Inman
Real Estate News for Realtors and Brokers
CoStar Group tallies Q1 revenue growth on success of Homes.com
The Virginia-based commercial and residential real estate behemoth released its first-quarter earnings on Tuesday, which revealed the company grew its revenue 12 percent year over year to $656 million. The company remained profitable, although its net income dropped 91 percent from $87 million in Q1 2023 to $7 million.
With Matterport buy, CoStar makes it a ground game
Digital twin creation company Matterport has sold to CoStar, parent of home search experience Homes.com and Zillow's chief rival. The deal stands to greatly increase the amount of industry data available to the company for use in its appeal to both real estate agents and consumers.
UHM revamps leadership team to support growing national footprint
Ohio-based Union Home Mortgage boosted its market share by acquiring Amerifirst Home Mortgage. Now it's got a new divisional leadership structure to support its "rapidly expanding, nationwide footprint."
Corcoran agent finds her home fraudulently listed on Airbnb
Sarah Stewart only learned her Hamptons vacation home was fraudulently listed on the rental platform after someone called her to confirm that they should wire $25,000 outside of the Airbnb platform.
Be everywhere with Adwerx’s latest digital advertising solution
Adwerx's new product involves customers being able to showcase their brands, messages and services on alternative public digital displays, such as retail map kiosks, bus stop screens, office building information panels, digital billboards and anywhere else that a consumer looks for information.
WeWork creditors urge consideration of Neumann’s offer
The company's unsecured creditors seem to be tiring of its piles of debt, and say that to not seriously consider the ex-CEO's generous bid on the company is "inexcusable."
38% of homeowners couldn’t afford their home in today’s market
Consistent home price appreciation is touted as the main benefit of homeownership; however, runaway home price growth over the past five years has homeowners feeling locked into a financial prison. According to Redfin's latest market study, 38 percent of 3,000 homeowners said they couldn't afford their home if they were to buy it today. As a result, homeowners are staying in place much longer — 59 percent said they've been in their home for at least 10 years and 21 percent have been in their home for at least five.
Sitzer judge grants preliminary approval for NAR settlement
Judge Stephen R. Bough ruled that the sweeping changes NAR agreed to were "fair, reasonable and adequate" and set a final approval hearing for November.
New-home sales enjoy big spring rally after signs of wear in February
Sales of newly built, single-family homes rose 8.8 percent in March, a reflection of the beginning of a busy homebuyer season. New-home sales rose 8.3 percent year over year, according to the U.S. Census Bureau.
5 tips for navigating times of frustration and uncertainty
Whether it's commission lawsuit settlements or life in general that's causing your stress, broker-owner Pam Blair offers insight to help you come out stronger on the other side.
60-day clock begins for brokerages seeking to opt into $418M NAR deal
Sitzer | Burnett plaintiffs on Friday asked the court to preliminarily approve the proposed deal. Brokerages and MLSs that were left out initially will have to take action by June 18 to be covered.
Schwarzenegger, Pratt slammed for razing historic LA mansion
The couple bought the home in an off-market transaction in January 2023, months after the previous owner passed away. The plot is located across the street from the home of Schwarzenegger's mother, Maria Shriver.
Flat-fee brokerage Homie makes remarkable pivot amid upheaval
The Utah-based disruptor "moved our real estate agents from W2 to 1099" while other "non-Homie" agents were laid off last week due to "role redundancy," a Homie spokesperson confirmed to Inman.
BHGRE’s 2nd largest franchise signs 10-year contract renewal
Amid an industrywide recruitment war, Better Homes and Gardens Real Estate has secured its largest contract renewal of 2024 with Atlanta-based BHGRE Metro Brokers. The 45-year-old brokerage is the second-largest franchise in the BHGRE network, with more than 2,400 agents across 27 offices. In 2023, BHGRE Metro Brokers closed 4,738 transactions worth $1.665 billion, a performance that earned it a top 200 ranking on Real Trends' 2024 transaction sides and volume lists.
Tim Rodland launches new Bahamas luxury brokerage
Rodland Real Estate, which operates across the archipelago, provides clients a private members portal with access to off-market properties. With the network Rodland has built over the years, the firm is particularly well-suited to aid newcomers to The Bahamas.
CoStar to acquire 3D scanning company Matterport for $1.6B
Matterport's board of directors unanimously approved the deal, which will be finalized later this year. CoStar purchased its outstanding stock for $5.50 per share, reflecting a value of $1.6 billion.
Real estate brokers didn’t fear the lawsuits — until NAR settled: Intel
Anxiety around commissions leaped to the top of the worries brokerage leaders face, pushing down concerns around inventory and competition, according to Inman Intel Index survey results.
Lamacchia: ‘Nothing’s changed’ about mortgage commission rules
Anthony Lamacchia thinks some agents are reading too much into guidance issued by mortgage giants Fannie Mae and Freddie Mac confirming sellers can continue to pay buyer's agents' commissions.