“I can prove anything by statistics except the truth.” That witticism, attributed to 19th century British orator and statesman George Canning, highlights something that remains extremely relevant today in the information age. While we have nearly unlimited access to data and analysis, they aren’t always—or perhaps often—leading us closer to the answers we seek. Case…
Redfin has formally—and publicly—asked Washington-based Northwest MLS (NWMLS) to change its rules and allow home sellers to pre-market their properties. The request, detailed in a letter from Joe Rath, Redfin’s Head of Industry Relations at Rocket Companies, challenges what critics have called one of the most restrictive policies around public marketing across the MLS landscape.…
Compass is big—historically big. That is something that no one in the industry is disputing. After its acquisition of Anywhere and all that company’s brands, Compass International Holdings (a new parent company overseeing all these new subsidiaries) oversees somewhere in the range of 80,000 agents, who collectively closed half a million transactions last year. What…
So-called “premarket” listings appear to be the next big trend for the industry. Zillow’s recent pivot to host what are essentially “Coming Soon” properties (and a mad rush by brokers to strike deals with the portal or other consumer platforms) was an overwhelming affirmation that real estate believes that, to some degree, limited marketing options…
Just under nine months after filing a bombshell lawsuit against Zillow, Compass is dropping its legal challenge after the portal quietly modified its “Listing Access Standards” yesterday. The lawsuit had claimed that Zillow conspired with fellow portal Redfin to prevent Compass from implementing its “three-phased marketing plan” that involves a private listing phase. Last April,…
Editor’s note: This is part two of a two-part story examining the impact of the Redfin-Compass deal. Read part one here. “Real estate isn’t a transaction. It’s a process.” Those words, from Compass CEO Robert Reffkin on the company’s recent earnings call, were in response to a question about how Compass agents can communicate value…
Editor’s note: This is part one of a two-part story examining the impact of the Redfin-Compass deal. Look for part two in the coming days. “The future is bright. Look forward to building it with you.” Those words, from Compass CEO Robert Reffkin to Rocket Companies CEO Varun Krishna, have a little bit of subtext.…
When the Compass-Anywhere deal closed in early January with little fanfare—only three months after it was announced—there were at least some raised eyebrows. A deal of that magnitude often elicits significant regulatory scrutiny, with multiple federal agencies given a chance over the course of months to examine how a merger will affect markets or whether…
As Compass moves forward following the closing of its industry-shaking acquisition of Anywhere, the brokerage’s founder and CEO announced that Neda Navab, his former chief of staff and most recently leader of brokerage operations, has been appointed the new president of Compass Real Estate. With the company reorganizing to absorb Anywhere and Reffkin taking the…
U.S. District Judge Jeannette Vargas of the Southern District of New York has denied Compass’s request for a preliminary injunction against Zillow’s new listing rules (what it calls “Listing Access Standards”), allowing the portal’s new rules to remain in effect while the broader antitrust lawsuit plays out. The decision delivers a significant legal setback for…
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