MLS/AssnWant to get top dollar for your seller? Stick with the MLSTwo regional studies of home sales found that properties listed on the MLS sold for significantly more than homes sold off-MLS.Dave GallagherAugust 11, 2023
By the NumbersNearly 60% of major metros saw home prices rise last quarterMany of the biggest annual price gains were in the Midwest, with Fond du Lac, Wisconsin, leading the way with a 25.3% gain.AJ LaTraceAugust 10, 2023
By the NumbersMortgage rates return to peak levels, inflation ticks upAverage rates reached 6.96% again after rising three weeks in a row, and after falling last month, inflation crept back up.Dave GallagherAugust 10, 2023
IndustryOpendoor's future is looking a little brighterA more ‘judicious’ and partner-focused Opendoor will help the company succeed in the wake of significant losses and layoffs.AJ LaTraceAugust 10, 2023
BrokeragesReal reaches profitability milestone in Q2Despite 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.Dave GallagherAugust 9, 2023
IndustryAppraisal 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.Dave GallagherAugust 9, 2023
BrokeragesRE/MAX CEO: Don't expect to 'get rich off somebody else's back'At a conference this week, Nick Bailey said the company’s value lies in its strong brand identity and agent experience — not downlines or profit sharing.AJ LaTraceAugust 8, 2023
By the NumbersRecord-high home prices are back in many metrosA new Black Knight report reveals major gains in the Midwest and Northeast, signals an end to the U.S. housing correction.AJ LaTraceAugust 7, 2023
BrokeragesCompass 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. Dave GallagherAugust 7, 2023
TechTech Bytes: News from Constellation1, Chime, HAR, moreSERHANT. partners with Constellation1; Chime integrates ChatGPT; HAR, AZ Realtors add accessibility tools; Christie's adopts Modwell; more.Real Estate News StaffAugust 7, 2023
By the NumbersDemand for land is hot, hot, hotMore than half of the land brokers in a recent survey said the national land market is “hot” or “on fire.”AJ LaTraceAugust 7, 2023
MLS/AssnNAR 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.Dave GallagherAugust 6, 2023
AgentsKofi Nartey to drive growth at Real, 'share what I have learned'The billion-dollar sports and entertainment broker has moved his Globl RED team to The Real Brokerage where he will serve as national growth leader.Nicole BrodeurAugust 5, 2023
MLS/AssnMARIS buys into MLS joint ventureThe Midwestern MLS, which covers parts of Missouri and Illinois, is investing in REdistribute, a data revenue-share program.Dave GallagherAugust 4, 2023
BrokeragesBrokerage Beat: News from eXp, E&V, ERA, C21, The AgencyeXp gains 200+ agents from two brokerages; ERA and Century 21 add family-run affiliates; Engel & Völkers doubles SoCal presence; The Agency opens in Kelowna.Real Estate News StaffAugust 4, 2023
By the NumbersMore listing opportunities may be on the horizonNearly a quarter of homeowners are considering selling in the next 3 years, according to a Zillow survey — a significant increase over prior surveys. AJ LaTraceAugust 4, 2023
IndustryAs revenue falls, Opendoor returns to profitabilityThe top iBuyer hopes scaling home purchases, improving margins and leveraging partnerships will continue fueling its return to positive net income.AJ LaTraceUpdated August 5, 2023
BrokeragesRedfin to change up agent recruiting, splits as losses continueAmid falling revenue and elusive net profits, the company plans to pilot a program to give agents "the lion’s share of the commission on self-sourced sales."Cheryl Reid-SimonsAugust 3, 2023
BrokerageseXp 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%.Dave GallagherAugust 3, 2023
By the NumbersMortgage 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.Dave GallagherAugust 3, 2023