eXp World Holdings Exceeds Expected Revenue Rate for Q1, but Agent Count Remains Down Year-Over-Year
Despite ongoing legal woes and a drop in agents, virtual national brokerage eXp reported year-over-year revenue and profit growth in its Q1 2024 earnings call on Wednesday. Transactions also increased 8% to 110,976 year-over-year, the company reported. “During the first quarter, our agents closed over $37 billion of transactions, a 12% year-over-year increase, underscoring eXp’s…
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Zillow Sees the Positives in a Post-Settlement Industry in Latest Earnings Call
At the end of 2023, Zillow pointed to the consistency of its earning results to paint a rosy picture of the company’s future. Reported revenue was up year-over-year in Q4 2023 ($474 million), though there was a net loss of $74 million, about the same as the year before. In its first quarterly report of…
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Mortgage Rates Increase for Fifth-Straight Week
The 30-year fixed-rate mortgage (FRM) averaged 7.22% this week, rising for the fifth-consecutive week and up from last week’s 7.17%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday. This week’s numbers: The 30-year FRM averaged 7.22% as of May 2, 2024, up from last week when it averaged 7.17%.…
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REALTORS®’ Charitable Giving and Volunteering Increased Last Year
Charitable giving continues to rise among REALTORS® and REALTOR® associations, according to a new report from the National Association of REALTORS®. The 2024 Community Aid and Real Estate Report (CARE Report) provides insight into the monetary and volunteer contributions of NAR members, broker-owners and AEs or MLS staff. Monthly volunteering and annual monetary donations by…
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CRD Partners with Shaping Wealth for Human-Centric Training Suite
The Center for REALTOR® Development announced a strategic partnership with Shaping Wealth to offer training programs crafted to equip agents with the human-centric skills needed to thrive in today’s real estate environment. The partnership provides NAR members exclusive access and discounted pricing on three upcoming virtual workshops. “At the Center for REALTOR® Development, we are…
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HomeServices Hit by New Buyer Suit Days After Seller Settlement
HomeServices of America, after paying $250 million to settle seller suits and being dropped from the largest buyer suit, for a few short days was maybe the only large real estate company not directly facing commission litigation. That changed Monday, when lawyers behind the largest buyer suit (known as Batton) re-filed their accusations in a…
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Fed Holds the Line, Leaving Rates Unchanged in Ongoing Inflation Fight
The Federal Open Market Committee (FOMC) maintained the target range for the federal funds rate on Wednesday following hotter-than-expected inflation and employment cost data. In its familiar refrain, the central bank left the federal funds target range untouched at 5.25% to 5.5% after its monthly meetings on Tuesday and Wednesday. Most investors and analysts expected…
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Former NFL Players, Real Estate and Business Leaders Bring Unique Skills as Agents to Corcoran Affiliates
The Corcoran Group has announced three new agents will be joining the brokerage, bringing a unique combination of skills from their experiences as real estate professionals as well as former National Football League (NFL) players. Andy Levitre and Marc Mariani will be joining Corcoran Reverie in Nashville, Tennessee. Gregory Senat will be joining Corcoran Infinity…
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Parks | Pilkerton Adopts Cloze for AI-Powered Real Estate Platform
Cloze—a software company that delivers AI-powered real estate solutions—announced today that Parks | Pilkerton—Tennessee’s largest residential real estate company—has selected their platform for lead management, multi-channel marketing automation, and customer relationship management (CRM). Cloze’s robust AI capabilities will help Parks | Pilkerton agents and leadership increase productivity and lead conversion. “As an organization, we’re committed…
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EXCLUSIVE REPORT: How to Succeed in the Post-Burnett Market
Editor’s note: Join Premier today to access this exclusive report! Can there be a more time-worn adage than “The more things change, the more they stay the same?” As we navigate the complexities of a post-Burnett world, you’ll be putting those words to the test. How will things change for you? What strategies will you…
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