At Inman Connect Las Vegas, Redfin CEO Glenn Kelman described an increasingly complicated commission landscape and the shift brokerages and portals must make
JND Legal Administration, the company tapped by lawyers to oversee administrative tasks around the Gibson settlement, sent mail out to millions of potential class members earlier this year
Almost two-thirds of homes that were for sale in June had been listed for at least 30 days without going under contract. That figure is the highest share of any June since 2020
Rising home prices and mortgage rates, and sticker shock from surprise housing costs, pushed buyers to cancel 56K home-purchase agreements in June, according to Redfin
Housing affordability will remain an issue at the forefront of the upcoming presidential election, where swing states will determine the next president and the future of housing costs
Amid slowing homebuyer demand, the US median sales price rose to an all-time high of $397,482 at the beginning of July. However, Redfin says a slowdown may be on the way
Some Northeast and Midwestern markets saw double-digit increases in median asking rent, according to new data released Tuesday
Florance says Realtor.com lawsuit against CoStar is a response to Homes.com surpassing it in web traffic and takes aim at Zillow
Rising interest rates and market saturation have caused multifamily builders to slow the rate of new projects, according to a Redfin report published on Tuesday
Howard Hanna is the latest brokerage to be hit with a buyer commission suit seeking class-action status
‘Competitors should never be allowed to cheat and steal to get ahead,’ Move, Inc. attorneys claim in a new suit alleging an ex-Realtor.com employee maintained access to the data while at CoStar
The complaints, filed by a San Diego resident, seek class-action status and accuse the real estate companies of violating state and federal privacy laws due to their use of third-party tracking pixels
The typical home sold for 0.3% less than the original asking price in the past month, according to a new report from Redfin
The partnership will give larger multifamily rental operators access to Moody's data on topics such as rents, vacancies and inventory
Defendants in the buy-side case, which also includes Weichert Realtors and United Real Estate, say the claims lack standing, are untimely and an attempt to 'parrot' arguments made in Batton 1
The case still names Compass, eXp, Redfin, Weichert Realtors and United Real Estate Group as defendants after Howard Hanna was previously released
Joshua brings more than 25 years of experience in sales leadership to his first role in the multifamily real estate sector
The median United States asking rent rose 0.8% year over year in May to $1,653, the highest it's been since October 2022, according to data from Redfin
Even in a down market, companies can uncover key insights to grow market share, Mike DelPrete writes, as long as they have the cash to invest
4 days after Bing Real Estate came under fire for its alleged co-opting of listing data from Zillow, Redfin and Realtor.com, Microsoft has removed for-sale listing data from its site
Hal Bennett is based in the Seattle metro area. He joins Compass as brokerages continue to compete for top agent talent
Industry watchers are sounding the alarm about Microsoft's Bing Real Estate, a site that for months has been reposting listings from Zillow, Realtor.com and Redfin without explanation
Sluggish homebuyer activity has pushed sellers to slash prices at a rate unseen since November 2022, according to Redfin. The median asking price fell for the first time in 6 months to $416K
The upending of NAR's cooperative compensation rule is a double-edged sword for Zillow and its rivals, experts told Inman. These are the tools and tactics they're adopting to suit the moment
The 'List My Home for Rent' tool is available in 13 US markets and is tailored to property owners with fewer than 10 rentals. Listings will be syndicated to the Rent.com marketplace later this year
A new report found that 33.4% of single-family homes for sale in the United States during the first quarter were new builds
With the expansion, Redfin Next is now available to agents in 36 markets nationwide, according to an announcement Friday. Redfin execs said the plan has 'proven to be even better' than expected
A solid Q1 earnings report has Redfin CEO Glenn Kelman feeling confident. However, persistent market headwinds are keeping the CEO from being too bullish
Real estate’s Q1 earnings are in. From CoStar’s revenue surge to Opendoor’s slump, we have all of the highs and lows
Households with a median income of $64K or less lost their buying gains in 2023, according to Redfin. The share of new mortgages issued to this group dropped 11% from 2020 to 2023
Seattle-based Redfin's revenue increased 5% year over year to $225.5M — beating projections of $218.1M. Still, the company is struggling to control net losses, which grew nearly 10% from 2023
Rising population rates and a shrinking racial wealth gap have led to a rise in new mortgage applications among homebuyers of color, according to Redfin's latest report
Ask Redfin is now available nationwide on Redfin's iOS home search app. Ask Redfin can answer a range of questions about listings, market trends and much more
Redfin CEO Glenn Kelman said rising rates and home prices are crushing consumer sentiment. However, rising inventory and a year-end interest rate cut will be key to restoring it
The Gibson and Umpa cases allege Berkshire Hathaway Energy, eXp, Redfin, Weichert, United Real Estate, Douglas Elliman, HomeSmart and others conspired against homesellers nationwide
Historic rises in median sales prices and mortgage rates have locked homeowners into their homes, according to a new Redfin report. Baby boomers are least able to afford today's market
With a recent boost to inventory and steady demand for high-end properties, luxury homeowners are cashing out existing homes and using cash power to buy a new one, fueling price growth
70% of Florida homeowners or the area in which they live have been impacted by changes to cost or coverage of home insurance in the last year, according to a report issued Wednesday by Redfin
Thirty-eight percent of renters don't believe they will ever own a home — up from 27 percent less than a year ago, according to Redfin
Economic headwinds and a holiday weekend caused new listings and home tour requests to fall at the end of March, according to Redfin's report. The portal is still bullish on future spring activity
36% of Gen Zers and millennials who plan to buy a home in the near future intend to use a cash gift from family to contribute to a down payment, according to data from Redfin released Wednesday
Redfin Next is available to agents in 7 major markets across the South, Midwest and East Coast. Redfin execs say it will help them navigate market 'ups and downs,' including NAR's settlement
More than 90 brokerages would not be covered under the $418M deal, though most have the option of buying in
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CoStar Group's residential portal is having a stellar week as a February traffic boost and NAR's proposed commission settlement encouraged analysts to upgrade their outlook on the company
As the first day of spring arrives, 3 economists shared with Inman why headwinds will continue to plague the housing market in 2024, long after a recovery was expected to revive US home sales
The median asking rent in the United States rose 2.2% year over year to $1,981 in February, the largest annual gain since January 2023 and a 0.9% increase compared to the month before
The generative tool is designed to assist consumers, and anyone looking for a home in the US can opt in to be a part of the early launch phase
Amended complaint alleges Warren Buffett's company abused the trust inspired by his name to encourage homesellers to use HomeServices and further alleged price-fixing conspiracy
Seattle-based Redfin's revenue declined 2% year-over-year for Q4 and 11% year-over-year for the full year. Still, the company saw improved gross margins and net losses
California resident Andrea Freedlund is suing on behalf of homesellers who paid a buyer agent in the 4 years before Redfin announced it was leaving NAR, according to a suit filed in federal court
Angela Boykin is suing over a home sale from 2022. Her case is the 2nd such recent lawsuit out of Nevada and adds to the growing number of cases that have followed the Sitzer | Burnett verdict
CoStar Group founder and CEO Andy Florance called Zillow, Realtor.com and Redfin pushback against Homes.com traffic numbers 'bait and switch' business tactics
The Federal Reserve's policy shift depressed homebuyer and homeseller activity in January, according to Redfin. New and active listings both fell from December levels
The typical homeowner in 2024 has spent 11.9 years in their home, up from 6.5 years in 2005, according to Redfin data
The Mediterranean-style home in Florida was once owned by Bob Ross Inc. and hosted art retreats for Bob Ross-certified instructors and their students. Now it's for sale for $1.999M
Although 26% of low-cost homes were purchased by investors during the last three months of 2023, the share of homes bought by investors fell
Redfin will provide air quality risk data for every listing on its app and website, alongside data for wildfire, flood, wind and extreme heat
A record one-day jump in mortgage rates on Feb. 2 pushed pending sales down 8 percent — the biggest decline since October, according to Redfin's latest market report
Although affordability is still the No. 1 factor in most homebuyers' moves, 2 surveys from Zillow and Redfin reveal politics and romance also play a role
Strategic migration, low inventory and a demand for larger spaces have also contributed to rising luxury prices, agents told Inman, depending on the specific market
The new 'Sign and Save' program promises homebuyers a refund of 0.25% to 0.5% for signing a buyer agency agreement
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers
At ICNY, proptech leaders Eileen Romito, Derek Hooper and Catharine MacIntosh explained how MLS rules led to the rule of real estate portals, and what can be done to take the power back
Realtor.com CEO Damian Eales addressed the traffic rivalry with Homes.com and why competition is good for agents and consumers
Intel is highlighting the most important data releases and events slated for each month of 2024 in an effort to help industry observers follow the arc of residential real estate's rebound this year
A federal court judge denied a request from the defendants to suspend the case pending the outcome of post-trial motions after the Sitzer | Burnett verdict
Empty nest baby boomers own 28.2% of the large homes in the United States — twice as many as millennials with kids. Gen Z parents own only 0.3% of larger residences
Dan Troup will lead a company founded by brokerages and MLSs, which aims to build an alternative to big portals such as Zillow and Realtor.com
Mortgage purchase applications and new listings have improved in recent weeks, thanks to a 25% decline in mortgage rates from October's peak of nearly 8%
After rates fell from October highs, homebuyers with a new mortgage are paying about $400 less each month. Still, there's no buying spree — yet
The share of US homebuyers looking to move to a different city declined for the 3rd straight month in November, according to a new report from Redfin
Sitzer | Burnett and its verdict cast a long shadow that will extend into 2024 and potentially shake up the real estate industry. But it wasn't the only lawsuit with commissions in the crosshairs
Listings and pending sales hit the highest level in roughly a year, according to a new report from Redfin. Still, a record number of contracts were canceled
According to Mike DelPrete, high debt, low cash and a lack of profitability in its business model call into question Redfin's current trajectory and its plans for the future
New commission-based model, Redfin Next, is now available to agents in San Diego and Orange County. Agents keep their W-2 status and benefits while getting commission splits of up to 75%
In partnership with Roomvo, the brokerage and search portal's new Redfin Redesign tool grants homebuyers the ability to alter room finishes while alerting agents to a buyer's growing interest
Expect the portal wars to go into overdrive in 2024, with CoStar Group leading an ambitious effort to unseat Zillow as the country's top real estate portal, technology advisor Mike DelPrete writes
The company is the latest of several to step away from the National Association of Realtors, which has suffered both a scandal and legal defeats in recent months
A dip in the weekly average for 30-year mortgage rates dropped the average mortgage payment to $2,575 in November, and homebuyers are taking advantage
The tool is described in an announcement from the brokerage as similar to the Case-Shiller Home Price Index, but with more real-time and metro-level data
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
Home-listing portals all rely on the same source for school ratings, which are treated as essential by many homebuyers. If used improperly, critics fear the data could lead to Fair Housing violations
'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
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
Redfin CEO Glenn Kelman said at Inman Connect on Wednesday that pressure from lawsuits and the Department of Justice may ultimately lead to 'a different world' than the one that exists today
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
Redfin will still classify agents as employees but, beginning next year, will transition those in some California markets to an all-commission-based pay program
Homebuyers are backing away from the market as mortgage rates continue to climb. But new listings aren't declining as quickly, Redfin reports
Among the proposed changes, Anywhere said its company-owned brokerages, franchisees and affiliated agents will no longer be required to belong to the National Association of Realtors
An attorney for the Sitzer/Burnett homeseller plaintiffs calls the change a 'stunning admission of guilt' on the eve of a class-action trial set to start Oct. 16
Redfin survey reveals LGBTQ+ consumers disproportionately struggle with lack of family support during homebuying due to heteronormative expectations for marriage and household formation
Economists, homeowners and agents broke down the alarming but true cost of buying property in 2023, telling Intel that rising rates and home prices are only the start for wallet-stretched buyers
CoStar CEO Andy Florance dished with Intel about the commission lawsuits, Zillow and NAR as Homes.com nabbed 100M unique visitors for the first time ever in September
In a sign of the listing portal's growing influence, Homes.com hit more than 100M unique visitors in September, sparking a 1,290% annual increase in traffic. Now the portal is second only to Zillow
In a message to employees on Monday, Redfin CEO Glenn Kelman cited NAR's harassment scandal and other grievances as reasons for calling on 1,800 Realtors to cancel memberships
Redfin CEO Glenn Kelman said Tuesday on CNBC that as sales continue to decline, the company will need to cut costs strategically and respond to economic challenges one day at a time
People are concerned about the changing climate's impact on their hometowns, but they're more concerned about a lack of housing affordability, according to a new report from Redfin
Nearly 60,000 home purchase contracts were canceled nationwide during August, even when it meant losing their earnest money deposits, according to Redfin's report
In-office requirements were identified as an emerging factor in the real estate market, as fewer and fewer companies are willing to accommodate remote work, according to a report by Redfin
Mortgage-rate locks on second homes were down 47% from pre-pandemic levels in August as market factors have made owning a second home more costly and complicated in the last year
At $2,052, the median monthly rent remains near its all-time high. But builders are wrapping up construction on thousands of new units, and rents could start falling soon
Some 12.3% of San Francisco homesellers who sold their homes during the 3-month period ending July 31 lost money on the sale
Phoenix, Las Vegas and other Sunbelt metro areas saw the biggest slowdowns in investor activity as high rates and low demand cooled activity nationwide, according to reports
In a memo to employees, Redfin CEO Glenn Kelman said the 15-year veteran of the company will serve as an advisor after his final day on Sept. 8. Redfin has no plan to fill the vacated position
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
Pending home sales rose 0.7% from June to July, reversing 7 months of declines. However, rising rates and home prices are poised to stifle sales growth into the fall, Redfin said on Friday
Homebuyers have been dropping out of the market. Of the ones who are still in, more are eyeing a cross-city relocation, Redfin data suggests
Nearly 3 years after 'Saturday Night Live' declared 'real estate is your sex now' in a popular Zillow parody, mind share around the industry is sagging, according to an Intel analysis of traffic data
Experts expect US companies to adjust remote work policies in the coming 6-12 months as office market suffers. 'Our cultures are different around work-life balance,' said CBRE's Julie Whelan
As the luxury brokerage continues to expand its Midwestern presence, it has strategically moved into Kentucky with Managing Partner Jason Farabee leading the new office, the company said
Redfin CEO Glenn Kelman on Wednesday told MarketWatch that current transaction levels — sustained primarily by people who absolutely need to move — are about as low as they ever get
Residents in Florida and Texas would rather live in states with abortion care and LGBTQ rights, but affordability worries force them to stay in their current states, according to a new Redfin survey
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
The share of US homes valued at $1M or more stopped shy of a record notched last summer as high mortgage rates and low inventory drove home prices upward in June, a Redfin analysis shows
The total worth of homes in the United States hit a record high of $46.8T in June, overtaking the prior all-time high of $46.6T set a year earlier, according to the analysis by Redfin Friday
Redfin Senior Director of Brokerage Operations Joe Rath and NextHome CEO James Dwiggins said during an Inman Connect panel that pocket listings have proliferated since Clear Cooperation
'This is not a time to stabilize. If you stabilize in a market like now you're going to fall behind. You have to grow,' Redfin's Jason Aleem said at Inman Connect Las Vegas Wednesday
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
So you've decided to join us at Inman Connect Las Vegas. Bravo! Here's a day-by-day breakdown of the conference along with some tidbits to get the most out of your week in Sin City