by Lillian Dickerson | May 3, 2025 | Industry, News Feed
Compass Family Office will focus on assisting clients with long-term real estate asset management goals, as well as bridging the gap between brokerage services and institutional advisory.
Bigger. Better. Bolder. Inman Connect is heading to San Diego. Join thousands of real estate pros, connect with the Inman Community, and gain insights from hundreds of leading minds shaping the industry. If you’re ready to grow your business and invest in yourself, this is where you need to be. Go BIG in San Diego!
Luxury-focused brokerage Compass is leaning into its luxury business with the launch of a family office division to cater further to high-net-worth clients, the firm informed Inman.
Compass Family Office will focus on assisting clients with long-term real estate asset management goals, as well as bridging the gap between brokerage services and institutional advisory, a press release said. One of the firm’s top agents, Cindy Scholz, who operates in New York City and the Hamptons, will be leading the new division.
Cindy Scholz | Compass
“It’s a holistic approach,” Scholz told Inman. “The whole reason why this division came together is, it actually was more like a request, rather than an idea. ‘We need this, we need that.’ And what we’re doing with this family office division is, lifestyle-wise, let’s look at everything that we can help you with, from real estate, taxes, mental health, you name it, we have it all together. We have experts in all fields.”
According to a Preqin report from March 2024, family offices manage more than $6 trillion in assets, of which real estate makes up a significant portion — and now Compass will be tapping into that market.
In providing connections to experts who provide other high-end services, the division will act as a concierge service to clients, but Compass agents invited into the exclusive division will focus on long-term relationships and support that spans generations. Among other services, agents will work with clients to develop strategic portfolios across geographical locations, providing guidance on asset performance and education to new generations.
Initially, the division is starting with a select group of agents who have been invited to join, but agent membership will largely be dictated by client families’ needs, Scholz said.
Ginger Glass’ $39.995 million listing at 1001 Linda Flora Drive, Los Angeles, California | Credit: Paul Barnaby
Compass Family Office is kicking off on Sunday, May 4, with an invite-only event in Los Angeles to coincide with the Milken Institute Global Conference, taking place May 4-7. Scholz is a member of the Milken Institute’s Young Leaders Circle. The event will be held at 1001 Linda Flora, a $39.995 million estate above the Getty Museum being repped by Ginger Glass, and is being sponsored by Jeff Bezos’ space tech company, Blue Origin. The event will provide a place for high-net-worth families to connect with Compass Family Office agents in a discreet location. Glass, who is one of Beverly Hills’ top agents, will be cohosting the event with Scholz.
“For high-net-worth clients, real estate decisions are never just transactions — they’re strategic,” Scholz said in a statement. “Compass Family Office is about meeting those clients where they are, offering the kind of bespoke, long-term service they truly need.”
Update: This story was updated on May 5, 2025 to add additional details about Compass Family Office’s launch event.
Get Inman’s Luxury Lens Newsletter delivered right to your inbox. A weekly deep dive into the biggest news in the world of high-end real estate delivered every Friday. Click here to subscribe.
Email Lillian Dickerson
This post was originally published on this site
by Lillian Dickerson | May 2, 2025 | Industry, News Feed
Alex Seavall and Candace Adams will be taking on roles at HomeServices as chief financial and operations officer and executive vice president, respectively. Brenda Maher is being promoted to president of Berkshire Hathaway HomeServices New England and New York Properties.
Bigger. Better. Bolder. Inman Connect is heading to San Diego. Join thousands of real estate pros, connect with the Inman Community, and gain insights from hundreds of leading minds shaping the industry. If you’re ready to grow your business and invest in yourself, this is where you need to be. Go BIG in San Diego!
Following the recent promotion of Chris Kelly to the company’s CEO role after Gino Blefari’s retirement, HomeServices of America announced further changes to the firm’s leadership structure on Thursday.
HomeServices of America owns the Berkshire Hathaway HomeServices franchise network and is owned by Berkshire Hathaway Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway.
With this second phase of leadership appointments, Alex Seavall, who has been serving as chief financial officer for the last roughly six years, will now add operations to his duties in a promotion to chief financial and operations officer. Seavall’s new scope of oversight will include finance, shared services, information technology, human resources, franchise services, relocation and the company’s business partners group.
“Alex has long played a critical role in aligning our strategic goals with operational execution,” Kelly said in a statement. “His ability to lead cross-functional teams and drive performance has helped move our organization forward — and this expanded title reflects the impact he already has across our enterprise.”
Candace Adams, who was president and CEO of Berkshire Hathaway HomeServices New England Properties for more than a decade, has also been named executive vice president of HomeServices of America, the role that Kelly most recently filled.
“Candace has earned the deep respect of her peers and consistently delivered results by investing in people and fostering collaboration,” Kelly said. “Her leadership will be instrumental in strengthening the connectivity and effectiveness of our companies nationwide.”
Brenda Maher will be taking on Adams’ former role as president of Berkshire Hathaway HomeServices New England and New York Properties, while Adams remains chair of the region. In her new role as executive vice president, Adams will partner with brokerage leaders across the network on alignment, strategic initiatives and more.
Kelly previously told Inman that one of his goals as he tackles the role of CEO at HomeServices is to create “a unified backbone” across the company that encompasses brand, culture, tools, and technology and its full-service brokerage model. The executive has been affiliated with the HomeServices brand for about 18 years.
“These new roles further position our enterprise’s value proposition to provide our agents the full scope of services they require to meet their clients’ needs under one umbrella, one family,” Kelly said in a statement released Thursday.
Email Lillian Dickerson
This post was originally published on this site
by Lillian Dickerson | May 1, 2025 | Industry, News Feed
With the partnership, the companies have launched their first jointly branded quarterly luxury market report, and Century 21 agents will receive access to The Institute’s member benefits.
Bigger. Better. Bolder. Inman Connect is heading to San Diego. Join thousands of real estate pros, connect with the Inman Community, and gain insights from hundreds of leading minds shaping the industry. If you’re ready to grow your business and invest in yourself, this is where you need to be. Go BIG in San Diego!
Century 21 Real Estate and The Institute for Luxury Home Marketing have launched a new collaboration and are kicking things off with their first jointly branded quarterly luxury market report, the companies announced on Thursday.
With the partnership, Century 21 affiliated agents will receive access to The Institute for Luxury Home Marketing member benefits, including access to luxury courses, local market reports, wealth insights and marketing tools.
“The idea of luxury real estate continues to evolve for today’s affluent buyers — it is not limited to a specific price point, but more of a mindset and lifestyle they are looking to attain,” Tori Keichinger, vice president and head of marketing for Century 21 Real Estate, said in a statement.
“Understanding the trends that shape this sector will be key to helping agents guide clients to make informed decisions along their real estate journeys. We couldn’t think of a more perfect collaborator than The Institute for Luxury Home Marketing to help agents affiliated with the Century 21 brand do just that as they continue to expand their businesses into the luxury sector.”
As part of the partnership and Century 21’s recently expanded Fine Homes & Estate program, Century 21 and The Institute will also be co-hosting several live-streamed courses throughout the year led by top luxury agents Sarah Gunnip of Century 21 Mike Bowman, Inc. and Laura Heigl of Century 21 Scheetz. The co-branded report, which in previous iterations The Institute released each quarter, will be jointly released by the companies at least through the end of the year, the companies told Inman.
“We are very excited to forge this new relationship with the Century 21 brand,” Diana Weir, head of The Institute for Luxury Home Marketing, said in a statement. “Not only are they providing their affiliated agents access to the latest data on the luxury market, but we’ll be working together to provide them with The Institute’s best-in-class courses and luxury agent tools, all delivered by Century 21 network leaders.”
Q1 luxury market highlights
The first quarter of 2025 showed positive momentum in the luxury space, according to Century 21 and The Institute’s report, which tracked closed luxury sales in North America from January 2025 through the end of March 2025. March ended with growing sales and inventory rates with active engagement from buyers and sellers alike.
Inventory of luxury single-family homes was up 26.3 percent compared to the previous year, and inventory of luxury condos and townhouses was up 27.3 percent year over year. The current median price threshold for luxury single-family homes is $900,000 and for attached homes, $700,000, according to The Institute.
Sales of luxury single-family properties were up 9.4 percent year over year and up 2.4 percent year over year for condos and townhomes.
Movements by luxury buyers during the first quarter also signaled decisions based on lifestyle choices, the report said, with millennials and Gen X buyers growing in number compared to previous years. “Rather than speculative flips or short-term gains, most transactions were anchored in long-term goals such as relocation, upsizing or the acquisition of secondary homes,” the report said.
New construction continues to be slightly behind pre-2008 rates, but factors like population growth, wealth migration and other demographic shifts have helped sustain luxury demand, the report said. Although factors like interest rates, geopolitical movements, the economy and more may impact the market in months to come, the luxury market is poised for relative stability, according to Century 21 and The Institute’s report.
“Luxury real estate remains a preferred hedge against economic volatility and inflation, with many high-net-worth individuals viewing property as a core component of their portfolio,” the report says. “As confidence grows and supply improves, the market appears well-positioned to absorb short-term shocks and continue its upward trajectory.”
View the full Q1 2025 Luxury Market Report here.
Get Inman’s Luxury Lens Newsletter delivered right to your inbox. A weekly deep dive into the biggest news in the world of high-end real estate delivered every Friday. Click here to subscribe.
Email Lillian Dickerson
This post was originally published on this site
by Lillian Dickerson | Apr 29, 2025 | Industry, News Feed
Bigger. Better. Bolder. Inman Connect is heading to San Diego. Join thousands of real estate pros, connect with the Inman Community and gain insights from hundreds of leading minds shaping the industry. If you’re ready to grow your business and invest in yourself, this is where you need to be. Go BIG in San Diego!
A bill currently under consideration in the Texas Senate may threaten the existence of the National Association of Realtors’ speech code in the state.
Senate Bill 2713, first introduced to the Texas Senate on March 13, 2025 by Senator Mayes Middleton (R-Galveston), proposes that trade organizations within the state be prohibited from denying anyone membership in their organization due to race, color, religion, sex, disability, familial status or national origin, or “because of the person’s exercise of the person’s freedom of speech or assembly, notwithstanding any provision of the association’s or organization’s bylaws.”
TAKE THE INMAN INTEL SURVEY FOR APRIL
SB 2713 also states that someone who is aggrieved by a violation of the bill may bring action against the trade organization for damages, which might include court costs and attorney fees.
The bill is currently pending with the Senate committee.
A committee hearing to discuss the bill that took place on Monday showed legislators responding positively to the bill. Likewise, Texas Association of Realtors Director of Public Policy Julia Parenteau and Chief Operating Officer David Jones said during the hearing that the association is neutral to the bill’s proposal.
Individuals who testified in favor of the bill during the hearing included current or former real estate professionals Brian Talley, Brandon Huber, Chad DeVries, Wilson Fauber and Jamie Haynes — all of whom had received complaints in the past in relation to their expression of free speech and its alleged violation of the Realtor Code of Ethics, and who said their careers had been negatively impacted by those complaints.
“Across Texas, individuals are being potentially shut out of their own professional communities for nothing more than expressing their views on social media or in public forums,” Sen. Middleton said during the hearing.
“Senate Bill 2713 ensures that no Texan will be denied membership or access in professional or trade associations because of their race, religion, sex or disability, which is already law, but also because of their constitutional protected right to speak and freely assemble. In other words, this bill reaffirms that your ability to work and practice your trade in Texas does not depend on your political or religious beliefs or who you associate with.
“This bill closes the door on ideological discrimination by trade organizations. It remembers the first amendment does not end when you clock in, and yet too many Texans today find themselves faced by adverse action and forced to choose between staying silent or risking expulsion from their trade industry.”
If passed, the new law would take effect on Sept. 1, 2025, and would impact the execution of NAR’s Standard of Practice 10-5 in the state, as well as other similar guidelines laid out by other professional associations in different industries in Texas. The bill does not mention NAR or any other professional organization by name, but just mentions “professional or trade association[s] or organization[s]” more generally.
NAR and the Texas Association of Realtors did not immediately provide a comment for this story.
NAR’s speech code under Article 10 of the Code of Ethics stipulates that Realtors “must not use harassing speech, hate speech, epithets, or slurs based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.”
In order to qualify as a violation of the code, an individual’s speech must first be determined to be “harassing, hate speech, epithets, or slurs,” and secondly, must be speech based on one of the protected designations mentioned. In updated guidelines released in Nov. 2020, NAR explained that the standard of practice was intended to “not deny equal professional services or be parties to a plan to discriminate.”
“Specifically, bias against protected classes revealed through the public posting of hate speech could result in Realtors not taking clients from certain protected classes or not treating them equally, which would lead to violations of the Fair Housing Act due to overt discrimination or disparate impact,” NAR’s guidance elaborates.
Real estate blogger Rob Hahn listened to the committee hearing on Monday and distilled his takeaways in a post on his blog, NotoriousROB.
“From what I saw during that committee hearing, this bill will sail through Committee,” Hahn wrote. “The Texas Senate is 20 Republicans and 11 Democrats; it will pass there. The Texas House is 88 Republicans and 62 Democrats; it will pass there. There is little likelihood that Greg Abbott will not sign it into law.
“What’s more, the Texas Association of Realtors got on the record saying that they would not oppose it.
“The deal is done, y’all. NAR’s Speech Code will die a well-deserved death, and not soon enough.”
In 2022, NAR contributed $10,000 to Sen. Middleton’s political campaign, according to political funding tracker OpenSecrets.
NAR has been dragged into legal battles before because of the Article 10 speech code. In 2022, Realtor and pastor Brandon Huber (who testified on Monday) sued NAR and his local association, the Missoula Organization of Realtors, for unlawfully terminating his membership after he stopped his church’s donations to the Missoula Food Bank because of their support of LGBTQ Pride Month, and for sharing anti-LGBTQ sentiments.
Huber’s lawsuit against NAR and MOR ultimately fell flat, and MOR’s Board of Ethics found him guilty of violating Article 10 of the Code of Ethics, but said he could keep his membership if he paid a $5,000 fine and completed sensitivity training. Instead, Huber declined the offer and opted to end his real estate career.
Recognizing a disconnect between political candidates in Texas that NAR supports and the association’s own speech code, the LGBTQ+ Real Estate Alliance launched a campaign in the state in 2023 to try and hold Realtor associations accountable and not fund those who violate the speech code.
“Texas Realtors is therefore holding its members to a higher standard than those politicians [Texas Association of Realtors Political Action Committee] supports,” then-Alliance CEO Ryan Weyandt said in a statement at the time. “We are asking all Realtor associations around the nation, including Texas Realtors, to recognize that those who discriminate should not receive funding even if they support legislation favorable to our industry. Article 10 should be a uniting force for all of us. It is a common-sense consideration.”
Email Lillian Dickerson
This post was originally published on this site
by Lillian Dickerson | Apr 29, 2025 | Industry, News Feed
The franchisor’s performance was driven by its luxury brands during the first quarter. President and CEO Ryan Schneider also reaffirmed during an investors’ call the company’s stance on recent moves by NAR, Zillow and Redfin in regards to Clear Cooperation.
Bigger. Better. Bolder. Inman Connect is heading to San Diego. Join thousands of real estate pros, connect with the Inman Community and gain insights from hundreds of leading minds shaping the industry. If you’re ready to grow your business and invest in yourself, this is where you need to be. Go BIG in San Diego!
Real estate franchisor Anywhere grew revenue by 7 percent year over year during the first quarter of 2025, hitting $1.2 billion in a solid start to the year as luxury continued to drive the company’s performance.
Quarterly revenue was down slightly from fourth-quarter 2024 revenue of $1.4 billion. The company’s net loss was $78 million during the first quarter of 2025, an improvement of $23 million on an annual basis. Adjusted net loss was $64 million, improved by $21 million from the previous year.
TAKE THE INMAN INTEL SURVEY FOR APRIL
Transaction volume also increased 6 percent annually, with units down about 4 percent and price up about 11 percent. This figure bested the National Association of Realtors’ 3 percent annual market volume growth, Anywhere noted. Transaction volume was boosted largely by the success of the franchisor’s luxury brands and growth in California and New York City.
“Anywhere continues to prove the advantage of our unique assets, including our unmatched scale, high-margin franchise network, luxury leadership, and integrated end-to-end transaction experience,” Anywhere President and CEO Ryan Schneider said in a statement. “Those assets are driving differentiated success today and help fuel our growth and transformation as we look to the future.”
The previous quarter, Anywhere announced that it had grown revenue, improved quarterly net losses on an annual basis and increased closed transaction volume by 13 percent year over year. During the fourth quarter of 2024, Anywhere increased revenue by $112 million year over year to $1.4 billion.
“Anywhere is on offense, seizing opportunities to fortify our market-leading position today while making smart moves to transform our operations, accelerate our strategic momentum, and build on our financial progress,” added Anywhere Executive Vice President, Chief Financial Officer and Treasurer Charlotte Simonelli.
Coldwell Banker Global Luxury, Corcoran and Sotheby’s International Realty outperformed the market during the first quarter, with closed transaction volume up about 16 percent on an annual basis.
Anywhere added 11 new U.S.-based franchisees during the first quarter and two new international franchisees.
Agent commission splits rose 39 basis points year over year to 80.4 percent.
The company realized $14 million in cost savings during Q1 2025 and said it is on track to realize cost savings of $100 million for the full year.
Anywhere added that it would be making three one-time payments during 2025 that will add up to about $115 million, the first $54 million of which will be the final payment toward its antitrust litigation settlement.
Anywhere, which was one of the first major real estate companies to settle its part in the commission lawsuits, paid $10 million toward the settlement in Q4 2023 and another $20 million in Q2 2024.
The franchisor’s second payment of $41 million will go toward addressing a 1999 Cendant legacy tax issue and the third payment will be a roughly $20 million payment for the January 2025 settlement of the Company’s Telephone Consumer Protection Act (TCPA) litigation, which is still subject to final court approval.
Schneider also addressed recent industry changes, including NAR’s new Delayed Marketing Exempt Listings option and Zillow and Redfin’s choices not to display listings on their portals that have previously been marketed privately.
“Anywhere Real Estate is aggressively advocating for transparency and the broad public distribution of all listings,” Schneider said during an investors call on Tuesday, adding that starting listings as private was not a winning strategy.
“We remain committed to doing what’s right for buyers and sellers which … starts with advocacy, consumer choice and the broad distribution of public listings.”
He added that Anywhere will continue to build out private listing networks within its brands because of industry trends in this direction, but believes that private listings, ultimately, disadvantage both buyers and sellers, even though they respect the wishes of those sellers who choose to list privately. Simonelli likewise added that from a financial standpoint, marketing listings publicly to the widest possible audience made the most sense for the business.
When asked about recent economic volatility and its impact on Anywhere’s performance, Schneider said that, thus far in April, there had not been a significant change to Days on Market or contract cancellation rates. Low inventory and high home prices are continuing trends, however. “But it is pretty volatile out there, so we’re watching it closely and not extrapolating too far,” Schneider said.
Schneider added that Anywhere had proven its ability to deliver results during a tough housing market and said the franchisor is “ready to charge ahead” moving further into 2025.
Email Lillian Dickerson
This post was originally published on this site
