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DataDigest: The remarkably resilient agent commission rate

Housing Wire

On Friday afternoon, my real estate agent called with good news. The agent wished me well and said that she would appreciate a review on her website. My agent exchanged a few emails with the buyer’s agent over a few minor repair requests, but this was all buttoned up very quickly. Congratulations!” And that was that!

Agents 412
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Offerpad proposes iBuyer-agent marriage

Housing Wire

The success of iBuyers is the failure of real estate agents. After all, iBuying companies Opendoor , Redfin and formerly Zillow are predicated on home sellers eschewing a listing agent and selling their home to the company. Though both Redfin and Offerpad feature iBuying and real estate agents, the business models are different.

Agents 393
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Rocket Mortgage to buyers: Use a partner agent, save big on closing costs

Housing Wire

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. If they work with a Rocket Homes partner agent, they’d receive nearly $5,000 toward their closing costs. (To

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Compass agents eschew company stock

Housing Wire

Back in 2018, Robert Reffkin exuded that Compass agents were literally invested in the brokerage’s success. Reffkin, the CEO and co-founder of Compass, told The Real Deal then that 1,149 of the company’s about 7,000 agents, or around 16%, returned to Compass some revenue from sales commissions in exchange for company stakes. .

Agents 341
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Zillow testing major changes to Premier Agent program

Housing Wire

Starting May 25, “several hundred” real estate agents in the Raleigh, North Carolina and Denver metro areas will no longer have access to Premier Agent , thanks to major changes coming to Zillow ’s lead generating platform. The percentage an agent pays depends upon the sale price of the property.

Agents 370
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Are homebuilders burning bridges with real estate agents?

Housing Wire

Real estate agent Alanna Strei’s client wanted to check out “Tesoro Vista Del Sur,” 134 newly built townhouses in the Ocean View Hills area of San Diego. Do you need an agent when you have 10 buyers for every home?” Agents don’t want to hear that. The post Are homebuilders burning bridges with real estate agents?

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Lawsuit claims Compass defrauds agents

Housing Wire

Compass defrauded its real estate agents out of millions of dollars in sales commissions and broke pledges to give agents shares of stock, according to a new lawsuit that seeks class-action status. Compass has a few agent-equity plans , which are premised around agents snaring shares now in exchange for past commission income deferral.

Agents 418