What will happen with the commission litigation? Which companies may merge? How will consumers behave? The only thing that’s certain is that real estate’s next episode will be big. Continue reading
In the wake of the National Association of Realtors’ 3-month-old rule change, executives are reassessing agent pay amid pressure on commissions, an analysis of Q3 earnings data shows. Continue reading
Seattle-based brokerage and portal Redfin’s third-quarter revenue grew 3 percent year over year to $278 million. However, the company’s net losses ballooned 77.8 percent, according to Thursday’s earnings. Continue reading
The American Real Estate Association is looking for those ‘fined or otherwise harmed’ by the National Association of Realtors’ pocket listing rule and are interested in “collective action.’ Continue reading
In a LinkedIn post Tuesday, Dwiggins claimed brokerage leaders fighting to repeal the pocket listing rule are concealing an agenda to hoard listings, recruit agents and generate internal leads. Continue reading
According to Redfin CEO Glenn Kelman, big brokerages have a vested interest in getting rid of Clear Cooperation, even at the expense of agents and consumers. Continue reading
In his latest CNBC appearance, Redfin CEO Glenn Kelman talked about mortgage rates, the lock-in effect, and how buyer-broker compensation changes are already impacting market dynamics. Continue reading
Some real estate leaders say the focus on Clear Cooperation stems from the recent commission lawsuits. But other see a deeper question about brokerage profits at the heart of the issue. Continue reading
The Agency CEO and founder said he plans to revive a lawsuit against NAR over a pocket listing network. The threat came days after NAR officials convened to reevaluate Clear Cooperation. Continue reading
Seattle-based brokerage Redfin is taking its commission-based payment model, Redfin Next, nationwide on Oct. 27. Redfin Next enables agents to keep their W-2 status and benefits while earning competitive commission splits. Continue reading