Housing Wire

AUGUST 22, 2024

Seattle -based real estate brokerage Redfin imposed a new round of layoffs on Thursday, a development first reported by GeekWire. Amid the flurry of commission lawsuits across the country over the past year, brokerages like Redfin have restructured their compensation plans to retain existing agents and attract new ones.

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Brokerage Agents Development Sales 421

Housing Wire

OCTOBER 31, 2023

During their testimony, the home seller plaintiffs and their lead attorney Michael Ketchmark argued that despite the defendants having antitrust rules and regulations in place, the trade group and corporate brokerages knowingly violated their own rules in order to maintain high commission rates.

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Brokerage As-is Finance 545

Housing Wire

DECEMBER 19, 2024

As 2025 approaches, The Real Brokerage is heading into the new year with more growth-centered momentum. The digital brokerage platform announced another major affiliation this week to strengthen its presence in the luxury market. Real announced this week the affiliation of Urban Nest Realty , a Las Vegas -based brokerage.

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Brokerage Agents As-is Industrial 380

Housing Wire

SEPTEMBER 3, 2024

As it became clear that many real estate professionals are in need of guidance, brokerages and industry leaders have launched a variety of educational resources and training courses for agents and brokers. The webpage is open to agents across the industry regardless of their brokerage affiliation. In the days immediately following Aug.

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Brokerage Agents Industrial Branding 433

Housing Wire

AUGUST 15, 2024

The new rules mandated by the National Association of Realtors ‘ (NAR) settlement of class-action lawsuits related to buyer agent commissions take effect in just two days, and brokerages and MLSs are scrambling to find the best ways to implement them. Next week, the brokerage will offer daily interactive training and role-play sessions.

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Brokerage Agents Industrial As-is 444

Housing Wire

DECEMBER 4, 2024

While the commission lawsuits and the business practice changes outlined in the National Association of Realtors’ (NAR) settlement occupied notable portions of 2024 for The Real Brokerage , impressive organic growth is the firm’s true highlight of the year. I think 2025 is going to be another major growth year for us,” Poleg said.

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Brokerage Title Technology Agents 384

Housing Wire

AUGUST 5, 2024

Brokerage stocks were especially mixed. The Real Brokerage and Anywhere fell by 5.2% The global stock selloff that began overnight in Asia rolled through U.S. markets on Monday as the S&P 500 and the Dow Jones Industrial Average fell by 3% and 2.6%, respectively. We’d argue that U.S. loanDepot rose 2.3% RE/MAX shed 4.7%

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Brokerage Marketing Mortgages Technology 451

Housing Wire

JUNE 20, 2024

Michael Saleh, a former senior vice president of Rocket Mortgage who spent about two decades at the company, has transitioned from the retail lending channel to wholesale by launching independent brokerage firm Zoom Home Lending. “Rocket went public and the times have changed. Top leadership at Rocket is undergoing change. ”

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Lending Brokerage Loan Officer Loans 446

Housing Wire

OCTOBER 9, 2024

If commission rates drop significantly as a result of the National Association of Realtors antitrust lawsuit settlement, it’s potentially an existential threat to many brokerages. That’s because many large brokerages still pay for office space and middle management. But which ones and how many? asked AccountTECH CEO Mark Blagden.

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Brokerage Agents As-is Finance 398

Housing Wire

AUGUST 25, 2024

With technology changing faster than new agents answer phone calls, choosing the right real estate brokerage software can sometimes feel like a full-time job. Here’s why: Good software might help your brokerage stay afloat in a post-lawsuit market. The looming chaos from the commission lawsuits sure isn’t helping.

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Brokerage Branding Agents MLS 371

Housing Wire

OCTOBER 2, 2024

The brokerages and non-Realtor-owned MLSs that decided to opt in to the National Association of Realtors’ (NAR) commission lawsuit settlement agreement can breathe a sigh of relief. Through Bough’s approval, the MLSs and brokerages that opted in to NAR’s settlement have been added to the larger case. As expected, Judge Stephen R.

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Brokerage As-is MLS 409

Housing Wire

AUGUST 6, 2024

17 implementation deadline for these changes, brokerages like eXp are finding themselves sorting out their forms. As the largest brokerage in the country by transaction sides in 2023, Pareja said it made sense for eXp to create its own forms. And as the clock continues to count down to the Aug.

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Brokerage MLS Agents As-is 448

Housing Wire

AUGUST 23, 2024

Worth Clark operates in 18 states and is ranked as the 39th-largest independent brokerage in the country. But Michaelis also doesn’t believe that the settlement-mandated changes will affect what the brokerage does in the market. “I I think evidence can be seen in our transaction growth.

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Brokerage Property Management Agents Industrial 379

Housing Wire

APRIL 9, 2024

On Monday, the independent brokerage announced that it had acquired Springfield, Massachusetts-based Sears Real Estate. Lamacchia Realty is expanding its presence in the Pioneer Valley region of Massachusetts. Plus, we both recognized the important role that Realtors play in helping people achieve the American Dream.”

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Brokerage Branding Agents Sales 447

Housing Wire

SEPTEMBER 11, 2024

Velt starts the conversation by asking Carrion for background on his purchase of the brokerage. He plans to focus on M&A efforts with other brokerages, day-to-day sales, and the recruiting of new agents and other professionals to keep the momentum going. Carrion also leads the firm’s office sales and investment advisory group.

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Brokerage Commercial Agents Sales 400

Housing Wire

OCTOBER 28, 2024

The New York Times reported that Richard Ferrari, who previously managed Douglas Elliman’s brokerage sales and operations in New York and the Northeast, has been named CEO of Douglas Elliman Realty. Douglas Elliman continues to shake up its leadership team. According to the filing, Durkin was “terminated, effectively immediately.”

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Brokerage Investor Finance Agents 337

Housing Wire

AUGUST 12, 2024

Many brokerage firms are trepidatiously moving to a model with no cooperative compensation in light of the impending business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement. Peter Voss at 3% Listing Co. is wondering what took them all so long to make the switch.

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Brokerage Agents As-is Industrial 430

Housing Wire

OCTOBER 8, 2024

But as many as 200 real estate agents , brokerage firms and landlords are alleged to have violated this law by discriminating against applicants with federally subsidized Section 8 Housing Choice Vouchers, according to an undercover investigation conducted by the Housing Rights Initiative (HRI).

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Brokerage Land As-is Agents 444

Housing Wire

SEPTEMBER 18, 2024

Fathom Holdings , the parent company of Fathom Realty , has joined the list of corporate brokerages to settle the commission lawsuits. HomeSmart , Redfin , United Real Estate , Douglas Elliman , Realty One Group , At World Properties, Anywhere , RE/MAX , Keller Williams , Compass , HomeServices of America and The Real Brokerage.

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Brokerage Agents As-is Finance 360

Housing Wire

OCTOBER 31, 2024

Much to the relief of some of the nation’s largest brokerage firms, Judge Stephen R. million) , The Real Brokerage ($9.25 Similarly, The Real Brokerage settled with the Umpa plaintiffs in early April, prior to the consolidation. The Gibson defendants that now have final approval of their settlements are Compass ($57.5

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Brokerage Industrial Agents As-is 364

Housing Wire

DECEMBER 5, 2024

Processing is a big piece of what brokerages care about, so we have a copilot that we’re getting feedback on and plan to have six or seven copilots that will launch next year. We’ve trained our AI models to be extremely specific to help agents, brokerages and end customers as well. Sarah Wheeler: You founded MaxHome.AI in January.

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Brokerage Staging Industrial Agents 281

Housing Wire

OCTOBER 31, 2024

The family-owned brokerage firm announced the completion of two acquisitions on Wednesday. It has already been a busy week for Howard Hanna Real Estate Services (HHRES) and it is only Thursday. The financial terms of the deals are not being disclosed. The firm is led by Jeff Owens.

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Brokerage Agents Closing Sales 335

Housing Wire

DECEMBER 9, 2024

In this weeks episode of the RealTrending podcast , host Tracey Velt sits down with Portside Real Estate Group CEO Dava Davin to discuss the importance of buyer consultations, brokerage leadership styles and ancillary solutions for brokerage growth in 2025. Velt: You are the sole owner of the brokerage.

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Brokerage Title Industrial As-is 247

Housing Wire

OCTOBER 18, 2024

Real estate professionals will be looking to the recent decision in the Moratis commission lawsuit as they seek clarity on the outcomes of related cases. Despite other defendants trying and failing, Howard Hanna decided to file a motion to dismiss the Moratis case, formerly known as the Spring Way suit , filed late last year in Pennsylvania.

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Brokerage MLS Industrial As-is 352

Housing Wire

SEPTEMBER 9, 2024

added mortgage lending under its umbrella by acquiring mortgage brokerage company Be My Neighbor on Monday. Publicly traded real estate software firm reAlpha Tech Corp. reAlpha agreed to pay Be My Neighbor an aggregate purchase price of up to $6 million. This consists of $1.5 million in cash paid on the closing date, $1.5

Brokerage 360

Brokerage Mortgages Technology Branding 360

Housing Wire

SEPTEMBER 10, 2024

With competition for online leads heating up, we think AgentFire’s brand-first approach can be a game changer for brand-conscious agents, teams and even boutique brokerages. Users seem to agree; AgentFire is rated above 4.8 stars on every major review platform. per month for 5 users + $1200 setup fee Growth package: $699.95

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Brokerage Agents Branding Land 365

Housing Wire

AUGUST 26, 2024

Their brokerage firms, which rely on a split of those commissions for revenue, may also find themselves in a tough spot. Data from real estate accounting software provider AccountTech shows that brokerages with profit margins of 3% or less run the risk of falling into the red with even a minor decline in commission rates.

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Brokerage Agents Industrial Banks 497

Housing Wire

APRIL 16, 2024

Amidst this backdrop, brokerages face a critical task; keeping their agent counts from diminishing. The data spanning from 2009 to 2023 reveals a notable correlation between the total real estate transactions in the USA, termed national transactions , and the movement of agents between brokerages.

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Industrial Agents Brokerage Sales 455

Housing Wire

OCTOBER 9, 2024

In its race against other brokerages to add agents, eXp Realty has scored big in California. Prime Real Estate Team is leaving the white-label brokerage Side and taking its 21 agents to eXp. eXp is one of a few national brokerages that are adding agents and teams at a rapid pace.

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Land Agents Brokerage As-is 436

Housing Wire

JUNE 4, 2024

The recent announcement of Homie’s decision to strip its brokerage services and end employment for its real estate agents has once again brought the discussion of alternative models in real estate to the forefront. Many limited service brokerages have faced similar hurdles in their quest to disrupt the status quo.

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Brokerage Staging Industrial Technology 450

Housing Wire

DECEMBER 2, 2024

Ryan Serhant ’s eponymous brokerage has been in rapid growth mode this year following the success of the Netflix show “Owning Manhattan,” and now investors want in on the action. Technologies, the umbrella company that includes the brokerage — will be used to develop the company’s AI platform known as S.MPLE. Ryan and the SERHANT.

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Development Brokerage Technology Investor 359

Housing Wire

OCTOBER 15, 2024

This is especially true when various MLSs, brokerages and agents are taking their own approaches to dealing with the business practice changes. As Sharran Srivatsaa , the president of The Real Brokerage , sees it, there are two primary agent camps right now. Some of them are throwing hissy fits with this.”

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Brokerage Agents Industrial As-is 445

Housing Wire

MAY 7, 2024

With a 67% annual increase in agent count to 16,680 agents during the first quarter of 2024 , it is no surprise that The Real Brokerage also recorded an 86% annual increase in revenue to nearly $201 million. With Pro Teams, a team or brokerage firm is able to maintain its own internal economics and commission models. million.

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Industrial Agents Brokerage Title 455

Housing Wire

AUGUST 22, 2024

” The company noted that if it had “been allowed to compete with Defendants and their co-conspirators, it would have gained market share at Defendants’ expense while posing a competitive check on Defendants’ ability to charge exorbitant prices for brokerage services to consumers. .”

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MLS Brokerage Residential Technology 482

Housing Wire

JANUARY 18, 2024

The complaint names 35 entities as defendants, including the National Association of Realtors , local and national brokerages, MLSs and local Realtor associations. A copycat commission lawsuit has been filed in Los Angeles. It was filed on Wednesday in U.S. District Court in Los Angeles. 17, 2020, and the present.

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MLS Brokerage Agents As-is 490

Housing Wire

OCTOBER 21, 2024

In the suit, Homie claims it was harmed by the anticompetitive practices of NAR and the brokerage defendants. As a flat-fee brokerage, Homie charged sellers a flat fee to list their property on the MLS. But the defendants note that unlike the consumer-driven suits, Homie did not purchase brokerage services from any of the defendants.

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Brokerage MLS Agents Branding 414

Housing Wire

DECEMBER 23, 2024

Rocket Homes, Jason Mitchell, and JMG Holding Partners LLC (dba The Jason Mitchell Group), along with affiliated brokerages operating in 41 states and the District of Columbia, are named as defendants in the case, filed in the U.S. The accusation that homebuyers paid more when working with Rocket Homes is a lie.

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Brokerage Mortgages Agents Closing 412