How are agents paid? Don’t ask buyers
More than a quarter of consumers surveyed by Redfin don’t know how much their agent was paid, while nearly 20% weren’t sure who provided the compensation.
April 11, 2024
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.
- Investors feeling optimistic, buying record share of homesA pair of new reports look at the role investors played in the housing market last year and offer insights into their current outlook and pain points.April 9, 2024
- Beverly Hills agent and TV veteran remembered as ‘a force’Jennifer Berman most recently served as COO of Direct Offer and was a cast member on the CNBC series “Listing Impossible.”April 5, 2024
- Understanding online lead generation in the age of AIA new study from T3 Sixty and PrimeStreet surveyed brokerages on their lead-gen practices and use of online and AI tools. The latter has produced mixed results.April 4, 2024
- Compass acquires longtime New Orleans independent Latter & BlumThe acquisition of the century-old firm and its 3,100 agents could give Compass an edge in the NOLA and greater Gulf Coast market.April 3, 2024
- It's cheaper to rent than buy in nearly every big cityA new report from Realtor.com looks at the cost gap between renting and owning and finds that many markets are now significantly more favorable to renters.March 26, 2024
- NAR seeks to clarify commissions settlement detailsIn a call with media, NAR reps sought to dispel confusion and misinformation coming out of the March 15 settlement announcement.Updated April 12, 2024
- Strong reactions to NAR commissions dealOpinions on the settlement range from concern that it will “spell disaster” for buyers to optimism that the quality of agent services will improve.Updated March 19, 2024
- What agents need to know about commission rule changesAs a part of its proposed settlement, NAR agreed to significant policy changes that will impact how all agents do business — and how buyer agents get paid.March 15, 2024
- eXp paid out more than $230M in rev share and stock last yearIn a new compensation report, eXp said it paid agents and brokers nearly $198 million in revenue share and $34.7 million in EXPI shares.March 13, 2024
- Precarious post-verdict market, competition a threat to ZillowA Wall Street hedge fund manager is sounding the alarm on Zillow’s market dominance, suggesting that its revenue and traffic are at risk.March 6, 2024
- Latest filings in eXp case allege top execs put ‘profit over safety’In an amended complaint, plaintiffs in a sexual assault case describe the defendants’ roles in the misconduct and ask for a new trial date.March 4, 2024
- The 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.February 28, 2024
- A 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.February 26, 2024
- Former Zillow exec expands mortgage site Tomo into home searchCEO Greg Schwartz says Tomo will stand out by offering “negotiation insights,” which include personal information about home sellers.February 20, 2024
- Investors buying a bigger share of affordable homesWhile overall activity softened last quarter, real estate investors flocked to Chicago and cities in California in the hunt for lower-priced properties.February 16, 2024
- Anywhere revenue took a hit in Q4, dipped 18% in 2023Net losses for the year improved, however. CEO Ryan Schneider pointed to debt reduction and settlements as wins, and spoke favorably about buyer agreements.February 15, 2024
- The real estate companies going all in on Super Bowl SundayHomes.com will run three new ads during the big event while Opendoor will livestream a real homeowner doing a virtual walkthrough during halftime.February 7, 2024
- NAR ends January with 1.515 million members, a loss of 38kThis marks the third straight month with a drop, but the association’s chief economist said membership is “holding on much better than market dynamics suggest.”February 5, 2024
- Redfin sweetens the deal for buyers who sign agreementsThe new “Sign & Save” program offers buyers a rebate if they sign a buyer agreement with Redfin and go under contract on a home within six months.February 2, 2024
- Mortgage rates dip slightly as Fed continues its pauseRates have remained relatively stable since December, with the average 30-year mortgage rate posting a modest decline this week.February 1, 2024
- Home prices continued to rise in NovemberPrices improved 5.1% annually, the latest Case-Shiller report indicates, but a small dip between October and November ended a streak of monthly gains.January 30, 2024
- Offerpad providing new incentives for agents who bring clientsThe iBuyer has introduced two new tiers in its agent partnership program, which provide up to 4% in referral fees and access to more sell-side deals.January 29, 2024
- Layoffs at eXp? 35 employees ‘venturing into new opportunities’In a LinkedIn post, eXp’s EVP of People implied that nearly three dozen people had been laid off. The company later acknowledged "a small reorganization."Updated January 26, 2024
- Pending home sales see healthy bump after record lowsThe uptick in pending homes is a “promising” sign of life in a market that has been sidelined by low inventory and high home prices.January 26, 2024
- Existing home sales haven't been this low since 1995According to the latest NAR data, just 4.09 million existing home sales were reported in 2023, the lowest number in nearly three decades.January 19, 2024
- Empty nesters are holding on to their big homesBaby boomer households without children own nearly 3 in 10 homes with 3+ bedrooms — millennials with children own half that amount.January 16, 2024
- Real gets into the ‘brokerage as a service’ businessThe brokerage’s new Private Label initiative gives teams access to Real’s platform and revenue sharing model while maintaining their independent brand.January 10, 2024
- Home price index up more than 5% in NovemberAccording to the latest CoreLogic report, the Midwest and South saw the highest home price growth, and a handful of states posted double-digit gains.January 9, 2024
- SP 200: Real estate’s top leader, and a demographic shiftAnywhere’s Ryan Schneider has been named the most powerful person in this year’s rankings of residential real estate’s movers and shakers.January 9, 2024
- Buffalo is best in 2024, but the Buckeye State dominatesZillow predicts some of the hottest markets for price growth and home sales will be those in the Great Lakes region, with three Ohio cities in the top 10.January 4, 2024
- Zillow suing ARMLS and Metro MLS over ShowingTime accessZillow Group alleges that the MLSs and the MLS Aligned network are participating in anticompetitive practices by limiting member access to ShowingTime.December 27, 2023
- Home sales up after 5 months of declinesBefore making a small gain in November, existing home sales had been on a downward trajectory since July.December 20, 2023
- Zillow users loved small Northeastern towns this yearSmall cities in New Hampshire and Connecticut dominated the search portal's most popular markets for 2023.December 19, 2023
- Jason Gesing steps away from eXp boardThe former eXp CEO is resigning from the company’s board and reported selling 60,000 shares of company stock last week.December 18, 2023
- What happens with mortgages if there’s a recession?Even if the hoped-for economic “soft landing” isn’t so soft, don’t expect to see a wave of short sales and foreclosures next year.December 18, 2023
- New details in eXp sexual assault claims revealed by New York TimesFive women told the Times that it took a lawsuit to get action on predatory behavior. A second lawsuit has been filed, and eXp said that it let “bad actors” go.December 15, 2023
- EasyKnock accused of deceptive practices, hit with fineThe Massachusetts attorney general claimed the "buy-before-you-sell" company targeted financially strained homeowners through its sale-leaseback program.December 12, 2023
- The Ten: Looking back on a year of mortgage rate madnessWhile high borrowing costs brought the market to a halt in 2023, there are signs that mortgage rate relief is coming in 2024.December 12, 2023
- KW Command updates include generative AI copywriting for adsKeller Williams also announced automated market snapshots and additional features as its CRM platform joins others in adding ChatGPT-powered capabilities.December 6, 2023
- Seattle-area brokerage quits NAR, on ‘right side of the story’Coldwell Banker Danforth broker/owner says he’s not against NAR, but that he wants agents to be able to decide for themselves if they join or not.December 4, 2023
- Pending home sales drop to lowest level on recordNationally, pending sales slid 1.5% in October as mortgage rates spiked and buyers retreated.November 30, 2023
- Zillow facing a ‘battle of the titans’ in 2024With Homes.com in investment mode, Realtor.com and Redfin are reshaping themselves in pursuit of the top spot among home search portals, T3 Sixty experts say.November 29, 2023
- NAR shines a light on ‘cultural transformation’The themes of diversity, equity and inclusion were present throughout last week’s NAR NXT conference.November 24, 2023
- Existing home sales take biggest hit of the yearOctober home sales slid 4.1%, representing the steepest single-month decline in 2023 so far.November 21, 2023
- We want to be No. 1 with ‘no tricks,’ Realtor.com CEO saysIn response to Homes.com’s huge traffic growth, Damian Eales said “poor-quality audience and stunts lead to low-quality leads.”November 17, 2023
- Commissions battle ‘far from over’ says NAR presidentDuring her NAR NXT keynote, Tracy Kasper tackled the big issues facing the association, including the Sitzer/Burnett verdict and sexual harassment accusations.November 14, 2023
- eXp 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.November 8, 2023
- Zillow 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.November 7, 2023
- Post-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.November 7, 2023
- Will 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.November 3, 2023
- eXp 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.November 3, 2023
- New home sales climb as prices fallThe median sale price for new homes dropped more than 12% in the last year, while sales shot up, outpacing inventory.October 25, 2023
- Redfin Max to offer LA, SF agents a richer commission split“We want to set up agents to be million-dollar producers” and remain W-2 employees, Jason Aleem, Redfin’s SVP of real estate operations, told Real Estate News.October 25, 2023
- 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
- 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
- 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
- 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 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
