Industry3 things to know about REX’s lawsuit against ZillowWhen the case goes to trial next month, NAR policies on IDX feeds — which Zillow began using in 2021 — could be put to the test.Dave GallagherAugust 14, 2023
BrokeragesIndustry moves quickly to support Maui relief effortsAs the wildfire death toll rises, Keller Williams, eXp and others connect with agents, raise money and even turn an office into an emergency “command center.”Cheryl Reid-SimonsUpdated August 14, 2023
BrokeragesBridgemarq returns to profitability, but income down 90% from 2022The Canadian brokerage giant saw a much smaller drop in revenue, and agent count increased slightly.Cheryl Reid-SimonsAugust 12, 2023
MLS/AssnAgents scramble as cyberattack freezes MLSs nationwideMLS system provider Rapattoni has been down since midweek, leaving tens of thousands of agents unable to add listings and update information.Cheryl Reid-SimonsAugust 11, 2023
BrokeragesBrokerage Beat: News from E&V, Christie's, eXp, moreE&V opens new shops in SW Florida, Atlanta; Caribbean firm joins Christie's; eXp gains 82-agent team; Premier Sotheby's hires managing broker; more.Real Estate News StaffAugust 11, 2023
BrokeragesDouglas Elliman still sees hope in luxury after a tough Q2The company reported significant year-over-year declines, with revenue taking a nearly 25% hit — but numbers were much improved over Q1.Cheryl Reid-SimonsAugust 11, 2023
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