by Marian McPherson | Jul 9, 2025 | Industry, News Feed
Real estate is changing fast, and so must you. Inman Connect San Diego is where you turn uncertainty into strategy — with real talk, real tools and the connections that matter. If you’re serious about staying ahead of the game, this is where you need to be. Register now!
Last year, Jim D’Amico survived Hurricane Milton.
The storm tore through Florida’s Gulf Coast, leading to the deaths of three residents and more than $35 billion in residential and commercial damages. Amid the chaos, D’Amico, who owns Century 21 Integra, leaped into action, using funds from the brokerage’s longstanding nonprofit, Fresh Start, to help Floridians who’d lost their homes and livelihoods get their lives back on track.
The footage of cars, homes, and torn belongings floating through Texas’s Hill Country after a 26-foot river surge, which resulted in the deaths of more than 100 people on Friday, reminded D’Amico of the aftermath of Milton. He realized he needed to step in once again.
“Fresh Start was developed originally for people in recovery who might need a place to live, people returning from the military, or anyone who had a situation where they couldn’t make ends meet to fulfill their basic needs, like housing,” he said. “And then the last couple of years, it’s kind of evolved into more of like an aid mission when areas are hit with storms.”
Jim D’Amico
D’Amico opened Fresh Start’s coffers and turned his four Hill Country offices into supply stations, with agents in Fredericksburg, Seguin, and San Antonio gathering essential goods, like bottled water and nonperishable food, and delivering them to the Kerrville office for distribution.
“This is a situation where there’s no amount of money that can help heal some of the losses that have taken place in this particular catastrophe, and honestly, you know, prayers are probably more needed than anything else to help people deal with the loss of their children and other loved ones,” he said. “But, we’re doing what we can.”
“We started fundraising on Monday, and in less than 24 hours, we’ve received $5,000,” he added. “We plan to match $25,000 in donations, with a long-term goal of raising $100,000. One hundred percent of everything that’s donated is given directly to people in need.”
Alongside individual brokers, major players are stepping up to the plate, using their broad networks to support survivors, affected families, and first responders who are still navigating dangerous terrain to locate missing victims before another week of dangerous thunderstorms rolls in.
KW Cares, the philanthropic arm of Texas-based franchisor Keller Williams, has spent the past several days checking on KW’s Hill Country offices and supporting first responders. KW Cares CEO Alexia Rodriguez said all of the franchisor’s Hill Country agents have been contacted and given assistance, which includes coverage of immediate needs and eventual access to emergency grants up to $5,000 and catastrophic hardship grants up to $30,000.
The franchisor also donated $150,000 to Texas Search and Rescue and Mercy Chefs on Tuesday.
“The first thing that we’ve been doing is making sure all of our associates are accounted for. That is always our number one priority, and thank God, we have accounted for everybody in the affected areas. That’s priority number one, right?” Rodriguez said. “Now, what we’re trying to do is assess property damage. But some folks have not been able to make it back to their homes. Roads have been washed out. They just haven’t even had a chance to eyeball their property themselves.”
Rodriguez said KW Cares is working with KW’s top-line and regional leadership to craft a response plan for the coming weeks. Right now, Rodriguez said it’s important to give first responders room to continue search efforts and secure the riverfront, which is currently covered with debris from nearby homes and campgrounds.
“We can’t be boots on the ground because it’s not appropriate for us to do so right now,” she said. “But we do want to take care of the folks that are taking care of the community. So later this week, we are going to start serving lunches through our business center in Kerrville to the first responders in the area. “We want to make sure that we’re giving back to the community in that way.”
Keller Williams is only one of many brokerages and franchisors rallying their networks to support flood relief efforts, with Anywhere Real Estate, RE/MAX, Douglas Elliman, Compass, Ebby Halliday Realtors, and Epique Realty urging agents to donate to their philanthropic partners, like the American Red Cross, or to their nonprofit arms to support relief efforts.
Texas Realtors also announced its coordination with the National Association of Realtors and local Realtor associations, such as the Central Hill County Board of Realtors and Kerrville Board of Realtors, to disperse funds and other resources to communities throughout the Hill Country.
Christy Gessler
“Texas Realtors is working with and contributing to community organizations in affected areas through the Texas Realtors Disaster Relief Fund to get immediate assistance to those who need it most,” Texas Realtors Chairman of the Board Christy Gessler told Inman in a written statement. “We’re also working with local associations to identify other areas that need help, as this tragedy is ongoing.”
“We know the importance of getting funds and resources to these communities as quickly as possible, and these local organizations are actively providing essential assistance for those in need,” she added. “We also know that many Realtors in these communities and from other locations have come to lend a hand—delivering supplies, clearing debris, and helping out in any way they can.”
Although the nation’s attention is currently focused on the tragedy in Hill Country, D’Amico, Rodriguez, REAL Vice President of U.S Operations Jemila Winsey, and Spyglass Realty broker-owner Ryan Rodenbeck said they understand there will be a day when media attention fades.
Ryan Rodenbeck
“It’s going to take a long time to get all of that cleaned up. So many people lost their businesses, their livelihoods, and their family members,” said Rodenbeck, whose brokerage is raising money for the Kerr County Flood Relief Fund and several other area nonprofits. “We have to raise awareness and keep raising awareness. A lot of brokerages have newsletters, and we can use them to keep the story alive and fresh in people’s minds.”
“People are going to be hurting from this for a long time,” he added.
Winsey said the real estate community is in a unique position to help victims walk the long road to recovery.
Jemila Winsey
“What’s been hard to shake is this: just one weekend earlier, we were in Fredericksburg, 31 miles from Kerrville, relaxing with some of our closest friends over wine and laughter. It was calm, beautiful, full of joy,” she said. “And then, just days later, people nearby were clinging to rooftops and losing everything. That contrast has been hard to carry.”
Winsey said this week hasn’t been “about deals or deadlines,” as she’s helped five agents in her circle get to safety. Although everyone can’t make five-figure donations or dedicate a week to volunteering, Winsey said “small acts of kindness” — such as checking in with affected colleagues by call or text, posting links to verified GoFundMe or nonprofit fundraisers on social media, or connecting families with trusted vendors who offer rental, moving or repair services — still make a huge difference.
“Whatever it is, big or small, someone out there could really use it,” she said. “You don’t have to do everything. But doing something from the heart, really makes a difference.”
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by Matt Carter | Jul 8, 2025 | Industry, News Feed
Real estate is changing fast, and so must you. Inman Connect San Diego is where you turn uncertainty into strategy — with real talk, real tools and the connections that matter. If you’re serious about staying ahead of the game, this is where you need to be. Register now!
Fannie Mae and Freddie Mac’s federal regulator will allow mortgage lenders to start using a new credit score algorithm developed by the big three credit bureaus to take on the venerable FICO score.
But when employing the new VantageScore 4.0 algorithm, lenders will still be required to use a “tri-merge” process in which three scores are calculated separately by each of the major credit bureaus.
The Biden administration had proposed requiring lenders to use two credit scoring algorithms — VantageScore 4.0 and FICO Score 10 T — to obtain scores from two credit reporting agencies (in a “bi-merge” report), for a total of four scores.
It’s not entirely clear how the new Federal Housing Finance Agency (FHFA) policy for scoring borrowers will work — if, for instance, lenders will have the option of using VantageScore 4.0 instead of the Classic FICO score now in use, or if they’ll be required to use it in addition to Classic FICO.
FHFA Director Bill Pulte summarized the changes on the social media platform X Tuesday, saying they were “effective today.” The FHFA did not issue a press release, and Pulte did not post a copy of the official directive on X, as he has with some past orders.
The FHFA did not respond to Inman’s requests for comment.
Pulte said that Fannie and Freddie will allow lenders to use VantageScore 4.0, but that tri-merge reporting will stay in effect.
TransUnion — one of the credit bureaus behind VantageScore 4.0 — has long opposed plans to move to bi-merge reporting, claiming that using only two credit scores “will often result in an incomplete and inaccurate picture being painted of a potential borrower — particularly if a consumer’s most favorable set of credit data is the one that gets excluded.”
In a statement Tuesday, TransUnion executive Satyan Merchant welcomed FHFA’s decision to keep tri-merge reporting, saying Pulte’s comments “demonstrate a commitment to responsible mortgage lending and preserving the best possible outcome for consumers.”
“Today’s announcement means more choice for lenders and more certainty for mortgage markets, which puts homebuyers on better footing long-term,” Merchant said.
Pulte has said in the past he was “not happy” about price increases levied by the company behind the FICO score algorithm, Fair Isaac, which an industry trade group, Community Home Lenders of America, claims total 700 percent over the last 3 years.
The Mortgage Bankers Association issued a cautious statement Tuesday, saying Pulte’s proposal “could help to accomplish the goals of added competition in the credit score space and reduced consumer costs, if implemented correctly.”
The trade group said there are “numerous implementation questions” that need to be addressed in order to realize such benefits.
The MBA “looks forward to working with FHFA and [Fannie and Freddie]” to address those questions, “as well as the continued conversations around credit reporting competition,” the group said in a statement to Inman.
Assuming Fannie and Freddie will accept three VantageScore 4.0 scores (one from each credit bureau) instead of three Classic FICO scores, that could encourage competition on price.
When FICO changed its pricing structure in 2023, moving away from volume-based pricing, smaller lenders saw their costs go up by more than 400 percent, Consumer Financial Protection Bureau Rohit Chopra told industry leaders attending the MBA’s annual convention last year.
But it’s the credit reporting agencies — Equifax, Experian and TransUnion — that typically set the wholesale price that resellers pay, which is then passed on to users, Chopra said.
The credit bureaus maintain files on consumers, tracking their debts and repayment history — information that’s fed into credit score algorithms like FICO and VantageScore to generate credit scores.
VantageScore — a joint venture of Equifax, Experian, and TransUnion — claimed Tuesday that implementation of VantageScore 4.0 will boost the eligible pool of mortgage applicants by 5 million borrowers.
Fair Isaac has made similar claims about the new FICO Score 10 T, saying it can help mortgage lenders boost originations by up to 5 percent without taking on additional credit risk.
“FICO Score 10T and VantageScore 4.0 are more predictive than Classic FICO and provide a more precise assessment of credit risk,” Fannie Mae said in a January update on plans to transition to the new scores. “Also, both models consider trended credit data and additional data such as rent, utility, and telecom payments, which are not currently considered as part of the Classic FICO score.”
Legislation signed into law by President Trump in 2018 required mandatory usage of the new credit scores by lenders selling loans to Fannie and Freddie by the end of this year.
But it’s unclear if FHFA will allow mortgage lenders to start using the FICO Score 10 T on the timeline originally proposed by the Biden administration.
Historical data aimed at smoothing the adoption of the new VantageScore 4.0 model was released last year, but similar data for the FICO Score 10 T has yet to be published.
In a statement, Fair Isaac said the company “welcomes competition on a level playing field among credit score providers.” When they’re originating loans not subject to Fannie and Freddie’s requirements, mortgage lenders have “rapidly embraced FICO Score 10 T’s ability to deliver lower costs and greater access for homebuyers,” the company said.
In December, Fair Isaac announced that Cardinal Financial sold the first batch of government-issued mortgage-backed securities to include VA loans qualified using the FICO Score 10 T. More than 21 mortgage lenders use FICO Score 10 T for non-Fannie and Freddie loans, the company said at the time.
Shares in Fair Isaac lost as much as 19 percent of their value Tuesday afternoon, but recovered most of those losses to close down 9 percent.
Editor’s note: This story has been updated to include a comment by Fair Isaac.
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by Craig C. Rowe | Jul 8, 2025 | Industry, News Feed
Real estate is changing fast, and so must you. Inman Connect San Diego is where you turn uncertainty into strategy — with real talk, real tools and the connections that matter. If you’re serious about staying ahead of the game, this is where you need to be. Register now!
In the midst of an up and down market, RentSpree is making it easier for residential sales agents to access the future buying power of renters by partnering with multiple listing services. Its latest partnership is with the North Carolina-based Hive MLS, formerly North Carolina Regional MLS.
RentSpree locked down the agreement before the July 4 holiday, according to a press release shared with Inman.
Michael Lucarelli
“Our collaboration with Hive MLS reflects RentSpree’s commitment to empowering real estate professionals with modern, accessible rental technology,” said Michael Lucarelli, CEO and Co-Founder of RentSpree, in the release. “Together, we’re making it easier for agents to serve a growing segment of the market, especially in high-demand areas like the Carolinas and Georgia.”
RentSpree’s software empowers property managers, landlords and agents to quickly vet potential tenants, process applications and collect payments. It can assist with marketing available units through syndication channels, collect documents and e-signatures and help agents track rental leads as potential buyers.
RentSpree has more than 300 associations and MLSs in its partner network that primarily use its ApplyLink solution, a single browser experience that provides access to its product suite.
Hive MLS operates 19 multiple listing services with an estimated 15,000 annual rental listings.
Its name stems from a major rebrand effort intended to reflect a new commitment to adopting software and modernized operations to better serve its members.
Hive’s agents largely help consumers buy and sell in the North Carolina’s Research Triangle, the Raleigh-Durham-Chapel Hill triumvirate that is home to countless technology startups, university tech-transfer programs, pharmaceutical giants like GlaxoSmithKline and Biogen, IBM and SAS, the world’s largest privately held software company — a collective business presence that explains the region’s decades-long population growth.
“At Hive MLS, we’re focused on giving our members the tools they need to succeed, not just today but as the market evolves,” Hive MLS CEO Daniel Jones said in a statement. “RentSpree’s integration helps our members move faster, work smarter, and better serve their clients in the growing rental space.”
RentSpree’s presence in the southeast is growing in unison, with relationships already in place with Georgia Realtors, First MLS, North Carolina Realtors and RESides MLS.
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by Taylor Anderson | Jul 8, 2025 | Industry, News Feed
Mysterious newcomer plans to generate buyer and seller leads quickly after teaming up with Gannett Company to display listings across its news sites.
Real estate is changing fast, and so must you. Inman Connect San Diego is where you turn uncertainty into strategy — with real talk, real tools and the connections that matter. If you’re serious about staying ahead of the game, this is where you need to be. Register now!
A newcomer to the so-called portal wars announced a major partnership on Monday. A new portal named addressUSA has teamed up with Gannett, one of the nation’s largest news publishers, to provide another space for consumers to view home listings and generate referrals for agents.
AddressUSA, an upstart attempt to go national with a platform that has been tested in a few regional markets, would tap into Gannett’s readership as part of the years-long agreement, the companies announced.
With the move, addressUSA joins a crowded group of portals offering consumers a space to view listings online. By teaming up with Gannett, the company lands an audience that could make it a serious competitor, and Gannett gains a new revenue stream via referrals.
“Real estate information and tools are important for our audience of 195 million average monthly unique visitors as they search for a home to buy or sell or simply want to explore properties as real estate enthusiasts,” said Mike Reed, Gannett Chairman and Chief Executive Officer. “AddressUSA will enable us to drive further audience growth and engagement, enhancing the overall experience for readers to be inspired by what’s available in their local market.”
AddressUSA now becomes the latest competitor looking to go to battle for consumer attention with behemoths like Zillow, Realtor.com, Redfin and Homes.com, all of them much larger and more established brands in the space. Rather than leaning on heavy financing, addressUSA appears to be leaning into media partnerships to help it gain momentum in the crowded market.
It appears the announcement was made while addressUSA was still rolling out its website and features, as the website still showed errors and other glitches hours after the announcement, and there was no readily available place to direct questions.
The platform has several articles that were posted in recent weeks and which appear to have been written primarily by artificial intelligence.
It’s not immediately clear whether the company will be available nationwide, either, as the company provides a list of broker information in 27 states.
It appears the platform is using the broker services of a company called RE50, LLC, which offers licensing compliance services for real estate platforms operating in multiple states. That company was founded by Lee Leslie, a real estate legal expert who has served in C-suite and founder roles for companies like LendingTree Loans, HouseTech, Ten-X and Auction.com.
The news release announcing the partnership with Gannett quoted Paul Huntsman as chairman of AddressUSA. It is not yet clear if that’s the same Paul Huntsman who previously owned the Salt Lake Tribune, Utah’s largest newspaper.
Huntsman recently founded the Coronado News outside San Diego and stepped down from his role as board chair of the Tribune. On the top menu of Coronado News is a link to a platform called addressSD, a portal for homes in southern California.
“We are excited to partner with Gannett and the USA TODAY Network launching a groundbreaking real estate marketplace hub for homebuyers, sellers, real estate agents and vendors to connect,” Huntsman said in the release. “Gannett’s unrivaled reach at both local and national levels will allow us to engage with a broad and powerful audience.”
Seven of the eight featured agents listed on the website are based in Arizona. The eighth is in San Diego.
One of those featured agents is Realty One Group’s John Reckard. He said he signed up to be affiliated with the new company as an alternative to the other major portals and to begin receiving referrals.
“I haven’t had much success with it yet,” Reckard said, “but the launch just happened.”
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by Lillian Dickerson | Jul 8, 2025 | Industry, News Feed
Delistings outpaced inventory growth in June even as price cuts surged, showing that a growing number of sellers are unwilling to compromise when it comes to their selling goals.
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Active inventory hit a post-pandemic high in June as it grew 28.1 percent year over year, yet sellers are showing signs of becoming impatient with slower buyers, as delistings are also on the rise.
In fact, growth in delistings outpaced inventory growth, with delistings up 35 percent year-to-date and up 47 percent year over year in May, according to Realtor.com’s June Housing Trends Report. Even so, delistings make up a relatively small number of listings — 90,000 out of 452,000 new listings that went up in June.
As inventory continues to grow, it’s putting increased pressure on home prices, spurring some sellers to slash asking prices and causing home prices to decline significantly in some markets.
The data shows that many buyers and sellers today are engaging in a face-off of sorts.
All four major regions in the U.S. saw inventory increase in June, with inventory in the West up by 38 percent and, in the South, up by 30 percent. All 50 top metros saw annual inventory gains, too, with Las Vegas (up 77.6 percent) and Washington, D.C. (up 63.6 percent), in the lead.
Price cuts also surged in June, hitting their highest level for any June since at least 2016, with 20.7 percent of listings reducing their prices. Price cuts and growing inventory have not yet made a dent in the national median list price though, which remained roughly the same year over year at $440,950.
Credit: Realtor.com
“This year’s market is a study in contrasts,” Danielle Hale, chief economist at Realtor.com, said in a statement. “Buyers are seeing more choices than they’ve had in years, but many sellers, anchored by peak price expectations and upheld by strong equity positions, are deciding to step back if they don’t get their number. Looking forward, this dynamic will affect whether we tip from a balanced to buyer’s market, and if so, how quickly that happens.”
There’s no doubt that more homeowners are opting to take their listings off the market now, but even so, buyers still have more options at their fingertips than since the COVID-19 pandemic started. Active listings in the U.S. exceeded 1 million for the second consecutive month, Realtor.com said, placing inventory levels just 13 percent below pre-pandemic levels.
Meanwhile, delistings now make up about 4.1 percent of the market, compared to 3.2 percent of all active listings in May 2024.
Even with more active inventory on the market, it seems a growing number of sellers who aren’t gaining attention on their listings at their preferred price today are electing to delist instead of compromise with a price cut or continue to rack up days on market. From March through May, the ratio of delistings to new listings hit 13 percent, compared to the 10 percent seen during the same periods in 2024 and 2023, and the 6 percent seen in 2022.
Agents say that sellers in hot markets (Miami; Phoenix; Riverside, California) are especially likely to be selective about which offers to accept, oftentimes choosing to delist instead of compromising on their selling goals.
“We’re seeing hesitation on both sides of the market,” Anthony Djon, founder of Anthony Djon Luxury Real Estate, said in Realtor.com’s report. “Inventory is rising, giving buyers more options and making them more price-sensitive and selective. At the same time, some sellers — especially those not getting immediate traction — are stepping back. The market has clearly shifted from the urgency and intensity of recent years, and today’s homeowners are having to recalibrate their expectations.”
Update: This story was updated after publication with additional context.
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by Mariya Gordon | Jul 8, 2025 | Industry, News Feed
Inman, the leading source of real estate news, education and insights, is excited to announce that Inman On Tour Texas is back for 2025, bringing together the industry’s top agents, brokers and thought leaders for a one-of-a-kind event.
Inman On Tour Texas, taking place Oct. 9, 2025, at Union Station in Dallas, is thrilled to unveil its first speakers.
As the real estate landscape accelerates — driven by AI innovation, evolving commission structures and shifting buyer behaviors — this event is designed to equip agents, brokers, technologists and investors with the strategies and connections needed to seize the moment.
Inman On Tour Texas will bring together hundreds of forward-thinking professionals for a day of cutting-edge discussions, hands-on workshops and high-impact networking. Our program is built around three pillars:
- Cutting-edge tech insights: Unlock the latest in AI, big data and proptech, so you can stay ahead of the curve.
- Strategies to elevate your business: Learn proven approaches that scale your operations and capitalize on emerging trends.
- Engage and collaborate: Forge meaningful partnerships with the industry’s brightest minds in an interactive, peer-powered environment.
Today, we’re proud to introduce the first five speakers who embody the entrepreneurial spirit and innovative drive at the heart of Inman On Tour Texas:
- Beth and Michael Silva | founders, Happen Houston & Harvard Homes: Beth creates award-winning, architect-driven residences that reflect how modern families live. Michael has built over 100 homes and facilitated 3,000+ transactions by combining brokerage, construction and investment to deliver seamless real estate experiences.
- Dee Dee Guggenheim Howes | Realtor, Compass: With 25+ years in Houston’s luxury market, Howes orchestrates every detail to ensure top-dollar outcomes and multiple bid scenarios. Her forensic grasp of legal and financial aspects has made her a trusted advocate for buyers and sellers alike.
- Tracy Tutor | founder, The Tracy Tutor Team, Douglas Elliman: A powerhouse in Beverly Hills and now Texas, Tutor has shaped $400 million in branded real estate sales and represented landmark developments like Atlantis The Royal in Dubai. Her confidence and deep network open doors to elite clients and high-profile projects.
- Katie Kossev | managing broker, Texas, Side: An eighteen-year industry veteran, Kossev mentors brokers and agents to balance growth with well-being. A 2017 Inman Innovator of the Year, she’s guided countless entrepreneurs to achieve peak performance while building purposeful lives, earning her a reputation as a true industry champion.
- Ryan Rodenbeck | broker-owner, Spyglass: From a solo agent in 2008 to leading a 100-agent brokerage by 2022, Rodenbeck combines tech savvy with systematized processes to turbocharge agent productivity, recruitment and automation. His advisory roles with leading proptech firms inform his hands-on guidance for agencies ready to scale.
As real estate professionals confront turbulent market conditions, one truth becomes clear: Uncertainty is the new normal. From shifting commission structures to the rise of generative AI and ongoing tariff legislation, the rules of the game are being rewritten in real-time. The question is no longer whether the industry is changing, but how you will keep up.
Attendance is limited to ensure an intimate, high-energy experience. Join us in Dallas on Oct. 9, 2025, for the real estate event of the year.
Register now to claim your spot, and stay tuned for more speaker announcements.
Union Station, Dallas, Texas
Oct. 9, 2025
Taking place this October, Inman On Tour Texas will make a stop in Dallas, offering a full day of learning, networking and market-specific insights designed to empower real estate professionals with the tools and strategies needed to thrive in a rapidly changing landscape.
