Key Highlight Compass, a residential brokerage, filed draft IPO registration statement with US Securities and Exchange Commission LoanDepotfiled for initial public offering (IPO) within last week as well Both Compass and LoanDepot announced this last week that their respective companies had filed statements with the US Securities and Exchange Commission (SEC)to “go public” via Initial Public Offerings or IPOs.  Both of these...

Key Highlights Redfin found national median home price jumped to $335,519 in November, +14% higher than one year ago and biggest annual gain since July 2013 Record 35% of homes sold over asking price Average days on the market hit record low of just 27 days Not only has the COVID pandemic inflicted economic, income and job losses for untold millions...

Key Highlights This is the third deep dive into agent compensation models according to Inman’s 2020 Agent Appreciation Survey In Part III of this multi-part series, we’re focusing on Inman’sthemes of defending your commission, ongoing compensation lawsuitsand compensation isn’t only about money Let’s get to the final “themes” regarding commission models in Inman’s 2020 Agent Appreciationsurvey: defending your commission, ongoing...

Key Highlights Revived Paycheck Protection Program (PPP)off to smoother and slower start than its springtime original relief loans to small businesses Program opened last week with applications from all lenders In first week, 60,000 applications approved for some $5B One of the most popular programs within the massive CARES Act passed last spring in response to the COVID pandemic was the Paycheck...

Key Highlights Inman’s 2020 Agent Appreciation survey dives deep into agent compensation models Part II of this multi-part series focuses on themes of non-compensation income modelsand pressure on compensation Inman just released its second annual.2020Agent Appreciation survey.  Because agent and brokerage compensation is such a hot topic, we are focusing on summarizing the rich diversity of compensation models in the real...

Key Highlights As of two weeks ago, Zillow’s website now officially powered by IDX feed Shift to IDX falls on heels of Zillow’s shift to becoming brokerage in September 2020 Zillow recently announced a shift to MLS Internet Data Exchange (IDX)  for its listing data as a “…mission to simplify and streamline real estate transactions and deliver a more integrated experience to customers,”...

Key Highlights New lease signings in Manhattan fell -13% in December 2019 According to Jonathan Miller, president of Miller Samuel Appraiser, rents surpassed “threshold of affordability” in December 2019 New lease signings in Manhattan hit +94% in December 2020 Like most everything else, New York City’s real estate market in 2020 was “unprecedented.”  Once March’s pandemic shutdown took hold of NYC’s...

When you listen to today's Real Estate Coaching Radio featuring Tim and Julie Harris you will learn their exclusive buyer agent system. The goal of this system it to present to the buyer why they want to work exclusively with you. What are your USPs (unique selling propositions)? What happens if the buyer wants to buy a FSBO? What...

Key Highlights According to latest Inman research, there is great variability in agent commission models New commission models evolving Intense downward pressure on commissions Inman research defines main themes of agent commissions Commissions are always hot conversational topics in the real estate industry.  Since, according to the latest research by Inman for its second annual Agent Appreciationsurvey,both agents  (87%) and brokerages  (81%) make...

Key Highlights US Labor Department reported 961,000 workers filed first-time claims for state unemployment benefits One year ago during same comparable week, initial unemployment claims totaled 282,000 Initial claims for Pandemic Unemployment Assistance program hit 424,000 claims compared to 285,000 claims previous week New Claims For Unemployment Benefits New claims for unemployment benefits remained high with a total of 961,000 workers filing initial...