The real estate industry is consolidating around national MLS platforms like MRED and Realtracs. On the surface, it’s a straightforward story; bigger platforms offer better technology, lower costs and easier operations for brokers who work across multiple states. But when you talk to the brokers actually managing this transition, a different picture emerges. The shift…
The June 8 deadline for Zillow to fall in line with Realtracs’s updated listing rules came and went on Monday, with no immediate disruption or impact on listings. Rather than suspend Zillow’s access to its MLS data feed as it had threatened, Realtracs said negotiations with the portal remain active and will continue beyond the…
The labor market remains in good standing, beating out economist expectations for another month in May as the rest of the economy continues to waiver under the pressure of geopolitical uncertainty. The latest Employment Situation Summary from the Bureau of Labor Statistics saw the U.S. add 172,000 jobs in May, “well above forecasts ranging from…
Late last year, Bright MLS General Counsel Brian Schneider was doing what millions of people do every day—asking AI large language models (LLMs) like ChatGPT, Claude and Google Gemini for information on real estate listings. But Schneider’s motives were very different from the average consumer. As part of a regular review process, Schneider was checking…
When shopping for a home, it’s easy to focus on the details of the property itself—from the number of bedrooms and bathrooms to total square footage. But finding the right home is about more than what’s within its four walls. It’s also about the community that surrounds it. A strong sense of community can provide…
Antitrust has been a loaded topic in real estate since at least the commission lawsuits of the 2020s that alleged many foundational rules and practices in real estate violated antitrust laws, and the Department of Justice (DOJ) launching its own parallel inquiry. Now, federal agencies are looking to review and revise existing antitrust guidelines, the…
Above, Brian Donnellan, left, and Brian Schneider In an op-ed published earlier this month, Brian Donnellan, CEO of Bright MLS, referred to much of the recent industry upheaval as “noise.” Partnerships, consolidations, new entrants—all things that “sidestep” issues that directly affect real estate professionals, he argued. Also in that op-ed, Donnellan revealed that Bright was…
The housing market continued to cool in March, with home prices posting yet another weak annual increase, according to the latest S&P Cotality Case-Shiller National Home Price NSA Index released Tuesday. The March S&P Cotality Case-Shiller Home Price Index saw a 0.7% year-over-year gain in home prices, down from a 0.8% rise in February. Month-over-month,…
Above, left to right: Zillow CEO Jeremy Wacksman, MRED CEO Rebecca Jensen and Compass International Holdings CEO Robert Reffkin Against the backdrop of a nationwide fight over listing access, data control and marketing strategies, Chicago has become a flashpoint, with MLS Midwest Real Estate Data (MRED) recently cutting Zillow off from its listing feeds, ostensibly…
Zillow is asking a federal judge for emergency relief after Chicago’s dominant MLS, Midwest Real Estate Data (MRED), cut off access to more than 30,000 residential listings, a move the online real estate platform characterizes as an illegal retaliation orchestrated with competitor Compass. In a motion May 21 in the U.S. District Court for the…
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