by Marian McPherson | Jun 13, 2025 | Industry, News Feed
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It’s been a week since the National Association of Realtors changed its Realtor Code of Ethics’ Standard of Practice 10-5, which no longer includes the terms “hate speech, epithets, or slurs” and now only applies to “Realtors’ actions in their capacity as real estate professionals.”
Although NAR has defended the changes — with NAR director Matt Difanis saying the adjustments don’t impact “the spirit” of the policy — several affinity group and inclusion leaders say the shift on which activities the policy applies will complicate brokerage leaders’ ability to hold their agents accountable for what they say or do outside of the office.
Gary Acosta
“I’m just gonna speak openly with you, and this is my own sort of speculation, to a certain degree, that NAR is doing the types of things that many corporations are doing right now,” the National Association of Hispanic Real Estate Professionals (NAHREP) Co-founder and CEO Gary Acosta said.
“They’re looking for ways to reduce potential liability, and I think they’re looking for circumstances where they may be viewed as maybe prioritizing one community over the other too much,” he added. “Whether it’s true or not, I do think that’s what all companies are sort of dealing with right now.”
The NAHREP CEO’s speculation appears to ring true, with NAR Professional Standards Committee Chair Todd Beckstrom saying on the day of the vote that the policy changes not only “provide much needed clarity to members,” but also “reduce risk to state and local associations and their volunteer leadership who administer and enforce Article 10.”
Even if the policy changes mitigate risk for state and local associations, Acosta said there could be an opposite impact for brokerage leaders looking to uphold NAR or their company code of ethics.
“I think what NAR is doing is pushing that responsibility from themselves to the individual employers who are members of their organization,” he said. “It becomes up to the local real estate brokerage and the real estate offices out there to ensure that their employees aren’t engaging in behavior that would expose the company to liability or a negative image in those communities. I think that’s the net result of the policy change.”
“I’m an employer, and if I have an employee who is engaging in hate speech, or, let’s just say, racist behavior online or somewhere else, does that give me the right to terminate that employee if it violates some code of conduct that we have within our company? I think it does,” he added. “Also, as the head of an organization, can I deny someone engaging in that kind of behavior membership in our organization? I think we can.”
Brooks Glenn | Credit: LinkedIn
Windermere Director of Inclusion and Community Engagement Brooks Glenn said he agrees with Acosta that brokerages will have a bigger responsibility in holding Realtors accountable for violations of 10-5. However, he’s concerned with brokers’ ability to manage ethics complaints and make decisions in their offices regarding discriminatory behavior, now that the policy only applies to Realtors “in their capacity as real estate professionals.”
“That limitation is an issue. It’s an issue because Realtors are public-facing professionals, and our influence extends well beyond contracts and closings,” he said. “So if a Realtor, for example, posts hate speech on social media or behaves in a discriminatory way in public, yet outside of a real estate transaction, it’s no longer considered a violation. I think that will create space for harmful behavior that could impact the communities we say we want to serve.”
In light of the policy change, Glenn said brokerages will have to strengthen their code of ethics to address all forms of discrimination and bias, which includes blatant hate speech to more nuanced situations, like microaggressions. Alongside stronger codes of ethics, Glenn also said brokerages will need to invest in diversity, equity, and inclusion training that helps agents and team members understand how to navigate racial, gender, sexual, etc. differences with respect.
“At Windermere, we’ve reaffirmed our commitment to diversity, equity, and inclusion in the space of real estate, we’ve looked at the historical harms, and what’s our role in correcting those harms,” he said. “The term DEI has been politicized, hence why my title is the director of inclusion and community engagement.”
“Community engagement is the heart of all of this — how can we position ourselves to provide access to homeownership for all? Again, this change has the potential to hurt this goal, which honestly, we should all have,” he added. “It makes us focus solely on the result, the transaction, and not the everyday abuse that happens and erodes community trust in us.”
LGBTQ+ Real Estate Alliance President Justin Ziegler said his members are worried about the change, especially given the Alliance’s latest annual report that revealed a concerning rise in anti-LGBTQ+ sentiments among agents.
“I can’t speak for everyone, but I can tell that a lot of our members feel that this is going to ultimately water down the code of ethics,” he said. “I have heard absolutely nothing that [the change] would, anyway, impede people from continuing to file a complaint. But we do worry that it will reduce Realtor organizations’ ability to ultimately rule on these types of complaints.”
Ziegler echoed Glenn’s concerns about the attempted separation between a Realtor’s actions inside and outside of a transaction or real estate activity, saying that Realtors often leverage their non-real-estate interests to build their businesses. In an attempt to make things more clear-cut, he said, NAR may have made the process of upholding Article 10 more difficult.
“Think about your typical real estate agent, unless they’re a secret agent, they probably have the fact that they are a Realtor all over their Instagram profile, all over the header on their Facebook,” he said. “And so when you think about that, if the Realtor or brokerage header remains constant at the top of the page and they’re spouting really hateful things in their posts, can you say that there is a separation between what they do in business and everyday life? I don’t think so.”
For brokers who are concerned about hiring discriminatory agents, and for agents who are concerned about hitching their license to a discriminatory broker, Ziegler said the best line of defense is having open, honest, and direct conversations about fair housing and the obligation to maintain a non-discriminatory culture.
“When you are interviewing where you’re going to ultimately hold your license, I think that it’s important to ask very hard-hitting questions about what that broker does to represent you, how they’re taking care of you, and how they run their business,” he said. “Ask them, outright, that if you were discriminated against, would they be willing to file an ethics complaint on your behalf, if you were worried about retaliation. Their answer will let you know if you’re in a safe working environment.”
“On the other side of this, for broker owners, it’s their company, right? They have built a reputation in their community, and it’s critically important to them that every agent represents that broker-owner, the company and the brand well,” he added. “If you’re a broker-owner interviewing agents, you really need to articulate the values of that company and the repercussions if you don’t uphold those values.”
All three leaders said the consequences of the policy change have yet to be seen, and it’s a toss-up on whether NAR’s intended outcome will be what happens. In the meantime, they said brokers and agents should be focused on sharpening their ethical compass and doing the work of clearly defining how an equitable and inclusive industry behaves.
“Discrimination in all forms is still illegal. I think the desire to create a meritocracy in the housing industry and other industries is something everybody shares,” Acosta said. “And I think everybody strives towards creating equality of opportunity for ourselves and the communities we serve.”
“I think this environment — the debates about DEI and NAR’s policy change — will force us to define our goals for equity and inclusion a little bit better,” he added. “And I’m not sure that that’s entirely bad.”
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by Justin Ziegler | Jun 13, 2025 | Industry, News Feed
No one in the real estate industry has the right to discriminate against or disparage a group of people, LGBTQ+ Real Estate Alliance President Justin “JZ” Ziegler writes.
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I was in Washington, D.C., for the National Association of Realtors’ midyear meetings along with the LGBTQ+ Real Estate Alliance’s Housing Policy Symposium. I met with so many Realtors and NAR leaders and was continuously reminded of how great the people in our industry are.
I participated in numerous discussions about Article 10-5 of the Realtor Code of Ethics. I even had the opportunity to speak at the open session of NAR’s Professional Standards Committee. During my time at the microphone, I shared several points, including reminders that:
- Many people in the LGBTQ+ community are fearful that their government and peers do not support their basic right to exist.
- Our members have recently indicated in a survey that real estate professionals are now the leading offenders regarding discrimination in real estate transactions.
- “Freedom of speech” is granted by the First Amendment and protects Americans from the government restricting their ability to speak freely but does not apply to private trade organizations like NAR.
While there were several people who had dissenting views — and some of them were flat-out bigoted and homophobic — the overwhelming sense I got, inside and outside the room, was that no one was in favor of allowing discrimination to rear its ugly head anywhere near our industry, including the buying and selling process.
Almost everyone agreed that Realtors have a unique role in the markets they serve, where they routinely engage with members of the public and generate business in almost every aspect of their lives. This includes visits to the supermarket, social media, philanthropy work and even their kids’ youth sports events. The list goes on.
Just about everyone agreed that it is nearly impossible to distinguish how a person’s discriminatory actions wouldn’t continue to be a violation of the Code of Ethics, no matter how the Board of Directors voted. Our “real estate-related” activities are woven into all facets of our lives.
Yet, after many hours of debate, NAR’s Board of Directors easily passed the new language in Article 10-5:
“Realtors, in their capacity as real estate professionals, in association with their real estate businesses, or in their real estate-related activities, shall not harass any person or persons based on race, color, religion, sex, disability, familial status, national origin, sexual orientation, or gender identity.
“As used in this Code of Ethics, harassment is unwelcome behavior directed at an individual or group based on one or more of the above protected characteristics where the purpose or effect of the behavior is to create a hostile, abusive, or intimidating environment which adversely affects their ability to access equal professional services or employment opportunity.
NAR’s Board passed the amendment knowing that the National Fair Housing Alliance has reported record-high levels of housing discrimination. The Alliance’s LGBTQ+ Real Estate Report just showed that housing discrimination against the LGBTQ+ community is on the rise as real estate professionals are once again the leading culprit of how such discrimination shows itself in the buying and selling process.
Many members of the LGBTQ+ Real Estate Alliance are upset. They wonder why NAR saw fit to make a change when even tighter standards are needed.
I agree with them. All I could do was share the rationale I’ve heard from those who voted in favor of the amendment.
Thankfully, several NAR leaders are joining our members this Friday afternoon for a town hall with Alliance members to address the changes in Article 10.5.
Alliance members won’t back down when confronted with anti-LGBTQ+ rhetoric. Nor do we believe that our estimates of 80,000 Realtors with an LGBTQ+ child will stand for any kind of bias. When we see it, we will say something. We will work with local, regional and state associations to ensure that offending Realtors are known.
The overwhelming number of Realtor-instances of discrimination against the LGBTQ+ community have been “unconscious bias,” and so many, including the 2,500 who have taken our Alliance Certified Ally Course, want to learn and get better. Those who have been intentional have been identified by our members and dealt with at the local level as appropriate.
No one in our industry has the right to discriminate against or disparage a group of people. If you need a reason why I believe that, look at the second column of page 1 of NAR’s Code of Ethics:
“Realtors can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, ‘Whatsoever ye would that others should do to you, do ye even so to them.’”
It really is that simple.
Justin “JZ” Ziegler is a real estate broker and serves as the 2025 national president of the LGBTQ+ Real Estate Alliance. Connect with him on Instagram and LinkedIn.
by Dani Vanderboegh | Jun 13, 2025 | Industry, News Feed
Turn up the volume on your real estate success at Inman On Tour: Nashville! Connect with industry trailblazers and top-tier speakers to gain powerful insights, cutting-edge strategies, and invaluable connections. Elevate your business and achieve your boldest goals — all with Music City magic. Register now.
Every Friday, Inman Service Editor Dani Vanderboegh rounds up the most popular, most read, most critical stories of the week to give you a quick catchup on the big headlines you might have missed in the hustle and bustle of the workweek. Here’s this week’s Top 5 as chosen by our readers.
P.S. Don’t miss The Download, our weekly column that breaks down one of the week’s top stories and equips you with what you’ll need to meet next Monday head-on.
The $3.95 million settlement in the Nosalek case removes the option to display compensation to buyer brokers via the MLS and goes up for final approval in September.
Whether you’re a new agent or a seasoned pro needing to regain momentum, geographic farming isn’t just a marketing tactic — it’s a foundation, Jimmy Burgess writes.
Don’t go silent this summer. Reach out to past clients, and show them you care with these strategies from coach Darryl Davis.
Credit: Canva
In 2024, investors drove 11 percent of all U.S. home sales — the highest share in more than two decades. That translates to nearly 509,000 properties sold, according to data released Tuesday by Realtor.com.
NAR Senior Counsel Matt Troiani addresses NAR’s Professional Standards Forum at the Realtors Legislative Meetings in Washington D.C. on June 3, 2025
The concept of who brings the buyer that completes a real estate sale will remain, though it may come up less frequently in commission disputes, according to the trade group.
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by Nick Schlekeway | Jun 13, 2025 | Industry, News Feed
Put effort into the before, during and after of the listing appointment to position the property and generate additional leads from the process, Nick Schlekeway writes.
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Winning a listing doesn’t come down to charm or luck — it comes down to process. It’s a skill, a system and most importantly, a mindset. To elevate your listing game, you must master each of the three stages: pre-listing, listing and post-listing.
These stages are your roadmap — not just to secure the listing, but to earn trust, stand out from the competition and turn your sellers into raving fans. Let’s break them down.
Stage 1: The pre-listing advantage
Most agents lose the listing before they ever show up because they don’t take the pre-listing stage seriously.
Before you walk through the door, your job is to gather intel, build trust and position yourself as a professional.
That starts with asking the right questions in your pre-listing call:
- What updates or renovations have you done to the home?
- What are your favorite parts of living here?
- If you could change anything about the home, what would it be?
- Why are you moving?
- What are you hoping this move will do for your lifestyle?
These questions don’t just give you insight into the property — they tell you what matters most to the client. They also allow you to relate on a human level. Are they relocating? Starting a new job? Going through a life transition? That’s your cue to share a personal story, build empathy and create a connection.
Bring a pre-listing packet. Confirm the appointment with intention. And always, always show up with a mindset of service, not just presentation.
Stage 2: The listing appointment
This is your moment to lead. To show up prepared. To demonstrate that you’ve done your homework.
That means knowing the comps, the actives, the pendings and the properties that didn’t sell. The last thing you want is to get stumped by a seller who says, “Well, what about that house around the corner?” and you have no idea what they’re talking about.
The listing appointment is not just about pricing, though that’s a big part of it. It’s about presenting your process, articulating your marketing strategy and helping them feel confident that you’re the right person to guide them through the sale.
And here’s a hard truth from my own experience: Don’t forget to bring the agreement. Years ago, I went on a listing appointment, crushed the presentation, and the sellers told me they wanted to work with me. The only problem? I didn’t have a listing agreement with me. I figured I’d send it the next day.
Big mistake.
By the time I followed up, they had changed their mind and listed with someone else. Always be ready to close. When sellers are excited and ready to go, don’t let the opportunity pass you by.
Stage 3: Post-listing follow-up
Whether you win the listing or not, the post-listing stage matters just as much.
If you secure the listing, it’s now time to execute. Schedule the staging. Get the photographer. Start the marketing machine.
But more importantly, communicate. I recommend doing weekly seller huddles. Keep them updated on showings, new listings in the neighborhood and feedback from potential buyers. Even if there’s no news, that is the news. Don’t leave your clients guessing.
If you don’t get the listing? Don’t disappear. That’s where your follow-up game kicks in. Send a thoughtful thank you. Maybe they mentioned a life event — follow up with a small gesture that shows you were listening.
You never know when the first-choice agent will drop the ball. Stay top of mind, stay professional, and keep the relationship alive.
So many agents pour all their energy into the listing appointment itself, but if you’re not putting equal effort into the before and after, you’re missing out on business you could’ve had.
Pre-listing is about positioning. The listing appointment is about performance. Post-listing is about professionalism.
Nick Schlekeway is the founder of Amherst Madison, a Boise, Idaho-based real estate brokerage. Connect with him on LinkedIn.
by Jimmy Burgess | Jun 13, 2025 | Industry, News Feed
Since the NAR commission suit settlement, buyer agents have faced new rules, new documents and a new normal. This month, Inman drills down on Today’s Buyers Agent with the fresh marketing strategies, skills and tools buyer agents are using to prosper in changing times.
Sometimes the difference between a struggling agent and a top agent isn’t massive; it’s minor. But those small, consistent habits make all the difference. In this market, especially, it’s the agents who show up with discipline, strategy and intention who continue to grow.
This article shares seven specific habits that top agents consistently practice and why they work.
1. They start every day with lead generation
For top agents, lead generation isn’t something they do when they have time; it’s the non-negotiable that starts every single day. Whether it’s social media outreach, circle prospecting, database calls or open house follow-up, they prioritize creating new business before anything else.
Many now start each morning with social media DMs to past clients, prospects or sphere contacts based on life events. A birthday, a job promotion or a move can all serve as great conversation starters. Others send short, personalized video messages about new listings or record unsolicited video CMAs to past buyers. These agents know that starting the day with proactive communication leads to opportunities and momentum.
They also segment their efforts based on urgency. For example, they may reach out to hot leads with property updates, touch base with cold leads using educational content and re-engage past clients with value-based check-ins. This layered, purposeful outreach builds stronger and more consistent pipelines of business over time.
2. They build a personal brand
While struggling agents often react, the best agents are proactive. They stay top-of-mind by consistently showing up in front of their audience on social media, YouTube, via email communication or even through direct mail. They reinforce their brand through education, storytelling and community engagement.
Top agents know that consumers choose people, not companies. So they focus on being relatable, knowledgeable and visible. They share client stories, market updates, neighborhood insights and behind-the-scenes moments that humanize their brand and deepen connections.
Their brand becomes a magnet. It keeps them top-of-mind and first in line when a client is ready to make a move or has the opportunity to refer a potential client.
3. They prioritize reviews and referrals
Top agents know a happy client is the best lead magnet. But they don’t just let good service speak for itself; they amplify it through reviews. They actively collect reviews through platforms such as Google, Zillow and Facebook. They don’t stop at gathering 5-star ratings; they turn those reviews into social media posts, email content and listing presentation proof points.
They also leverage the power of storytelling. Instead of saying “another one sold,” they highlight the client’s journey: the challenges faced, the solutions provided and the outcome achieved. These narratives build credibility and emotional resonance.
And most importantly, they ask for referrals with intention. They send follow-up emails after closings, thank-you notes after reviews and occasional check-ins with past clients that include a gentle reminder to send business their way.
4. They invest in coaching, training and masterminds
Growth doesn’t happen in isolation. Top agents surround themselves with ideas, accountability and support. They attend masterminds and conferences where they gain perspective from peers in other markets. These gatherings help them identify trends early, learn about new marketing strategies and stay motivated.
This learning doesn’t just come from masterminds and conferences; they also invest their time and money in training. Whether it’s learning how to leverage AI, refining their negotiation skills or sharpening their listing presentation, they understand the market is always changing, and the agents who stay relevant are the ones who keep learning.
Most top agents also work with a coach. Coaches help them create systems, hold them accountable and accelerate breakthroughs. Whether it’s weekly calls or monthly strategy sessions, coaching creates clarity and consistency.
They realize learning isn’t an event; it’s a lifestyle.
5. They treat their CRM like a gold mine
Your CRM holds untapped opportunities. Top agents know this and treat it accordingly. Tom Ferry has said that roughly 8 percent of any database will transact each year. Based on this belief, if you have 500 contacts in your database, roughly 40 are likely to buy or sell. It’s just a question of who they’ll choose.
Understanding this, top agents deliver consistent value to their database. They send property alerts tailored to each contact’s interests. They create segmented email campaigns. They send video market updates. They make their database feel like a VIP club, not just a spreadsheet.
One standout strategy is the “Deal of the Week,” first taught by Sharran Srivatsaa. Each week, the agent highlights one listing, often the best buy the agent sees on the market that week in a specific category (luxury, first-time buyer, fixer-upper, etc.). This approach creates curiosity, triggers responses and keeps the database engaged.
These consistent touches build relationships, and those relationships build business.
6. They focus on listings, not just buyers
The best agents understand that buyers can consume time, but listings offer leverage. While buyers are important, listings drive market presence, efficiency and scalability.
They structure their business to attract sellers through strategies that include but are not limited to:
- Sending unsolicited video CMAs to homeowners
- Farming specific neighborhoods with high turnover rates
- Using direct mail to share just-listed/just-sold updates
- Hosting neighborhood events to build local recognition
When you control listings, you control inventory, and that positions you as a local expert. Listings also generate buyer leads, improve your online presence and create more predictable revenue.
Top agents know that listings lead to leverage, and leverage leads to growth.
7. They build momentum in the slow seasons
When other agents take their foot off the gas, top producers hit the accelerator. They use slow seasons to sharpen their skills, deepen their relationships and plant seeds for the future.
They double down on marketing, host educational events and reconnect with past clients. They batch content, update their systems and train their teams. Because of this, when the market heats up again, they’re ready. They’ve already created momentum, and that momentum becomes listings, referrals and closings while others are still trying to get back into rhythm.
Top agents don’t just weather the slow season; they win it.
If you’re looking to grow, start with one of these habits. Get consistent. Then add another. Success isn’t about being superhuman. It’s about doing the right things every day, even when no one’s watching.
That’s how top agents create separation from their competition and build businesses that thrive in any market.
Jimmy Burgess is a real estate agent and national team builder with Real Brokerage in northwest Florida, serving the 30A, Destin, and Panama City Beach markets. Connect with him on Instagram and LinkedIn.
by Taylor Anderson | Jun 12, 2025 | Industry, News Feed
After posting losses in 16 of the past 18 quarters, Opendoor implemented the latest in a string of layoffs on Wednesday, primarily on the iBuyer’s sales side, Inman has learned exclusively.
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Opendoor let go of another 40 employees on Wednesday in what the company is describing as a targeted restructuring within its sales operation as it seeks to reverse an ongoing string of losses and build new revenue streams outside of buying and selling houses, Inman has learned exclusively.
According to an internal email obtained by Inman and a confirmation from the company, Opendoor said it implemented its latest round of staff reductions as part of a shift to become a “multi-product, multi-channel” company.
The layoffs were the latest in a series of restructuring and maneuvers aimed at finding a path toward profitability and growth after the company rose to become the largest, and one of the only remaining large-scale, iBuyers.
“Yesterday, Opendoor implemented a small, targeted restructuring, primarily within our sales organization,” an Opendoor spokesperson told Inman. “This change reflects our continued shift toward a unified go-to-market strategy — one that brings sales, marketing and industry channels into tighter alignment.”
The restructuring included transitioning 70 more employees into unspecified new roles, the company said.
The changes were only the latest sign that Opendoor was continuing to evolve after years of challenges to its primary model of buying homes, rehabbing them and selling them, ideally at a profit.
Notably, Opendoor has been talking more about generating revenue through a program involving referrals with agents and other “asset-light” revenue streams.
“By integrating these functions, we’re building a more sales-centric organization that better supports both our direct-to-consumer and partner agent strategies,” Opendoor said. “It’s a deliberate step toward creating a leaner, more asset-light business — one that can serve more customers and scale with discipline.”
The latest shift follows a trend for the iBuyer, which has posted collective net losses of nearly $2.8 billion in the 18 quarters since going public in its quest to buy homes and sell them at a profit.
Cutting toward profitability?
But while the company scaled to become the largest within the iBuying sector, it has consistently struggled to post a profit and has in recent years sought to evolve beyond the core iBuying concept.
Opendoor has posted a profit during just two of the past 18 quarters, according to the company’s earnings reports dating back to the fourth quarter of 2020, when the company went public.
In that same time, other companies that also had significant iBuying segments — perhaps most notably Zillow — abandoned the attempt to profit from iBuying at scale.
Meanwhile, Opendoor’s cash and cash equivalents has fallen 76 percent from its peak in early 2022, when it was using some of its $2.3 billion to ramp up its home-buying efforts amid a red-hot market.
At the end of the third quarter of this year, when Opendoor reported an $85 million loss, the company had $559 million cash and cash equivalents.
Amid the slowdown, the company has shifted its members of leadership and trimmed staff in multiple rounds.
In April 2023, Opendoor lopped off 560 positions, or 22 percent of its workforce, as it weathered a sharp downward shift in the market after several years of growth.
Last year, the company announced it had let go of about 300 employees “as part of a reorganization aimed at prioritizing strategic growth and driving long-term efficiencies,” according to its annual earnings report released in February. Those layoffs followed a $78 million loss in the third quarter of 2024.
The company finished 2024 with 1,470 employees, it said in its annual earnings report. 1,128 of those employees were in the U.S., the company said at the time.
During the first three months of this year, Opendoor laid off another 65 employees, which it said represented 5 percent of its workforce at the time. Those figures suggest the company had 1,300 employees.
That would mean that, after Wednesday’s layoff, Opendoor has approximately 1,195 employees, a figure the company declined to confirm on Thursday.
If the upheaval wasn’t enough, Opendoor is also working to engineer its way out of a threat of a different kind.
Just last week, Opendoor announced that it was planning to implement a stock maneuver in an attempt to stay publicly listed on the Nasdaq Composite after its stock fell well below the $1 per share minimum in April and stayed there. On Thursday, Opendoor’s stock closed at $0.60 per share.
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