Compass suffered a $601 million net loss during a very difficult year.
Robert Reffkin, CEO of Compass, spoke out Tuesday night to analysts and investors listening to the fourth-quarter earnings call. He said that 2022 would be a “very difficult” year. This resulted in a 6% decrease in revenue year-over-year to $6.0186billion….
eXp adopts an agent-centric approach in a difficult market
With mortgage rates rising, inventory falling in many metro areas, and transaction volume continuing its decline, agents and brokers are trying to differentiate themselves. Glenn Sanford, founder and CEO of eXp, says that this means being more agent-centric. “To drive…
Finger Lakes joins the Sotheby’s International Realty Network in New York
Sotheby’s International Realty expanded into New York with the addition Finger Lakes Realty Partners to their network. This marks its 59th office. Sotheby’s announced Wednesday that the firm will now be known as Finger Lakes Sotheby’s International Realty. Since more…
Howard Hanna expands its reach to Long Island
Howard Hanna Real Estate Services (HHRES), a family-owned brokerage, is expanding to Long Island, New York. Coach Realtors. Hobby Hanna, HHRES’ president, wrote in an email that “HHRES has grown its presence in New York over the past seven years…
JZZ Technologies acquires Oxygen Mortgage
JZZ Technologies is a small, publicly traded technology company that is looking to acquire Colorado-based Oxygen Mortgage. Egeland will be heading the real estate division of the New York-based tech company. Initial plans were to form a joint venture between…
5 ways to find your niche in real estate
Are you a real estate generalist? To a certain extent, all real estate agents are generalists. You can be an expert in a variety of real estate niches and market to everyone by specializing. It takes time and effort to…
How to talk about realty and get more referrals
It’s not hard to see that agents who talk about real-estate all the time are more likely to get more business from their family and friends. What if you don’t feel comfortable having these conversations? Perhaps it’s not something you…
MV Realty suspends its right to list the agreement program
After drawing the ire from four attorneys general and being warned by the Federal Communications Commission (FCC), right-to-list agreement firm MV Realty announced it would suspend the signing of new Homeowner benefit agreements. “MV Realty has temporarily suspended entering into…
Black Knight 4Q earnings are down 71% compared to previous year
Black Knight’s fourth quarter net earnings fell 71% year-over year. This was largely due to the slowing mortgage market. However, Black Knight reported $452.5 million net earnings for the 12-month period. This is an increase of $207.9 million from 2021….
Altos: Expect flat home prices for the year
[embedded content] Two months into 2023, Altos is reporting remarkably resilient home-buying activity. However, this does not change the view that national home prices will remain flat to slightly down. The pricing data for 2023 will become more mature as…