by Christy Murdock | Apr 26, 2025 | Industry, News Feed
With platforms and portals pushing back against its policies, is the National Association of Realtors losing its grip on the industry?
Bigger. Better. Bolder. Inman Connect is heading to San Diego. Join thousands of real estate pros, connect with the power of 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!
Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: With platforms and portals pushing back against its policies, is the National Association of Realtors losing its grip on the industry?
After holding sway for decades as the country’s most powerful trade organization, the National Association of Realtors (NAR) may finally be losing control of some of the platforms and entities that drive real estate sales in the U.S.
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Recently, both MLSs and that nation’s largest portal, Zillow, have pushed back on NAR policies with changes that seemingly ignore the group’s rules. This comes alongside months of debate regarding NAR’s internal organizational practices, handling of the commission lawsuit settlement and a Clear Cooperation debate that raged among industry leaders prior to the implementation of a new Multiple Listing Options for Sellers policy.
EXTRA: Biggest MLS in the nation rejects NAR ‘Delayed Marketing’ policy
In addition, a post on Zillow’s LinkedIn page culminated in a battle royale with CEOs from all sides joining in the comments.
Beginning in December, Zillow began to change the way listings are made visible on its portal platform in defiance of NAR’s no-commingling policy.
Four years after it complied with NAR’s no-commingling rule, Zillow is quietly reversing course to allow the display of non-MLS listings alongside other properties on the platform, having previously obscured them with a filter many users never knew existed.
In markets where local MLSs never enacted the rule — or recently rescinded it — users of the search portal will now see more properties in their search prompts by default, including for-sale by-owner (FSBO) listings, non-MLS auctions and buildable floor plans.
EXTRA: Auction.com says its listing views are up with Zillow commingling
NAR has long defended the policy and repeatedly rebuffed efforts to eliminate it.
As power shifts and practices recalibrate, you need to come at your own business informed and prepared, with knowledge about what’s next and systems that pay off both now and in the future. This week, Inman contributors offered perspective on where the industry is headed, along with how-tos you can use to be ready for anything.
State regulators are scrutinizing Realtor practices and mandating consumer-friendly, fiduciary-level professional behavior, Summer Goralik writes.
Shift your business out of survival mode when you adopt a CEO mindset, implement smart processes and procedures, and scale with the future in mind, broker Jessica Souza writes.
In the face of economic headwinds and shifting market dynamics, brokerages must embrace change with clarity, strategy and agility, The Agency’s Rainy Hake Austin writes.
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by Alyssa Stalker | Apr 26, 2025 | Industry, News Feed
The smartest agents aren’t just selling homes anymore, branding and marketing expert Alyssa Stalker writes. They’re building scalable income ecosystems that grow with them.
Bigger. Better. Bolder. Inman Connect is heading to San Diego. Join thousands of real estate pros, connect with the power of 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 agents don’t have to wait on closings to build additional income. These leveraged income ideas will help you grow smarter revenue streams this season.
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Spring is a season of growth, and that includes your income streams. With market cycles becoming less predictable, many real estate professionals are looking for ways to generate consistent revenue outside of closings. The good news? You already have the tools, expertise and audience to do it.
Whether you’re interested in building a digital asset, monetizing your influence or diversifying through investing, these passive income strategies are designed to work with your business, not compete against it.
1. Turn your tools, templates and processes into digital products
You probably already have systems, resources or marketing materials that others would pay for. Instead of building a full course, start with something simple: a homebuyer checklist, seller prep packet, onboarding email sequence, open house kit or even a Canva template for agent marketing. These can be listed on platforms like Stan Store or Etsy and promoted through your existing content.
If it saves you time or solves a problem in your business, it can likely do the same for someone else. No need to reinvent the wheel. Just package what’s already working behind the scenes.
2. Recommend tools you actually use (and get paid for it)
If you’re using CRMs, email platforms, schedulers or AI tools to run your business, you’re sitting on referral income. Most of these tools offer affiliate programs. Share what works for you through tutorial videos, blog posts or a “resources I use” page, and you’ll build long-term commissions while helping other agents succeed.
Popular affiliate-friendly tools in the real estate space include:
3. Promote your brokerage’s revenue share program (strategically)
If your brokerage offers revenue share or referral bonuses, approach it like an opportunity, not a recruitment pitch. Agents are looking for more freedom and stability. When you share how your brokerage supports that through systems, stories and lifestyle, you invite curiosity.
Use testimonials, real-life results or behind-the-scenes content to position your brokerage as part of your business ecosystem, not just where you hang your license.
4. Monetize your audience with affiliate-friendly finds
A strong social media presence can unlock affiliate income through platforms like Amazon, LTK or ShopMy. Recommend products that make sense for your brand: move-in must-haves, home office setups, staging props or client gift ideas. This content performs well on Reels, TikTok and Pinterest and helps build trust with your audience while opening an additional revenue stream.
5. Invest in real estate passively with fractional platforms
You don’t need to be a landlord or have a lot of capital to build wealth through real estate. Fractional ownership platforms like Arrived or Fundrise let you invest in income-generating properties with low barriers to entry. They handle management while you potentially earn rental income and appreciation.
Bonus: Sharing your investing journey can spark content that educates your audience and attracts future clients or agent partners interested in wealth-building strategies.
Passive income in real estate doesn’t require a massive audience or a second job. It just takes strategy. Leverage what you already have: your expertise, systems, tools and influence. Pick one idea to focus on this spring, and commit to showing up for it consistently.
The smartest agents aren’t just selling homes anymore. They’re building scalable income ecosystems that grow with them.
Alyssa Stalker is a real estate branding strategist and host of the Above Asking podcast. Connect with her on LinkedIn or Instagram.
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by Matt Carter | Apr 25, 2025 | Industry, News Feed
In April, we’ll go deep on money and finance for a special theme month, by talking to leaders about where the mortgage market is heading and how technology and business strategies are evolving to suit the needs of buyers now. Inman’s Best of Finance returns for 2025, celebrating the leaders in this space. And subscribe to Mortgage Brief for weekly updates all year long.
Three former Wells Fargo executives who were fined $18.5 million by the bank’s federal regulator in January for their alleged role in a 2016 scandal involving problematic sales practices are on track to settle those enforcement actions for just a fraction of that amount.
The Office of the Comptroller of the Currency (OCC) — under new leadership appointed by President Trump in February — announced Friday that it’s reached settlements with two of those executives totaling $150,000. The OCC won’t comment on the status of the case of the third executive, who is challenging a $10 million fine in court.
The OCC had previously levied a $7 million fine on former Wells Fargo Chief Auditor David Julian and a $1.5 million fine on his deputy, former Executive Audit Director Paul McLinko. Under the terms of the settlement, Julian will pay $100,000 and McLinko will pay $50,000, without admitting wrongdoing.
In a Jan. 14 decision, Acting Comptroller of the Currency Michael Hsu affirmed rulings by an administrative law judge, who in a 2022 hearing determined that Julian and McLinko had failed to plan and manage audit activity that would have detected the problematic sales practices that persisted at the bank for more than a decade.
“This case stems from one of the largest scandals in banking history,” Hsu said in his decision. “Under pressure to meet unreasonable sales goals, thousands of employees at Wells Fargo engaged in a collection of practices [that] included opening millions of unauthorized customer accounts, transferring funds without customer consent, lying to customers that certain products were available only as a package with other products, enrolling customers in online banking and bill-pay without their consent … and falsifying customers’ personal information.”
Hsu, who headed the OCC during the Biden administration, stepped down on Feb. 10 and was succeeded by Trump appointee Rodney Hood.
Julian and McLinko appealed Hsu’s decision the day after it was issued, with attorneys for McLinko calling it and other rulings against their client “arbitrary, capricious [and] an abuse of discretion,” and “infected by multiple prejudicial evidentiary and procedural errors.”
A March 13 scheduling order gave attorneys for Julian and McLinko until April 22 to file briefs with the U.S. Court of Appeals for the District of Columbia, with final briefs from all parties due on July 7. But on April 1, the court suspended the briefing schedule with no explanation.
A spokesperson for the OCC declined to comment on why it chose to settle with Julian and McLinko rather than defend its previous orders in court, saying it “does not comment on specific enforcement actions beyond what is published [on] our website.”
Attorneys for Julian and McLinko declined to comment on the record.
Julian and McLinko each signed consent orders saying that they agreed to settle with the OCC “to avoid the costs associated with future administrative and judicial proceedings” without admitting the allegations against them, or the findings and conclusions of the administrative law judge.
In the third case, Hsu on Jan. 14 ordered former Wells Fargo Community Bank Group Risk Officer Claudia Russ Anderson to pay a $10 million civil money penalty, agreeing with an administrative law judge’s finding that she “failed to institute effective controls to manage the risks” posed by the bank’s sales practices.
Anderson appealed the case the next day, and has until May 12 to file a brief with the U.S. Court of Appeals for the District of Columbia. The OCC declined to comment on the status of that case.
Having settled with Julian and McLinko, Anderson’s case is the last of 11 enforcement actions the OCC pursued against 11 former Wells Fargo executives related to the bank’s alleged systemic and widespread sales practices misconduct.
All told, the OCC has collected more than $43 million in fines from Wells Fargo executives to date. That’s on top of the $185 million in fines the bank agreed to pay the Consumer Financial Protection Bureau (CFPB), OCC, and City and County of Los Angeles in connection with the scandal in 2016.
Carrie Tolstedt, the former head of Wells Fargo’s Community Bank, was the only Wells Fargo employee to face criminal charges for her role in the cross-selling scandal.
Tolstedt was sentenced to 12 months of probation after pleading guilty in March 2023 to obstructing the government’s investigation into the bank’s sales practices.
While the OCC originally sought a $25 million civil penalty against Tolstedt in 2020, she eventually settled for $17 million.
Tolstedt, who also reached a $3 million settlement with the SEC, collected a $125 million retirement package from Wells Fargo, although the bank “clawed back” $67 million of that compensation, CNN reported at the time.
In February of last year, Tolstedt and her husband, Brad, sold a home in Phoenix for $7.8 million, then bought another home in August for $5.9 million, The Arizona Republic reported.
Other former Wells Fargo executives who paid fines to the OCC in the wake of the cross-selling scandal include:
- Former Chairman and CEO John Stumpf ($17.5 million)
- Former General Counsel James Strother ($3.5 million)
- Former Chief Administrative Officer Hope Hardison ($2.25 million)
- Former Chief Risk Officer Michael Loughlin ($1.25 million)
- Former Community Bank Group Finance Officer Matthew Raphaelson ($925,000)
- Former Head of Community Bank Deposit Products Group Kenneth Zimmerman ($400,000)
- Former Head of Community Bank Human Resources Tracy Kidd ($350,000)
In a separate case in 2021, Wells Fargo agreed to pay the OCC a $250 million fine over the bank’s practices for helping homeowners having trouble paying their mortgages.
In 2022, Wells Fargo agreed to pay $3.7 billion to settle allegations by the CFPB that it harmed millions of consumers over a period of several years through widespread mismanagement of mortgages, auto loans and deposit accounts.
Once the nation’s largest mortgage lender, Wells Fargo was overtaken by direct lender Rocket Mortgage (then known as Quicken Loans) in 2017. It’s no longer ranked among the nation’s top 10 mortgage lenders, but could be poised for a comeback this year as it makes progress in getting out from under a $1.95 trillion asset cap that’s limited the bank’s growth.
If the asset cap is lifted as the bank continues to close consent orders imposed by regulators, Wells Fargo could gain more capacity to originate jumbo mortgages that exceed Fannie Mae and Freddie Mac’s $806,500 conforming loan limit and hold those loans on its books.
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