Compass 'can sustain a downturn for 6 months, 8 months, 9 months'
Compass CEO Robert Reffkin also conceded that the downturn hitting the housing market is going to drive some agents and discounters out of the real estate industry
Apr 15
IRS launches tool to track stimulus check deposit
Americans can input their direct deposit information on the new web portal
Apr 15
RE/MAX expands broker fee deferrals, enacts hiring freezes
The real estate franchisor is enacting cost-cutting measures including a suspension of its popular 401K matching program, company bonuses and a nationwide hiring freeze
Apr 14
New listings in Manhattan were down 89% last week
There were only 52 new listings in Manhattan during the second week of April
Apr 14
A change to the CARES Act threatens Realtors: NAR
National Association of Realtors President Vince Malta is calling on Congress to provide more funding for small business loan programs created by the CARES Act
Apr 14
Compass upgrades marketing center for real estate agents
The company has been rolling out and revealing new technology at a frequent pace
Apr 13
RE/MAX adjusts national ad campaign amid pandemic
2 new advertising spots close with a message of hope for the industry: 'We Will Rise Above'
Apr 13
JPMorgan Chase tightens mortgage lending standards amid uncertainty
The lender will require a 700 credit score and 20% down for mortgages
Apr 13
Fed, Treasury launch $600B small business loan program
The Main Street Lending program will provide four-year loans to businesses with fewer than 10,000 employees
Apr 10
Stimulus checks will start coming next week: IRS
Real estate agents in markets where transactional activity has halted may be getting a little relief soon
Apr 10
Keller Williams executive on taking virtual open houses from 'novelty to norm'
Jay Papasan wants to help teach the entire real estate industry best practices on virtual tours and open houses
Apr 10
Mortgage rates remain flat but could go lower this year
The average rate for a 30-year, fixed-rate mortgage is at an all-time low, but it could drop further if the economy stabilizes
Apr 9
Curbio partners with Coldwell Banker Bain for pre-sale reno program
Coldwell Banker Bain is the first partner, but Curbio is hoping to partner with brokerages in every market in which it operates
Apr 9
Another 6.6M filed for unemployment last week
More than 15M Americans have filed for unemployment insurance since states began issuing stay-at-home orders
Apr 9
EXp Realty lays off 15% of staff amid market slowdown
Executives at the company are taking salary reductions in an effort to reduce company expenses as home sales across the country slow
Apr 8
Compass launches customizable drip campaign platform
Compass CEO Robert Reffkin calls 'Action Plans' the most significant CRM feature since the CRM's launch
Apr 8
KW regions held Zoom calls to help franchise owners adjust expenses
Some franchise owners defended the practice of adjusting expenses, leading to reduced profit sharing for April
Apr 8
Realogy and KW top T3 Sixty's holding company and franchisor rankings
Redfin and RE/MAX had the most productive agents in 2019, according to the ranking
Apr 8
EXp leader is stepping in to help virtual vendor subsidiary
Glenn Sanford is going to be the chief strategy officer of VirBELA, after previously stepping back from the day-to-day of eXp Realty
Apr 7
Redfin is furloughing 41% of its real estate agents
The company announced it's also laying off 7% of its staff in an SEC filing
Apr 7