Real Estate News

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US home listings worth nearly $700 billion - a new record

4 days ago | realestatenews.com | AJ LaTrace

The total value of homes listed for sale in the U.S. surged to $698 billion in April, a 20.3% increase from the same time last year, a new report from Redfin found. This new record total comes as supply continues to increase, homes linger on the market longer and buyer demand remains tepid, the Seattle-based brokerage noted.
Teams are rising - is your brokerage ready?

6 days ago | realestatenews.com | Stephanie Reid-Simons

Key points:Brokerages that are overly cautious could miss out on the growth opportunities teams offer. Teams are production engines, and some "now eclipse brokerages in their market," said RealScout CEO Andrew Flachner. Want to recruit or develop teams? Offer flexible tech, admin support and marketing resources. Brokerages that continue to prioritize solo agents over teams may find themselves clinging to a fading model — and losing ground fast.
The power of mortgage rates ‘cannot be overstated’

1 week ago | realestatenews.com | AJ LaTrace

Despite steep mortgage rates and hesitancy in the housing market, millennial homebuying intent has increased in recent months, a new survey from Realtor.com found. The findings suggest a generational shift in attitudes toward homeownership, even as the broader market remains subdued due to affordability concerns and the ongoing mortgage rate lock-in effect, which has tied up inventory of existing homes in many markets across the country.
A new Nosalek deal: No more offers of compensation on MLS PIN

1 week ago | realestatenews.com | Dave Gallagher

After making a key change to the terms of its settlement with Massachusetts home sellers, the one remaining defendant in a five-year-old commissions lawsuit may finally be able to wrap up a case that has received intensive scrutiny from the Department of Justice. The plaintiffs in the case known as Nosalek filed their fourth amended settlement agreement with MLS PIN on May 29. A preliminary approval hearing is scheduled for June 10.
The market slump? It’s ‘all about mortgage rates’

1 week ago | realestatenews.com | Dave Gallagher

Key points:Pending sales were down 6.3% in April compared to March and down 2.5% year-over-year, according to NAR. Mortgage rates rose for a third straight week, averaging 6.89%. Purchase applications notched up, however, as inventory continues to rise and buyers are gaining negotiating power in some markets. April showers dampened sales this year as Americans digested an onslaught of economic news and held off on signing contracts to buy homes.
Could the commissions settlements be thrown out?

1 week ago | realestatenews.com | Dave Gallagher

Key points:A brief submitted by law professor Tanya Monestier argues that the plaintiffs in Sitzer/Burnett did not have standing to pursue industry practice changes. If the appeals court agrees, the settlement could be tossed out, and "we are back to where we were a year and a half ago."Other objections have been filed with the court, which will accept briefs through July 21. It could then schedule a hearing and make a decision next year.
Compass rolling out new seller disclosure form

1 week ago | realestatenews.com | AJ LaTrace

Key points:The new disclosure form promotes the advantages of delayed marketing, including not accruing days on market or displaying price history. The form also notes that listings not distributed via the MLS may receive less exposure, fewer offers and a lower sale price. Compass says it is committed to fair housing laws while advocating for seller choice; critics warn of the risk of discrimination and harm to buyers and sellers.
Why HomeServices is approaching acquisitions differently

1 week ago | realestatenews.com | Dave Gallagher

Key points:HomeServices has been known for leaving its acquired brands alone. But CEO Chris Kelly wants to make some changes — especially around tech — so brokers can focus on company culture. Kelly reiterated that HomeServices is not for sale, but said it’s open to acquiring other brokerages — if the fit is right. Kelly expects a smooth leadership transition following the departure of former CEO Gino Blefari and the impending retirement of Warren Buffett.
‘Unfiltered’: Who will win real estate’s ‘Cold War’?

1 week ago | realestatenews.com | Meghan Roos

Editor's note:The Real Estate Insiders Unfiltered podcast explores the people and forces that shape the real estate industry. Check out our top takeaways and this episode from NextHome CEO James Dwiggins and Keith Robinson, NextHome's chief strategic officer. The views, thoughts and opinions expressed in the Real Estate Insiders podcast belong solely to the podcast creators and guests.
‘Ask T3’: What’s next for MLSs?

1 week ago | realestatenews.com | Dave Gallagher

Editor's note:The Ask T3 series explores some of the biggest questions in real estate with thoughtful insight from industry professionals. Check out our top takeaways and watch the latest episode from host Nick Bailey, chief real estate officer at T3 Sixty. (Real Estate News is an editorially independent division of T3 Sixty.)The views, thoughts and opinions expressed in the Ask T3 series belong solely to the episode creators and guests.