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San Francisco Realtors partner with AI startup Sidekick

Housing Wire

AI -powered real estate assistant Sidekick unveiled a partnership with the San Francisco Association of Realtors (SFAR) on Monday. As the AI capital of the world, San Francisco is the ideal place to launch Sidekick to sophisticated Realtors, at just the right time,” Michael Martin, co-founder of Sidekick, said in a statement.

Realtors 411
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The Real Brokerage settles Umpa commission lawsuit for $9.25M

Housing Wire

Fast-growing, publicly traded The Real Brokerage announced Monday that it had reached a settlement agreement with the plaintiffs in the Umpa commission lawsuit. The brokerage will pay $9.25 The Real Brokerage closed $14.4 The Real Brokerage closed $14.4 million into a qualified settlement fund, as part of the agreement.

Brokerage 378
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Lamacchia Realty acquires family brokerage of NAR President Kevin Sears

Housing Wire

On Monday, the independent brokerage announced that it had acquired Springfield, Massachusetts-based Sears Real Estate. Founded in 1971 by Paul Sears, Sears Real Estate is owned and operated by the family of current National Association of Realtors president Kevin Sears. Kevin Sears, President of National Association of Realtors. “It

Realty 448
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Court allows Gibson and Umpa suits to consolidate

Housing Wire

National Association of Realtors , et al., The Gibson suit was filed in late October 2023 by Michael Ketchmark, just after a Missouri jury ruled in favor of his clients in the Sitzer/Burnett suit that found real estate industry players liable for colluding to artificially inflate agent commissions.

Realtors 383
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Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We million net loss reported in Q1 2023. million, compared to Q1 2023’s free cash-flow loss of $59 million.

Agents 391
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Despite industry headwinds, Real believes it can continue growing agent count

Housing Wire

With a 67% annual increase in agent count to 16,680 agents during the first quarter of 2024 , it is no surprise that The Real Brokerage also recorded an 86% annual increase in revenue to nearly $201 million. With Pro Teams, a team or brokerage firm is able to maintain its own internal economics and commission models.

Agents 459
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Corcoran launches first franchise in Oregon

Housing Wire

Realtors , was founded in 2014 by Jackson and Matt Lesher. The brokerage boasts a team of roughly two dozen licensed agents , as well as support staff members in marketing, management and transaction coordination roles. ” Corcoran Prime, previously known as The Agency Inc. .

Brokerage 402