Catch up quickly on the biggest stories of the month, as determined by Inman website visitors. Here’s this month’s Inman Top 10.
1. Zillow to shut down iBuying program Zillow Offers
The move should take several quarters and will also result in Zillow reducing its workforce by approximately 25 percent.
2. NAR approves display of buyer broker commissions
Credit: Andrea V. Brambila
Two-thirds of the trade group’s directors voted in favor of allowing brokers and agents to share buyer broker compensation on their websites.
3. Petition calls for Turpin public guardian to lose real estate license
Facebook / Associated Press
Vanessa Espinosa, former deputy public guardian for the Turpin children and, until recently, an agent in California, is facing calls for the state to revoke her real estate license.
4. Zillow Offers collapse is proof of the Zestimate’s inaccuracy
Photo by Sigmund Unsplash
By Bernice Ross
Zillow’s decision to shut down its iBuyer is more than just a response to volatility of the Zestimate, but an indication technology can’t solve everything.
5. Pocket listings are still around, but the off-market landscape is evolving
Ted Irvine
Two years after the National Association of Realtors approved the Clear Cooperation Policy, pocket listings are as strong as ever. This is Inman’s first story in a five-part series.
A. and I. Kruk / Shutterstock.com
The real estate franchisor says giving the listing brokerage equal billing would cause consumer confusion.
7. Keller Williams is launching a real estate school
The KW School of Real Estate will be fully digital and launched in partnership with educational firm Kaplan.
8. Opendoor co-founder slams Zillow, calls portal’s tech ‘horrible’
Keith Rabois also said on Twitter Wednesday that he expects Zillow to suffer “even greater losses than they admit.”
9. Home showings don’t equal procuring cause. Here’s why
Canva
By Jay Thompson
Contrary to what real estate discussion groups might have you believe, there is far more to procuring cause than showing a home, Jay Thompson argues. Writing an offer is not a guarantee you are the procuring cause. Nor is having a signed buyer-broker agreement. Here’s the truth.
10. National Association of Realtors passes listing attribution policy
National Association of Realtors Board of Directors Meeting, November 2021
Three-quarters of the National Association of Realtors’ directors voted to require display of listing broker contact information on agent and broker websites.