The monthly National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) for builder confidence fell three points to 29 (out of 100) in October, marking the lowest builder confidence in the market since June 2012. NAHB attributed the historically low measure of builder sentiment to rising mortgage rates, energy and material costs, and…
In an entirely expected move last Friday, Oct. 16, Compass filed a federal antitrust lawsuit against California-based CRMLS, asking a judge to prevent the MLS from enforcing its “mandatory submission” policies that the brokerage argues violates antitrust policies. As it has continued to campaign for changes to certain MLS policies, a Compass spokesperson told RISMedia…
Just one day before the case was to go to trial, eXp managed to evade court as a partial settlement was reached. In the settlement filed Oct. 18, eXp agent Anya Roberts officially reached a confidential settlement which resolves all claims against eXp Realty, Founder Glenn Sanford and parent company AGNT, Inc. The settlement only…
Back in 2022, half a dozen women came forward and filed a civil lawsuit against eXp Realty and its founder, Glenn Sanford, claiming that two “alpha agents” (Michael Bjorkman and David Golden) drugged and sexually assaulted them at company events. The women argued that Sanford and other eXp leadership ignored their complaints, as well as…
Above: Howard Hanna Real Estate Services CEO Hoby Hanna. Photos by AJ Canaria. There’s a sea change confronting the residential real estate industry, and Hoby Hanna isn’t mincing words: “Brokerage is not enough anymore. Not for Howard Hanna, not for your company, not for our agents, and ultimately not for the consumer.” Hanna delivered this…
Just two months after the Federal Trade Commission (FTC) settled its lawsuit with Zillow and Redfin over the two portals’ alleged anti-competitive agreement, two U.S. Senators have issued a new letter petitioning the organization to take aim at alleged anti-competitive practices on the home-buying side of portals. Senators Elizabeth Warren and Cory Booker penned the…
Mortgage rates held steady this week, remaining unchanged from last week but still lingering at a near three-year high–a level one economist says is having a “chilling effect” on the housing market. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average 30-year fixed-rate mortgage rate remaining at 7.40%, the same level…
The Iran War continues to weigh heavily on the economy and the housing market, with mortgage rates returning to the 7% range as inflation remains elevated. With rates now peaked at nearly a three-year high, a new report from Redfin found that housing affordability is once again being eroded and home sales are paying the…
Editor’s note: This is the third of a three-part series on how agents earn recommendations and referrals from AI. Read part one here and part two here. When a prospective buyer or seller asks someone they trust to recommend a real estate agent, you want your name to be the first one mentioned. What happens…
Above, from left: John Featherston, Leo Pareja, James Dwiggins. Photo by AJ Canaria. Consolidation has been one of the most talked about trends in real estate this year—and the conversation continued at RISMedia’s 38th Annual CEO & Leadership Exchange when Leo Pareja and James Dwiggins joined John Featherston on stage to dig deeper into eXp…
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