Reader favorites: Our 5 most popular stories so far
A lot has happened in the industry since we launched just over two months ago. If you missed any of these top stories, here's your chance to catch up.
Since Real Estate News launched, we've covered layoffs, stomach-churning mortgage changes, disappointing earnings reports and the impacts of a rapidly slowing market. And that was in just two months.
It seems like a year's worth of stories. And you, our readers, had some clear favorites.
The top two stories are, perhaps not surprisingly, about a topic with wide-ranging consequences — the future of compensation in the industry. But the others also look to the future, with reassurances that whatever doom and gloom you might read about, residential real estate still has a remarkable and sustainable upside for those who ride out the storms.
These are the five most-read articles since our launch on October 24.
Lawsuit over commissions advances
Buckle up. A dispute with potentially far-reaching impacts on real estate commissions is going to trial.
In December, a federal judge in Missouri gave the greenlight for the class action lawsuit over real estate commissions to continue. The defendants in the case, the National Association of Realtors as well as some of the nation's largest real estate companies — Anywhere, Keller Williams, RE/MAX and HomeServices of America — had asked the judge to issue a summary judgment in their favor. He rejected their request and set a trial date for October 16, 2023.
Swanepoel Trends 2023: What the future could hold for agent and broker pay
Real estate's compensation structure seems poised for radical change, whether by choice or by court order. What could that look like for agents and brokers alike?
An exclusive excerpt from the 2023 Swanepoel Trends Report outlines the potentially seismic shifts the industry should be bracing for on multiple fronts, from the Federal Trade Commission to court rulings to NAR and MLS policy changes. Will buyers start paying fees to their own agents? What does this mean for brokers and agents in the months ahead.?
This excerpt offers a closer look at some possible outcomes, with a deeper dive into broker compensation specifically.
Zillow ready to show off ShowingTime+ in 2023
Zillow is moving ever closer to its goal of creating a comprehensive agent app with plans to bundle more features into ShowingTime+.
ShowingTime+ was introduced in September, offering brokerage and MLS back-office software, a transaction management platform and Zillow's Rich Media Experience team to oversee 3D tours and interactive floor plans.
In December, the company announced plans to introduce products that will help agents with everything from booking a photographer to branding their listings, each one a step closer to its holy grail of an agent super app.
Swanepoel's Inner Circle: The upside of downturns
Even in a bad real estate market, there is money to be made and opportunities that present themselves if you keep looking, Stefan Swanepoel says.
And with four decades of leadership experience in many facets of real estate, Swanepoel knows more than most about riding out downturns and figuring out how to position yourself for the next upturn.
"I've seen people pity themselves during challenging times and blame someone else or the downturn for their misfortunes. Some may decide this is a terrible industry and feel like running. But when a market is in decline, that does not mean you also must be on a downward path. Strap yourself in and embrace the bumpy ride while constantly looking for gaps in the market."
Read more of his advice on surviving and thriving in the turmoil here.
A slower market isn't slowing growth at The Real Brokerage
With the market putting most of real estate into retrenching mode, The Real Brokerage is looking toward growth in 2023. In an interview with Real Estate News, CEO Tamir Poleg said that the company will continue to grow in the coming year, adding not just agents but leveraging their recently acquired title and mortgage companies to help provide an all-in-one service for homebuyers and sellers.
He also acknowledged that as a publicly traded company, it's not enough to just grow — The Real Brokerage needs to turn a profit, something they aim to do by the end of the year.