association of Realtors (NAR). My comments focused on what I described as the existential threat facing first-time home buyers in America. This week, in a brief to the judge of a major antitrust lawsuit known as Nosalek , the U.S. Department of Justice called for decoupling buyer and seller agent representat...

I was in D.C. on Friday for the celebration of life for my friend, Dave Stevens.  Dave was a former FHA Commissioner under Barack Obama and an icon in the mortgage banking industry.  I was lucky to know Dave as a good friend.  Over the years, we would often speak about complicated housing issues, and if we disagreed, which was rare, he would always say, “But I get why you have to take that positio...

In the 1987 movie, Wall Street , Michael Douglas’ character, Gordon Gekko says, “It’s a zero-sum game; somebody wins and somebody loses. Money itself isn’t lost or made, it’s simply transferred…”.   If you’re not familiar with the Sitzer class action lawsuit against the National Association of Realtors and several of the largest real estate brands, it centers on how real estate agents are compensa...

Let’s face it, we never believed the DEI movement was going to help Latinos.  I have written many times about how the powers that be privately hated the ethos of diversity, equity, and inclusion – especially the equity part. It was never going to work. Perhaps some of the fault lies on us, with too much focus on the negatives (prejudice and discrimination) and not enough focus on the positives (pr...

If you have been following the news on the recent resignation of the President of Harvard over her unfortunate congressional testimony on antisemitism on college campuses, you might have read Bill Ackman’s post on X (formally known as Twitter) which essentially blamed everything on Diversity, Equity and Inclusion (DEI) policies on college campuses. Ackman’s post was reposted by none other than Elo...

As the Thanksgiving holiday approaches, we are reminded of the importance of expressing our gratitude for the blessings we have in our lives. It’s a positive message that most of us embrace, but the concept of gratitude can be deeper and more powerful than most people realize. I have seen lots of videos and memes that discuss how everyone should affirm their gratitude daily. Tony Robbins and Gary...

I believe deeply in taking the high road; it is rarely good to lose your cool, especially in business. It’s part of what we call emotional intelligence. We all know people who can’t walk away from a fight. They take everything personally and can’t deal with conflict without getting emotional. Most of us try and avoid people like that. Then there are those who always hold it together, even when eve...

I am a big believer in being authentic and original. The large majority of leaders have no original thoughts or ideas. They follow other people’s templates; they simply regurgitate other people's talking points. We are often taught “Don’t reinvent the wheel. Find someone who is where you want to be and do what they do”. I don’t think this is bad advice, but if everyone did that, there would b...

We all have our own idea of what makes a successful career. For some, it is owning a profitable business, for others it might be the stability and prestige of a high-paying profession. However, for most people, success is some combination of earning a high income while preserving the freedom to enjoy it. Unlike some people, I enjoy the process. I like the early stages of a new venture, even more t...

Over the next 24 months, the real estate and mortgage industries will be challenged like no time in recent history. Companies that have healthy capital reserves and their fixed expenses under control will expand their footprints, and increase market share. Agents with strong brand awareness and low overhead will also do well. Brokers with corporate accounts and multiple channels of business like R...

We are a little more than a week from the incomparable NAHREP at L’ATTITUDE (NAL) event in Miami. This year, the crowd will be bigger and the speakers will be even more impressive! Let’s start by reviewing the current list of speaker/headliners.  Charlie Scharf, CEO and President, Wells Fargo & Company  Brian Moynihan, Chair and CEO, Bank of America  Julie Sweet, Chair & CEO, Accenture  Ba...

I think most Latinos would agree that at our core, we are a generous people. If a member of our family is in need, Latinos, as a rule, won’t hesitate to help financially or otherwise. Family is central to Hispanic culture, and when it comes to family, our generosity has few limits. Maybe that explains why when it comes to making political donations and writing checks to support actual philanthropi...

Leaders Run Toward Problems Not Away from Them   Early in my career, I learned that a major part of my job is to solve problems. We can all agree that problems aren’t fun. They often require tough decisions and stressful conversations. Because of this, most people run away from problems rather than confronting them. This is a recipe for chaos and dysfunction. We have all heard the phrase fight or...

In July, L’ATTITUDE hosted its first event during the NBA Summer League, honoring Latino leaders in the NBA. The day opened with a NAHREP Northwest Regional event where representatives from our chapters in the Northwest Region discussed the market and shared best practices. Later that afternoon, L’ATTITUDE honored Gersson Rosas , James Borrego , Earl Watson , and Alvaro Martin for their role in br...

In the movie Wall Street , Bud Fox’s goal was to work with a big fish like Gordon Gekko. Fox gets his wish, but it almost destroys him. Still, almost everyone wants to work with partners and customers who are wealthier and more successful than themselves. They think they will become more successful by osmosis. It is not always true but it’s not necessarily wrong either.  When I started NAHREP, I s...

Thirteen AGs Send Letter on DEI to CEOs  On the heels of the U.S. Supreme Court’s decision to outlaw affirmative action policies in college admissions, Attorneys General from thirteen states including Alabama, Arkansas, Indiana, Iowa, Kansas, Kentucky, Mississippi, Missouri, Montana, Nebraska, South Carolina, Tennessee, and West Virginia sent a letter to the 100 largest corporations in America, ad...

I had a great time in Las Vegas this week at NAHREP’s Northwest Regional Event, where among other things, we honored Latino Trailblazers in the NBA. It was terrific! Later that evening we had dinner with friends and the subject of my recent blog about affirmative action was discussed. Fortunately, NAHREP has built a culture in which people can disagree about sensitive issues without losing their m...

On Friday, the Supreme Court of the United States ruled that colleges could no longer consider race as a factor in admissions policies. The following is my statement on the ruling. Today’s action by the US Supreme Court to eliminate affirmative action for college admissions is a setback for those that support efforts to address past discriminatory practices and ethnic wealth and prosperity gaps. W...

Peter Thiel is an investor, author, and co-founder of Paypal. In his bestselling book, Zero to One, he famously proclaims that “competition is for losers”. I love that line. When Thiel gives interviews, he says that unhappy companies are all the same because even if they are successful for a period of time, they eventually become demoralized by the daily stress of intense competition. Conversely,...