Our MLS is going to provide a Coming Soon feature, which will fluster the agents who say that the Coming Soons build anticipation (like a movie trailer) and test pricing, but who then use the concept to circumvent the MLS and instead advertise directly to the consumer...
It has never been made clear to realtors why the Clear Cooperation policy is needed in the first place - or agents didn't understand or agree with its purpose. The new way to get around the rule is for agents to advertise their coming-soon listings with no address -...
The new N.A.R Clear Cooperation Policy takes effect on May 1st. Next Monday, the CRMLS will begin a Coming-Soon category in the MLS for agents only. The listings can only be in the coming-soon category for 21 days, and no showings are allowed. But the feature won't be...
Wells Fargo is 'suspending' their jumbo-loan funding of all correspondents today, and the others (like Chase) are sure to follow. It's one thing to stop funding loans for mortgage brokers, but to shut down the credit lines to the big players like Loan Depot, Quicken,...
The seven-day moving average was +32% on March 8th, and now the average is -68.7%! This is during the peak showing season too! But at least the current trend looks like it is flattening out? Hopefully the change of realtors being declared essential workers will mean...
When we joined Compass in the summer of 2018, it was clear that the evolution of residential resales was trending towards off-market sales. I said then, "we have to make sure that we're on the right team". The National Association of Realtors tried to affect the...
How to justify pocket listings, in one paragraph: A broker from The Agency is hoping to mobilize support against the National Association of Realtors’ controversial ban against pocket listings, drafting a new petition to urge the repeal of a policy that many agents...
The MLS Statement 8.0 Clear Cooperation Policy is 'a lightweight, middle-of-the-road policy that will just make the problem worse' because it doesn't go far enough. It's so full of holes that it will only exacerbate the problem, and by the time they figure it out, it...
Yesterday, we entered into the final phase of the MLS implosion, with the latest blow being delivered by the National Association of Realtors themselves. Instead of strictly forbidding Off-MLS sales, they have tried to appease everyone by concocting a lightweight,...
An article about Compass agents who used a new off-market service called Aalto to sell a special house. Ethics and fiduciary duties are getting shrugged off, and instead the off-market sale has become the sexy option. Hat tip to recently-married Susie for sending...
