BrokeragesCompass scoops up Tennessee’s top brokerageThe addition of Parks Real Estate and its 1,500 agents now makes Compass the biggest brokerage in the state.AJ LaTraceMay 14, 2024
BrokeragesERA president: To ‘accomplish really big things,’ you need a planAlex Vidal, who took the helm at ERA last June, thinks about real estate like he thinks about his athletic endeavors — you have to work through the challenges.Melanie KalmarMay 12, 2024
BrokeragesBrokerage Beat: News from Real, Portside, KWLargest Fort Worth independent chooses Real; New England's Portside Real Estate acquires boutique Maine firm; KW celebrates annual RED Day.Real Estate News StaffMay 11, 2024
Brokerages$17.8M settlement took a bite out of Douglas Elliman profitsThe company said despite the hit to its bottom line in Q1, the settlement will reduce uncertainties and let it focus on cost reduction and market expansion.Cheryl Reid-SimonsMay 10, 2024
BrokeragesCompass beats revenue expectations, adds agentsWhile revenue improved 10%, the company reported steep losses — but CEO Robert Reffkin was more focused on the future of buyer agents during the earnings call.Dave GallagherMay 8, 2024
BrokeragesRedfin: Revenue is up, Kelman is bullish despite lossesEven as net losses increase, Redfin’s CEO says the company is in a good place: “When you give people a better deal, they actually beat a path to your door.”Dave GallagherMay 7, 2024
BrokeragesReal Brokerage revenue up 86% as agent count soarsThe company remains on a rapid-growth trajectory, but net losses also increased this quarter, largely due to a recent commissions lawsuit settlement.AJ LaTraceMay 7, 2024
BrokeragesRedfin to pay $9.25 million to settle commissions casesThe company is the 10th brokerage to agree to pay into a settlement fund, which is approaching $1 billion.Dave GallagherMay 6, 2024
Brokerages‘Standing still is not enough’ says Anywhere’s Sue YannacconeYou may not have every answer — and legal threats still loom — but you must keep moving forward with consumers in mind, the industry leader advised her peers.Stephanie Reid-SimonsMay 5, 2024
BrokeragesBrokerage Beat: News from E&V, Corcoran, Side, Real, moreE&V opens in Mexico City; Corcoran gains 3 NFL pros; Side adds teams; largest woman-owned firm joins Real; William Raveis acquires S.C. indie; eXp Canada grows.Real Estate News StaffMay 4, 2024
BrokeragesRE/MAX sees dip in revenue, agents in first quarterFollowing a series of leadership changes, the company is focusing on cutting expenses as it navigates the tough real estate market.Dave GallagherMay 2, 2024
BrokerageseXp hopes to stem agent losses with rev share updatesDuring an earnings call, Glenn Sanford said he wants to help agents “in the middle,” while noting that revenue was up and touching on the commissions lawsuits.Dave GallagherMay 1, 2024
BrokeragesHomeServices faces new buy-side commissions suit in FloridaThe filing comes just days after the company settled similar cases brought by sellers. The firm maintains its practices were “lawful and procompetitive.”Cheryl Reid-SimonsMay 1, 2024
BrokeragesKW CEO on emerging from the wilderness, looking to the futureMark Willis returned to Keller Williams after a 7-year hiatus, and he’s ready to lead in a new way. “It’s not about proving myself. It’s about impact.”Dave GallagherApril 30, 2024
BrokeragesDouglas Elliman the latest firm to settle commissions lawsuitsThe brokerage becomes the ninth real estate entity to strike a deal with home sellers, with an initial damages payment of nearly $8 million.Dave GallagherApril 29, 2024
BrokeragesWilliam Raveis: ‘Pivot, innovate, downsize, upsize and lead through it’As his namesake firm celebrates 50 years, Bill Raveis says the key to surviving rough cycles is to look for opportunities and “figure it out.” Melanie KalmarApril 29, 2024
BrokeragesBrokerage Beat: News from E&V, BHGRE, @properties, Christie's, EXITE&V opens in Philly; BHGRE adds N. Dakota indie, secures renewal from top firm; @properties grows in Texas; Christie's enters Albania; EXIT adds 7 markets.Real Estate News StaffApril 27, 2024
BrokeragesHomeServices makes $250 million deal to settle commissions lawsuitsThe last defendant standing in the Sitzer/Burnett case reaches a whopping settlement that will protect its 70,000 agents plus brands and franchises.Dave GallagherApril 26, 2024
BrokeragesGlenn Sanford: ‘Our real goals are not domestic’During the T3 Leadership Summit, the eXp founder discussed some of his early challenges, the need for internal disruption, and his international ambitions.AJ LaTraceApril 25, 2024
BrokeragesAnywhere focused on cost-cutting as revenue holds steadyRevenue and agent count dipped slightly, but the company highlighted the strength of its Sotheby’s brand and its progress toward a $100 million savings goal.AJ LaTraceApril 25, 2024
BrokeragesRealty ONE, @properties reach settlements in commission casesThe brokerages are the first to settle following preliminary approval of the NAR agreement by a Missouri judge earlier this week.Dave GallagherApril 24, 2024
BrokeragesHome sellers make another bid for consolidation in MissouriPlaintiffs in Umpa and Gibson have asked the court to merge the two lawsuits. The antitrust cases cover similar ground and name several of the same defendants.Dave GallagherApril 22, 2024
BrokeragesBrokerage Beat: News from Real, Corcoran, C21, BHGRE, Sotheby'sReal nabs top Chicago team; Rabbitt Group forms at Corcoran Reverie; Baltimore indie joins C21; Oklahoma firm signs on with BHGRE; Sotheby's opens in Poland.Real Estate News StaffApril 20, 2024
BrokeragesKW still on the hook for spam calls, judge rulesA Pennsylvania judge concluded the brokerage company has personal jurisdiction in a telemarketing lawsuit involving agents from a franchise office.Dave GallagherApril 18, 2024
BrokeragesNo quick judgment for home sellers in commissions caseThe judge in Sitzer/Burnett declined the plaintiffs’ motion to enter a $5.4 billion award, saying other motions and settlements need to be finalized.Dave GallagherApril 15, 2024