PropStream-Sponsored Robotics Team Places in Competition

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,… …more

Revolutionizing the Industry with AI Solutions

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… …more

Home Sale Profits Decline as Home Prices Fall

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… …more

RE/MAX Posts Declines in Q1: Down YoY in Revenue, Agent Count

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… …more

BREAKING: NAR Settlement-Required Practice Changes Pushed to August 17

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… …more

Mortgage Mix: No Changes From the Fed as Mortgage Rates Worsen

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… …more

Thoughts on Leadership: PENAM—The Architectural Forces Shaping You

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… …more

Global Real Estate Agents: What’s Happening Where They Live and Work?

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… …more

From Settlements to Success: How Industry Leaders will Innovate and Grow After the Lawsuits

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… …more

Opendoor Predicts Falling Commissions, Hopes to Benefit From Settlement

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… …more

Lake Home vs. Beach House: Pros and Cons of Each

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.… …more

CRD Connect: Advancing Homeownership

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… …more

Christie’s International Partners with ShowingTime+ for Listing Showcase®

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… …more

eXp Exceeds Expected Revenue Rate for Q1, but Agent Count Remains Down Year-Over-Year

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… …more

Zillow Sees the Positives in a Post-Settlement Industry in Latest Earnings Call

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… …more

Mortgage Rates Increase for Fifth-Straight Week

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%.… …more

REALTORS®’ Charitable Giving and Volunteering Increased Last Year

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… …more

CRD Partners with Shaping Wealth for Human-Centric Training Suite

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… …more

HomeServices Hit by New Buyer Suit Days After Seller Settlement

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… …more

Fed Holds the Line, Leaving Rates Unchanged in Ongoing Inflation Fight

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… …more