Minimum wage workers need at least 4 jobs to pay rent in some cities

Even the most expensive cities — which typically have higher minimum wages — are more affordable than those with $7.25 an hour minimums, according to data released Tuesday by Zillow. Continue reading

The luxury key for 2023? Maintain relationships and ‘be obsessed’

“We are really not in the real estate business…We’re in the relationship business,” said luxury broker Dolly Lenz at the final session of Inman Connect New York on Thursday. Continue reading

Want to crush it in real estate in 2023? Get ready to be the educator

Real estate agents should prepare to point consumers toward information that will help them navigate a return to a normal, slower market, Anthony Lammachia said at ICNY on Wednesday. Continue reading

Localize to expand its AI tools for agents to more markets in 2023

A company that powers the home search for buyers using artificial intelligence, generating leads for agents, will enter new markets this year CEO Omer Granot said on Wednesday at Inman Connect New York. Continue reading

Alpaca partner Ryan Freedman is on hunt for real estate disruptors

“Reducing friction was yesterday’s play,” Alpaca VC general partner Ryan Freedman told Inman in a wide-ranging interview. He stressed the need for a full suite of industry services. Continue reading

Investors highlight the untapped potential in financing home equity

A slate of new companies backed by institutional investors is offering ways for owners to tap home equity. They made their pitch on Tuesday at Inman Connect New York. Continue reading

Ben Kinney tells agents to channel ‘Braveheart,’ lead in tough times

“There are casualties in every war, but casualties come from egos and lack of action,” Ben Kinney told an audience at Inman Connect New York on Tuesday. Continue reading

RealPage hit with second class-action suit alleging rent price fixing

Tenants in Florida claim the company oversaw a “cartel” that unfairly drove up the cost of rent in markets across the Sunshine State. The claim comes on the heels of a similar suit in California. Continue reading

Coldwell Banker reportedly closing offices in Chicago

The move follows layoffs by parent company Anywhere, which said the company would be looking for more ways to cut costs, including office space. Continue reading

In reversal from 2021, it costs more to buy than rent in 95% of US

Last year, it was more expensive to rent than own. High home prices and mortgage rates that doubled in 2022 changed that, according to a new report from property data firm Attom. Continue reading