After recently aligning with REMAX in June for its first major coup, the American Real Estate Association (ARA) announced on July 28 that Compass International Holdings has officially joined the organization. As with REMAX, agents affiliated with Compass’s portfolio of brands will have the choice to become members of ARA. This landmark move gives agents…
A judge dismissed a class-action lawsuit against Zillow and a real estate brokerage, saying that lawyers representing homebuyers who used Zillow’s mortgage services or were referred to agents through the portal’s lead-selling service did not meet the legal standard to move forward. Plaintiffs had alleged that Zillow’s practices were deceptive, violating RESPA, racketeering and consumer…
The battle over private listings is playing out nearly everywhere—from statehouses and courthouses to brokerage offices and Wall Street boardrooms. As opponents and supporters of the practice make their cases, the debate looks vastly different depending on the venue. But one tool that is nearly always effective is data. And as the practice draws more…
If the last few years have taught real estate practitioners anything, it’s that the housing market is anything but predictable. The COVID-19 pandemic threw what can only be described as a massive wrench into many of the “typical” trends of the market. So many ways in which housing worked, behaved or cycled shifted, or went…
A federal congressional committee sent letters to Compass CEO Robert Reffkin and MRED CEO Rebecca Jensen in relation to their partnership, scrutinizing the relationship between the nation’s largest brokerage and the Chicago-based MLS that is already at the center of a federal lawsuit. The letters were penned by a subcommittee of the House Judiciary Committee…
Homeowners living in predominantly Black and Hispanic neighborhoods are paying hundreds—even thousands—more per year for the same homeowners insurance coverage as homeowners in white neighborhoods, according to a new research report from the Consumer Federation of America (CFA). The nonprofit research and advocacy group found that the average cost of homeowners insurance rose by 24%…
In yet another major escalation in its effort to re-shape the foundations of real estate, Compass filed a cascade of state-level ethics complaints Tuesday through 30 Realtor associations, at least 50 MLSs and real estate regulators across 26 states, targeting Zillow and focusing on allegedly misleading property designations on listings. A source with direct knowledge…
According to a regulatory filing yesterday, Real’s bid to purchase REMAX for $880 million is moving forward—as far as the Department of Justice (DOJ) is concerned—with a waiting period created to allow antitrust review of big corporate mergers passing today. In the statement filed with the Securities and Exchange Commission (SEC), Real said that the…
The last time Google dipped a toe into real estate search, it walked away. Now, it’s going all in. The search giant announced it was expanding its real estate listings pilot to all 50 states this summer, powered by a partnership with data firm HouseCanary. As more brokerages and MLSs sign on to the initiative…
In a supplemental post-hearing brief filed by defendants Midwest Real Estate Data (MRED) and Compass, the defendants argue that Zillow is not entitled to relief because “any harm, if it exists at all, is self-inflicted.” “If Zillow wants MRED’s feed, the ‘lifeblood’ of its business that it receives virtually for free, all Zillow has to…
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