Redfin leaves NAR: 'Enough is enough'
In a note signed by CEO Glenn Kelman and other Redfin leaders, the company said “NAR isn’t the future.”
October 2, 2023
AJ LaTrace
Director, News Reporting
AJ has covered real estate for the last decade as a reporter and editor for publications including Vox Media's Curbed, Chicago magazine and Business Insider. At Business Insider, AJ led the brand's coverage of how everyday people invest in real estate as a means of gaining financial independence, and he reported on big-picture trends and pain points in the broader U.S. real estate market. AJ is based in Chicago, where he also moonlights as a small-time landlord.
- Cloud-based brokerage iad lands in the USThe French company has over 20,000 agents across Europe and Mexico, and now it’s ready to stake a claim in the lucrative U.S. market.September 29, 2023
- eXp exec talks rev share, ‘attraction’ and agents’ No. 1 jobChief Growth Officer Michael Valdes says eXp doesn’t “recruit” agents in a transactional sense, but seeks to “attract” for long-term growth and success.September 29, 2023
- Pending home sales slid a staggering 7.1% in AugustThe decline could mark "the beginning of the end of this resilient housing market," according to one economist.September 28, 2023
- 5 takeaways as titans tackle real estate’s hottest topicsIndustry heavyweights — and former rivals — Spencer Rascoff and Glenn Kelman addressed some of the toughest issues facing real estate in a lively discussion.September 26, 2023
- Existing home sales fall for the sixth time in 2023Sales dipped in August but have been relatively stable on average — though well below last year's levels, reflecting high prices and limited supply.September 21, 2023
- Get your buyers ready: The best time to buy a house is…Forget the spring and summer rush — home shoppers will have better luck making a deal during the first week of October, according to Realtor.com.September 20, 2023
- No rate hikes (yet) as Fed shakes off mortgage ‘lock-in’ effectThe Fed did not boost interest rates at its September meeting but warned that one more hike is likely this year.September 20, 2023
- Compass aims to save agents 'time and money' with AI toolThe brokerage has launched a new ChatGPT-based tool to help agents “accelerate their workflow” by crafting listing descriptions and more.September 18, 2023
- Engel & Völkers names new Group CEOCurrent CEO Sven Odia will shift to the role of president as he supports Jawed Barna's transition in November.September 15, 2023
- Why Real’s president says they don’t do ‘downlines’They've structured the brokerage to avoid silos, which makes Real's rev share model better for agents and teams, says Sharran Srivatsaa.September 15, 2023
- A startup wants to cut mortgage rates in half for new buyersRoam, launched this week by a former Opendoor employee, aims to help buyers through the complicated and time-consuming mortgage assumption process.September 14, 2023
- Some good news for homebuyers: Listings are upA Zillow report found that new listings rose by 4% in August, an atypical late-summer boost that may offer buyers a few fresh options.September 12, 2023
- eXp lands billion-dollar brokerage in New EnglandBean Group, which serves Maine, New Hampshire, Massachusetts and Vermont, has joined eXp thanks to new incentives aimed at recruiting large teams.September 12, 2023
- eXp aims to ‘accelerate’ rev share for new agentsThe company has retooled its revenue share program to make it easier for newer agents to benefit from it — and to help its recruiting efforts.September 11, 2023
- Another sign of a market rebound? Home equity is back upOn average, U.S. homeowners gained nearly $14,000 in equity since the beginning of the year, though equity is down slightly from last year's peak.September 8, 2023
- It’s ‘game-on again’ for home search portals, says ex-Zillow CEOAn ambitious challenge from Homes.com for consumer market share and agent dollars has reignited the portal competition, says former Zillow CEO Spencer Rascoff.September 8, 2023
- Real unveils 'very valuable' shift in rev share program“A lot of agents are going to make more money,” says CEO Tamir Poleg as Real reduces the threshold to move up in its rev share structure.September 6, 2023
- Most buyers weigh climate risk when home shoppingA new survey from Zillow found that more than 80% of homebuyers evaluate climate and environmental risks when considering where to live.September 6, 2023
- Ex-Zillow CEO: NAR lawsuits ‘a seismic event’ for agents, portalsSpencer Rascoff said home search portals may need to pivot in a world where buyers agents are no longer paid via the listing agent’s commission.September 1, 2023
- Do new and older homes cost the same now? It’s complicatedLimited inventory is changing the behavior of buyers and the price of new construction relative to existing homes, several experts told Real Estate News.August 26, 2023
- Zillow rolls out 1% down home loan programThe company said the new program, initially launching in Phoenix, will help ease one of the biggest barriers to entry for buying a home.August 24, 2023
- Existing home sales fall again — except in the WestNAR reported a 2.2% national decline in sales in July, but the West bucked the trend, and more first-time buyers entered the market.August 22, 2023
- A wave of housing forecast updates point the same way: upResearchers from Zillow, Freddie Mac, and Goldman Sachs all issued revised, rising 2023 home value and price forecasts in the past week.August 22, 2023
- Former Zillow CEO unveils latest venture: an AI-powered, lead-gen assistantSerial entrepreneur Spencer Rascoff predicts real estate agents will be “one of the biggest verticals” that will use HeyLibby to turn contacts into customers.August 18, 2023
- Judge rebuffs Chinese homebuyers’ push against Florida lawThe law, which took effect July 1, prohibits “foreign principals” from a number of countries from buying real estate in Florida.August 18, 2023
- Builder confidence slides as mortgage rates climb back to 7%After seven consecutive months of improving confidence, homebuilders were feeling less optimistic in August.August 16, 2023
- Nearly 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.August 10, 2023
- Opendoor'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.August 10, 2023
- RE/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.August 8, 2023
- Record-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.August 7, 2023
- Demand 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.”August 7, 2023
- More 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.August 4, 2023
- As 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.Updated August 5, 2023
- Offerpad revenue down more than 60% but profits are upThe iBuyer reduced losses and acquired more homes over Q1, but sales and revenue dipped significantly.August 2, 2023
- HELOCs now a riskier proposition for investorsHigh interest rates and economic uncertainty have made home equity lines of credit costlier and more precarious.August 1, 2023
- Zillow, Redfin build on partnership with new construction listingsThe two former rivals and popular home-search sites extend their connection beyond 3D Home, with Redfin calling Zillow listings “a new revenue opportunity.”August 1, 2023
- Pending home sales ticked up in JuneThe 0.3% gain is the first increase in four months, NAR reported, suggesting that “the housing recession is over.”July 27, 2023
- New home sales dipped in June but are well above levels from a year agoPrices also fell slightly, nearly closing the gap between new and existing home prices.July 26, 2023
- Home prices rise 4 months in a rowThe Case-Shiller index for May shows steady home price growth since January and a slight dip compared to this time last year.July 25, 2023
- Florida and Texas markets are slowly regaining some balanceAfter heating way up over the past few years, prices and inventory in two of the most populous states are showing signs of stabilizing.July 24, 2023
- NAR 'confident' in the face of challenges to compensationThe association believes it will prevail in court, but also “highly encourages agents to use buyer broker agreements.”July 21, 2023
- Existing home sales are down, prices are way upNAR reported that existing home sales fell in June and dropped nearly 19% year-over-year. But median sale prices reached a near-record high.July 20, 2023
- Homes.com traffic up 200% — could it become a top portal?Zillow's site visits were up, but the portal lost market share while Homes.com and Redfin made gains, and Realtor.com slumped.July 19, 2023
- Pennsylvania broker-owner: Small MLS ‘fiefdoms’ hurt agents and clientsBroker-owner Adam Conrad of Perry Wellington Realty describes the challenges of navigating seven different MLSs as the slow journey to consolidation continues.July 15, 2023
- Realtor income (and expenses) up, inventory is top pain pointNAR's annual member profile found that agents earned more and upped their sales volume despite the market slowdown, while transaction sides held steady.July 14, 2023
- Former Keller Williams CEO returns in consulting capacityMark Willis, who previously served as both president and CEO at KW, is rejoining the company to assist with its market center growth.July 12, 2023
- New report calls out ‘marginal’ agents. Is it fair?The Consumer Federation of America suggests that new and less committed agents are bad for the industry and "deprive" their full-time peers of commissions.July 12, 2023
- Could home prices and interest rates both fall?Morningstar has made a bold prediction about where mortgage rates and home prices are headed, but for now, prices are still rising.July 11, 2023
- Homes selling above ask, but will reluctant sellers list?It's been nearly a year since the average home sold for more than its list price, but it may not be enough to spark a wave of inventory.July 8, 2023
- Slow job growth could signal an economic shiftA lackluster June jobs report suggests the Fed’s aggressive fight against inflation may finally be working, which could influence future rate hikes.July 7, 2023
- Steve Baird: Brokerage owners ‘need to focus on what we can control’The Baird & Warner CEO shares how his family business has thrived in a cyclical, sometimes “regressive” industry, and discusses the future of buyer agency.July 6, 2023
- Assumable mortgages: Low rates, but it’s complicatedBuyers can save a ton of money by assuming a mortgage on a home purchased a year or two ago at ultra-low interest rates, but the process can be tricky.June 28, 2023
- eXp CEO reveals Homes.com talks and new twist on recruitingGlenn Sanford’s “State of the Union” hints at strategic partnerships, an exclusive lead-gen strategy and investments in attracting teams.June 27, 2023
- 'Collaboration over competition' fuels Chicago broker collectiveThe Collaborative Edge is a group of five brokers who manage their own client relationships but share time and resources to help one another succeed.June 26, 2023
- Existing home sales and inventory tick up slightly as prices softenNumbers are still far below where they were a year ago, and inventory gains are largely due to the "abundant" supply of newly constructed homes.June 22, 2023
- ‘Agents are core’: Zillow's push to win over agents, innovate through techErrol Samuelson, chief industry development officer, explains how Zillow plans to stay on top in a growing crowd of real estate portals and agent services.June 22, 2023
- Getting your brokerage ready for a new world of buyer agencyIn light of ongoing lawsuits, brokers need to prepare their buyer agents to communicate their value and respond to objections around agreements and fees.June 19, 2023
- Dallas is the latest city to clamp down on short-term rentalsThis week, the Dallas City Council voted to ban short-term rentals from residential zones, with no exceptions for existing STRs.June 17, 2023
- Here’s what Fed Chair Jerome Powell said about real estate todayAfter 10 consecutive rate hikes, the Federal Reserve announced at today's meeting that it would hold rates steady.June 14, 2023
- Why Zillow thinks its model wins for consumers and agents alikeErrol Samuelson, chief industry development officer for Zillow, discussed the company’s "housing super app," empowering agents, and consumer innovations.June 14, 2023
- There are fewer millionaires — but don’t blame it on real estateA World Wealth Report found that the number of millionaires fell by 800,000 in one year, but real estate has been a fairly resilient asset.June 12, 2023
- A hazy future for homeowners insurance in CaliforniaTwo of the state's top providers will no longer accept new applications, setting a grim precedent and adding another challenge for buyers.June 9, 2023
- Home appreciation sluggish but could double by end of yearCoreLogic reported that national home price growth slowed to just 2% year over year in April, but gains (and losses) varied locally.June 7, 2023
- Buyers look to the South and Midwest, but costs can be highMidwest and Sunbelt markets continue to attract home shoppers, but affordability is precarious, especially in Florida as insurance rates rise.June 5, 2023
- Buyers most likely to turn to agents with financing questionsA survey of homebuyers reveals which parts of the financing process buyers understood the least, and how agents can add value through financial education.June 2, 2023
- 4 of real estate's top leaders offer a look behind the curtainCEOs Andy Florance, David Doctorow, Gino Blefari and Nick Bailey shared exclusive, and sometimes controversial, insights with Real Estate News.May 27, 2023
- CEO of fast-growing platform pitches ‘brokerage as a service’Pinnacle Realty Advisors CEO Sam Sawyer discusses his company’s model, growth trajectory and the traps they’re trying to avoid along the way.May 26, 2023
- Pending home sales flat from March to AprilLow inventory combined with a lack of affordability continues to stifle spring sales nationally, though numbers were up in some regions.May 25, 2023
- CoStar CEO's 'super simple business concept': Support agents“You do not want to think you're smarter than your customers,” Florance said on CoStar’s strategy of building Homes.com as a platform for agents and consumers.May 24, 2023
- Small investors continue to scoop up homesSeeking steady rent growth and affordable price points, investors were drawn to cities in the Midwest and Southeast.May 23, 2023
- New home sales surprisingly steady in a wobbly marketNew homes may be particularly appealing to buyers when existing home inventory is tight.May 19, 2023
- Existing home sales down for a second monthHome sales surged in February after a year of declines, but the momentum didn't last long. After dropping in March, sales dipped further in April.May 18, 2023
- Homes.com could become No. 2 search portal in 12 months, says CEOIn an exclusive interview, CoStar CEO Andy Florance shared his ambitious road map for Homes.com’s growth and a critique of the site's competitors.Updated May 26, 2023
- Buyer sentiment is up despite market challengesFannie Mae’s Home Purchase Sentiment Index saw the biggest increase in nearly a year.May 16, 2023
- Big drops in inventory thwart California buyersCalifornia homebuyers are experiencing the worst situation in the country when it comes to new home listings.May 15, 2023
- David Doctorow: The future of Realtor.com, and this ‘moment of truth’ for agentsThe Move, Inc top exec reflects on three years in the job and shares his vision of a “pure” marketplace.May 13, 2023
- NAR mandates fair housing training for all membersThe Realtor association will now require its more than 1.5 million members to complete fair housing coursework every three years.May 12, 2023
- KW sales volume down by nearly a third, but global numbers are upKeller Williams saw overall declines in transactions and sales volume in Q1, but closed $4 billion worth of deals outside of the U.S. and Canada.May 12, 2023
- Douglas Elliman down in Q1 but betting on luxury turnaroundThe brokerage reported a net loss of $15.1 million in the first quarter but says it has plenty of cash on-hand to carry it through the down cycle.May 10, 2023
- New Compass division aims to be a trusted resource for military familiesThe team, led by a retired Navy Senior Chief and an active duty Navy Lieutenant Commander, will help service members navigate the VA loan process.May 8, 2023
- RE/MAX revenue down, but mortgage business is growingThe company lost $700K and saw U.S. agent count decline in Q1, but said the results met expectations and focused on opportunities for Motto Mortgage.May 5, 2023
- Opendoor posts big losses but aims for positive margins by Q3The leading iBuyer lost $101 million in Q1, but that's a significant improvement over the previous quarter, and they are now "looking for stabilization."May 4, 2023
- Top brokers talk industry’s biggest challenges — lawsuit and allIn a panel discussion, leaders of four fast-growing brokerages shared their thoughts on agent attrition, the commissions lawsuits and other hot topics.May 3, 2023
- CoStar’s Andy Florance takes direct aim at ZillowThe CoStar CEO said that Homes.com’s ‘Your listing, your lead’ model is better for agents and consumers.May 2, 2023
- Homes.com making big strides in portal race, but Zillow dominatesCoStar’s investment in Homes.com appears to be paying off as the home search site boasts more than 100% year-over-year growth.April 29, 2023
- Lack of inventory put a damper on March pending home salesThe National Association of Realtors reported the first dip in pending sales since last November as inventory remains tight.April 27, 2023
- 50-year Arizona real estate veteran sees blue skies aheadBrokerage leader Bill Ryan, whose firm recently joined KW, has seen tremendous growth — and a few booms and busts — over his five decades in the industry.April 26, 2023
- New home sales gaining momentumThe latest U.S. Census numbers on new home sales illustrate an improving market for homebuilders, especially in the South.April 25, 2023
- Newer brokerages take top spots in Mega 1000 rankingsSeveral of the top brokerages in T3 Sixty's Mega 1000 list were founded after 2000, including top-ranking Compass.April 25, 2023
- Baird & Warner 'snowbird' agents can follow buyers to FloridaJeff and Joanne Collis, originally based in Illinois, have been building a business in Naples, Florida while also working on deals in the Chicago suburbs.April 22, 2023
- How one agent on Instagram created a $100M sales teamWith an Instagram following of 50,000 and nearly 60 sales so far this year, the Upstate Curious team is taking over the Hudson Valley.April 21, 2023
- Existing home sales dip a modest 2.4% in MarchHome sales fell only slightly between February and March, but the year-over-year picture illustrates a more significant drop.April 20, 2023
- Over half of millennials now own a homeMillennials hit a major homeownership milestone in 2022, but they’re more likely to own a home in the Midwest versus pricey cities on the coasts.April 19, 2023
- New construction slid in March, adding to inventory woesLow inventory has kept home prices high, and builders can’t deliver new homes fast enough to meet the demand.April 18, 2023
