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Rising housing inventory levels in 2024 may not be the positive sign of market health that they appear to be. High inventory levels contribute to another problem as active listings are remaining unsold for longer periods. Redfin refers to these listings as “stale inventory.” ” According to the report, 54.5%
By contrast, legacy brokerages did not perform nearly as well. And among privately held brokerages, the one executing most effectively on what Compass is proving in the public markets is SERHANT. to become the first screenless brokerage. In Q4, the company reported a revenue increase of 26% year over year, reaching $1.4
The brokerage has acquired Washington Fine Properties (WFP), a luxury real estate brokerage located in the Washington, D.C., According to WFP, the brokerage has the highest average sales volume per agent and the highest average sale price in the areas where it operates. Compass has added to its roster in the nations capital.
According to a company statement, this move will strengthen the brokerage’s presence in the Carolinas. United President Rick Haase credited United Queen City for driving this expansion with excellent management practices and brokerage growth. For-sale inventory is up 17.1% in the state compared to a year ago.
Final Offer said the addition of Private Collection adds more than $1 billion in off-market inventory to its platform. “With full integration into Final Offer, buyer agents can share and comment on exclusive listings and then make offers and negotiate the transaction seamlessly within one integrated platform.”
It is unsurprising, then, that Texas has seen a boom in new real estate brokerage offices in the past five years. 1 brokerage by listing count from 2019 through 2023. The top 10 brokerages in Dallas by listing count were responsible for 12,145 listings in 2023. of the MLS listings held by these brokerages in 2019 to 7.2%
Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. In this environment of high rates and tight inventory, brokerages have had to become sharp elbowed. If not, expect brokerage competition to get even hotter.
The brokerage is giving agents at all brokerages access to Coming Soon, which houses its exclusive listings. Regardless, the three-phase market plan is building an inventory of listings that Compass can use for true exclusives should it succeed in its quest to topple NAR’s CCP.
Valuation in the residential brokerage industry has some characteristics that are unique when compared to other industries and businesses. First, the business of residential brokerage is highly dependent on the recruiting, retention and production of independent contractor sales agents. approach to value.
Leading brokerage Compass announced some key leadership moves this week to bolster its operations in the Southeast, including Florida. The brokerage has hired industry veteran Nikol Solares as senior managing director of new development marketing. It is the nation’s leading brokerage by sales volume.
On Friday, the largest brokerage in the country by sales volume announced that The Jennifer Leahy Team will be leaving Douglas Elliman to join the Robert Reffkin -helmed firm. Leahy cited access to exclusive inventory through Compass Private Exclusives as a reason for the move. Compass is strengthening its presence in the Nutmeg State.
The market grappled with low inventory and mortgage rates that gave many homebuyers a reason to pause. According to Altos Research , 2023 inventory bottomed in April at 406,206 active listings. Today, there are 100,000 more homes on the market than there were in March of last year — that’s 21% inventory growth.
26 in Dallas to hear her full session on real estate brokerage economics. I do not think this trend will go away overnight, even with mortgage rate stability and new inventory in the market. JL: Housing inventory has been climbing in recent months. JL: Even with new housing inventory, affordability continues to be a challenge.
In 2021 , Zillow made the switch from individual syndication agreements with brokerages to IDX feeds, allowing it to obtain data directly from MLSs. VOWing to find a solution Prior to IDX feeds, virtual office websites (VOWs) were the first iteration of brokerages putting listing data online. These can be provided by their broker.
In real estate brokerage, growth is the name of the game and for 2024 (based on 2023 data), The Real Brokerage and The Agency are winning that game. The 2023 housing market was a period of uncertainty with low inventory and industry challenges. Berkshire Hathaway HomeServices RW Towne Realty also had a strong showing.
Access your growth playbook From the pandemic-fueled frenzy to the sobering reality of a post-pandemic slowdown,, real estate brokerages were locked in a relentless quest for growth—eager to expand market share while trimming operational fat. However, RealTrends GameChangers defied the odds and outperformed their peers.
More inventory can bring down prices, but some renters still struggle to meet the rental price hikes found in new construction. Seattle-based brokerage Redfin released a report this week that highlighted a 1.5% If new apartment rent prices continue to rise, then growing new apartment inventory may not help certain workers.
With market uncertainty, real estate agents had been sticking with their current brokerage., While inventory is still low, professionals are seeing light at the end of the tunnel. According to Relitix’s Agent Movement Index continues to rise on a seasonally adjusted basis as agents begin switching brokerages at a faster rate than 2023.
Nearly two-thirds (64.7%) of homes on the market in June had been listed for at least 30 days without going under contract, according to a new report from Redfin, a technology-powered real estate brokerage. This trend is contributing to a glut of unsold inventory. The rise in stale inventory is most pronounced in Texas and Florida.
The allure of the name recognition of large national brands is causing many independent brokerages to affiliate as mortgage rates rise and housing inventory remains low. The brokerage, which was founded in 1976 by Gene Boone, will now be known as RE/MAX Foxfire. “We
The 2021 real estate market was one for the ages: record low interest rates and housing inventory gave way to record high home prices and sales. Capitalizing on these market factors, brokerage firms in the 2022 RealTrends 500 brokerage rankings broke records in market share, closed transaction sides (there must be inventory somewhere!)
But when it comes to the financial performance of their brokerages, industry analysts don’t believe the changes will be the end-all, be-all. “It But an advantage could potentially be given to brokerages that put concerted effort into helping their agents be more efficient and productive. 17 — are top of mind. Tomasello asked. ”In
Now, as brokerages experiment with private listing networks (PLNs) and MLS s push back, another fight has emergedwho should control where and how listings are shared. Brokerages hoard exclusive listings to drive traffic to their own sites. MLSs, portals, and brokerages can fight for dominance all they want. The argument?
The survey was conducted by Ipsos between December 2024 and January 2025, polling 500 agents from various brokerage s across the country. Low housing inventory (42.8%) and shrinking commissions (42%) also ranked high on the list of concerns. Affordability remains the biggest challenge agents foresee in the next five years, with 64.2%
She wrote that removing CCP in its entirely would be harmful to home buyers and sellers alike because some brokerages will hoard private listings, making them available only to consumers who work with one of their agents. Lane offered more thoughts in her op-ed.
However, a growing number of brokerages now use office exclusives as a core business strategy, aiming to generate interest before transitioning a listing to the public MLS, the report states. In March, Compass began giving agents at all brokerages access to Coming Soon, which houses its exclusive listings.
Real estate professionals throughout the state attribute the resilience of the state’s housing market to its perpetually low inventory problem. Inventory is almost nonexistent,” said Melissa Kingsbury , a Redfin agent who works in the southwest suburbs of Chicago. “If As of Feb. Across the state, as of Feb.
Zillow said Thursday that more than 50% of its remaining iBuying inventory “has sold, is under contract to sell or has reached agreement on disposition terms.”. The over 50% inventory being moved is more than half of the 18,000 number, a company spokesperson said Thursday. billion as of Sept.
the M&A-hungry parent of cloud-based real estate brokerage Fathom Realty , achieved supercharged growth in 2021. Leaders optimistic about future of brokerage. The brokerage’s agent count also grew 48% year over year to 8,100 agents. Fathom Holdings Inc. , million, representing 9.5% of total revenue for the quarter.
For the study, Redfin-commissioned Ipsos to survey 500 agents from various brokerages, conducted between December 2024 and January 2025, identifying several key themes currently shaping the industry: Declining agent satisfaction: Fewer agents recommend real estate as a career. rating it as a major concern.
Ryan Serhant and his brokerage SERHANT. HousingWire real estate reporter Jeff Andrews sat down with Serhant to talk about the show, how it changed his life and the brokerage, and what he sees coming in the industry following the commision settlement by the National Association of Realtors (NAR). At this point, we’ve gained, I think, 1.3
There is no question that the headline of the year in 2023 for many publicly traded brokerages was the commission lawsuits. With mortgage rates trending downward in recent weeks and economists expecting them to further recede in 2024, analysts are feeling guardedly optimistic about how the publicly traded brokerages will perform in 2024. “I
Hes also made no secret of Compasss interest in building an inventory of exclusive listings to make the brokerages site a destination for home shoppers. The brokerages plan begins with Private Exclusives, which come up in search results but arent directly advertised.
After all, this has been an issue dominated by the loudest voices in the room, most of them executives for major corporations and brokerages. On the one hand, I was eager to see the results. Its easy to lose touch with what matters to the people that are much closer to the buying and selling process.
31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. Finding an agent Like 43% of homebuyers , I began my search online, as I worked to get a sense for what the inventory in my preferred areas and in my price range looked like. Funny you should ask.
31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. Stubbornly high interest rates, low levels of inventory and elevated home prices are putting a strain on the often-limited budgets of first-time buyers. It is no secret that many first-time homebuyers are struggling.
Whether it be rates, inventory, those challenges are going to persist,” Kelly said. But while some brokerages are looking to achieve this goal while trying to be a firm for every type of agent, Kelly said HomeServices will continue to focus on the types of agents it has always served best.
The HousingWire Pulse Survey for Q4 2024 provides valuable insights into the current state of the real estate market from various perspectives: brokerage leaders, mortgage professionals, and real estate agents. Brokerage Leaders Increasing per-agent production : 26% highlighted this as a significant challenge.
In its announcement, Splitero said the move aims to combat rising living expenses and inventory shortages in housing markets nationwide. The company also operates its own brokerage Splitero Homes for homeowners who already work with Splitero. This move follows a mid-November 2024 expansion to Arizona. .
Our position has never been to dictate brokerage business models, Brian Donnellan, the president and CEO of Bright MLS, wrote in an email. The MLS is really important for me, my brokerage and my agents to do the best job that we can for consumers, because to do that job we need to have access to all of the available listings.
Housing Market Supply and Demand: An analysis of housing inventory trends and construction pressures affecting pricing and availability. Stone also served as Vice Chairman of Metrocities Mortgage, and as Chairman of The Stone Group, an Austin, Texas-based tenant-represented brokerage company. Dr. Bill Conerly has a Ph.D.
New York City -based brokerage SERHANT. Under Alese, the brokerage secured a number of major new developments, primarily in Manhattan , Brooklyn and South Florida. billion in inventory, The Real Deal reported. Before joining SERHANT.
Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. According to the brokerage, 6.5% homes for sale posted a price cut during the four weeks ending September 24, up from 5.8% the month prior.
The brokerages strategy? Attract more buyers with exclusive listings, said CEO Robert Reffkin.The gap between Compass and the industry will only accelerate.
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