Category: Industry issues

DOJ Lawsuit Forces Realtors To Change Co-op Commission Practices

DOJ Lawsuit Forces Realtors To Change Co-op Commission Practices
For some time the way realtors get home sellers to pay buyers’ agents (co-op) commissions has come under antitrust scrutiny. About 1 1/2 years ago a class action lawsuit was filed by some home sellers alleging that several brokerages engaged in price fixing with regard to co-op commissions. Now, just 1 1/2 weeks ago, the... Read more »

How Realtors Make Home Ownership Look Like A Wealth Builder

How Realtors Make Home Ownership Look Like A Wealth Builder
From time to time “economists” from the National Association of Realtors publish propaganda pieces on how great real estate is. For example, just last week they published an article on how “homeownership presents a great pathway to build wealth“. If you ever need an example of how to lie with statistics this serves as a... Read more »

Real Estate Appraisals In The Time Of Coronavirus

Real Estate Appraisals In The Time Of Coronavirus
I’ve written a few blog posts about real estate appraisals in the past – most recently this one about the inherent biases in the appraisal process that make them kinda worthless. That one also contains a link to an earlier one on some of our worst experiences with real estate appraisals. Well, with the Coronavirus... Read more »
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Reality Doesn't Live Up To The Real Estate Negotiation Myth

Reality Doesn't Live Up To The Real Estate Negotiation Myth
At this point in my career I’ve witnessed or been a party to hundreds of real estate negotiations and I can tell you in no uncertain terms that the process doesn’t usually live up to the expectations of either home buyers or sellers. I actually wrote a really comprehensive blog post on this topic about... Read more »

Can A Lawsuit Preserve The Super Secret Pocket Listing?

Can A Lawsuit Preserve The Super Secret Pocket Listing?
Back in November I wrote about how the National Association of Realtors’ new Clear Cooperation Policy was going to finally crack down on the shady pocket listing practice and the super secret realtor networks that enabled them. As my use of adjectives and that previous post hints I’m clearly no fan of pocket listings. I... Read more »

Mobility Trends: People Just Don't Move Like They Used To

Mobility Trends: People Just Don't Move Like They Used To
OK. This blog post sounds an awful lot like the one I did a little over 2 1/2 weeks ago where I talked about how long people are staying in their homes. But the data I shared in that post was less than ideal. It was biased by only looking at people who moved and... Read more »
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Homeowners Staying In Their Homes A Lot Longer Than They Used To

Homeowners Staying In Their Homes A Lot Longer Than They Used To
The real estate industry has a lot at stake when it comes to how long people stay in their homes. The average tenure of homeownership directly drives transaction volume. An average tenure of 5 years would result in 20% annual turnover of the housing stock while a 10 year tenure would produce 10% turnover. The... Read more »

National Association Of Realtors Finally Cracking Down On Pocket Listings

National Association Of Realtors Finally Cracking Down On Pocket Listings
In the past 6+ years I’ve written at least half a dozen posts about the evils of pocket listings – listings that are “coming soon” or otherwise “off market” and either temporarily or permanently not on the MLS. Despite the fact that a majority of real estate agents don’t like pocket listings the National Association... Read more »

Selling A Home Fast With An iBuyer - Who Is Losing Their Ass?

Selling A Home Fast With An iBuyer - Who Is Losing Their Ass?
For about 2 1/2 years now I’ve been posting about the iBuyer real estate models – where a company will buy your house from you quickly, for cash. In a nutshell my concern has been that a) enough consumers are smart enough to take advantage of the mistakes these companies will inevitably make that b)... Read more »
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What The Stock Market Tells Us About The Future Of The Real Estate Industry

What The Stock Market Tells Us About The Future Of The Real Estate Industry
I’ve been predicting the demise of the traditional real estate agent/ brokerage for a couple of decades now. I got into the business 12 years ago because I believed that there was about to be an explosion of interest in alternative brokerage models. Yet, the future of the real estate industry has been slow to... Read more »