by Marian McPherson | May 1, 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!
ERA Summit broker-owner Laura Garner entered 2025 with renewed confidence.
Laura Garner
December and January yielded increasing sales for her 40 associate brokers, setting the stage for a robust spring homebuying season. Garner expected sales to jump once again in mid-March; however, the month ended up being one of the worst on record for her team.
She immediately began diving into market stats to find the culprit behind the sudden dip: Was it the limited inventory? What about home prices? They were up 13 percent. Did tariffs scare buyers off? Maybe so, even though her brokers hadn’t flagged any issues.
TAKE THE INMAN INTEL SURVEY FOR APRIL
Amid her search for answers, the market suddenly rebounded, with Garner’s team winning more listings than they’ve had in two years.
“We’ve felt and seen a significant shift over the last couple of weeks. We have buyers that have been kind of, quote, unquote ‘on the fence’ but now seem to be ready to make that move,” she told Inman. “But, I don’t know. Is this just a seasonality? Is this just a temporary uptick? Is this something that’s going to be carried a little more permanently? I kind of feel like even though we had a slow start to the spring season, things might end well. Maybe I’m just being optimistic, but it’s what I’d like to see happen.”
Gavin Payne
RE/MAX Premier broker Mike Opyd and Better Homes and Gardens Real Estate Haven Properties broker-owner Gavin Payne described similar starts to the spring market, where buying and selling trends, at times, seem to be in contention with each other. Sellers are bullish about bringing new inventory to the market, while buyers, despite having more choice than they’ve had in two years, are holding back.
“We’re experiencing what I would describe as sort of a herky jerky start to the year,” Payne said. “We sort of have this surge, and then things will slow down, and then we’ll have a surge, and things will slow down.”
Although mortgage rates, tariffs, and affordability challenges undoubtedly play a role in buyers’ skittishness, Payne said how buyers feel about the statistics seems to be more powerful than the statistics themselves.
“It’s about uncertainty. Leading into the election last year, there was tremendous uncertainty, so things slowed down. After the election, there was a pickup. Then we have the inauguration, and things got unsettled again. This ebb and flow, I guess, is probably based upon people’s confidence more than anything else.”
Mortgage rates and tariff fears double-whammy homebuyers
National Apartment Association VP of Research and former Realtor.com Senior Economist George Ratiu said March’s paltry performance is a reflection of homebuyers’ waning confidence in the market, due to rising mortgage rates and uncertainty surrounding tariffs.
George Ratiu
“March is sort of the beginning of the spring homebuying season,” he said. “The expectations are that activity picks up. Sellers bring homes to market. Buyers return in larger numbers. So by and large, this decline in activity for March, for some people, signals a much softer market.”
Rates leading into March were promising, with the average 30-year fixed-rate mortgage dropping 11 basis points week over week to 6.76 percent during the week of Feb. 27. The drop brought mortgage rates to the lowest level in two months, stoking a cautious optimism among economists.
Mortgage trends remained positive into March, with average rates dropping again to 6.63 percent during the week ending March 6. The following weeks brought slight increases, with rates reaching back toward 6.7 percent by the week ending on March 20. The jump in average rates from 6.63 percent to 6.67 percent pushed total mortgage application volume down 6.2 percent — a foreshadowing of March’s 5.9 percent month-over-month drop in existing home sales.
Mortgage rates continued to increase in April, with averages reaching 6.81 percent during the week ending April 24. Although the difference between 6.63 percent and 6.81 percent seems small, it can translate to a considerable increase in monthly mortgage costs.
For example, if a homebuyer purchases a median-priced home with 20 percent down and a mortgage rate of 6 percent, their monthly mortgage would be $1,900, Ratiu said. However, a rate increase to 7 percent would boost the monthly mortgage to $2,100 — a $200 difference.
“That $200 a month is significant, considering that for many families and buyers, that could cut into their budget for other things,” he said. “Think about food, think about commuting expenses, gasoline and so on. So obviously, when we talk mortgage rates, even a few basis points can make the difference between being able to afford a home or not.”
A developing trade war magnifies that $200 difference, economists told Inman.
Orphe Divounguy
Trump announced a 10 percent reciprocal tariff on all imports on April 9, but promised to levy heftier tariffs on goods from Canada, Mexico, and China. The president placed a combined tariff of 145 percent on Chinese imports, and Chinese leader Xi Jinping responded with a 125 percent tariff on U.S. exports.
Zillow Chief Economist Dr. Orphe Divounguy said it’s unclear exactly how much the cost of goods, including those essential to housing, will go up in the coming months. The best-case scenario, he said, is that tariffs will yield “a one-time shock” in prices. The other, more difficult scenario is that tariffs yield multiple price increases as countries up the ante with a series of retaliatory policies.
“But ultimately, we have no idea how this is going to play out, which makes forecasting very difficult right now,” he said. “So in terms of the things that we do know for the housing market, specifically, if tariffs stay pronounced and if economic growth slows, [the Federal Reserve] might be able to step in to kind of rescue the U.S. economy from a potential economic contraction. And again, that’s going to depend on what they’re seeing. Right now, they’re waiting on the sidelines to see what happens.”
First-time buyers continue to get squeezed
Market headwinds continue to hit first-time homebuyers the hardest, with NAR reporting that first-time buyers accounted for 32 percent of sales in March — a share identical to the previous year.
Despite inventory levels rising on an 8.1 percent monthly basis and 19.8 percent on an annual basis to 1.33 million units at the end of March, median home prices still rose to a March all-time high of $403,700.
Jeff Tucker
“It’s a really tough market for first-time buyers, and there’s no getting around that,” Windermere Principal Economist Jeff Tucker said. “At least for existing homeowners, they have benefited from the recent rise in home prices that, especially if they owned back in 2020 or 2021, then that rise in the value of their current home should help give them a lot of home equity to put toward their next one. But first-time home buyers don’t have that advantage.”
Realtor.com Chief Economist Danielle Hale said the portal’s latest survey data shows a competitive landscape for first-time homebuyers, as 81 percent of sellers nationwide expect to get at or above their asking price. Homebuyers in the Northeast and Midwest will face the stiffest competition this spring, Hale said, thanks to for-sale inventory in those regions trending behind availability in the South and West.
“Sellers, interestingly enough, are quite optimistic,” she said. “I think in many markets, there’s still the balance of the market is tilted towards sellers nationwide. The months of supply [at the current sales pace] is four, which is what we consider the start of a balanced market. In affordable markets in the Northeast and the Midwest, we see more market hotness, so sellers are likely to be in an even better position there.”
But for those who decide to stick it out, economists said there’s more wiggle room to negotiate than last spring.
Divounguy said Zillow data showed that 24 percent of sellers cut their asking price in March, and Ratiu said Realtor.com’s data showed that 18 percent of sellers cut their asking price — both of which represent a nine-year high for March.
Mike Opyd
“What that tells me is that the reality in which properties linger on the market longer, even though there’s demand, buyers are obviously being more careful,” Ratiu said. “There’s a normal and welcome tension between what sellers want and what buyers are willing to pay.”
Opyd, who works in Chicago, echoed the economists’ findings. He said homesellers still have the upper hand; however, they’re more flexible with negotiating sales prices and occasionally offering other incentives, such as closing cost credits.
“A couple of years ago, when something hits the market, all of a sudden they got 30 offers, and you’d have to give your firstborn just to have a shot,” he said. “I haven’t quite seen that level of craziness this year, but I’m still seeing multiple offers, so I still think there’s that interest level there.”
“The offer I just got accepted two days ago was about $10,000 under list price, and I got a closing cost credit,” he added. “So, I’ve seen flexibility in certain areas.”
The silver lining: new-home sales
While existing-home sales flopped in March, new residential sales soared.
New-home sales rose 6 percent year over year to a seasonally adjusted annual rate of 724,000, exceeding analysts’ expectations of 680,000. The new-home median sales price dropped 7.5 percent year over year to $403,600, slimming the gap between the median price of an existing home and a new home to $100. Relatively affordable prices matched with homebuilder incentives mean the new-home market is ripe with opportunity.
Danielle Hale
“Construction activity is different in every region, so some buyers have more opportunities to consider new construction than other buyers. Based on our research, homebuyers who consider new construction are more likely to encounter potential incentives like mortgage rate buy-downs,” Hale said. “And depending on the region that you’re looking in, we see builders trying to build smaller homes to address the more affordable portion of the market. So I think for homeshoppers who might not have considered new construction, it can be a more viable alternative.”
While tariff fears are hovering over the existing-home market like a wall cloud, homebuilders currently see the burgeoning trade war more like cirrus clouds, barely making a mark in a sunny sky.
“If you listen to the National Association of Home Builders, they’re worried about the potential impact of tariffs in terms of building materials and components. But then you listen to builders’ calls, and you realize that, actually, maybe some of those estimates [about the impact of tariffs] might have been somewhat on the higher end,” Divounguy said. “As long as there’s demand for housing, builders are going to show up.”
Ratiu said recent lumber futures, which are the sales contracts for two-by-fours, offer some reassurance that new-home prices won’t balloon the way they did under Biden’s 2021 tariff policy, when booming lumber prices tacked $36,000 onto the cost of a new home. Ratiu said lumber futures are around $570 per 100 linear yards, which is $170 higher than the historical average of $400, but far less than the $1,300 per 100 linear yards that sidetracked the new home market earlier in the pandemic.
“I think for construction companies, the last year or so, even with prices still rising, has been fairly positive,” he said. “A lot of new homes that are on the market today are priced for the construction costs of about six to eight months ago. When you think about that, the process that it takes to get a new house built is generally a multi-month process. So if anything, we might not see the new home prices reflecting any higher tariffs for quite a few months.”
It all comes down to managing confidence
Ruben Gonzalez
As for what the remaining spring season will look like, the economists Inman spoke to said it’s nearly impossible to predict whether sales will meaningfully improve. Tariff fears, alongside mortgage rates, will be the deciding factor in how homebuyers and homesellers move through the market.
“I think the continued theme of uncertainty will drive the market,” Keller Williams Chief Economist Ruben Gonzalez said. “We’re going to have to continue to monitor the pattern of mortgage rates. I think we have some optimism that as policy uncertainty, hopefully, begins to dissipate, we’ll see things start to pick up in the summer months.”
Garner, Payne and Opyd said they’re cautiously optimistic about the spring and the impending summer market. While they expect home sales to largely mirror 2024, the trio said there’s a unique opportunity to build consumers’ confidence by offering them timely, hyper-local data that provides nuance to national trends.
“There’s a lot of information and misinformation out there about what’s happening in the market,” Payne said. “You know, people are talking about bubbles bursting and all sorts of catastrophic things happening. I tell my agents those are the things that we need to combat by leading the conversation.”
“We can’t really drive people to market,” he added. “But we can give them the most accurate information we have about what’s happening, so they can make an educated decision when they’re ready.”
Email Marian McPherson
This post was originally published on this site
by Jim Dalrymple II | May 1, 2025 | Industry, News Feed
The Compass Private Exclusive Book will be available for any agent to view in a Compass office. The book project comes as Compass increasingly makes private listings a core part of its strategy.
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!
In a sort of throwback to the origins of the first multiple listing services, Compass is preparing to deploy physical books filled with private listings and viewable in company offices.
The company calls the project the “Compass Private Exclusive Book,” and told Inman exclusively that it will officially launch in May. In a statement, the company described the books as “a curated collection of Compass Private Exclusives available for viewing in Compass offices.”
Physical books will be updated weekly, while a virtual version will receive updates in real time. Compass added in the statement that “agents from all brokerages are invited to visit any Compass office to individually browse Private Exclusives listings on a 1:1 basis.”
The Compass Private Exclusive Book comes as the brokerage increasingly makes private listings — which it dubs “Compass Private Exclusives” — a keystone of its marketing efforts. Such listings are the first part of Compass’ “3-Phase Marketing Strategy” and up until the book project were viewable exclusively through the brokerage’s platform.
After debuting privately, listings using the 3-Phase Marketing Strategy then move to “coming soon” status, before finally heading to the local multiple listing service for the broader industry to view.
Compass has argued that the strategy gives sellers freedom to market properties as they see fit, and that it lets sellers try out different staging and pricing plans. Critics, however, have suggested that Compass simply wants to keep listings for itself and that doing so reduces transparency in the market. The debate over private listings has polarized the real estate industry, and last week Compass sued Northwest MLS over rules that block private listings in Washington state.
In its statement about the Private Exclusive Book, Compass seems to have anticipated further debate and responded to several ideas that have come up in criticism of private listings. The company’s statement notes, for example, that the book is meant to “promote greater transparency and collaboration” and that “private isn’t hidden, exclusive isn’t secret.”
“The majority of Compass Private Exclusives that sell off-MLS are co-brokered with non-Compass agents,” a Compass spokesperson said in the statement. “Compass is now the only brokerage sharing all off-MLS listings with the entire brokerage community. Unfortunately, there is a persistent false narrative suggesting the motivation behind Compass Private Exclusives is to double-end deals, which couldn’t be further from the truth.”
The statement adds that if “Compass’ goal was to double end deals, it would keep office exclusives in-house as NAR’s Clear Cooperation Policy allows, but instead, Compass is sharing its Private Exclusives with the entire brokerage community.”
A company spokesperson also said that the goal is not to recruit agents. Industry members who visit a Compass office to view a book will not be asked for contact information for recruiting purposes.
Compass also argued in its statement that the Compass Private Exclusive Book “supports fair housing, as any potential group of buyers, regardless of race, color, religion, sex, familial status, national origin, disability, or other characteristics protected by the Fair Housing Act and other civil rights statutes, can visit a Compass office to view these listings.”
Compass plans to place private listing books in all markets, the statement also notes, beginning with the largest local offices and expanding from there as demand necessitates. And while Compass has met opposition to its private listing strategy from Zillow and other entities, it does not anticipate opposition to its book.
“The National Association of Realtors, the MLS, and Zillow are not expected to prevent Compass from sharing with all agents and consumers given NAR’s MLS Antitrust Compliance Policy, stating, ‘Boards and associations of Realtors and their MLSs shall not prohibit or discourage participants from taking ‘office exclusive’ listings,’” the statement notes. “NAR also recently clarified that any agent can share a Private Exclusive on a 1:1 basis with agents at other brokerages and/or clients.”
Though launching a physical book of listings today is an unusual move, it does harken back to a bygone era. Decades ago, agents used to meet in person to share listings with each other. Eventually, those listings were compiled into books and evolved into the first multiple listing services. Finally, in the 1990s and beyond, those books migrated to the then-new internet and were later syndicated to public-facing portals like Zillow.
In its statement, Compass nodded to that history.
“This initiative reimagines the spirit of the original MLS books,” the company’s statement notes, “by providing a centralized, physical resource to discover unique properties while respecting the privacy, security and marketing strategies of today’s sellers.”
Update: This post was updated post-publication after Compass provided Inman with an updated press release on the private listing book.
Email Jim Dalrymple II
This post was originally published on this site
by Bernice Ross | May 1, 2025 | Industry, News Feed
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!
You have just taken a new listing and plan to market it directly to consumers in print, on the web and on social media. Almost no one, however, has a game plan to market to other agents. If you want to stop leaving money on the table and get your listings sold faster, here’s a five-step plan to reach the agents most likely to bring you an offer.
5 reasons to market your listings to other agents
1. Executive reviews: Bring in the firepower
Long before video walkthroughs or virtual tours became the norm, Jon Douglas Company pioneered a unique idea that led the company to dominate the market in Brentwood, Beverly Hills, Bel Air and Santa Monica, California, in the 1990s: the “executive review.”
The purpose of the executive review was two-fold — to ace out the competitors for the listing and to increase the probability that the seller would set a realistic asking price.
In our office, the listing agent typically invited at least three top-producing agents to the executive review, along with a manager or assistant manager. Each member of the team answered several questions about where the property should be priced, selling points and any issues that needed the seller’s attention.
Especially when we conducted them as part of the pre-listing process, our executive reviews were extremely effective at converting leads into signed listings. Sellers were impressed that a team of agents showed up to help them, and even more so when they were introduced to a member of our management team.
At the listing appointment, the agent would share the pricing and other feedback from the executive review team. The agent would then present their CMA and ask for the sellers’ feedback about where they wanted to price the property. When I was the agent going for the listing, I didn’t recommend a price — I wanted to see how they responded to the team’s pricing first.
If any members of the executive review team had a buyer who was a fit, the listing agent could leverage that by telling the seller that one of the agents was excited about showing the property to their buyer. Also, agents on the executive review team often knew other agents who had buyers for the listing.
Pro tip: Executive reviews help you win more listings, price the property correctly, and get the property sold faster, usually at a better price.
2. Target the right agents, not the whole MLS
When it comes to marketing to other agents, identify which agents consistently list and sell homes in the area where the property is located. Also, look for agents who have buyers searching in the same price range as your listing lead.
The next step is to identify which agents represent the buyers (not just the sellers) for properties located close to your listing. These buyer agents are your priority audience. They’re already dialed into local demand and are likely to have buyers who would be a good fit for your listing.
Pro tip: Create your own VIP emailing list of top buyers’ agents. When the listing agreement is signed and your listing is ready to come on the MLS, invite them for an “exclusive first look” at a specific time where they can drop in and preview the property without an appointment. Be sure to invite the agents from your office who have buyers as well.
3. Leverage listing agents with active buyers
If an agent has a listing in the same neighborhood as yours, they probably have a list of buyers who weren’t a fit for their listing. Review their listing(s) to determine how yours compares. Then, if you have the listing agent’s mobile number, text them using the following script:
“Hi [Agent Name] — Sally Agent here from ABC Realty. I have a new listing that might be a fit for any buyers who contacted you about your current listing but weren’t a fit for that property. Would you like me to send over some info?”
Before sending this message, be sure you have prepared a detailed package about the property that includes top-quality photos, a short video walkthrough (easily shot on your phone) and a polished digital brochure. Your goal is to make it easy for these agents to get back in touch with previous buyers for their listing without spending time pulling data from the MLS.
Pro tip: Most agents appreciate having an edge that gives them easy access with their buyers prior to the first public open house. Best of all, this establishes you as an agent they can trust, and one who is willing to work with them.
4. Contact agents in feeder markets
In addition to contacting agents who have listings where your listing is located, also contact agents who have listings in nearby areas that are less expensive. Agents with active listings in these “feeder” neighborhoods often have sellers or buyers looking to upgrade to your location.
You can use the same preview-and-reach-out approach that you used with listing agents with properties near your listing. It’s a smart way to find additional high-probability buyers for your listing and snag a quick sale.
Pro tip: When reaching out to feeder-area agents, position your listing as a “move-up opportunity” to help them frame it attractively for sellers in their area.
5. If you feed them, they will come
Broker open houses where you serve food have worked for decades to motivate agents to see your listing in person. Despite all the tech advances, nothing beats having agents walk through the door to view the property in person. A well-attended broker open house means more feedback, more buzz and more buyer leads. As a bonus, it also shows your seller you’re pulling out all the stops to market their property aggressively.
Pro tip: Create a theme for your open house, such as “Brunch and Browse” or “Taco Tuesday.” Promote it aggressively through your agent network to maximize attendance.
Marketing to other agents requires time and effort, but the payoff can be huge: more offers, happier sellers and fewer days (and dollars) spent while your listing languishes on the market. While other agents may be competitors when it comes to listings or on multiple offers, they are still your best source for locating the right buyer with the right offer for your new listing. Take advantage of it!
Bernice Ross, president and CEO of BrokerageUP and RealEstateCoach.com, and the founder of RealEstateWealthForWomen.com, is a national speaker, author and trainer with over 1,500 published articles.
This post was originally published on this site
by Erin Krueger | May 1, 2025 | Industry, News Feed
If you don’t define your real estate team’s culture, it will define itself, author and team leader Erin Krueger writes. And that’s a risk you can’t afford to take.
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!
There’s a dangerous myth about real estate teams — the idea that success is simply about strategy and hard work. If you master the market, deliver amazing customer service and work hard, success will automatically follow.
Strategy alone won’t save you. Hard work alone won’t elevate you.
The real secret? Culture.
Because a business without culture is like a house without a foundation — it might look strong on the outside, but the first storm will bring it crashing down. You can have the most talented individuals, but if they don’t work well together, your company will crumble.
I’ve seen it firsthand. I’ve built, refined and protected my team culture with the same intensity that I sell homes. I want to share a blueprint for building a business that doesn’t just survive, but thrives.
Great culture doesn’t happen by chance; it demands ongoing commitment, clear values and authentic leadership. These ideals cultivate an environment where everyone feels valued and empowered to contribute to a shared vision and achieve extraordinary results.
We are in an era when employees and team members no longer just want a paycheck. They want purpose. They want to be part of something bigger. They want to feel valued, challenged and supported.
When a culture is strong, your team moves like a championship-winning sports team — each player knows their role, supports each other and is working toward a common goal. When a culture is weak, it feels like you’re constantly fixing issues — miscommunications, disengagement, high turnover and that underlying feeling that something is “off.”
So, how do you create a culture where people want to work, thrive in their roles and stay long-term? It comes down to three essential pillars: build intentionally, nurture consistently and monitor actively.
1. Build intentionally: Culture doesn’t happen by accident
What is the biggest mistake I see business leaders make? They let culture happen instead of shaping it. Culture is like a house — if you don’t build it intentionally, it will crumble under pressure.
That’s why, from Day 1, I decided that the culture of my team would be built on integrity, trust and a relentless commitment to growth.
What does this look like in practice?
- Hiring for values as much as for skills
- Setting clear expectations and holding people accountable
- Leading by example — because you can’t ask your team to do what you aren’t willing to do
If you don’t define your culture, it will define itself. And that’s a risk you can’t afford to take.
2. Nurture consistently: Culture is like a garden. Neglect it, and it dies
Culture isn’t something you set once and forget. It’s a living, breathing thing that needs constant attention. Think about it: You don’t plant a garden and expect it to thrive without watering, pruning and tending to it. The same applies to your team.
How do you nurture culture consistently?
- Celebrate wins — big and small. Don’t wait for massive milestones to acknowledge hard work
- Check in regularly — not just on results, but on how your team is feeling
- Encourage growth — whether it’s training, mentorship or new challenges
The strongest cultures are not built overnight, but they are built daily.
3. Monitor actively and protect relentlessly: Culture is your competitive advantage
Here’s the hard truth: Not everyone is meant to stay on your team. One of the toughest lessons I’ve learned in leadership is that the wrong person in the right culture can destroy it.
There were times I kept someone on my team because they were producing excellent results, but they weren’t aligned with our values. And every time, it cost me. Negativity can spread faster than positivity, and a disengaged team member can pull down even the strongest players.
So, I started treating culture like a non-negotiable. If someone didn’t align, I had to make a change, no matter how difficult the decision was. Protecting your culture isn’t about being harsh. It’s about being committed to the team you want to build. Because at the end of the day, your business will only be as strong as the culture you protect.
Building a thriving team culture isn’t easy. It takes commitment, clarity and courage.
But when you get it right? Your team becomes your biggest asset. Your business grows effortlessly because people love what they do. You don’t have to chase success — it comes to you.
Remember: The greatest leaders don’t just build businesses. They build cultures that last.
Erin Krueger is the author of Capture the Culture and team lead at The Erin Krueger Team, Compass in Nashville. Connect with Erin on LinkedIn and Instagram.
This post was originally published on this site
by Darryl Davis | May 1, 2025 | Industry, News Feed
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!
Did the title of this article upset you? Good — it should, because that’s the subtle, yet clear, message Zillow has been sending to consumers while our industry has been busy fighting itself.
Over the past several years — and especially the past few months — while we’ve debated policies, filed lawsuits, bickered over the Clear Cooperation Policy (CCP) and splintered into competing business models, Zillow has quietly and methodically positioned itself as the central hub of the real estate transaction.
Let’s be honest: They didn’t outsmart us — they simply outlasted our unity.
Divide and conquer
Zillow’s strategy has been brilliant opportunism. By capitalizing on the lack of cohesion among Realtors, they’ve stepped into the void as the “consumer champion,” filling in the gaps that we left wide open.
While industry leaders argue over Clear Cooperation, exclusives and listing timelines, Zillow shows up with a polished statement about “transparency” and positions itself as the savior for buyers and sellers.
Errol Samuelson, Zillow’s chief industry development officer, recently said:
“We will continue to advocate on behalf of the consumer. It’s the right path for the industry, and we know the companies that will succeed are those that deliver for consumers, not those that put their own interests ahead of the needs of the homebuyers and sellers they purport to represent.”
Let’s pause for a moment. Who is he talking about when he says “those”?
He’s talking about you. He’s talking about real estate professionals
This is a textbook example of Zillow elevating its public image while disempowering the perception of agents. It’s subtle, but make no mistake — it’s strategic.
By framing themselves as “pro-consumer,” they are implying Realtors are “self-serving.” This weakens us in the eyes of the public … and strengthens Zillow’s grip.
Zillow’s latest chess move
As I’m sure you’re aware, NAR recently came out with another new MLS listing option called the “MLS Option with IDX Feed Delay” (a ridiculous and confusing rule from NAR that I recommend agents not even bring up on a listing appointment). In response to NAR’s new policy, Zillow published its own Listing Standards Policy, which only added to the confusion.
The big question many people have is: “Does Zillow’s threat to ban listings apply to NAR’s new IDX Feed Delay policy?”
Every press release and communication from Zillow so far does not make this point clear.
Recently, Errol Samuelson posted on Zillow’s LinkedIn page to supposedly address this confusion, but if you read it, like I have (several times), it still isn’t clear.
So, I asked myself: Why doesn’t Zillow simply say, in print, “NAR’s new MLS Option with IDX Feed Delay is exempt from our banning policy”?
By the way, I’ve received a lot of calls from people I respect in our industry telling me that Zillow has verbally told them that NAR’s new policy is exempt from Zillow’s ban threat … but again, back to my question:
Why don’t they tell the consumer this clearly in their printed policy?
Why do they say one thing privately to the real estate community but leave it vague for the public? Well, I finally figured it out. Here it is: Because vagueness is the strategy.
By being unclear, Zillow gets to say to the consumer: “We’re pro-consumer. NAR isn’t.”
While at the same time having personal conversations with us, they say: “We’re your partner; we got your back.”
You see — if they clearly told consumers that NAR’s new policy is compliant under Zillow’s standards, they’d be showing public support for NAR. But that’s not their strategy.
Their strategy is, while NAR and the Realtor community are bogged down with ridiculous rules and fighting each other, to make Zillow shine as the “pro-consumer advocate.”
They’re using this entire situation as another opportunity to elevate themselves as the consumer’s hero, while subtly implying that Realtors are only out for themselves.
Here’s the worst part: There are industry leaders today who are hailing and applauding Zillow.
Zillow’s not just playing chess — they’re playing us.
Zillow’s real endgame: Total control
While we’ve been distracted by policy fights, lawsuits and finger-pointing, Zillow has been executing a master plan to become the dominant force for all real estate needs — just like Zillow co-founder Rich Barton created Expedia to take over travel.
Zillow isn’t just a listings portal anymore. It’s taken billions in agent-paid ad dollars and used them to build a vertical empire:
- Dotloop: transaction management
- ShowingTime: appointment setting and access control
- Follow Up Boss: CRM and lead nurturing
- Aryeo: listing media management
- VRX Media: photography and visual content
- Spruce: title and escrow services
Piece by piece, Zillow has inserted itself into every stage of the real estate transaction.
As Brian Boero, co-founder of 1000watt, perfectly said: “Zillow is now less portal, more platform. The days of agents simply advertising on it are gone. It’s now a competitor. Full stop.”
And they did it using Realtor money.
How we take back our industry
We don’t need outrage. We need action. Here’s how we start:
1. Stop feeding the beast
If you’re still giving Zillow your ad dollars, stop. Would you pay your competitor to out-market you? That’s exactly what’s happening.
2. Update MLS photo policies
MLSs need to allow the listing agent’s contact info in the final photo. One simple change — and buyers will know exactly who to call. No confusion. No third-party reselling leads. Real leads, going back to the real listing agent.
By the way, to all those real estate companies who would like to increase their bottom line and sell more of your listings, this one change would certainly accomplish that.
3. Get involved in MLS and association committees
Rules aren’t made online — they’re made in meeting rooms. Volunteer. Vote. Speak up. Push for agent-first, consumer-friendly policies.
4. Audit your brokerage tools
Before you hand another dollar to Zillow, use what you already have. Most agents are sitting on incredible marketing tools provided by their brokerages that they aren’t even using.
5. Embrace grassroots marketing
Neighborhood open houses, YouTube listing videos, Instagram ads, Facebook groups, direct mail with lead capture, door knocking and attending garage sales, just to name a few, are all valid ways to get in front of potential clients. You don’t need Zillow to reach buyers. You need creativity, relationships and hustle.
Zillow doesn’t have to be the villain. But they are definitely not our savior. They are a tech company with shareholders — not stakeholders in your career.
This isn’t about banning Zillow. It’s about balancing the power. It’s about remembering that we are the industry, not the platforms that repackage our work.
It’s time to take it back.
This post was originally published on this site
by Verl Workman | May 1, 2025 | Industry, News Feed
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!
When you’re great at your business, you attract more business; often, more than you can handle. This can cause stress in other areas of your life like family, faith, friends, fun and fitness. However, you can have it all — with great life balance — if you learn to delegate and focus your time on the right activities daily. This often requires an agent to step into leadership and build a team.
Launching a real estate team is a significant step that requires careful planning and execution. A structured timeline not only helps you strategically plan and delegate effectively but also ensures that your team has a clear direction from the start. By incorporating time-tested, proven strategies, you can enhance your team’s potential for success. Here’s a detailed guide to setting up a clear and actionable team launch timeline.
Weeks 1-2: Clarify your vision and set foundations
Define your ‘Why’: Clearly articulate why you want to start a team. Consider your professional goals and personal motivations, such as more family time, higher productivity or the desire to mentor others. This will help shape your team’s culture and purpose. I’ve always emphasized the importance of aligning personal and professional goals to create a cohesive team vision.
Your first hire: Begin by assessing your daily activities and identifying tasks that are non-dollar-producing. A simple way to identify what you need to delegate is simply track what you do in 30-minute increments each day for the next two weeks, then at the top of the page write “$250 per hour.”
As you go down the margin, ask this question on every 30-minute task: “Would I be willing to pay $250 an hour for someone else to do this?” If the answer is no, then you should delegate that task.
We know that prospecting for listings generates, on average, $7,000 per hour — if you delegate non-dollar-producing activities. Then, if you focus your time on generating new business, you will never have to worry about paying your assistant. This will help you see the type of assistance you’ll need.
Start drafting a detailed job description for your assistant or virtual assistant. Run ads on Wise Hire, and get your first assistant hired. Take advantage of templates and tools to streamline this process, ensuring you focus on high-impact activities.
Weeks 3-4: Hire and train your assistant
Hiring: Making smart hires is critical to the success of your future team. Use your clearly defined job description to attract and hire an assistant. Whether virtual or in-person, your assistant will handle critical tasks, freeing your time to focus on lead generation and client relationships. Tap into your network to see who might be able to offer guidance on effective recruitment strategies to find the right fit for your team, including leveraging their extensive network and resources.
Training, onboarding and delegation: Begin training your assistant using recorded videos and clearly defined processes. Essential tasks to delegate immediately include:
- Email management and scheduling
- Client care and communication
- Transaction coordination
- Preparing listing and buyer presentations
- Field services and so much more
The key is that for anything you do three times, you need to create an operations manual with a Zoom video on how to do that task. As you teach your admin, record the sessions so they have a quick, easy reference on how to do the tasks without going back to you constantly.
As a leader, you have full responsibility to make sure things are done correctly, so inspect what you expect, especially for the first few months as you learn to trust each other.
Weeks 5-6: Attract and onboard initial team members
Begin agent attraction: Start searching for your first agents and other team roles. Clearly communicate your vision, the team’s culture and expectations for each role.
Buyer’s agents: For every listing you have, you should be gaining six to eight buyer leads per month. Once you have 25 leads, you need to hire a buyer’s agent. This is designed to maintain a high level of service and ensure that each lead is adequately followed up on.
Commission structure: Create a compensation structure that motivates the leader to let go of the buyers. I recommend a tiered commission structure for buyer’s agents to align incentives and promote productivity. This would be 40 percent for the agent on their first two transactions per month. Then the agent receives 45 percent for their third and fourth transactions. Finally, for their fifth transaction and beyond, they receive 50 percent.
Structured onboarding: Develop and execute a structured onboarding process, ensuring all new team members receive consistent training, resources and support from Day 1. I’ve found over the years that the use of onboarding templates and mentorship programs can facilitate this process. I have used a 30-60-90-day onboarding plan so that new agents are up and running and on track to complete two transactions per month.
Weeks 7-8: Team integration and growth
Team integration: Focus on team cohesion through team-building activities, regular check-ins and performance reviews. Reinforce a culture of continuous improvement and open communication. Emphasize the importance of fostering a positive team culture and provide resources for team-building strategies.
Assess and adjust: Regularly assess your team’s performance, client feedback and your own time allocation. Adjust strategies and processes accordingly to maintain growth and balance. Take full advantage of performance tracking tools and coaching to help you make data-driven decisions.
Maximizing your time and productivity
Throughout the entire process, consistently redirect the time saved from delegation into lead generation, client relationships and strategic planning. At least 50 percent of the reclaimed time should be focused on income-generating activities, ensuring continued business growth and personal fulfillment. The feedback I’ve received is that coaching and support helps maximize productivity, allowing you to focus on high-value tasks.
If you are thinking about a team, you already need one. I have always maintained that if you don’t have an assistant, you are one. I can’t take you to a place where you have amazing life balance and a phenomenal business when you spend 70 percent or more of your day doing tasks and activities that you could easily delegate. The time is now; don’t procrastinate any longer.
Following this real estate team launch timeline ensures clarity, focus and efficient progression toward your goals. By following this structured approach and leveraging available resources, you’ll build a sustainable, successful team that enhances your professional effectiveness and quality of life.
Verl Workman is founder and CEO of Workman Success Systems. Connect with him on LinkedIn or Instagram.
This post was originally published on this site
