By the NumbersPending home sales slid nearly 5% in JanuaryWhile pending sales reversed course last month, experts blamed seasonality and less favorable borrowing rates for the lack of activity from buyers. AJ LaTraceFebruary 29, 2024
BrokeragesShowingTime+ gives Howard Hanna exclusive access to AI toolZillow’s Listing Showcase product will be available only to Hanna agents in the Cleveland and Pittsburgh metros.Dave GallagherFebruary 28, 2024
By the NumbersThe housing market needs 7 million more homesA new Realtor.com report found that the housing supply gap has grown considerably over the past decade as household formation has outpaced home construction. AJ LaTraceFebruary 28, 2024
IndustryReport: Existing buyer agency agreements can harm consumersThe Consumer Federation of America analyzed 43 agreements and concluded that they generally served to protect agents but offered few benefits to buyers.Robert DavisFebruary 28, 2024
Brokerages‘We need to do more,’ CEO tells Keller Williams faithfulMark Willis challenged KW Family Reunion attendees to own their full potential and get back on a growth trajectory after a tough year.Dave GallagherFebruary 28, 2024
BrokeragesRedfin cuts losses, touts site trafficCEO Glenn Kelman highlighted new programs and told investors the company isn’t interested in an ad war: “Our basic thesis is that the best product wins.”Cheryl Reid-SimonsFebruary 27, 2024
BrokeragesCompass continues to add agents, improves lossesRevenue dipped, but Compass managed to gain more than 1,000 agents in 2023 and cut losses for the year nearly by half.Dave GallagherFebruary 27, 2024
BrokeragesKeller to buyer agents: Explain your value or ‘get the hell out’Keller Williams’ charismatic co-founder kicked off the Family Reunion event with his hot takes on the housing market “winter” and how to get through it.AJ LaTraceFebruary 27, 2024
BrokeragesRedfin targeted in new commissions suit blasting buyer agentsThe plaintiff, who paid a 2% commission, argues in the filing that “a truly competitive rate for buyers’ agents would in fact be 0%.”Cheryl Reid-SimonsFebruary 27, 2024
By the NumbersHome price growth bucked historical norms in 2023Despite market challenges, the Case-Shiller Index was up 5.5% annually in December, exceeding national averages over the past three decades.Dave GallagherFebruary 27, 2024
Paid Content4 ways agents can rejuvenate a stale listingIf you have a listing that’s been sitting on the market for more than three months, it may be time to rethink your strategy.ShowingTime+
By the NumbersA strong start to the year for new home salesSales of new homes rose in January and inventory remained robust. Median prices were up even as some builders continue to offer buyer incentives.AJ LaTraceFebruary 26, 2024
IndustryPeople on the Move: ‘Dynamic leader’ named Fort Worth association CEOSuzanne Westrum’s leadership and business experience seen as a significant benefit to GFWAR; Relevate promotes tech and operations leaders.Real Estate News StaffFebruary 25, 2024
AgentsAgents Decoded: Thinking about opening a brokerage? Start here.For Jay Thompson, starting his own firm was a career highlight. He lays out the pros and cons, and the questions agents should ask when pondering this big move.Jay ThompsonFebruary 24, 2024
BrokeragesBrokerage Beat: News from Corcoran, RE/MAX, C21, moreCorcoran grows in Houston; RE/MAX adds WY offices; C21 gains Denver affiliate; TN firm joins BHGRE; Livian adds 4 teams; The Agency opens in Halifax & Jamaica.Real Estate News StaffFebruary 24, 2024
BrokeragesRE/MAX: Growing US agent count a top priority as revenue fallsLosses rose as revenue, U.S. agent count dropped. After a leadership shakeup, CEO Erik Carlson said having "the right people" is "vital to our future success."Cheryl Reid-SimonsFebruary 23, 2024
BrokerageseXp drops nearly 2K agents in fourth quarter as profits fallThe company said its "decision to offboard a significant number of unproductive agents" in Q4 was offset by "excellent" retention of strong producers.Dave GallagherFebruary 22, 2024
BrokeragesNick Bailey out in RE/MAX leadership shakeupAmy Lessinger, former SVP of Region Development, takes over as president, while two other execs receive promotions.Stephanie Reid-SimonsUpdated February 22, 2024
TechTech Bytes: News from Zillow, HomeStack, SkySlope, moreZillow's Listing Showcase expands; HomeStack joins MoxiWorks network; Bright MLS adds SkySlope; REcore acquires NorthstarMLS tech; more.Real Estate News StaffFebruary 22, 2024
By the NumbersExisting home sales up after a year marked by declinesSales rose by more than 3% in January, suggesting a turnaround in 2024, but mortgage rates still hold the key to the future of the market.Cheryl Reid-SimonsFebruary 22, 2024