IndustryNew lawsuits crop up to challenge agent compensationCases in South Carolina, New York and Chicago pit consumers against NAR, REBNY, Keller Williams and other top real estate companies.Dave GallagherNovember 10, 2023
AgentsBrokerage on a mission gives millions back to military familiesIn a Navy town, McKenzie Better Homes and Gardens Realty supports military families and veterans with more than the typical real estate services.Cheryl Reid-SimonsNovember 10, 2023
IndustryCommissions verdict casts a long shadow over Q3 earningsZillow, Redfin and CoStar assured investors that they can withstand “massive disruption,” while others discussed efficiencies and even some avenues for growth.Dave GallagherNovember 10, 2023
BrokeragesReal revenue, agent count up nearly 100% in past 12 monthsStrong growth was the theme of the quarter despite a net loss. CEO Tamir Poleg also said he believed Real will come out ahead should commissions rules change.AJ LaTraceNovember 9, 2023
By the NumbersBig rate drop could mean flurry of Thanksgiving home salesMortgage rates took a dive this week, experiencing the largest one-week decline in a year.Dave GallagherNovember 9, 2023
MLS/AssnNAR president’s post-verdict message: Be transparent, trust appealsTracy Kasper addressed Realtors in a video post, offering specific advice for working with buyers and sellers, and a look ahead to other legal actions.Stephanie Reid-SimonsNovember 9, 2023
BrokerageseXp confirms ‘bad actors’ fired were defendants in sexual assault caseDuring the company's recent earnings call, CEO Glenn Sanford was asked about ongoing litigation that claims eXp ignored a pattern of sexual misconduct.AJ LaTrace, Dave GallagherNovember 8, 2023
IndustryZillow confirms layoffs affecting ‘a small number of roles’A spokesperson said roughly two dozen people were laid off across multiple teams as part of Zillow’s ongoing resource-management efforts.AJ LaTraceNovember 7, 2023
BrokeragesPost-verdict picture: Denial, anger and rethinking buy-side payDuring a webinar, T3 Sixty leaders acknowledged that emotions are running high as they talked through potential implications of the Sitzer/Burnett verdict.AJ LaTraceNovember 7, 2023
TechTech Bytes: News from RealScout + Anywhere, Chime, Scout, moreAnywhere inks deal with RealScout; Scout wins pitch battle; Chime rebrands; Saskatchewan Realtors adds Restb.ai; Recruiting Insight absorbs Talent Scout.Real Estate News StaffNovember 7, 2023
IndustrySeasonality, regional divergence key trends to watchLance Lambert, former real estate editor at Fortune, discussed his theory of the market’s headwinds and tailwinds — and the “tug-of-war” they’re playing.AJ LaTraceNovember 7, 2023
BrokeragesCompass CEO expresses 'confidence' in commissions following verdictIn the Q3 earnings call, Robert Reffkin said Sitzer/Burnett probably won't lower commission splits, highlighted the company's strength despite continued losses.Dave GallagherNovember 6, 2023
IndustryA post-verdict future is taking shape fast — here’s what to doMore settlements and MLS changes are coming, the CEOs of NextHome and T3 Sixty say. Agents need training, and they’re not the only ones.Stephanie Reid-SimonsNovember 6, 2023
IndustryDon’t believe the doomsayers — buyer agency is here to stayFollowing the Sitzer/Burnett verdict, the internet has been buzzing about the end of buyer agency. Industry expert Russ Cofano says that's just a lot of noise.Russ CofanoNovember 4, 2023
BrokeragesBrokerage Beat: News from Christie's, John L. Scott, ERA, moreChristie's expands in NorCal, Caribbean; John L. Scott acquires Sterling Johnston; ERA, C21 add affiliates; CB Warburg nabs lux agent; eXp lands $4B team; more.Real Estate News StaffNovember 4, 2023
IndustryWill the commissions verdict kill the MLS? Not so fast, say portal execsThe Sitzer/Burnett verdict has the industry bracing for a sea change. But leaders at Zillow and Homes.com say MLSs add value and can’t simply be torn down.AJ LaTraceNovember 3, 2023
BrokerageseXp looks to international growth as profits fallCEO Glenn Sanford acknowledged the challenging market, but said eXp has increased market share and added agents even as revenue remains flat.AJ LaTraceNovember 3, 2023
By the NumbersJobs report could mean lower mortgage rates are comingThe pace of jobs and wages slowed in October, which may reduce inflation and potentially knock down mortgage rates in time for the spring selling season.Dave GallagherNovember 3, 2023
BrokeragesRE/MAX losses soar following payout in commissions casesWhile revenue dipped slightly, net losses totaled more than $59 million, but CEO Steve Joyce said the company continued to make progress in a tough market.Robert DavisNovember 2, 2023
BrokeragesRedfin ready for a ‘revolution’ after commissions verdictCEO Glenn Kelman told investors its customer focus, including self-service options for buyers, helped improve earnings and could help Redfin grab market share.Cheryl Reid-SimonsNovember 2, 2023