The Georgia suit accuses NAR and major real estate companies of conspiring to keep commissions high. It's also the latest in a string of new cases following the Sitzer | Burnett verdict
More than a third of all home sales featured a concession in the past 3 months, according to new data and agents who told Inman that they're beginning to see signs of a buyer's market unfold
A majority of agents and 55% of mortgage and real estate broker-owners agree that culture is the factor that sets a company apart, according to the latest Inman Intel Index results for October
25 Compass agents with the most buyer-exclusive agreements and in-person interactions after 100 days of 2024 will win a trip to NYC, lunch with Leonard Steinberg and dinner at Reffkin’s home
The bombshell verdict of Sitzer | Burnett rocked the real estate industry, but recent earnings reports suggest many of its most recognizable CEOs don't anticipate major disruptions
Compass' chief real estate strategist speaks this week at the Compass RETREAT on 'The Future of the Industry and Client Representation.' In a recent conversation, he shared his insights
In a keynote address at Compass RETREAT on Tuesday, the CEO stressed getting back to basics, forging sincere connections with clients as key to surviving and thriving in the current market
Throughout the week, RETREAT attendees will learn how to develop new business tactics, wield technology more efficiently and stay afloat as guidance around commissions changes in 2024
In the wake of the Sitzer | Burnett verdict, the number of bombshell lawsuits has rapidly multiplied — putting more pressure than ever on real estate's status quo. Here's a rundown of all the cases
Homeseller Monty March filed suit in the Southern District of New York Wednesday, alleging REBNY rules in Manhattan kept commissions high and violated state and federal antitrust laws
The Blackstone Team is based in Providence and closed more than $95M in sales volume last year. The team's move to Compass comes amid intense competition for top talent
Over the past few months, 34 agents have joined The Agency from Compass' Northern California offices. In total, The Agency has brought on 72 agents in the region over the course of 2023
'Batton 2,' exponentially larger in scope than Sitzer | Burnett and the Moehrl commission suits, was filed last week in Illinois and takes aim at many of the defendants in another suit called Gibson
The brokerage has signed a lease for a 14,000-square-foot office space in the recently redeveloped HALL Park in Frisco, Texas, in a commitment to future growth in the region
Disrupting the National Association of Realtors' use of multiple listing services as a 'vehicle for higher commissions' is at the center of talks, lawyer Michael Ketchmark told Inman exclusively
The brokerage saw revenue fall 10% year over year, but also managed to cut net losses from $154M in the third quarter of last year to $39M this time around, according to a Q3 earnings call Monday
The Upper East Side native comes to the brand from Compass and has closed over $300M in sales during the course of his career. He specializes in Manhattan's luxury market
Real estate companies have been trapped in a repeating cycle of bad financial quarters. Will this latest round of earnings break the loop, or is the industry doomed to relive it?
Michael Ketchmark filed the new lawsuit just moments after a jury sided with his clients in the Sitzer | Burnett case. The new suit claims another batch of companies committed a conspiracy
The founding real estate agents of Christie's International Real Estate San Francisco | Marin | Wine Country hail from The Payton + Binnings Team and boast $200M in transactions annually
Dallas real estate agents Heather Guild and Elena Richey bonded with a non-agent friend, Melanie Stout, over a shared interest in true crime and real estate and the 'Crime Estate' podcast was born
St. Joseph statues, canceled flights, horseshoes, oh my! When clients are already nervous about a transaction, Friday the 13th could be the 'nail in the coffin,' agents said
The spacious duplex, located in Manhattan's Upper West Side Eldorado building, sold for $4.5M under asking after listing over a year ago
It takes a highly qualified real estate agent to perform at the level that many celebrities demand. Here are the top ones serving Hollywood today, according to 'The Hollywood Reporter'
The new office is located on the western edge of Country Club Plaza and is easily walkable from some of the neighborhood's premier hotels, restaurants and high-end shops
NYC-based brokerage Compass has acquired Realty Austin and Realty San Antonio for an undisclosed amount. The brokerage closed $5.24B in 2022 sales volume
Compass has recruited 15 agents from an Ocean City, New Jersey, RE/MAX franchise, 10 of whom will serve as principal agents. The new recruits represent $136M in 2022 sales volume
The luxury magazine with a distribution of about 35,000 will now be accessible to ultra-high-net-worth clients flying through select private airports in the US, the brokerage told Inman exclusively
Ronald Leonhardt Jr. purchased the Harbor Beach home for $23M in 2021. It includes 120 feet of water frontage, a lap pool, a full summer kitchen and docking capabilities for a megayacht
The kitchen may look groovy, but none of the appliances in 'The Brady Bunch' replica house are functional, new homeowner Tina Trahan learned shortly after acquiring the property
DPP Real Estate has more than 175 agents and specializes in architecturally significant properties. Moving forward, the firm will be known as DPP @ Compass
Natalie Hamrick and Kevin Van Eck, vets of Christie's and @properties, will take up Lim's former role as co-presidents. Nidhal Charfi also joins as VP of affiliate expansion, Inman has learned
The new tool comes during a year of heightened interest in artificial intelligence. It'll help agents write listing descriptions, craft social media posts and more
The house was purchased from the television network HGTV for about 9% less than the network paid for it in 2018 and has been sold to a fan of the sitcom who collects unusual homes
The new class brings the total number of Compass Sports & Entertainment Division agents up to 158, representing 71 different markets. In 2022, they closed more than $7.7B in sales volume
Leslie Clarke's team specializes in the upscale Westport and Fairfield County markets, according to an announcement. In 2022, the 2-agent team closed $124.33M in sales
Even as real estate companies cut costs and narrowed losses in the second quarter of 2023, the third quarter may deliver the truest test of their financial mettle, Mike DelPrete told Intel
Anne Hodge and Debra Dobbs are joining Compass in the Windy City. The agents together bring more than 60 years of experience in Chicago real estate, according to the company
California-based agent Janet Roberson told Inman a Compass team leader dismissed her after her controversial testimony at a school board meeting in April
Compass has partnered with the 40-year-old brokerage and its team of nearly 40 agents, marking the publicly traded brokerage's first office in Santa Cruz County, the company announced Wednesday
The pandemic first started opening luxury buyers' eyes to New Hampshire's second-home market opportunities, and now more and more ultra-luxury buyers are catching on
The biggest publicly traded brokerages and tech companies significantly slashed losses in the second quarter, restoring investor confidence, according to an Intel analysis of Q2 earnings data
Among the publicly traded real estate enterprises to release second-quarter earnings reports this month, 2 companies stood out for John Campbell, a managing director at analytics firm Stephens
Fires that roared through western Maui last week have destroyed thousands of homes and killed scores of people. The real estate community is trying to help pick up the pieces
The deal is just the latest of Ford's big-ticket transactions, following a couple multimillion-dollar home purchases in Palm Beach over the last several months
Compass has recruited the 2nd-largest Coldwell Banker teams in Denver and Seattle. They are the 51st and 52nd agents or teams to move from Coldwell Banker to Compass this year
Prior to CityRealty, Mason spent several years at Stribling & Associates which was acquired by Compass in 2019. Now she'll be reunited with many of her former colleagues, Inman has learned
During an Inman Connect panel on Wednesday, Compass' CEO argued the brokerage's in-person philosophy gives it an advantage over rival firms 'charging the least and giving you the least'
At Inman Connect Las Vegas, real estate strategist Mike DelPrete explained the 'unfair advantage' of the low-fee business models and how agents are the ultimate solution
'You've got to be comfortable with being uncomfortable,' said top-producing agent Dawn McKenna at Inman Luxury Connect
Compass' 2Q revenue dropped 26% year over year to $1.5B, according to an earnings call Monday. Despite lower revenue, the brokerage reached free cash flow positivity and slimmed net losses
Joseph Magsaysay will join Compass' leadership as the brokerage looks to enhance its luxury presence in Silicon Valley. Magsaysay says he's developed a 'people first' leadership strategy
Rebranded as HHG | Compass, the 12-agent team hails from Corona Del Mar, California-based luxury brokerage Residential Agent, Inc. with operations spanning San Francisco to Los Angeles
Ahead of his appearance at Inman Luxury Connect, the Spears Group founder told Inman demand for trophy properties or highly unique listings is at an all-time high throughout North Florida
Major real estate companies began reporting Q2 earnings this week against a backdrop of high rates, low inventory and a sluggish economy. Analysts shared what they're watching with Intel
Compass Head of Coaching Courtney Smith said the brokerage's new data-powered Performance Tracker tool will enable agents and team leaders to track gross commission income, sales volume and other data
With sales down and inventory low, agents are combing social media, calling expireds and seeking out people with major life milestones. In other words, they're meeting the moment with creativity
As Billionaires' Row continues to reshape Manhattan's skyline one 'supertall' at a time, agents say a new class of buyer is gradually reshaping the demographics of New York's most exclusive block
Like the energy of its premier city, homebuyers and sellers in New York State are grappling with a rollercoaster summer, with extreme buyers' and sellers' markets taking consumers on a wild ride
Maggie Wu is the latest of many agents to 'boomerang' back to Compass after briefly leaving for another company. She leads the 4-person W Team which closed $102M in sales last year
The Swann Group's agents are the latest of hundreds who have moved from Compass to Coldwell Banker over the past year, the latter brokerage told Inman this week
The office launched in January 2023 and in the last 3 months has brought on 4 big regional names as well as 5 other high-performing luxury agents, according to the luxury brokerage
Former Pacific Union CEO and Compass California President Mark McLaughlin is returning as chief real estate strategist following a 2-year hiatus. He'll focus on improving the agent experience
Lloyd spent about 4 years at Compass before her move, Inman has exclusively learned. She helped facilitate nearly $200M in sales across New York City over her roughly 10-year career
Dallas-based team leaders Jason Castro and Liz Mello have moved their team, The Castro Group, to Compass. They are the 48th agent or team to move from Coldwell Banker to Compass this year
Intel takes a look back at the market trends, brokerage strategies, Wall Street happenings and legal controversies that shook the past 6 months and could well define the remainder of 2023
Compass CEO Robert Reffkin revealed on CNBC how volatile mortgage rates are sidelining homesellers and why a boost in existing-home inventory could happen as early as December
Compass Luxury Division has teamed with Paris-based luxury firm BARNES International to develop a new referral program, according to the company
For too long, Mike DelPrete argues, legacy brokerages shrugged off their low-fee competitors. Some of those barbs haven't aged well
Tacoma's Margo Hass Klein joined Compass this week, according to the company. She's the latest in a string of Coldwell Banker agents who decamped for Compass this year
The home Disney built in the early 1930s and lived in for nearly 2 decades, while releasing some of his company's most iconic films, is available for rent in Los Angeles' Los Feliz neighborhood
Native New Yorker and Providence, Rhode Island, agent Kira Greene offers advice and insight plus the lessons she's learned along her journey
Ambuehl, who once had a career as an actress, will lead the Brentwood office of Aaron Kirman's AKG | Christie's International Real Estate. Last year, she sold more than $250M in real estate
The luxury team spent 24 years with Coldwell Banker before realigning with Compass, Inman has exclusively learned. Last year, the team traded $80M in real estate transactions
In a Bloomberg Markets TV appearance, the top boss at Compass said homeowners are treating a 3% mortgage rate 'as a financial asset' — at least for now
The real estate giants' omission from Fortune's annual list of the biggest companies illustrates just how far industry players have fallen as a result of a housing contraction that began in 2022
Reffkin's move to the social media-forward team will create a cross-generational collaboration that capitalizes on combining varied skill sets to best help clients, Inman exclusively learned
They may have fame and money, but celebrities have to go through the painful process of house hunting just like the rest of us, Bennifer's homebuying journey shows
The home in Studio City was renovated by HGTV in 2019 and has since been used in a number of the network's specials and series. Now one lucky buyer will be able to keep a piece of TV history
Meet McKenzie Ryan. From her Olympic training days to Season 2 of 'Kendra Sells Hollywood,' here’s the Real Tea in her own words
Find out how agent migration patterns can offer significant insight into the future of real estate brokerage growth
Most publicly traded real estate companies continued to bleed money in the first chunk of 2023. These metrics help explain why investors aren't panicking
Reffkin said Tuesday, during a Needham Technology & Media Conference session, that housing is in a 'sideways' market — but after last year, homebuyers are now afraid prices will go even higher
Find out why Boca Raton, Florida, real estate agent Aaron Buchbinder views his Sunshine State location as a competitive advantage
Moving Medicine Partners will launch as a national network of agents later this month with St. Louis relocation specialist Zoe Cangas leading the new initiative, Inman has learned exclusively
Redfin, Opendoor and Compass have all seen their share prices rally in recent days — suggesting that after years of the cold shoulder investors are warming to the sector
The brokerage brought in a total of $957M in revenue and lost $150M. The results are something of a repeat from Q4 2022
Since the accelerator launched a decade ago, 80 companies have graduated from the program, an Intel analysis shows. More than 75% are still in business and about 20% have been acquired
Jay McCanless, a senior vice president of equity research at Wedbush Securities, reveals what he'll be watching as publicly traded real estate companies post Q1 earnings this week and next
The 3-person New York City team is returning to Compass to further expand into luxury markets and take advantage of the company's technology offerings, team leader Aaron Seawood says
Adana Leonard and Tommy Kanarellis — who's returning to Compass after a stint at Douglas Elliman — focus on luxury listings and join the brokerage amid fierce competition for top agents
Inman's first-ever Intel technology survey suggests that industry members are more likely to assemble their own solutions rather than use a single, comprehensive technology platform
Some real estate agents are earning tons in extra splits from their brokerages, the real estate advisor told Intel. Everything seems great — until they're told to pay it back in full
As the battle for agent count stalls amid a slow market, firms such as Compass are seeing former agents, lured away by promises of better tech and more opportunities, come back into the fold
From towering garbage to high-level stench, agents told Inman their most traumatic tales from clutter-inclined clients following the discovery of a home filled with 'millions' in old comic books
During his latest CNBC appearance, Compass CEO Robert Reffkin outlined the catch-22 of higher mortgage rates and why early pandemic boomtowns are facing a devastating bust
The brokerage is recruiting agents and regional directors from the military community to help launch the Compass Military Division in July
A 'penthouse' title alone isn't enough to get a seller top dollar anymore, according to a new report obtained exclusively by Inman from Jim St. André at Compass. Other factors play a key role, too
Upstate Curious includes 15 agents, operates across 11 counties and is known for its successful Instagram presence
From helping to launch the Mexican Olympic ski team to fresh details on his split with Hilton & Hyland, Umansky tells anecdotes from his life paired with lessons that came of those experiences
The acquisition of Launch Real Estate expands Compass' footprint at a pivotal time for the company and the industry
From 2019 to 2023, the number of agents who left a brokerage due to a weak culture doubled to 30%, according to a recent Coldwell Banker survey
Real estate businesses burned through billions in cash last year. Intel breaks down the biggest companies with the least wiggle room as economic uncertainty stretches into 2023
The average sale price for a home in Manhattan fell 5% to $1.95M while the median sale price fell 10% to $1.075M, according to a quarterly market report by Douglas Elliman and Miller Samuel
To make their $5M-plus properties more attractive and move them more quickly, some sellers have been cutting their asking prices precipitously and negotiating other add-ons into contracts
Brokerages and emerging disruptors alike dipped into savings as revenues declined late last year. Industry analyst Mike DelPrete spoke exclusively to Intel about the options at their disposal
Houston real estate veteran Haley Garcia was with Compass from 2018 to early 2023 and generated $205.5M in sales volume during her last 2 years with the brokerage
The recent market shift has been a 'great equalizer,' accentuating the differences among brokerage models and the importance of agent count
Dating to the late 1700s, the estate known as Kirkwood Farm features 5 historic farmhouses, 2 barns and a springhouse. This marks the 1st time it has been on the market in over 90 years
On the first day of spring, agents across the US who spoke to Inman saw the return of bidding wars and busy open houses, suggesting that after a slow 2022 the market is turning a corner
The sudden change in the global banking landscape has left luxury real estate clients hanging out 'in the parking lot,' Kofi Nartey said, as they wait to see where the remaining chips will fall
Find out how this luxury broker made the move from banking to stay-at-home mom to real estate (Hint: It started with an open house)
The number of US cities where the typical home value was $1M or more has dropped from a high of 522 in July 2022 to 464 as of January 2023. Coastal states have been most severely impacted
Compass is not alone in needing to cut costs during a significant market downturn — and its future depends on it
Agents join Compass from Berkshire Hathaway HomeServices in the Miami and 30A markets and boast at least 25 years of experience in the industry, Compass exclusively told Inman
Designer César Giraldo believes the decision to conjure a custom branded fragrance for a single homeowner at 1859 Bel Air Road will pay off by bridging marketing, design and emotional appeal
Brokerages, tech companies and mortgage providers all saw massive losses as the market soured at the end of 2022. But some leaders did have a few tricks up their sleeves
Opinion
Disruptive sales models, lead aggregators and search products have transformed proptech into a true marketplace while freeing venture capitalists up to become more than mere power brokers
CEO Robert Reffkin floated the idea of a franchise brand during an earnings call Tuesday, describing it as a 'more profitable' method of growing the business
In a Q4 earnings report Tuesday, Compass announced that between October and December of last year, it brought in $1.11B in revenue, down from $1.6B during the same period in 2021
Wahlberg and his wife, Rhea Durham, initially listed the 30,500-square-foot property for $87.5M in April 2022 but dropped the ask by $8M after it sat on the market for several months
The Chicago-based team has exceeded $50M in sales volume since 2021 while still at Berkshire Hathaway HomeServices, Compass told Inman exclusively
Brent Thomson has been hired as a strategic adviser for Berkshire Hathaway HomeServices Drysdale Properties as the company looks to expand its presence in California and Nevada
Consumer Federation of America: Despite an NAR rule change, only Redfin displays buyer-agent compensation in virtually all of the major cities examined
Charlie Homet and John Brandon launched a boutique brokerage called Archpoint Advisory Partners in partnership with Side, focusing on properties in Brooklyn and downtown Manhattan
Large publicly traded real estate companies are about to share their numbers from the most brutal quarter in years. Analysts are bracing for the worst — and watching to see who can thrive
John Legend and Chrissy Teigen also lived in the Beverly Hills home from 2016 to 2021. After an initial unsuccessful offering of $19.25M, the current owner is attempting to offload it at a loss
The team formerly known as the Southern District Properties Group at Compass will now become Sotheby's newest affiliate in Texas, Southern District Sotheby's International Realty
Dockery and the Prince Team have netted $500M in sales volume across 800 transactions and will now be affiliated with Corcoran's SoHo office, the brokerage told Inman exclusively
Sales of homes valued at $10M or more in newly emerged or reemerging markets helped propel transactions in that sector beyond pre-pandemic levels in 2022 while falling short of 2021 levels
The independent brokerage has hired Diyanna Ahuja to lead its team of more than 500 agents, who brings 2 decades of experience in luxury retail operations and real estate to the role
'California, Nevada and Hawaii represent our largest market, and we are thrilled to have Wendy onboard to lead our teams and agent entrepreneurs in this key market,' CEO Robert Reffkin said
Compass went public in April 2021, and ever since then the New York-based brokerage has weathered a market downturn and seen investors' appetite for shares fall significantly
Compass CEO Robert Reffkin talks about stock market downturns, profitability and why brokers need to eschew virtual working to survive
So you've decided to join us at Inman Connect New York. Bravo! Here's a day-by-day breakdown of the conference along with some tidbits to get the most out of your week in NYC
Ahead of a 1st Inman Connect New York appearance, Salem shares their journey from budding fashion mogul to real estate dynamo and the power of authenticity amid a changing market
Opinion
All of the biggest players in real estate are cutting costs, but some are better off than others to weather the storm, Mike DelPrete argues in his first exclusive filing for Inman Intel
Newer upstarts and legacy companies have spent recent years competing intensely for top agents. But recent data suggests the years of fast growth may be ending
NYC-based real estate license education platform Corofy released its latest brokerage ranking list which was dominated by independent firms, including SERHANT. and Casa Blanca
Following her departure from Berkshire Hathaway HomeServices, Pierson joined forces with Jerfita to build on Jerfita's existing team and create the Jerfita Pierson Team at Compass
The brokerage has dominated the conversation for years in real estate but is now faced with the task of becoming profitable amid its first major market downturn
Not content to pause after purchasing 'The One' megamansion for $126M in March, the Fashion Nova founder also added the $40M Billionaire's Beach property to his portfolio recently
The New York-based brokerage is shopping around 89,000 square feet of office space at 90 Fifth Ave. in Manhattan as it looks for ways to stem its losses, which clocked in at $154M in 3Q22
Compass CEO Robert Reffkin sent an email to staff on Thursday morning informing employees of the latest staff reduction, marking the third round of layoffs in 8 months
The luxury real estate sector faced its ups and downs as the market entered a period of significant transition, but that didn't prevent luxury clients from making some stellar deals
Luxury buyers finally decided to take a pause in 2022 as economic volatility shook the market. But despite a market slowdown, luxury companies and agents kept making interesting moves
Following a 4-year stint at Compass, the 5-person McNair Group has returned to Coldwell Banker, where the team was founded in 2008, it was announced Friday
The brokerage sent a letter to the District Court for the Southern District of New York seeking to settle its dispute with the Real Estate Board of New York, or REBNY, outside of the courtroom