Real reaches profitability milestone in Q2
Despite a net loss of just over $4M, the company increased revenue by 65% and reported EBITDA profits for the first time, while also doubling agent count.
August 9, 2023
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- Appraisal fairness improving, reversing a decade-long trendA new analysis of federal data found that the racial home appraisal gap has narrowed since the formation of the PAVE task force.August 9, 2023
- Compass improving its bottom line despite continued lossesThe brokerage lost $48 million in Q2 — an improvement after substantial losses in Q1 — and the company emphasized its free positive cash flow.August 7, 2023
- NAR membership up even as transactions declineMember count increased by more than 6,500 in July, but the "fiercely competitive business environment" could spur attrition in the coming months.August 6, 2023
- MARIS buys into MLS joint ventureThe Midwestern MLS, which covers parts of Missouri and Illinois, is investing in REdistribute, a data revenue-share program.August 4, 2023
- eXp delivers a profitable second quarter — and adds agentsThe company reported a net income of $9.4 million, slightly below expectations, while its agent count grew by 7%.August 3, 2023
- Mortgage rates approach 7% following U.S. rating downgradeFreddie Mac put the average 30-year fixed-rate mortgage at 6.9% this week, just below the peak seen in mid-July.August 3, 2023
- HomeServices of America loses appeal in commissions caseThe Eighth Circuit Court of Appeals upheld a ruling denying HSoA’s motion to force arbitration in the Sitzer/Burnett case, scheduled for trial in October.August 3, 2023
- Zillow revenue exceeds expectations, bolstered by rentalsOverall revenue was up from Q1 and slightly higher year-over-year, but net losses continued to mount.August 2, 2023
- As buyers move farther away, agents need to be ready for themNAR’s midyear forecast touched on a variety of trends, highlighting increased moving distances as a notable recent change.August 2, 2023
- Why MLSs should play up their value to consumersEmily Chenevert, CEO of ABoR and the newly rebranded Unlock MLS, wants Austin buyers and sellers to associate "MLS" with more than just soccer.August 2, 2023
- New CEO addresses San Diego Realtors amid turmoilIn a letter to members, Cory Shepard vowed to lead the organization into a new chapter after the former CEO was accused of embezzlement.July 31, 2023
- Luxury market split: West Coast prices drop, East Coast upNationwide, luxury home prices are still on the rise, but several Western cities have experienced double-digit declines in the past year.July 31, 2023
- Why do sellers pay buyer-broker commissions?The system of sellers funding commissions, which are then shared between seller and buyer agents, goes back more than 100 years. Is it time for a change?July 28, 2023
- Mortgage rates move closer to 7%The 30-year fixed-rate mortgage rose to 6.81% this week as the Fed raised its benchmark rate to the highest level since 2001.July 27, 2023
- Rentals can be a ‘perfect hedge’ during a slow marketThe property management platform RentSpree is seeing an uptick in real estate agent customers as for-sale inventory remains limited.July 27, 2023
- Home equity reaches a 4-year highThe percentage of equity-rich homes hit 49% in the second quarter, rebounding after a decline earlier in the year.July 26, 2023
- After pausing in June, the Fed hikes rates againThe benchmark rate is now in the 5.25-5.5% range, the highest level in 22 years.July 26, 2023
- Another strong quarter for CoStar as revenue, site traffic climbsThe commercial and residential real estate giant continues to grow revenue and income while also investing in Homes.com.July 25, 2023
- Commissions lawsuits continue to progress in the US, CanadaThe defendants in several major lawsuits have not gained any ground this summer as the first case moves toward trial in less than 3 months.July 24, 2023
