Mike mentions that the current unsold inventory is +37% YoY in California. But sales and pricing are holding up so we're just getting used to having more active inventory laying around not selling.
National Outlook
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Compass
Compass Intelligence
The first take by our new chief economist, Mike Simonsen. He doesn't pull any punches either:
Welcome Mike
Congrats to Mike for coming on board. With him generating market data regularly, we have as much to gain as anyone at Compass - look for more data from Mike here! He offered a question on twitter: Here is his response: He goes into more detail here. Because there is...
Compass vs. Zillow
Zillow is scheduled to start their ban this week, but this lawsuit should pause everything. Wouldn't it make sense for the DOJ to step in and voice their opinion right about now to help guide us to the eventual conclusion? Or will they continue to stand by and just...
Over List, April
April is usually a contender for best statistical month of the year. In 2023, April lost out to May for the highest percentage of sales that closed over the list price, and last year's early start had March be the year's winner in the category - with April in a close...
Market Share
The first Compass goal was to have 20% market share in 20 major metro markets, and now we're striving to have 30% market share in 30 markets. Locally, we're getting close. The market has been tough on everyone, mostly because buyers aren't going for it like they were...
Robert Reffkin in San Diego
Robert Reffkin was in San Diego yesterday to talk Compass. He will be visting all the Compass regional offices to assure agents that we are on the right track. We're on the right track. Private Exclusives are permitted in the Clear Cooperation Policy. Nobody disputes...
Off-Market Sales Reality
Yesterday, reader Jim repeated the common belief about the Compass 3-Phase Marketing Plan: Compass isn’t going this route to protect sellers - they are trying to increase their dual agency transactions which will lead to more profits for a publicly traded company. In...
Compass Coming Soon
Thanks to the N.A.R. revision of the Clear Cooperation Policy, there are now FOUR ways a home can be marketed to buyers: Private Exclusive - Within the brokerage only. My buyers can be auto-notified. Compass Coming Soon - Listings on the brokerage/agent websites only....
Compass Looking At Berkshire Next
Here's the full story so far but you know what triggered this move. Warren has to be as madder than Reffkin over the arbitrary penalties from the NAR, and their vig was 5x what Compass had to pay: What will be the impact locally? Combining the #1 and #2 brokerages...
