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Opinion: The invasion of the flat-fee, low-cost real estate brokerage

Housing Wire

Low-cost residential real estate brokerage is not necessarily a new phenomenon. Some may also charge other fees for such things as Errors & Omissions insurance, desk rental, technology, etc. By transactions last year, flat-fee firms did 12% of the closed business of the top 100, compared to 5% back in 2013.

Brokerage 357
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2023 RealTrends real estate brokerage rankings show growth in low-cost firms

Housing Wire

Despite market headwinds, the top brokerages continued to show growth in the 2023 RealTrends 500 brokerage rankings. These four brokerage companies did just over $20 billion in residential gross commission revenue, which shows steady growth in a down market,” said RealTrends Senior Advisor Steve Murray. “In

Brokerage 400
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Better.com to acquire UK-based digital mortgage brokerage

Housing Wire

The company, which is expected to go public later this year, has agreed to acquire United Kingdom-based digital mortgage brokerage Trussle. Terms of the deal were not disclosed, but the Financial Times reported that SoftBank -backed Better bought Trussle for a “cut-price,” one that values the mortgage brokerage at just $9 million.

Brokerage 392
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reAlpha launches AI-powered buyers’ agent chatbot

Housing Wire

Real estate technology company reAlpha Tech Corp. Claire boasts a conversational interface to guide users through every step of the homebuying journey, from property search to deal closing. launched Claire, a generative artificial intelligence -powered, zero-commission buyers’ agent chatbot, the company announced on Wednesday.

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Expansion-obsessed eXp reports $80M in Q3 profits

Housing Wire

The cloud-based brokerage recorded $1.1 The third quarter of 2021 saw eXp agents close 130,029 residential transaction sides, a year-over-year increase of 72%. Residential transaction volume also rose to $46.6 The brokerage was the fourth-largest in the U.S. Operating expenses also increased 100.3%

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Compass acquisition could worry some California agents

Housing Wire

The buy is Compass’s first since the residential brokerage started publicly trading shares earlier this month. In effect, said one Bay Area broker, who requested anonymity to speak candidly, “All the agents in California were starting to use Glide for backroom technology.”.

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Compass files for IPO

Housing Wire

SoftBank -backed residential brokerage Compass filed paperwork with the Securities and Exchanges Commission on Monday to go public. The brokerage, which has raised $1.5 Founded in 2012 by Robert Reffkin and Ori Allon, Compass ended 2019 as the third-largest residential brokerage in the country, according to REAL Trends.

Brokerage 379