Umansky, Dwiggins clash in heated debate over Clear Cooperation
While onstage at Inman Connect New York, Mauricio Umansky argued that Clear Cooperation stifles competition. Meanwhile, James Dwiggins said the rule puts the customer first
by Jim Dalrymple II Jan 23
Redfin lays off 46 employees at Seattle HQ
Redfin laid off 46 headquarters, programs and field operations staff on Thursday. This is the 2nd round of layoffs in the past 6 months, with the previous round impacting 85 Redfin Concierge staff
by Marian McPherson Jan 10
Robert Reffkin predicts the end of Clear Cooperation in 2025
The Compass CEO, long a critic of the polarizing NAR rule, believes that the real estate industry as a whole will finally come around to his view in the near future
by Jim Dalrymple II Jan 6
Stay tuned: The tumult of 2024 leaves real estate on a cliffhanger
What will happen with the commission litigation? Which companies may merge? How will consumers behave? The only thing that's certain is that real estate's next episode will be big
by Jim Dalrymple II Dec 23
Impact of NAR's commission rule change illuminated in Q3 earnings
In the wake of the National Association of Realtors' 3-month-old rule change, executives are reassessing agent pay amid pressure on commissions, an analysis of Q3 earnings data shows
by Jim Dalrymple II Nov 12
Revenue grows and losses widen for Redfin in Q3
Seattle-based brokerage and portal Redfin's Q3 revenue grew 3% year over year to $278M. However, the company's net losses ballooned 77.8%, according to Thursday's earnings
by Marian McPherson Nov 7
NAR rival seeks agents for possible class action over Clear Cooperation
The American Real Estate Association is looking for those 'fined or otherwise harmed' by the National Association of Realtors' pocket listing rule and are interested in 'collective action'
by Andrea V. Brambila Oct 10
NextHome CEO James Dwiggins takes on Clear Cooperation critics
In a LinkedIn post Tuesday, Dwiggins claimed brokerage leaders fighting to repeal the pocket listing rule are concealing an agenda to hoard listings, recruit agents and generate internal leads
Ending Clear Cooperation is a win for big brokers — and no one else
Opinion
According to Redfin CEO Glenn Kelman, big brokerages have a vested interest in getting rid of Clear Cooperation, even at the expense of agents and consumers
by Glenn Kelman Oct 8
Glenn Kelman: It's 'game on' for the 2025 housing market
In his latest CNBC appearance, Redfin CEO Glenn Kelman talked about mortgage rates, the lock-in effect, and how buyer-broker compensation changes are already impacting market dynamics
by Marian McPherson Oct 7
Where real estate's major players stand on Clear Cooperation Policy
Some real estate leaders say the focus on Clear Cooperation stems from the recent commission lawsuits. But others see a deeper question about brokerage profits at the heart of the issue
by Jim Dalrymple II Oct 1
Umansky threatens to sue NAR as pocket listing pressure mounts
The Agency CEO and founder said he plans to revive a lawsuit against NAR over a pocket listing network. The threat came days after NAR officials convened to reevaluate Clear Cooperation
by Jim Dalrymple II Sep 17
Redfin Next expanding nationwide by the end of October
Seattle-based Redfin is taking its commission-based payment model nationwide on Oct. 27. Redfin Next enables agents to keep W-2 status and benefits while earning commission splits
by Marian McPherson Sep 9
Redfin CEO says 'change is good' in blog about commissions
2 days before the implementation of new cooperative compensation rules, Redfin CEO Glenn Kelman explained what the changes will mean for consumers and the industry at-large
by Marian McPherson Aug 16
Redfin sees Q2 revenue rise, while losses remain nearly flat
The company's earnings report saw revenue climb 7% to $295.2M between April and June, but it also lost $27.9M — just a hair above its Q2 2023 loss
by Jim Dalrymple II Aug 6