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...
The National Association of Realtors is attempting to regulate a change in the Coming Soon environment - see above. The way it is written, however, will just take us back to the days when off-market deals were done behind closed doors because they are permitting the...
Pocket listings should keep the excitement level higher for now. From the Business Insider: The ultra-wealthy are known for being exclusive, and the way they handle the purchases and sales of their multimillion-dollar homes is often no exception. Now, that’s not to...
I participated in the PLS webinar recently: We're excited to be hosting our first ever ZOOM meetup with James Harris (Million Dollar Listing Los Angeles & Founding Partner, ThePLS.com). We'll be discussing Los Angeles real estate market trends for Q2 (and beyond)...
More tip-toeing around the Coming Soon topic in Realtor Magazine yesterday: The surge in off-market “pocket listings”—those held off the MLS in favor of secret channels and networks between agents or within a brokerage—is a growing issue in the real estate industry....
