MLS/AssnNAR reaches $418 million deal to settle commissions lawsuitsThe settlement, which still requires court approval, adds a new rule prohibiting offers of broker compensation on the MLS.AJ LaTraceMarch 15, 2024
AgentsAgent optimism up as new listings surgeA national survey of 1,900 real estate agents found that most are anticipating a good market in the coming six months. AJ LaTraceMarch 14, 2024
IndustryCommissions cases: The next 90 days could change everythingThree key decisions, including the Sitzer/Burnett judgment, are expected this spring — and they could determine what happens next for the industry.Dave GallagherMarch 14, 2024
Paid ContentWhy one team is pushing hard on Listing Showcase — and seeing resultsAgent Dusty LaBossiere of Century 21 in Georgia says sellers have been “super excited about the product,” and it’s giving his team a competitive advantage.ShowingTime+
By the NumbersMortgage rates see biggest weekly drop since DecemberRates eased this week, but they will likely remain elevated throughout the spring months as the Fed waits to take action on interest rates.Dave GallagherMarch 14, 2024
By the NumbersTwice as many sellers are looking to relocate in 2024A 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.Dave GallagherMarch 13, 2024
BrokerageseXp paid out more than $230M in rev share and stock last yearIn a new compensation report, eXp said it paid agents and brokers nearly $198 million in revenue share and $34.7 million in EXPI shares.AJ LaTraceMarch 13, 2024
AgentsRealtor.com listings now display 5 climate risk factorsBuyers can see heat, wind and air quality ratings in addition to the existing flood and wildfire ratings, which can “help reduce surprise costs.”Dave GallagherMarch 13, 2024
BrokeragesRedfin opens buyer agreement rebate program nationwideThe brokerage said the program, which launched as a pilot in September, is “good for our customers, our agents and our growth as a brokerage.”AJ LaTraceMarch 12, 2024
TechOJO acquires The LEAD Syndicate, launches new platformAlong with the acquisition, the companies unveiled a new solo agent suite called Lever by Movoto and said OJO products will now use the Movoto brand.AJ LaTraceMarch 12, 2024
MLS/AssnWill NAR ‘become a shadow of its current self’ in 2 years?The association reported a fourth month of membership declines, with membership falling below 1.5 million for the first time in nearly three years.AJ LaTraceMarch 12, 2024
IndustryHispanic homeownership trends reflect challenges, opportunitiesA new NAHREP report shows that despite the tough market, Latinos found creative routes to homeownership in 2023, such as co-borrowing, but barriers remain. Amber TaufenMarch 12, 2024
BrokeragesMarc King departs KW president role amid layoffsCEO Mark Willis adds “president” to his title and confirms that about 30 people have been let go from the company.Stephanie Reid-SimonsMarch 11, 2024
IndustryU.S. Housing Secretary Marcia Fudge to step downFudge, a longtime advocate for affordable housing, announced she will leave her HUD post on March 22.Dave GallagherMarch 11, 2024
BrokeragesAgents are ‘most underserved’ entrepreneurs, Coldwell Banker CEO saysKamini Lane, who took the helm less than a year ago, has reshaped her leadership team and sharpened her focus on empowerment and making a positive impact.Nicole BrodeurMarch 11, 2024
Industry$30 billion savings from ‘a la carte’ commissions?New research from the Federal Reserve puts a price tag on changing agent compensation, pushing for it to be independent of the price paid for the home.Dave GallagherMarch 9, 2024
BrokeragesBrokerage Beat: News from United, Compass, The Agency, moreUnited gains 1,500-agent firm; Compass adds top Pittsburgh team; The Agency opens in Hilton Head; moves at CB Warburg, John R. Wood Christie’s, E&V Gestalt.Real Estate News StaffMarch 9, 2024
By the NumbersThe new prime time for sellers? It’s no longer MayA report from Zillow found that summer can be the most lucrative time to list, but low inventory means rate fluctuations can “make their own seasonality.” Cheryl Reid-SimonsMarch 8, 2024
IndustrySteve Harney, an educator, entrepreneur and advocate, has diedHarney, a top agent, broker/owner and founder of Keeping Current Matters, is fondly remembered as “one of the kindest and most passionate men” in the industry.Stephanie Reid-SimonsMarch 8, 2024
IndustryPeople on the Move at RateMyAgent, Christie's SoCal powerhouse, RelevateJim Crisera leaves MoxiWorks for RMA; Jamie Duran takes on EVP role at AKG Christie's; Sheila Dodson to lead consulting, industry relations at Relevate.Real Estate News StaffUpdated March 8, 2024