Residential Realty Today

Anywhere focused on cost-cutting as revenue holds steady

Real Estate News

APRIL 25, 2024

Revenue and agent count dipped slightly, but the company highlighted the strength of its Sotheby’s brand and its progress toward a $100 million savings goal.

Branding

Branding Agents

NAR deal ‘could be detrimental’ to Black agents, buyers

Real Estate News

APRIL 25, 2024

In a conversation with Real Estate News, Dr. Courtney Johnson Rose of NAREB discussed the pros and cons of the recent settlement and upcoming rule changes.

Agents

Realty ONE, @properties reach settlements in commission cases

Real Estate News

APRIL 24, 2024

The brokerages are the first to settle following preliminary approval of the NAR agreement by a Missouri judge earlier this week.

Brokerage

Judge says yes to consolidation of Missouri cases

Real Estate News

APRIL 24, 2024

The court approved an April 19 request filed by the Gibson and Umpa plaintiffs to merge the lawsuits, which were both under the purview of Judge Stephen Bough.

Zillow CEO: ‘Keep your head down and deliver for your customers’

Real Estate News

APRIL 24, 2024

At the T3 Leadership Summit, Rich Barton discussed what’s in store for Zillow and the industry — and encouraged the audience to “resist the urge to chaos.

Industrial

CoStar revenue up 12%, but Homes.com advertising eats into profits

Real Estate News

APRIL 23, 2024

Homes.com subscription sales to agents are the biggest product launch in CoStar history, said CEO Andy Florance, as the company pursues portal dominance.

Agents

Agents Sales

‘Change will absolutely happen’ — so build something new

Real Estate News

APRIL 23, 2024

Real estate has gone through massive changes over the past 50 years, says industry icon Stefan Swanepoel, but it’s time to focus on the future.

Industrial

People on the Move: C.A.R. CEO resigns; eXp names new CMO

Real Estate News

APRIL 23, 2024

John Sebree is leaving the California Association of Realtors, while Wendy Forsythe will move into the role of CMO at eXp.

Home sellers make another bid for consolidation in Missouri

Real Estate News

APRIL 22, 2024

Plaintiffs in Umpa and Gibson have asked the court to merge the two lawsuits. The antitrust cases cover similar ground and name several of the same defendants.

Brokerages, MLSs not covered under NAR deal face 60-day deadline

Real Estate News

APRIL 22, 2024

Sitzer/Burnett plaintiffs filed preliminary approval docs on Friday, triggering a countdown to opt in to the agreement process outlined by NAR and the courts.

Brokerage

CoStar acquires Matterport — and all its data

Real Estate News

APRIL 22, 2024

The move gives the Homes.com parent company access to a massive amount of digital property information as it looks to strengthen its residential presence.

Residential

Brokerage Beat: News from Real, Corcoran, C21, BHGRE, Sotheby's

Real Estate News

APRIL 20, 2024

Real nabs top Chicago team; Rabbitt Group forms at Corcoran Reverie; Baltimore indie joins C21; Oklahoma firm signs on with BHGRE; Sotheby's opens in Poland.

Brokerage

People on the Move: Chicago Association of Realtors president resigns

Real Estate News

APRIL 19, 2024

Drussy Hernandez said the move was necessary due to “external professional obligations.” CAR president-elect Erika Villegas will take over the role on May 15.

Racial disparity in appraisals continues to improve

Real Estate News

APRIL 19, 2024

After encouraging reports from 2022, new data shows the appraisal gap continued to shrink throughout much of the U.S. in 2023.

Top portal rivals show mutual support for buyer agency

Real Estate News

APRIL 19, 2024

This week, Zillow CEO Rich Barton praised Realtor.com CEO Damian Eales’ latest push to educate homebuyers about changes coming to the industry.

Industrial

Agents must get on board with the ‘new way’ of doing business

Real Estate News

MARCH 30, 2024

In just a few months, new compensation and buyer agreement mandates will kick in. Agents who are ready to adopt them will succeed more quickly.

Agents

Brokerage Beat: News from Corcoran, Real, E&V, more

Real Estate News

MARCH 30, 2024

Corcoran launches in Oregon; Real expands in NorCal, Pennsylvania; E&V adds Long Island shop; The Agency opens in Edmonton; Christie's expands in Barbados & NJ.

Brokerage

Opendoor: We’re ‘built for’ post-settlement world

Real Estate News

MARCH 29, 2024

In a blog post, CEO Carrie Wheeler said the NAR deal and rule changes would be a boon for the company: “We’ve never been so optimistic about the future.

Down payments, cash offers rise in response to interest rates

Real Estate News

MARCH 29, 2024

Despite a less competitive market for buyers, cash remains king — not to win bidding wars, but to avoid inflated financing costs.

Finance

Finance Marketing

What every real estate professional needs to know about the MLS

Real Estate News

MARCH 29, 2024

In the first of a three-part series, RESO CEO Sam DeBord explains what an MLS is — and what it isn't — and how definitions of the MLS can vary.

MLS

T3 Sixty suspends release of real estate brokerage ranking

Real Estate News

MARCH 28, 2024

The company made the move after hearing from “numerous” privately owned companies involved in high-stakes lawsuits over commissions.

Brokerage

Pacaso adds third-party listings, DIY co-ownership option

Real Estate News

MARCH 28, 2024

The fractional ownership platform, co-founded by former Zillow CEO Spencer Rascoff, said its latest move “opens up thousands of new listings nationwide.

Industry seeking clarity — and change — in FHA and VA lending

Real Estate News

MARCH 28, 2024

NAR this week sent letters asking government lending agencies to allow buyers to finance agent compensation. Thursday, it started getting answers.

Lending

Lending Industrial Finance Agents

Arguments against consolidation dominate hearing

Real Estate News

MARCH 28, 2024

Judges heard from both defendants and plaintiffs on Thursday who spoke about the “burdensome” nature of consolidation and the local nature of the cases.

Mortgage rates creep down, but not enough to tempt buyers

Real Estate News

MARCH 28, 2024

Mortgage apps dropped this week even as rates fell, but pending sales began to show signs of life.

Mortgages

Mortgages Sales

Northwest MLS criticizes DOJ commissions stance

Real Estate News

MARCH 27, 2024

The 35,000 member multiple listing service calls the DOJ’s statement of interest an “ill-informed” interpretation of its compensation practices.

MLS

Winners, losers and a look at the post-commissions deal future

Real Estate News

MARCH 16, 2024

Buckle up: The proposed NAR settlement will unleash a fast-moving wave of change – and opportunity, especially for buyer agents who can articulate their value.

Agents

Brokerage Beat: News from C21, Christie's in Florida and Idaho

Real Estate News

MARCH 16, 2024

Century 21 gains North Carolina indie; PureWest Christie's moves into Idaho; John R. Wood Christie's adds nearly two dozen agents.

Brokerage

Brokerage Agents

eXp paid out more than $230M in rev share and stock last year

Real Estate News

MARCH 13, 2024

In a new compensation report, eXp said it paid agents and brokers nearly $198 million in revenue share and $34.7 million in EXPI shares.

Agents

Twice as many sellers are looking to relocate in 2024

Real Estate News

MARCH 13, 2024

A Coldwell Banker survey found a big increase in the number of sellers willing to move to another city or state as price considerations now outweigh location.

Realtor.com listings now display 5 climate risk factors

Real Estate News

MARCH 13, 2024

Buyers can see heat, wind and air quality ratings in addition to the existing flood and wildfire ratings, which can “help reduce surprise costs.

Redfin opens buyer agreement rebate program nationwide

Real Estate News

MARCH 12, 2024

The brokerage said the program, which launched as a pilot in September, is “good for our customers, our agents and our growth as a brokerage.

Brokerage

Brokerage Agents As-is

Hispanic homeownership trends reflect challenges, opportunities

Real Estate News

MARCH 12, 2024

A new NAHREP report shows that despite the tough market, Latinos found creative routes to homeownership in 2023, such as co-borrowing, but barriers remain.

Marketing

Will NAR ‘become a shadow of its current self’ in 2 years?

Real Estate News

MARCH 12, 2024

The association reported a fourth month of membership declines, with membership falling below 1.5 million for the first time in nearly three years.

Mortgage rate dip leads to jump in activity

Real Estate News

MARCH 7, 2024

Rates fell slightly this week, ending a four-week run of increases, and mortgage applications were up nearly 10%. Inventory and consumer sentiment are also up.

Mortgages

Real posts big gains in agent count, revenue and transactions

Real Estate News

MARCH 7, 2024

Fourth-quarter revenue was up a whopping 89%, though net losses rose along with operating expenses.

Agents

Opendoor dropped from Nevada commissions lawsuit

Real Estate News

MARCH 7, 2024

The Whaley case had been the only major copycat lawsuit to name the company as a defendant.

AI is so much more than ChatGPT — here’s what you need to know

Real Estate News

MARCH 7, 2024

Products that just scratch the surface of what AI can do are giving real estate “a bad rap,” but there are ways to go deeper (without getting in too deep).

Home flipper optimism continues to rise — for now

Real Estate News

MARCH 3, 2024

The winter dip in mortgage rates gave a boost to first-time buyers and home flippers, a new report shows. Whether that continues depends on the Fed.

Mortgages

A strong start to the year for new home sales

Real Estate News

FEBRUARY 26, 2024

Sales of new homes rose in January and inventory remained robust. Median prices were up even as some builders continue to offer buyer incentives.

Sales

eXp drops nearly 2K agents in fourth quarter as profits fall

Real Estate News

FEBRUARY 22, 2024

The company said its "decision to offboard a significant number of unproductive agents" in Q4 was offset by "excellent" retention of strong producers.

Agents

Tech Bytes: News from Zillow, HomeStack, SkySlope, more

Real Estate News

FEBRUARY 22, 2024

Zillow's Listing Showcase expands; HomeStack joins MoxiWorks network; Bright MLS adds SkySlope; Luxury Presence launches AI lead tool; Rechat adds partners.

MLS

Nick Bailey out in RE/MAX leadership shakeup

Real Estate News

FEBRUARY 22, 2024

Amy Lessinger, former SVP of Region Development, takes over as president, while two other execs receive promotions.

Development

Mortgage rates near 7% are stalling sales

Real Estate News

FEBRUARY 22, 2024

Inventory is building as buyers stay on the sidelines, but there’s still hope for more activity as the spring shopping season gets underway.

Sales

Sales Mortgages As-is

Real Estate News

Anywhere focused on cost-cutting as revenue holds steady

NAR deal ‘could be detrimental’ to Black agents, buyers

Trending Sources

Realty ONE, @properties reach settlements in commission cases

Judge says yes to consolidation of Missouri cases

Zillow CEO: ‘Keep your head down and deliver for your customers’

CoStar revenue up 12%, but Homes.com advertising eats into profits

‘Change will absolutely happen’ — so build something new

People on the Move: C.A.R. CEO resigns; eXp names new CMO

Home sellers make another bid for consolidation in Missouri

Brokerages, MLSs not covered under NAR deal face 60-day deadline

CoStar acquires Matterport — and all its data

Brokerage Beat: News from Real, Corcoran, C21, BHGRE, Sotheby's

People on the Move: Chicago Association of Realtors president resigns

Racial disparity in appraisals continues to improve

Top portal rivals show mutual support for buyer agency

Agents must get on board with the ‘new way’ of doing business

Brokerage Beat: News from Corcoran, Real, E&V, more

Opendoor: We’re ‘built for’ post-settlement world

Down payments, cash offers rise in response to interest rates

What every real estate professional needs to know about the MLS

T3 Sixty suspends release of real estate brokerage ranking

Pacaso adds third-party listings, DIY co-ownership option

Industry seeking clarity — and change — in FHA and VA lending

Arguments against consolidation dominate hearing

Mortgage rates creep down, but not enough to tempt buyers

Northwest MLS criticizes DOJ commissions stance

Winners, losers and a look at the post-commissions deal future

Brokerage Beat: News from C21, Christie's in Florida and Idaho

eXp paid out more than $230M in rev share and stock last year

Twice as many sellers are looking to relocate in 2024

Realtor.com listings now display 5 climate risk factors

Redfin opens buyer agreement rebate program nationwide

Hispanic homeownership trends reflect challenges, opportunities

Will NAR ‘become a shadow of its current self’ in 2 years?

Mortgage rate dip leads to jump in activity

Real posts big gains in agent count, revenue and transactions

Opendoor dropped from Nevada commissions lawsuit

AI is so much more than ChatGPT — here’s what you need to know

Home flipper optimism continues to rise — for now

A strong start to the year for new home sales

eXp drops nearly 2K agents in fourth quarter as profits fall

Tech Bytes: News from Zillow, HomeStack, SkySlope, more

Nick Bailey out in RE/MAX leadership shakeup

Mortgage rates near 7% are stalling sales

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