ATTOM’s latest second quarter 2024 Vacant Property and Zombie Foreclosure Report showed that there are nearly 1.3 million vacant residential properties in the U.S—the same as the first quarter of 2024. The report also indicated that 237,208 residential properties nationwide are in the process of foreclosure in this year’s second quarter, down 2.3% from Q1,… […]

Above, Jason Mitchell Forget the traditional real estate agent model. The Jason Mitchell Group has built a different kind of brokerage with strategic referral partnerships at its center. In the process, JMG is scaling its growth, redefining the agent-client relationship and showing why its model is the real estate brokerage of the future. The real… […]

Two of the nation’s fast-growing REALTOR® associations have announced that their members voted and approved a unification that forms the third-largest local REALTOR® association in Florida, and the sixth-largest association in the nation. The Pinellas REALTOR® Organization (PRO/CPRO) and Greater Tampa REALTORS® (GTR) will merge to become Tampa Bay REALTORS® (pending NAR approval), serving over… […]

Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. –Mortgage rates ticked back up above 7% after weeks of declines, according to the latest data from Freddie Mac. The 30-year fixed-rate mortgage (FRM) averaged 7.03%, up from 6.94% last week, and the 15-year FRM… […]

When two competing corporations face off aggressively and publicly, it can often make for great theater, which is what’s happening in the residential real estate realm. Realtor.com® and Homes.com have taken to launching broadsides at each other as the two portal giants battle for second place behind Zillow for home-search site-traffic supremacy. But as with… […]

The personal consumption expenditures (PCE) price index increased 0.3% in April, the Commerce Department reported on May 31, matching a similar gain in March. It’s not a wholly positive sign for those hoping that the U.S. central bank will cut interest rates soon, as it suggests the elevated pace of price increases could last longer… […]

It’s no question that affordability is stratified, and as such, housing markets tend to differentiate from state to state. According to a recent analysis by Clever Real Estate, the median household can only afford the typical home in four states: West Virginia, Ohio, Iowa and Indiana. The latest homeowner affordability data is based on the… […]

While finding buyers and sellers who are ready to get off the sideline is the ultimate goal for real estate professionals who are looking to keep their pipeline full, there’s no shortage of strategies that can be employed to generate new revenue and grow your business as the busy summer selling season heats up. Become… […]

In the high-stakes world of real estate—where clarity, courage and stamina are indispensable—sleep is not merely a pause from our busy schedules but a vital investment in our health and professional prowess. Vince Lombardi’s words, “Fatigue makes cowards of us all,” resonate deeply here. As I emphasize in my mindset routine talks covering the pillars… […]

Beyond the policy changes required by the NAR settlement, Bright MLS has announced a set of system changes to ease subscriber use to help them navigate through the upcoming new normal. Similar to CRMLS’ newly announced system field changes referring to Concessions in Price, Bright has announced that they will be including seller concessions in… […]

It’s hard not to sympathize with the current plight of homebuyers—particularly the younger generation attempting to break into the market. Along with broader systemic pressures like stagnating wages and crippling student loan debt, young people trying to enter the housing market are facing stiff competition, dwindling affordability and a lack of inventory (in most regions).… […]

After three weeks of declines and a dip below 7%, the 30-year fixed rate mortgage average ticked back up this week to 7.03%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday. This week’s numbers: The 30-year FRM averaged 7.03 percent as of May 30, 2024, up from last week… […]

According to the National Association of REALTORS®’ (NAR) latest report, pending home sales fell 7.7% in April. All four U.S. regions posted month-over-month and year-over-year decreases, and pending contract transactions were also down 7.4%. “The impact of escalating interest rates throughout April dampened homebuying, even with more inventory in the market,” said NAR Chief Economist… […]

Above, Jason Haber Late last year, when the National Association of REALTORS® (NAR) found itself having to deal with all kinds of negative leadership issues and odd occurrences, and then, of course, the Burnett trial, two prominent real estate professionals, Jason Haber and Mauricio Umansky, decided there might be a better way. So they created… […]

In Nashville’s bustling real estate scene, Kayla Palmer—a REALTOR® at MW Real Estate Co.—emerges as a steadfast advocate for her clients. Originating from Mississippi, she’s woven herself into Nashville’s fabric over the last five years, leveraging her background in people management and process improvement.  Passionate about inclusivity, Palmer highlights the evolving role that women play… […]

JPAR® announced a new addition to its affiliate network: Raintown Realty, a real estate brokerage based in Bellevue, Washington. The firm brings a wealth of expertise and a strong commitment to excellence in serving clients across King, Pierce, and Snohomish counties.  Under the leadership of Robert Ott, CRGO, designated broker, JPAR stated that Raintown Realty… […]

It’s not a buyer’s market in residential real estate right now—and many buyers are dropping out in the face of unfavorable market conditions.  Bright MLS (covering the mid-Atlantic) has published its latest member survey results for May 2024. The survey surmises consumer behavior from agent/broker responses, and the results are eye-catching. Of the buyer agents… […]

California Regional MLS (CRMLS), the country’s largest MLS—home to over 110,000 members—is launching a new set of MLS system fields referring to Concessions in Price (CiP) today. The fields promise to enhance communication between listing and buyer agents, as well as homebuyers, by providing “up-front” information surrounding concessions, according to a release from CRMLS. Concession… […]

eXp Founder and CEO Glenn Sanford and his company have been dropped—at least temporarily—from one of two pending lawsuits that claim the company and top executives were complicit in an alleged drugging and sexual assault committed by two top recruiters. Judge Andre Birotte, in a ruling issued last week, ruled that plaintiffs in the case… […]

Century 21 Scheetz—a top 5 company in the national Century 21 system and the brand’s number one company in Indiana—welcomes Adam Bauer as the brokerage’s new vice president of Marketing. With over a decade of strategic marketing expertise, Bauer brings his industry knowledge to help fuel growth and continue to strengthen the Century 21 Scheetz… […]

Forbes Global Properties held its second annual European Regional Meeting at Portugal’s exclusive Quinta do Lago Resort. Chair Matt Beall and Board Directors Quentin Epiney and José Ribes Bas welcomed broker owners and management associates from 21 countries and regions for two lively days of discussion, collaboration, and information exchange, as well as property tours… […]

Dermot Buffini, CEO of renown real estate coaching firm, Buffini & Company, will deliver a powerful opening keynote address, “Leading Above the Line to Grow Your Bottom Line,” when he kicks off RISMedia’s 36th Annual CEO & Leadership Exchange, taking place Sept. 4-6 at the Mayflower Hotel in Washington, D.C. Click here to register now!… […]

With many Burnett copycat suits resolved or on a path to resolution due to a settlement agreement struck by the National Association of REALTORS® (NAR), one class-action lawsuit appears to be on a different, more contentious path. The unique New York City real estate landscape is central to an ongoing battle between plaintiffs and a… […]

As rates jumped back up above 7% last week, mortgage applications decreased 5.7%% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 24, 2024. This week’s data: The Market Composite Index, a measure of mortgage loan application volume, decreased 5.7% on a… […]

Equity Angels—a social impact organization dedicated to fostering fair access to innovation and opportunity—has named its 2024 cohort for its first-ever accelerator program. Upfront provides innovative financial solutions for agents and brokers, The Studio Home leverages Web3 visualization for curated home furnishings, Maverick Systems optimizes big data analytics for agent acquisition and retention, and Billions… […]

Do you know a new agent who is achieving extraordinary results in their rookie year? RISMedia’s third-annual 2024 Real Estate Rookie of the Year contest is accepting nominations, and now is your chance to recognize a real estate rookie!  Nominations may be submitted here. Deadline ends 11:59 p.m. on Wednesday, June 5. RISMedia’s Rookie of… […]

Longtime Homes.com President David Mele has officially parted ways with CoStar Group. Mele had previously hinted at an upcoming career move in recent conversations with RISMedia, indicating that he would be taking some time off before pursuing his next role. He reported to real estate trade media last week that this role will not be… […]

The 22nd anniversary of my real estate license passed a few weeks ago. Ooh Rah! (Sorry. My military is showing.) While I have had a license for that many years, I have been involved in real estate since 1988. That’s when I purchased my first rehab property—36 years ago.  In the 14 months before obtaining… […]

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.5% annual gain for March, the same increase as the previous month. The 10-City Composite saw an increase of 8.2%, up from an 8.1% increase in the previous month. The 20-City Composite posted a slight year-over-year increase… […]

Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. This week saw previously decided matters on the legal side of the real estate world revived, with the National Association of REALTORS® (NAR) arguing against the renewal of investigations and suits against itself.… […]

National Association of Home Builders (NAHB) and Wells Fargo have released a new quarterly Cost of Housing Index that underscores the housing affordability crisis in America. The report revealed that in Q1 2024, 38% of a typical family’s income was needed to make a mortgage payment on a median priced new single-family home in the… […]

Consumers are experiencing conflicting feelings about the economy as differing reports come in from The Conference Board and University of Michigan, with a more positive assessment of the current business climate clashing with renewed worries about inflation. Consumers’ confidence reversed course and saw an increase in May after three months of decreases, according to the… […]

Bringing positive housing news to both sellers and buyers in one of New York’s priciest areas, housing prices and inventory are both up over last year, according to the latest market report from OneKey MLS, which covers transactions from Montauk to Manhattan, north through the Hudson Valley and the Catskill Mountains.   OneKey’s latest data… […]

The winning formula to build and scale a successful real estate team in today’s market requires several must-haves, including a positive culture, a powerful marketing reach, effective communication and more. Here are 10 top habits of high-performing real estate teams to consider if you’re looking to form a team.  Prioritize team culture A strong culture… […]

Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. -Leadership at Fannie Mae is highlighting the use of AI as a possible way to “get out of repurchases altogether,” according to National Mortgage News. At a Mortgage Bankers Association (MBA) conference last week, executives… […]

Special assessment and property taxes are crucial to a city or town’s revenue system. They fund local services and infrastructure improvements. My comparative analysis will clarify their differences and guide property owners on their impact. In this article, you will learn the following: What special assessment taxes and property taxes ar How these taxes differ… […]

Calling it an “unexpected windfall” of both lower rates and increased inventory of new and existing homes, Freddie Mac’s data showed the 30-year fixed-rate mortgage (FRM) averaging 6.94% this week, down from 7.02% last week and marking its third-straight week of declines. The data is tracked weekly in Freddie Mac’s Primary Mortgage Market Survey® (PMMS®),… […]

The real estate industry is undergoing a seismic shift as traditional brick-and-mortar brokerages lose ground to modern, digitally-driven competitors. As real estate strategist Mike DelPrete points out, 2023 transactions were down 19% compared to the previous year. Still, tech-centric firms like eXp Realty, Compass and Keller Williams outperformed the market.  The Real Brokerage grew its… […]

After a 40-year career marked by what the company notes as his “unwavering dedication and visionary leadership,” John Collopy, founder and owner of RE/MAX Results, has announced his retirement. The company notes that Collopy has been instrumental in shaping the brokerage into one of the leading firms in the country. A release notes that Collopy… […]

Across the U.S., sales of single-family homes declined 4.7% to a seasonally adjusted rate of 634,000 in April, and overall sales were down 7.7% year-over-year, too, according to data released by the U.S. Census Bureau. Delving deeper, the median sales prices of new homes sold in April was $433,500, down 1.4% from March, though still… […]

Anywhere Real Estate hosted its Making Moves that Matter: A Week of Empowering impact event series this week. The event series is designed to explore the connection between inclusion and business results, with a focus on the impact every individual can make on the real estate industry and the world at large. Anywhere stated that… […]

RISMedia’s Rookie of the Year contest is back, honoring agents who are new to the business yet achieving extraordinary results. Now is the time to nominate a 2024 Real Estate Rookie of the Year!  Nominations may be submitted here. Deadline ends 11:59 p.m. on Wednesday, June 5. RISMedia’s Rookie of the Year program, sponsored by… […]

Editor’s Note: The Buyer-Agent Playbook is a new iteration of RISMedia’s biweekly Playbook segment, specifically centering on buyer agency and how agents are navigating the changes and trends in a post-NAR-settlement environment. The series will provide brokers and agents with insights and information to ensure they not only survive but thrive in these challenging times.… […]

The latest research from the Fannie Mae Economic and Strategic Research (ESR) Group suggests that earlier projections for lower mortgage rates in late 2024 will not pan out.  The ESR Group forecasts overall economic growth to slow and mortgage rates to end the year near 7%. Should mortgage rates remain elevated, the latest data suggested… […]

Above, from left, Heather Grant Murray, Jack Brown and Mandy Caruso RE/MAX Beacon of Essex County, Massachusetts has announced the brokerage has acquired three RE/MAX 360 offices, located in Marblehead, Beverly and Gloucester. More than 20 agents and staff members joined the RE/MAX Beacon company as part of the acquisition, which was finalized in early… […]

Above, Brad DeVries Like many of his colleagues and counterparts across the nation, Brad DeVries—president and CEO of HUFF Realty, Rector Hayden REALTORS® & Semonin REALTORS®, Berkshire Hathaway affiliates serving Kentucky, Indiana and Ohio—is laser-focused on successfully navigating a market defined by constricted inventory and high interest rates.  Continuing to emerge from a distressed economy,… […]

Thanks to the recent declines in average mortgage rates of late, mortgage application activity has seen a small but steady increase for the third-straight week. This week, applications are up 1.9% from last week’s slight uptick of 0.5%, according to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association’s (MBA) for the week… […]

The U.S. Department of Veterans Affairs (VA) plans to issue a circular before June 12 in the wake of the National Association of REALTORS®’ (NAR) historic settlement, with hopes to “bridge the gap” on the buyer commission prohibition between buyers agents and veterans. Department of Veterans Affairs Deputy Director for Policy Michelle C. Corridon announced… […]

Existing-home sales receded in April, according to the National Association of REALTORS® (NAR) latest report, released May 22. All four major U.S. regions posted month-over-month declines. Year-over-year, sales decreased in the Northeast, Midwest and South but increased in the West. Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—slid 1.9% from March… […]

In April, median rent prices dropped yet again nationwide, down 0.7% for most properties, with three major metros—namely, Austin, Texas; Las Vegas, Nevada; and San Francisco, California—seeing prices fall compared to each city’s individual peak, according to the latest Realtor.com® rental report. In contrast, rent in Indianapolis, Milwaukee and Minneapolis reached new highs. “In the… […]

With low inventory having hamstrung the residential real estate industry over the last year or so, some potentially problematic houses might gain traction with homebuyers. Agents would be wise to keep track of homes that many people would not be very interested in if the market were more normal. But, alas, it is not normal,… […]

JPAR® has been recognized as a 2024 Top Franchise for Diversity, Equity, and Inclusion by Entrepreneur. This accolade underscores the company’s commitment to promoting a culture of openness and an organization committed to mirroring the communities served among the network of franchisees, staff and agents. Entrepreneur’s ranking system for this award category is distinctive, relying… […]

This week finds me once again in the familiar setting of my home office, where I began Monday with my usual WIG calls, continuing the tradition of starting my week focused and connected. These regular WIG calls, simple as they may seem, are much like the ‘small wins’ highlighted in leadership studies. Each call, a… […]

Real Estate Webmasters has announced the launch of the new Parks Realty website, www.parksathome.com. This state-of-the-art platform is designed to enhance the real estate experience for clients and agents in the Middle Tennessee area. Parks Realty, a locally owned company with over 49 years of experience, stated they are known for their commitment to client… […]

Harry Norman, REALTORS has announced that company real estate professionals have been nominated in 24 of the 35 categories for the Interiors Atlanta 2024 Real Estate Awards, including “Industry Icon,” “Top Industry Newcomer,” and more. The announcement was made in the latest issue of Modern Luxury Interiors Atlanta (Volume 2). The Interiors Atlanta 2024 Real… […]

ERA Carroll Realty, based in Sheridan, Wyoming, has acquired Buffalo Realty in Buffalo, Wyoming, which is now doing business as Buffalo Realty ERA Powered. The move connects two important markets serving the Big Horn Mountain region, increasing ERA Carroll Realty’s service area and market share.  Buffalo Realty ERA Powered’s clientele buy and sell a variety… […]

Above, Heather McColaugh, Eric Landry Back for its third year, RISMedia’s Rookie of the Year contest honors agents who are new to the business yet achieving extraordinary results. And now is the time to nominate a 2024 Real Estate Rookie of the Year!  Nominations may be submitted here. Deadline ends 11:59 p.m. on Wednesday, June… […]

Most people want to date before becoming exclusive, and the same goes for hiring a real estate agent, per Zillow. Last month, the company unveiled a short-term touring agreement to get ahead of the buyer-agency agreement stipulation in the proposed NAR settlement—and has now shared additional details with RISMedia. Long-term exclusive agreements from the get-go… […]

Antitrust regulators at the Department of Justice (DOJ) appear unsatisfied with the agreement struck between the National Association of REALTORS® (NAR) and plaintiffs in commission lawsuit class-actions, with a DOJ lawyer saying explicitly that they do not want any offers of compensation made by seller agents to buyer agents At a court hearing today in… […]

Rising interest rates might be sidelining would-be homebuyers, but the ongoing shortage of inventory on the market is keeping home prices elevated. That’s why U.S. homeowners now have a record $11 trillion in tappable equity as of March, according to the May ICE Mortgage Monitor Report. Home-price growth eased slightly in March by 5.6%, compared… […]

United® Real Estate has announced a merger in its Alabama operations and the expansion of its service footprint. Matlock Realty Group has joined Leading Edge Real Estate Group, growing the brokerage to over 300 agents who are now serving all of Alabama.  This move follows its 2023 merger with Revolved Realty, a release noted. In… […]

The National Association of REALTORS® (NAR) is appealing a recent court decision that allowed federal antitrust investigators to re-open their inquiry into real estate rules and practices, making another push to stymie potential further efforts by regulators to alter policies foundational to the industry. Filed late yesterday in the D.C. Circuit Court of Appeals, NAR… […]

In a real estate transaction, a Use and Occupancy Agreement (U&O) presents a unique solution for buyers and sellers under certain circumstances. This agreement allows a buyer to use and occupy the property before closing the sale. Conversely, it can enable a seller to continue occupying the property post-sale. I will examine the benefits and… […]

Above, Ivan Chorney, left, and Michael Martirena Founded by Ivan Chorney and Michael Martirena in 2015, the Ivan and Mike Team is a top-performing real estate group in South Florida that provides concierge-level service backed by in-depth market knowledge and integrity. Their success over the years has allowed them to grow to include 10 additional… […]

Editor’s Note: The RISMedia series, Legislative Round-Up looks at pending and passed federal and state-level legislation that impacts real estate professionals. Supreme Court rules in favor of Consumer Financial Protection Bureau On Thursday May 16, 2024, the U.S. Supreme Court overruled a challenge to the constitutionality of the Consumer Financial Protection Bureau (CFPB).  The Consumer… […]

Forbes Global Properties has announced the addition of Roula Rouva Real Estate to its ranks. Boasting more than 20 years of industry leading experience, Roula Rouva Real Estate will exclusively represent the brand on the sun-kissed islands of Corfu and Paxos, and throughout Greece. Founded in 2003, Roula Rouva Real Estate stated they are recognized… […]

Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. With time ticking away on several major deadlines—most significantly, the August 17 implementation of mandatory buyer agreements and removal of compensation from the MLS—brokerages and real estate business leaders continue to face tough… […]

Bright MLS has announced a collaboration with TrustFunds to integrate electronic earnest money services into the Bright MLS platform. As the real estate landscape continues to evolve, the demand for streamlined, secure and convenient transaction processes have never been more apparent, and this collaboration aims to enhance the transaction experience for real estate agents, brokers… […]

RE/MAX has published its latest monthly report tracking updates to the national housing market (based on survey results of 50 metro areas). The report goes up to April 2024, which a press release noted is often the beginning of a summer pick-up for home sales. RE/MAX’s findings indicate this April won’t be any different. RE/MAX… […]

Above, Morgan Carey Celebrating 20 years of excellence, Real Estate Webmasters has spent the past two decades serving the real estate industry, adapting to changes and staying true to their commitment to delivering exceptional service. Having become a force in the real estate industry over the last 20 years, Real Estate Webmasters has consistently raised… […]

Keller Williams announced today it is backing down on planned changes to profit sharing that sparked numerous lawsuits by former agents, allowing people who “vested” in the company’s revenue share program to continue receiving their full payments even if they affiliate with a competing brokerage. In a statement, Keller Williams President and CEO Mark Willis… […]

Stellar MLS is hosting “Elevate”—an innovative real estate event for industry professionals featuring top-tier vendors, informational sessions and networking opportunities—May 23 in New Smyrna Beach. Hundreds of agents, brokers and other industry professionals from Volusia, Flagler, Orange and Osceola counties, and other areas, are expected to attend Elevate, which will be held from 9 a.m.… […]

United® Real Estate has announced its promotion of Leigh Ann Bogran to the position of vice president of operations. Bogran joined the team two years ago as director, strategic project management. In her previous role, she spearheaded operational and enterprise-level programs and services for United’s agents and brokerages.  Bogran has 15 years of experience in… […]

Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. The Consumer Price Index (CPI) released by the U.S. Bureau of Labor Statistics showed an increase of 0.3% in April on a seasonally adjusted basis, after rising 0.4% in March. Bright MLS Chief Economist Dr.… […]

A total of 31,649 properties had foreclosure filings—default notices, scheduled auctions or bank repossessions—in April 2024, according to the latest data from ATTOM. ATTOM’s Foreclosure Market Report for April 2024 found that foreclosure filings were down 4% from a month ago, and down 4% from a year ago. On the other hand, the report found… […]

The Conference Board Leading Economic Index (LEI) for the U.S. decreased 0.6% in April to 101.8, after decreasing 0.3% in March. Over the six-month period between October 2023 and April 2024, the LEI contracted 1.9%—a smaller decrease than its 3.5% decline over the previous six months. “Another decline in the U.S. LEI confirms that softer… […]

Overlooked in the national scramble to address the National Association of REALTORS®’ (NAR) settlement, and comprehend (or decry) all the changes that are coming to the industry, is the foundational truism that applies to every facet of real estate: that it is local. Just like with every other issue, every region and even every state… […]

Above, from left, Elias Astuto, Riezl Baker, Keith Robinson and Maureen Sullivan In the wake of the National Association of REALTORS®’ decision to settle commission lawsuits, the real estate industry is bracing for a new reality. Rather than clinging to how things were before, we asked some of our 2024 Real Estate Newsmakers the following… […]

You don’t have to like it. But you can only hate it for so long. More than two months after the National Association of REALTORS® (NAR) announced it was paying $418 million and making long-resisted changes to MLS policy and compensation, brokers and MLS leaders are still seeing that anger in the real estate community.… […]

Escrow holdbacks and repair escrows are common tools in real estate transactions, used to facilitate smooth property transfers under certain conditions. These financial arrangements help manage and mitigate risks associated with property conditions at closing. I will clarify the distinctions and similarities between escrow holdbacks for repairs and other types of escrow accounts. You will… […]

In an unexpected move last week but made public May 16, Christy Budnick announced that she was stepping down June 3 as CEO of HSF Affiliates, the franchisor of Berkshire Hathaway HomeServices (BHHS). The company said that Gino Blefari would return as CEO of HSF Affiliates, adding to his position as CEO of HomeServices. Additionally,… […]

The 30-year fixed-rate mortgage (FRM) averaged 7.02% this week, down for the second week in a row from last week’s 7.09%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac released Thursday. This week’s numbers:  The 30-year FRM averaged 7.02% as of May 16, 2024, down from last week when it averaged… […]

With the U.S. still experiencing a housing shortage due to construction halts from the COVID-19 pandemic, housing completions, and starts, should continue to push positive, as each showed true in April—and the need for housing remains everlasting. According to data released by the U.S. Census Bureau, housing starts reached a seasonally adjusted rate of 1.360… […]

Editor’s Note: This article was originally published on May 9, 2024.  As we approach Mother’s Day this Sunday, I want to express my profound respect and admiration for all mothers—those who are planning to start families, those eagerly anticipating the arrival of their children, those who are navigating the early days of motherhood, and those… […]

As the adage goes, the only thing constant is change. But what if embracing change becomes the new constant?  I firmly believe change is good. To grow, it is important to not only welcome change but to use it to inspire opportunities to evolve and innovate. Yet, equally as important, as we prepare for what… […]

Above, Michele Harrington speaking at last year’s 2023 RISMedia Power Broker Forum in Anaheim, California. Editor’s Note: The historic events taking place in the real estate industry over the last year, including the commission lawsuits, Burnett/Sitzer case, the NAR and real estate brokerage settlements and how the industry will evolve and thrive in the new… […]

Above, Filippo Incorvaia and Sarah Close When real estate professionals, and anyone else for that matter, look back on what happened within the residential real estate industry during 2023-24, normally vital measures such as mortgage rates and number of homes sold will not just take a back seat to the legal issues that have dominated… […]

Colette Stevenson is CEO of REsides, an innovative Multiple Listing Service (MLS) model that ensures equitable ownership for all stakeholders. Dedicated to empowering brokers and agents with actionable data, she strives to provide value beyond industry conventions.  “I believe that MLSs have a huge opportunity to get close to their customers in the midst of… […]

Reliance has announced its newest partnership with Intero Real Estate Services: designing and launching the Northern California-based real estate company’s new website, which includes a Hyperlocal MLS search experience.  “It is a true honor to partner with a company like Intero whose name has become synonymous with the top agents in the business,” said Sean… […]

Above, Sarah Hatch Sarah Hatch  Vice President of Relocation Lamacchia Realty Waltham, Massachusetts https://www.lamacchiarealty.com  Region served: Massachusetts, New Hampshire, Rhode Island, Connecticut, Maine and Florida Years in real estate: 8 Number of offices: 14 Number of agents: 500 Motto/work philosophy that you live by: If you want it, work for it. Describe your journey with… […]

In a high price market like the one real estate has seen for the past few years, many homeowners have seen a jump in their home equity. So, while home sales have been mostly down, home equity loans have not seen the same decrease.  Homeowners looking to borrow against their home equity have never had… […]

Mortgage applications saw a slight increase of 0.5% from last week’s bump of 2.6%, according to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association (MBA) for the week ending May 10, 2024.  This week’s numbers:  The Market Composite Index, a measure of mortgage loan application volume, increased 0.5% on a seasonally adjusted… […]

As mortgage rates rose back above 7% in April, and remain high despite a recent decrease, homebuilders are pulling back their hopes for the housing construction market, according to the latest National Association of Home Builders (NAHB) data. The NAHB/Wells Fargo Housing Market Index (HMI) for May registered at 45, six points down from the… […]

The Consumer Price Index (CPI) increased 0.3% in April on a seasonally adjusted basis, after rising 0.4% in March, the U.S. Bureau of Labor Statistics reported on May 15. Over the last 12 months, the all-items index increased 3.4% before seasonal adjustment. After hitting a 40-year high of 9.1% in June 2022, inflation has slowed.… […]

Second Century Ventures, the strategic investment arm of the National Association of REALTORS®, has announced the selection of eight companies for the second annual REACH Latin America (LATAM) cohort. Those selected for the 2024 program will join a portfolio of more than 250 technology companies across six major markets worldwide. NAR stated that the REACH… […]

Bright MLS, which covers the mid-Atlantic regions of the eastern United States, has published its latest report chronicling changes (and continuity) in the region’s housing markets.  The report suggests that despite new listings, rising mortgage rates and prices continue to exclude potential buyers–affordability is defined as the central concern for the real estate market. “More… […]

RISMedia’s third-annual 2024 Real Estate Rookie of the Year contest is accepting nominations, honoring the industry’s top agents who are new to the business, yet achieving extraordinary results.  Now is the time to nominate a 2024 Real Estate Rookie of the Year!  Nominations may be submitted here. Deadline ends 11:59 p.m. on Wednesday, June 5.… […]

When you hear “farming,” you probably picture livestock, tractors and a big red barn. However, real estate farming refers to a tailored marketing strategy that agents utilize to get the best listing leads. If this term is new to you, let’s delve into what it is, why it’s beneficial and how to execute the strategy… […]

A 40-page court ruling by Judge Stephen R. Bough, and a transcript of the settlement proceedings released by the court regarding big brokerages in class-action commission lawsuits, revealed new details regarding settlement approval and reasoning for Judge Bough’s rejection of arguments from objectors at the May 9 hearing. Most notably, Bough addressed alleged conflicts of… […]

During RISMedia’s midyear Power Broker Forum on May 7, the standing-room-only crowd of more than 500 served as testament to the concern surrounding the settlement-triggered changes on deck for the industry this summer. While coming together to candidly share and strategize is the longtime goal of RISMedia’s Power Broker Forums, held semi-annually at the National… […]

Guaranteed Rate has announced the next wave of expansion of its Community Engagement Initiative, designed to significantly improve funded volume in underserved communities nationwide. May 2024 marks the formal launch of phase two of this initiative, as the company has recorded rapid progress in its community work with diverse segments. The initiative’s first phase focused… […]

Eighty years ago, Franklin Delano Roosevelt signed the Servicemen’s Readjustment Act (colloquially known as the G.I. Bill) into law. This law established programs that continue to serve veterans as they readjust to civilian life and reward them for their service to this country. Eight decades later, one of those programs continues to provide veterans with… […]

Leading Real Estate Companies of the World® has added HOMEstretch to its Solutions Group program of preferred business resources, used by the company’s global network of 550 market-leading real estate firms. HOMEstretch–operating in seven U.S. cities with plans for national expansion–provides value-added services to prepare homes for sale, including home clear-outs, interior and exterior painting,… […]

Mold is a fungus that thrives in damp environments, often becoming a concern in homes. It produces spores that travel through the air and can settle on moist surfaces, leading to rapid growth. Mold’s presence in homes can pose significant health risks and cause structural damage, making it essential for homeowners and buyers to understand.… […]

Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. AREAA The National Fair Housing Alliance (NFHA), Asian Real Estate Association of America (AREAA), Housing Opportunities Project for Excellence, Inc. and the Fair Housing Center of the Greater Palm Beaches, have filed a… […]

FBS, leading provider of MLS technology, announces the addition of Northwest Indiana Realtor Association (NIRA), Great Smoky Mountains Association of Realtors (GSMAR),  Mexican Association of Real Estate Professionals (AMPI), and Ulster County Board of Realtors (UCBR) to the Flexmls® platform, signaling a strong start to the year on the heels of an impactful 2023.  Many… […]

The National Association of REALTORS® today opened applications for the “Pitch Battle” competition taking place at the 2024 Innovation, Opportunity & Investment (iOi) Summit, the premier event for real estate technology. The sixth annual iOi Summit will take place Aug. 28-29 in Chicago, Illinois. The Pitch Battle competition, presented by NAR’s venture capital arm Second… […]

In the latest RISMedia webinar—“The Power of Being Available 24/7: How to Level-Up Responsiveness for Stronger Client Connections”—panelists Mandy Rewis, head of Business Development and Partnerships at SignMore; Eric Landry, associate broker at Portside Real Estate Group; and Angela Adams, REALTOR® with Michael Saunders & Company, discuss elevating agent responsiveness and communication to create stronger… […]

Shifting gears during a standard company earnings report last week, Compass Founder and CEO Robert Reffkin delivered a state-of-the-industry address in which, among other things, he insisted that the residential real estate market will rebound dramatically in the coming years, driven by factors such as increased inventory, all-cash homebuyers and low mortgage rates. He also… […]

Above, John Armstrong VITALS:  RE/MAX Rising Years in business: 8 Size: 1 office, 80 agents Regions Served: Central Illinois 2023 Sales Volume: 1,100 2023 Transaction Volume: $270 million http://www.remaxrising.com  A second-generation REALTOR®, John Armstrong—co-owner and managing broker of RE/MAX Rising—initially resisted getting into the business over fear that he would spend too many nights and… […]

Confidence in the market for new multifamily housing declined year-over-year in Q1 2024, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB).  NAHB stated that the MMS produces two separate indices: the Multifamily Production Index (MPI) had a reading of 47, down three points year-over-year,… […]

Hands-on training with mentors, authenticity on social media and honest conversations with clients may sound like simple tips for success in real estate, but for Floridia real estate agent Hudson “Mitch” Willis, of LPT Realty, these were a part of system of tools that catapulted his first year in real estate (2022) to extraordinary success. … […]

This past Saturday, Warren Buffett, co-founder, chairman and CEO of Berkshire Hathaway, and Greg Abel, CEO of Berkshire Hathaway Energy, gave their input on the latest commission lawsuit settlements across the industry, at Berkshire Hathaway’s annual shareholder meeting—including discussion regarding HomeServices of America’s announced $250 million settlement. “There’s no question the industry will go through… […]

A pocket listing startup suing the National Association of REALTORS® (NAR) is seeking to push forward with its claims that the Clear Cooperation policy violates antitrust laws, asserting that its business model addresses a “superfluity of ineffective agents” in a case with potential impacts beyond the NAR settlement. In a 17-page filing in a California… […]

In the wake of HomeServices of America’s $250 million historic class-action, commission-focused settlement, leadership within the national brokerage has provided affiliated operating companies and agents with an extensive breakdown of what comes next for them regarding rule changes and overall impact on transactions for sellers moving forward—something that seemingly hasn’t yet been done to this… […]

Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. Per Freddie Mac, the latest average mortgage rates as of May 9 are 7.09% for the 30-year fixed-rate mortgage and 6.38% for the 15-year fixed-rate mortgage.  Compared to the previous week of May 3–the 30-year… […]

Property Highlights: Location: New Smyrna Beach, Florida Listing Price: $1,999,000 Features: 5,000-plus-square-foot Mediterranean-style home with four bedrooms, four full baths and two half-baths. Added Appeal: Luxurious outdoor amenities, including a stone fireplace, heated spa and 22×32-foot pool. We’ve all marveled at Bob Ross painting exquisite and tranquil works of art—often featuring serene homes by the… […]

Lori McCarthy, managing broker of the recently Compass-acquired Latter & Blum in Lafayette, Louisiana, has made recruitment and community involvement priorities in her business. She serves on her local REALTOR® association board and is a member of the Young Professional Network, which provides guidance to rookie REALTORS®. RISMedia touched base with McCarthy for the latest… […]

The 4,000-member strong LGBTQ+ Real Estate Alliance has published its fourth annual LGBTQ+ Real Estate Report. The report details how, as the Baby Boomer generation reaches retirement age, 70% of aging Alliance members believe LGBTQ+ face harder challenges in finding post-retirement homes. Highlights: A plurality (35.3%) of aging Alliance members (aged 65+) expect to retire… […]

Buying a property together is a significant step for unmarried couples. This decision involves unique legal considerations and requires careful planning. I will provide critical property laws for unmarried couples, including title considerations, mortgage qualifications and protective measures for individual investments. As someone who has been selling real estate for a very long time, it… […]

Judge Stephen R. Bough gave his final approval today to settlement agreements struck by big brokerages in class-action commission lawsuits, granting broad immunity from claims by sellers that these companies conspired on rules that inflated real estate compensation at the expense of consumers. The ruling does not include a settlement struck by the National Association… […]

The 30-year fixed-rate mortgage (FRM) decreased to 7.09% from 7.22% last week, the first decrease seen since they began rising five weeks ago in March, according to the latest Primary Mortgage Market Survey® from Freddie Mac. This week’s numbers:  The 30-year FRM averaged 7.09% as of May 9, 2024, down from last week when it… […]

This week, my travels find me at home on Monday morning conducting WIG calls with our CEO’s. On Monday afternoon I traveled to Orange County, CA for business meetings and to participate at the Mike Ferry West Coast Management Retreat. As I reflect on the vibrant discussions at the Mike Ferry West Coast Management Retreat,… […]

Clockwise from top left: Howard Hanna agents Kim Crane, Jason Sekody, Kelly Huff and Ryan Shedlock Editor’s Note: The Buyer-Agent Playbook is a new iteration of RISMedia’s biweekly Playbook segment, specifically centering on buyer agency and how agents are navigating the changes and trends in a post-NAR-settlement environment. The series will provide brokers and agents… […]

In a generally upbeat Q1 earnings report May 8, residential real estate company Compass showcased $1.05 billion revenue, a 10% increase from Q1 2023. The company attributed the revenue gain to a 7.1% increase in transactions. On the negative side, Compass lost $132.9 million in Q1, still an improvement over the $150.2 million it lost… […]

At the 2024 REALTORS® Legislative Meetings on Tuesday, May 7, 2024, the “Emerging Business Issues and Technology Forum,” featured a panel of experts exploring how AI and augmented reality will shape the real estate industry. The panel was moderated by Julie Whitesell, chair of the Emerging Business Issues and Technology Forum and broker in charge… […]

Above, Jeff Grebe Jeff Grebe Broker/Owner Weichert, REALTORS® – Advantage Plus Knoxville, Tennessee https://www.advantageplustn.com  Region served: East Tennessee Years in real estate: 31 Number of offices: 2 Number of agents: 68 Favorite part of your job: Seeing agents succeed. What are some of the current trends you see in your market right now?  We’re in… […]

Fannie Mae has announced new enhancements to its Income Calculator tool that will help mortgage professionals serve the growing number of mortgage applicants who are self-employed and don’t have traditional sources of income. The new web interface provides an additional, free avenue to access Fannie Mae’s existing Income Calculator functionality, which the company introduced in… […]

While the market is still unsettled—especially in regards to the currently pending NAR settlement and the changes that will bring to the industry—home sales continue as always. However, sellers have lost a little bit of the upper hand in the market as of late when it comes to a housing market correction. For sellers looking… […]

The National Association of REALTORS® (NAR) recently released data showing that nearly every metro area it tracks—93%—posted year-over-year price increases in the first quarter of 2024. The top 10 metro areas with the largest year-over-year median price increases, which can be influenced by the types of homes sold during the quarter, all registered gains of… […]

On Wednesday, April 24, 2024, President Joe Biden signed a bill into law that’s been dubbed a “TikTok ban.” Specifically, the bill mandates that ByteDance, TikTok’s parent company, has nine months to sell it or the video social media app will cease operations in the United States. The bill, originally passed in the U.S. House… […]

Mortgage applications increased 2.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 3, 2024. This week’s numbers: The Market Composite Index, a measure of mortgage loan application volume, increased 2.6% on a seasonally adjusted basis from one week earlier.  On an… […]

One day after deciding to settle commission lawsuits with a proposed $9.25 million-dollar payout, Redfin, in a May 7 Q1 earning report, showed solid first quarter revenue of $225.5 million, an increase of 5% compared to the first quarter of 2023. Gross profit was $70.8 million, an increase of 22% year-over-year. Real estate services gross… […]

Plaintiffs in Batton, the largest commission-focused case filed by homebuyers, are seeking to delay approval of settlements that brokerages agreed to in cases filed by homesellers, according to a court filing today, claiming at least two companies are attempting to squeeze in immunity from buyer claims at the last minute. With the final approval hearing… […]

In the wake of recent headlines surrounding the National Association of REALTORS®’ lawsuit settlement and the Department of Justice’s renewed interest in investigating commission practices, skepticism regarding the value of real estate professionals has surfaced across the nation. Yet, amidst the noise, it would be foolish to overlook the enduring significance of the role you… […]

The latest monthly update to the Fannie Mae Home Purchase Sentiment Index (HSPI)–for April 2024–shows the index at 71.9 percentage points (representative of how many consumers think now is a good time to buy). The rating is unchanged from March 2024 and 5.1 points higher from April 2023.  In a release, Fannie Mae described these… […]

ERA® Real Estate has announced the launch of its ERA Coaching Program. The program, designed for all ERA-affiliated agents regardless of experience level, is offered at no cost to participants.  The ERA Coaching Program will gather agents in their brokerage’s office to attend the program via watch parties. The program consists of seven, two-hour live,… […]

The National Association of REALTORS®’ Chief Economist Lawrence Yun forecasted that interest rates will fall in the long term, 2024 existing-home sales will rise to 4.46 million (up 9% from 4.09 million in 2023) and 2025 existing-home sales will increase to 5.05 million (up 13.2% from 2024)—with further gains in eight of the next 10… […]

The National Fair Housing Alliance (NFHA), Asian Real Estate Association of America (AREAA), Housing Opportunities Project for Excellence, Inc. and the Fair Housing Center of the Greater Palm Beaches, have filed a fair housing discrimination suit in Miami federal court, together challenging Florida’s state law SB 264. Each organization is claiming the bill violates the… […]

Bringing together ostensible outsiders with deep experience in the realm of housing policy and finance, the National Association of REALTORS® (NAR) billed the panel—taking place during the organization’s midyear legislative meetings in Washington D.C. yesterday—as an overview of “practical and policy solutions in a post-settlement environment.”   Really, however, the focus was on one policy—financing buyer… […]

In a Q1 earnings call May 6, technology real estate company Offerpad Chairman and CEO Brian Bair put as positive a spin as he could on numbers that continue to exist in the negative, preferring to accentuate a growth pattern through smaller losses this year over last.  The iBuyer’s revenue was sharply down in the… […]

RISMedia’s latest Broker Confidence Index (BCI) is offering a potentially very positive preview of 2024’s spring and summer market, with a bigger than usual jump in broker sentiment at the beginning of the traditional busy season for real estate, which could foreshadow resurgent sales. Jumping a full point from seven to eight in April, brokers… […]

The National Association of REALTORS®, the National Association of Home Builders, the Mortgage Bankers Association, the American Land Title Association, National Apartment Association, U.S. Mortgage Insurers, National Multifamily Housing Council, Asian Real Estate Association of America, American Property Owners Alliance, Leading Builders of America and Nareit express thanks to Reps. Mark Alford (R-Mo.), J. Luis… […]

Above, Matthew Mullin, left, and Harvey Blankfeld Frustrated by ‘something missing’ in the corporate structure, Matthew Mullin came to real estate after an unfulfilling start in equity research. “My Dad had been in real estate at one point in his life, and I saw it as a much more personal experience,” said Mullin, CEO of… […]

When you work on a team, meetings are an important part of your toolkit to succeed. They serve as a way to bring teammates together for idea-sharing, knowledge gathering, relationship building and to make critical decisions. But it’s imperative that your meetings have structure and purpose in order to make them beneficial for your business… […]

Real estate remains a solid investment choice. It offers both rental income and the possibility of appreciation. However, deciding between investing in a condominium or a house depends on market trends, personal investment goals and the economic climate. I will provide a detailed comparison between buying condos and homes and evaluate their respective merits as… […]

According to new legal filings in the U.S. Securities and Exchange Commission (SEC), Redfin will pay $9.25 million as part of a settlement agreement reached with homeseller plaintiffs in the class-action lawsuit known as Gibson. This amount comes as plaintiffs argue that Redfin—as well as other brokerages such as The Real Brokerage, Realty One Group,… […]

PropStream’s President Brian Tepfer has announced the company has upgraded its data sets, utilizing the power of Predictive Real Estate Data to pave the way for new features and proprietary AI predictive analytics. Listed new features include: Enhanced valuation modeling Localized demographic data  New lead lists Photo AI insights AI predictive property scores “Coverage, speed,… […]

Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. While NAR and other settlements pend both preliminary and final approval, the flow never stops in the court systems throughout the U.S. as updates continue to develop in the many commission lawsuits currently… […]

As the economy waivers recently—with mortgage rates back up above 7%, the most recent PCE report demonstrating a rise in inflation and no respite in the interest rates from the Fed yet—there’s been a lot of uncertainty surrounding the mortgage market.  This uncertainty, however, does not seem to have affected Rocket Mortgage, as its Q1… […]

Attendees walk past the REALTOR® logo Sunday at the Walter E. Washington Convention Center in Washington D.C. Three months ago, NextHome CEO James Dwiggins, speaking on an RISMedia webinar, took a forceful—and somewhat unexpected position—on controversies and questions currently dogging the National Association of REALTORS® (NAR). A vocal critic of the organization, Dwiggins took a… […]

Lead generation platform PropStream offered partial sponsorship to Code Orange Team #3476, a pre-college robotic team which competed and placed 25th (out of 75th) in the First® Robotics Competition (FRC) from April 17-20, 2024 in Houston, Texas. The event, and Code Orange Team 3476 itself, aim to promote interest and knowledge in science, technology, engineering,… […]

Despite all the many accomplishments Reliance has achieved over its first 20-plus years, there is one person in particular who remains fairly indifferent. That would be CEO Sean McRae. It’s not that he isn’t proud of what he’s helped build, because he is. It’s more that he prefers to focus purely on looking forward, not… […]

Home selling profits continued to decline due to a decrease in the median nationwide home price, according to the latest data from ATTOM. ATTOM’s Home Sales Report for Q1 2024 saw profit margins on median-priced single-family home and condo sales decrease to 55.3%—the smallest level in more than two years. This reading was down from… […]

RE/MAX, a global power brokerage that has been voted to have the U.S. and Canada’s most trusted agents, posted another quarter of decline in revenue and agent count. This comes after four consecutive quarters of decline in 2023, and a commission settlement of $55 million in the third quarter of 2023, aimed to resolve sweeping… […]

In a letter to members, National Association of REALTORS® (NAR) Chief Legal Officer Katie Johnson announced practice changes required under the NAR Settlement Agreement in the seller commission cases will take effect in August not July as originally stated, giving all parties involved a three-month window to adapt. She also outlined how the practice changes… […]

Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. -As economic signs remain stagnant or begin to worsen, the Fed decided once again to keep interest rates steady at the latest FOMC meeting. Many in the industry held an expectation for the central bank… […]

Have you ever pondered the intricate forces that mold your identity and influence your capacity for leadership? The acronym PENAM serves as a roadmap to understanding these pivotal influences in our lives. Each letter represents a significant force that shapes our beliefs, behaviors, and ultimately, our leadership potential. P: Parents Our foundational influence comes from… […]

Above, from left, Alí Araúz, Kevin Sing and Kevin Singham With all the hullabaloo these days concerning residential real estate sales in America, including buyer-agent commission worries, continual legal proceedings and more, what’s going on in other countries? Has their way of doing business come under similar scrutiny? Has there been any kind of outcry… […]

The endlessly adaptive and creative real estate industry is already preparing to turn today’s settlements into tomorrow’s success stories. Industry leaders are poised to leverage recent legal developments as opportunities for growth, paving the way for innovative business models and enhanced client experiences.  This webinar led by John Featherston and Matthew Ferrera, will feature a… […]

Opendoor, the largest and oldest iBuyer, is still struggling to adjust its business model to a more restrictive, sluggish market but is carefully watching the recent National Association of REALTORS’® (NAR) settlement as the company ramps up home purchases and looks for profitability “across seasons and market environments.” On an earnings call yesterday, Opendoor CEO… […]

When choosing a dream vacation home or a permanent residence, deciding between a lake house and a beach house is a common dilemma. If you have vacationed and enjoyed both, the decision could be challenging. Sometimes, when vacationing in either location for a short period, you may not think about the long-term consequences of ownership.… […]

Research consistently shows that the housing sector has a profound impact on the health of the economy and that homeownership offers long-term social and financial benefits. The last decade, in particular, has witnessed property values soaring, causing homeowners to realize unprecedented equity gains. Beyond the fiscal advantages, the societal benefits of owning a home are… […]

ShowingTime+ and Christie’s International Real Estate Group announced an agreement that allows Christie’s agents to provide Listing Showcase®—the AI-powered listing experience only available on Zillow—to home sellers in that tri-state area.  Listing Showcase is a listing experience and a real estate marketing solution in one, ShowingTime+ stated. Agents who include Listing Showcase as part of… […]

Despite ongoing legal woes and a drop in agents, virtual national brokerage eXp reported year-over-year revenue and profit growth in its Q1 2024 earnings call on Wednesday. Transactions also increased 8% to 110,976 year-over-year, the company reported. “During the first quarter, our agents closed over $37 billion of transactions, a 12% year-over-year increase, underscoring eXp’s… […]

At the end of 2023, Zillow pointed to the consistency of its earning results to paint a rosy picture of the company’s future. Reported revenue was up year-over-year in Q4 2023 ($474 million), though there was a net loss of $74 million, about the same as the year before.  In its first quarterly report of… […]

The 30-year fixed-rate mortgage (FRM) averaged 7.22% this week, rising for the fifth-consecutive week and up from last week’s 7.17%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday.  This week’s numbers:  The 30-year FRM averaged 7.22% as of May 2, 2024, up from last week when it averaged 7.17%.… […]

Charitable giving continues to rise among REALTORS® and REALTOR® associations, according to a new report from the National Association of REALTORS®. The 2024 Community Aid and Real Estate Report (CARE Report) provides insight into the monetary and volunteer contributions of NAR members, broker-owners and AEs or MLS staff. Monthly volunteering and annual monetary donations by… […]

The Center for REALTOR® Development announced a strategic partnership with Shaping Wealth to offer training programs crafted to equip agents with the human-centric skills needed to thrive in today’s real estate environment. The partnership provides NAR members exclusive access and discounted pricing on three upcoming virtual workshops. “At the Center for REALTOR® Development, we are… […]

HomeServices of America, after paying $250 million to settle seller suits and being dropped from the largest buyer suit, for a few short days was maybe the only large real estate company not directly facing commission litigation. That changed Monday, when lawyers behind the largest buyer suit (known as Batton) re-filed their accusations in a… […]

The Federal Open Market Committee (FOMC) maintained the target range for the federal funds rate on Wednesday following hotter-than-expected inflation and employment cost data. In its familiar refrain, the central bank left the federal funds target range untouched at 5.25% to 5.5% after its monthly meetings on Tuesday and Wednesday. Most investors and analysts expected… […]

The Corcoran Group has announced three new agents will be joining the brokerage–recruited not from within the real estate industry, but from the National Football League (NFL). Andy Levitre and Marc Mariani will be joining Corcoran Reverie in Nashville, Tennessee. Gregory Senat will be joining Corcoran Infinity Properties’ The Klipper Group in New Jersey. Levitre… […]

Cloze—a software company that delivers AI-powered real estate solutions—announced today that Parks | Pilkerton—Tennessee’s largest residential real estate company—has selected their platform for lead management, multi-channel marketing automation, and customer relationship management (CRM). Cloze’s robust AI capabilities will help Parks | Pilkerton agents and leadership increase productivity and lead conversion. “As an organization, we’re committed… […]

Editor’s note: Join Premier today to access this exclusive report! Can there be a more time-worn adage than “The more things change, the more they stay the same?” As we navigate the complexities of a post-Burnett world, you’ll be putting those words to the test. How will things change for you? What strategies will you… […]

The January issue of RISMedia’s Real Estate magazine is now available, and not to be missed are several exclusive features, including an in-depth look at RE/MAX and how they continue to attract new agents and affiliates, and expand their network for peak success in the industry. We also take a look at Reliance’s AI solutions,… […]

The courts are definitely in motion as a batch of preliminary settlement approvals were signed off on by Judge Stephen R. Bough on Apr. 30. Bough—who oversaw the Burnett case—granted preliminary approvals for the recent commission lawsuit settlements by Compass, The Real Brokerage, @properties and Realty ONE Group and Douglas Elliman. The official filing stated… […]

In a post-National Association of REALTORS® (NAR) settlement world, buyer agents know they will need more than a quick stat or a flashy presentation to win clients. More and more, people are being told that they can find all the guidance they need in a home search on the portals. Whether or not this is… […]

Attention new agents and fans of new agents! RISMedia’s popular Real Estate Rookie of the Year contest is now accepting nominations for 2024. The deadline to nominate a deserving candidate is June 5, 2024.  Submit your Rookie of the Year nominations here!  The 2024 Rookie of the Year award, designed to honor real estate agents… […]