Home prices trended up in almost all U.S. metro areas during the first quarter of 2024. Out of 221 metro markets analyzed, 205 (93%) posted yearly home price gains in Q1 2024, while 30% experienced double-digit price gains during the same period — up from 15% in the fourth quarter of 2023 — according to the National [...]read moreHome prices grew in 93% of markets in Q1 2024: NAR
As the August implementation deadline for the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement approaches, the window of time is shrinking for the U.S. Department of Veterans Affairs (VA) to revise its policies governing the fees that veterans cannot currently pay when using their VA loan benefit. [...]read moreTime is ticking for the VA to change broker payment rules
With a 67% annual increase in agent count to 16,680 agents during the first quarter of 2024, it is no surprise that The Real Brokerage also recorded an 86% annual increase in revenue to nearly $201 million. The uptick in agent count contributed to a 74% yearly jump in transaction count to 19,032 sides, good [...]read moreDespite industry headwinds, Real believes it can continue growing agent count
A coalition of four lawmakers in the U.S. House of Representatives — two Democrats and two Republicans — have come together to found the Bipartisan Congressional Real Estate Caucus, a group designed to “support policies that allow [the real estate] industry to prosper” due to its overall importance to the U.S. economy. The group, announced [...]read moreCongressional lawmakers form bipartisan real estate caucus
The business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement,will go into effect on Aug. 17, 2024, according to a letter sent to members on Friday by NAR chief legal officer Katie Johnson. Originally, the trade group had said the practice changes would go into effect in mid-July. In the letter, Johnson [...]read moreNAR settlement terms slated to go into effect in mid-August
Earlier this week, Zillow launched a new “touring agreement,” a nonexclusive contract for buyers and agents to use for home tours. The real estate giant was prompted to do this by the terms of National Association of Realtors’ (NAR) commission lawsuit settlement agreement which requires agents to have a written agreement with a client in order to work with them as a [...]read moreVirginia Realtors: Zillow’s touring agreement may not be legal
RE/MAX executives were not shy about acknowledging the uncertainty that is currently plaguing the real estate industry during the firm’s first-quarter 2024 earnings call with analysts and investors Friday morning. But despite the uncertainty and the soon-to-beimplemented business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement, RE/MAX leaders are [...]read moreRE/MAX to lean on high agent productivity during turbulent times
When HomeServices of America reached a nationwide settlement agreement last week in the commission lawsuits filed by home sellers, it became the final defendant in the two original commission cases, Sitzer/Burnett and Moehrl, to do so. Just six months ago, when a Missouri jury found HomeServices of America, Keller Williams and the National Association of [...]read moreAll parties have settled the Sitzer/Burnett suit, so what’s next?
In light of the jury verdict in the Sitzer/Burnett suit and the terms of the National Association of Realtor’s nationwide settlement agreement of the commission lawsuits, several prominent industry analysts believe Zillow will struggle with its financial performance. On Wednesday evening, during the firm’s Q1 2024 earnings call with investor and analysts, CEO Rich Barton [...]read moreZillow believes the evolution of the industry will only help it grow
A day after announcing major changes to its executive team, eXp Realty is once again shaking up its leadership. On Tuesday, the nation’s largest brokerage by transaction side count announced that it had named Kendall Bonner as its new vice president of industry relations. According to a company news release, Bonner “will focus on guiding [...]read moreKendall Bonner named vice president of industry relations at eXp