by Richelle Hammiel | Jun 9, 2025 | Industry, News Feed
A wave of “Altadena Not for Sale” signs dot the yards of fire-scarred properties as a plea to preserve the communities that have been lost in January’s Eaton fire. Behind the signs, a different reality is unfolding — Altadena is for sale, and developers are lining up to buy in, the “Los Angeles Times” reported Thursday.
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A wave of “Altadena Not for Sale” signs dot the yards of fire-scarred properties as a plea to preserve the communities that have been lost in January’s Eaton fire. Behind the signs, a different reality is unfolding — Altadena is for sale, and developers are lining up to buy in, the Los Angeles Times reported Thursday.
So far, around 145 properties have been sold, 100 are currently listed and dozens are in escrow. By comparison, the Palisades, another fire-affected area, has seen fewer than 60 sales, with about 180 lots still lingering on the market.
Real estate records show that developers are behind many of the Altadena purchases, with firms Black Lion Properties, Iron Rings Altadena and Sheng Feng acquiring multiple lots. Roughly half of the lots have gone to individual buyers, while the other half were purchased in bulk by these development firms.
Six thousand homes were destroyed in the Eaton fire, leaving a long road to recovery, but sales activity has picked up each month. Homes are selling faster, too.
In the first four months of the year, the median Altadena lot spent just 19 days on the market, compared to 35 days during the same period last year, a report from Redfin shows. Prices range widely, from $330,000 to $1.86 million, with most selling between $500,000 and $700,000. Most buyers are now paying close to asking price.
For many longtime residents, the emotional toll is deep. “In a perfect world, my neighbors and I would all rebuild, and five years from now, Altadena would look the same as it did before the fire,” one resident, who asked to remain anonymous, told the LA Times. “But it’s just not realistic.”
Many families are still tangled in insurance claims or simply lack the time and resources to start over. However, help may soon be on the way.
On June 12, the state will launch the CalAssist Mortgage Fund, which will provide up to $20,000 in grants to homeowners whose homes were destroyed or left uninhabitable by recent disasters, including the wildfires, California Gov. Gavin Newsom announced on Thursday.
“We know that recovery takes time, and the state is here to support,” Newsom said. “California is extending this ongoing support to disaster victims in Los Angeles and beyond, by assisting with mortgage payments to relieve financial pressure and stress as families rebuild and recover.”
Some displaced residents aren’t waiting. According to real estate agent Chelby Crawford, 10 percent of buyers at her open houses are Eaton fire victims looking to relocate.
“Pasadena and La Cañada Flintridge are benefiting the most,” she said. “Fire victims are just excited to find their next home. It’s selling season.”
Still, some are fearful of the rapid pace of redevelopment. Altadena is known for its century-old Craftsmans, Colonial Revivals and English Tudors. Residents fear new builds and gentrification will erase the town’s charm.
Others argue that development may be the only way forward. Brock Harris, a real estate agent who sold several burned lots, said it’s mostly small developers scooping up properties. These developers typically handle five to 10 builds a year.
“If Altadena is going to come back, we need way more developers coming in to help out,” Harris told the LA Times. “Otherwise, a decade from now, it’ll look desolate and unwelcoming with one house for every five lots.”
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by Darryl Davis | Jun 9, 2025 | Industry, News Feed
If your buyers seem to be getting cold feet, dig deeper and find their why so you can help them make the right decisions, coach Darryl Davis writes.
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.
Let me ask you a question: Have you ever worked with a buyer who seemed all in — until it was actually time to move forward?
They toured homes, raved about floor plans, nodded along during conversations and maybe even started picking out paint colors in their head. But when it came time to sign? Radio silence. Cold feet. Crickets.
If that’s ever happened to you (and let’s be honest, it has), you’re not alone. One of the biggest frustrations agents share with me is wasting time with buyers who aren’t really ready — and who might not even know it themselves.
So, how do you tell the difference between a buyer who’s truly serious and one who’s just window shopping?
It comes down to this: It’s not about what they want. It’s about what they’re committed to.
Wanting vs. committing: There’s a big difference
Let me give you an example. I want a Rolls-Royce. Beautiful car. Smooth ride. I would love to be seen in one. But I don’t own a Rolls-Royce. Why? Because I’m not committed to the price tag, the maintenance or the reality of owning one. Wanting something and being willing to do what it takes to get it? Two very different things.
Your buyers might want a three-bedroom in a great school district with quartz countertops and a big backyard. Great. But unless they’re committed to navigating the process — financing, inspections, negotiations, paperwork — they’re going to stall.
If you want the truth, ask the right questions
To get past the surface and into their real motivations, don’t just ask, “What are you looking for?”
Instead, go deeper:
- “Why are you buying a home now?”
- “What happens if you don’t move?”
- “How would this new home impact your life in the next five years?”
- “What are you hoping this move will do for you or your family?”
You’re not just collecting data — you’re helping them connect to their why. Because people don’t buy homes based on square footage alone. They buy because of what that square footage represents.
For investors, dig deeper too:
- “What’s your long-term financial plan?”
- “How does this property fit into your portfolio?”
- “If you don’t move forward, what opportunity are you leaving on the table?”
You’re not selling them on the deal — you’re helping them remember their destination.
Buying a home isn’t just a transaction — it’s a vision
Here’s the truth: A house isn’t just a structure. It’s the setting for someone’s next chapter.
That kitchen? It’s where Sunday pancakes and Thanksgiving dinners happen. That backyard? It’s where the dog plays and the kids grow up. That quiet cul-de-sac? It’s peace of mind after a long day.
People don’t buy properties. They buy possibilities.
When a buyer hesitates, help them zoom out. Remind them of the bigger picture. One of the things I coach agents to say when someone’s stuck is:
“I know this decision feels big — and it is. But you’re not just buying walls and windows. You’re buying future memories, future milestones and the life you’ve been dreaming about.”
That shift — from fear to future — can break through paralysis.
Commitment calms fear
When buyers are anchored in their purpose, the fear has less room to grow.
Let’s say an investor is hesitating on a purchase. The numbers work, the property fits their strategy — but they’re stalling.
Ask:
“If this property appreciates 10 percent over the next decade, how much potential equity are you walking away from? Are you OK with that?”
Because at the end of the day, most hesitation isn’t about the home — it’s about uncertainty. When you bring them back to what they’re committed to, you help them replace uncertainty with clarity.
Your role: Less tour guide, more coach
You’re not just showing homes. You’re helping people make one of the biggest decisions of their lives. So don’t be afraid to ask bold questions. To challenge them when they’re stuck. To gently steer them back when fear or doubt creeps in.
Buyers don’t need someone to unlock doors. They need someone who can unlock their commitment to the life they’re trying to build.
The next time a buyer starts hesitating, don’t just tell them how great the property is. Dig deeper. Find their why. Speak to the vision that brought them to you in the first place. Remind them: They’re not just buying a home — they’re stepping into the next level of their life.
And if you’re feeling stuck working with buyers who can’t commit, don’t take it personally. Don’t lose heart. The most powerful agents are the ones who learn to lead with questions, coach with clarity and serve with strength.
You’ve got the tools. You’ve got the heart. You’re in the right profession — and if you’re reading this here on Inman, you’re in the right place.
Keep going. Keep serving. And remember: your job isn’t just to help buyers find a house. It’s to help them find the courage to move forward.
by Bess Freedman | Jun 9, 2025 | Industry, News Feed
As Hall Willkie steps into a consultant role at Brown Harris Stevens, CEO Bess Freedman reflects on the impact of her mentor.
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When the Michael Jordan of real estate asks you to come and work with him, you can’t say no. That’s why I came to Brown Harris Stevens some 13 years ago.
The opportunity to work with and learn from Hall Willkie was once in a lifetime. And while he is stepping into a new full-time consultancy role at BHS, he is still going to be part of the fabric of this company, working with and mentoring our agents as he has done so successfully for the past 37 years.
Forget the fact that his uncle, Wendell Willkie, ran for President back in 1940, and that Hall lived all over the world. In truth, Hall is a simple guy, a farmer, a perfectionist, a neat freak, an elegant, blue-eyed charmer who loves real estate and putting deals together.
When I first joined BHS, Hall took me on a tour of all the offices in NYC and he would straighten the magazines, window displays, even dust off counters and hide ugly wires from view.
I thought, “How is this the president of the company?!” He really rolls up his sleeves and cares about the details. I never saw this type of focused dedication at my prior company. I was used to corporate ladders with many layers between the executives and the agents. Hall was never like that — he was an open door, full access type of leader.
Back when I first came to BHS, Hall was in remission from cancer, and he shared with me that he had met this young man, aged 13, Eric Martinez, and his family while he was going through chemo treatments. Eric had brain cancer.
Hall knew I spoke Spanish and asked me to accompany him to visit the family in Brooklyn. We were soon making regular trips there to visit Erik, who was sadly deteriorating. Hall felt a true desire to send and spread some love into their family, which we did until Erik died some five months later.
This is the Hall Willkie that no one knows, except for me and a few of his very close friends. He walks into the room with an open heart, a big smile, and a willingness to do anything and everything to make the world a little bit better.
To this day, he still walks into an open house and will look at things and say, “This should be moved; that could be changed.” He always figures out a way to make the room look better. Hall started BHS with just 34 agents in NYC, and the company has now grown to over 2,300 agents across four states. His sterling reputation made this all possible.
He is a giant in the real estate world. Iconic. A generous soul who helps everyone. He understands the value of relationships more than anyone else I know. I have learned so much about selling, working with people, the super high end of the market and discretion. About taking care of people, putting the clients’ needs first, quality over quantity and doing the right thing.
Hall is the G.O.A.T — the true MVP. He’s successful in real estate because he puts people first. He never leads with transactions or business in mind. He goes above and beyond that, and today’s real estate leaders could really take a page or two from his playbook.
No matter how much tech and AI and algorithms may infiltrate this business, at its core is the ability to connect. No one is better at this than Hall Willkie. At BHS, we are fortunate to be able to lean on his values and teachings for many years to come.
by Daniel Houston | Jun 9, 2025 | Industry, News Feed
This report is available exclusively to subscribers of Inman Intel, the data and research arm of Inman offering deep insights and market intelligence on the business of residential real estate and proptech. Subscribe today.
An immigrant tech worker uncertain about the state of the economy — and their family’s future. A retiree with a suddenly shaky investment portfolio. A homebuyer hit with a shockingly high price tag for needed repairs.
These three stories of real estate transactions gone awry are just a taste of how the tariff fallout is seeping into client decisions and beginning to eat away at the margins of the brokerage industry, agents across the country told the Intel Index survey in May.
As part of its flagship monthly survey of real estate professionals, Intel found that a small but significant share of agents and brokers had already seen a deal blow up because of tariffs.
- 12 percent of agent respondents and 16 percent of brokerage leaders told Intel that they had already witnessed at least one sale fall apart as a result of the tariffs.
- Another 9 percent of agents and 4 percent of brokerage leaders in the survey said that it had not happened to one of their clients, but they had seen it happen to a client of another agent or brokerage in their market.
At this time, most agents surveyed have not yet seen an actual deal fall through for this specific reason alone.
Still, Intel sought these stories to better understand where things might be headed if current tariff levels remain in place — and especially if the temporary reprieves on even higher “reciprocal” tariffs are allowed to expire.
Agents and brokerage leaders said that the primary effect so far has been psychological — but a number of clients have been materially affected by tariffs as well.
“The tariff noises are unpredictable and chaos is reigning, which is creating an environment of instability and uncertainty in my buyers,” wrote one decision-maker at a brokerage on New York’s Long Island.
In this week’s report, Intel breaks down the most frequently cited tariff-related obstacles that real estate professionals are running across.
Wide-ranging experiences
Real estate agents whose business has been affected by tariffs reported numerous reasons given by clients.
- Roughly half of the agents who told Intel that tariffs had tanked a deal in their market said that they had seen at least one instance where the client had not yet been directly impacted by tariffs, but worried they would be in the weeks to come.
This type of general fear and uncertainty, even before any direct impact was felt, was the most common scenario that these agents witnessed killing a sale.
One agent in Charlottesville, Virginia, reported to Intel that they had seen multiple deals fall apart in March and April.
At least one of this agent’s clients used HOA documents as an excuse to back out, but “later admitted the entire reason was economic uncertainty,” the agent wrote.
In Austin, an agent told Intel they were aware of another agent’s client who backed out because he or she was increasingly fearful of both tariffs and deportation when they backed out of a home search.
The client, who worked in tech, had lived in the U.S. for more than three decades, raised children that were born here and had proper documentation, the agent said.
But it’s not just fear of a hypothetical outcome that’s giving some buyers cold feet.
The government’s ever-changing tariff policy hit financial markets particularly hard in April, with the S&P 500 falling 12 percent in value in the days after the Trump administration’s April 2 announcement of so-called “reciprocal” tariffs.
Since then, markets have recouped most of their losses from that early period as the Trump administration paused a number of the highest tariff rates and signaled a willingness to strike deals with trading partners.
But for a number of agents who had a deal on the line in April, the damage was done.
- More than 4 in 10 agent respondents who had seen tariffs tank a deal told Intel that a client had lost income from, or value within, their stock investment portfolio before backing out of a deal.
Actual job loss due to tariffs was rarely cited as a reason for a deal falling through in the earliest weeks of tariff implementation.
But loss of income or business revenue in a trade-dependent field was a relatively frequent issue for the clients who did back out, agents said. And some clients even told their agents that tariffs had already begun to push up their cost-of-living.
Another agent from New York City said one of their clients backed out of a deal after learning how high tariffs had pushed the cost of renovating the property.
This general experience was shared by 1 in 5 of the affected agents, who said they had seen tariffs raise the cost of a newly built home outside a client’s price range.
Here’s the full text and responses to Intel’s question from agents who said they’ve seen a sale fall apart due to tariffs.
Intel: You mentioned you’ve seen the tariffs contribute to at least one lost sale in your market. Which of the following scenarios have come up? Select all that apply.
- 49 percent — Client was not directly impacted by new tariffs, but expressed concern that they might be in the months to come
- 42 percent — Client lost income from, or value within, a stock investment portfolio
- 30 percent — Client did not lose a job, but lost income or business revenue in an industry reliant on international trade
- 26 percent — Client cited rising household expenses from new tariffs
- 21 percent — Client backed out of a search for new construction listings because of increased costs of material goods due to tariffs
- 18 percent — Client lost a job in an industry reliant on international trade
For now, new tariffs in imports remain a relatively rare cause of a busted purchase or sale. And based on financial market movement in recent weeks, investors appear to be increasingly convinced that the new levies will not remain in place long-term, or will not be pushed as high as once feared.
But the longer that they remain in place, and the likelier it becomes that the pauses on higher rates are allowed to expire, the more that cases like these may creep further into the mainstream.
For some brokerage decision-makers, that’s already the reality.
“The propensity for a negative business environment outweighs the indicators of positive views looking forward,” the Long Island brokerage leader wrote, “and this is directly related to tariffs, and mayhem around them.”
Methodology notes: This month’s Inman Intel Index survey was conducted May 20-June 3, 2025, and received 529 responses. The entire Inman reader community was invited to participate, and a rotating, randomized selection of community members was prompted to participate by email. Users responded to a series of questions related to their self-identified corner of the real estate industry — including real estate agents, brokerage leaders, lenders and proptech entrepreneurs. Results reflect the opinions of the engaged Inman community, which may not always match those of the broader real estate industry. This survey is conducted monthly.
Email Daniel Houston
by Spencer Krull | Jun 9, 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!
There’s the story, and then there’s the story behind the story.
The headlines read “National Association of Realtors overturns ‘no-commingling’ rule.” That sounds like a big story — an influential national organization just changed a policy that could affect millions of agents and consumers. But looking at it more closely, the headline might as well have read “NAR changes policy in attempt to show relevance.”
The story behind this story is actually the “portal war” playing out between Zillow, Compass and Redfin, along with NAR’s attempt to be a relevant player in that fight. Think of it like a monster movie where Godzilla, King Kong and Mothra (Zillow, Compass and Redfin) are going at it, knocking down buildings, setting things on fire … meanwhile, NAR is the reporter in the foreground saying, “Tokyo is burning.”
Sure, the reporter is an important character to explain what’s going on, but that reporter isn’t making it onto the movie poster.
NAR’s optional “No-Commingling Rule” (NCR) prohibited MLS listings from being displayed alongside non-MLS listings. Now, forgive me if I’m being cynical, but it’s pretty clear the purpose of this “segregation policy” was to keep MLSs and listing platforms from cannibalizing and chipping away at the dominance of the Realtor-controlled listings.
Keep in mind, the policy was never “mandatory,” it was “optional,” which hints at the behind-the-scenes power struggles back in 2005 when the policy was implemented, which set the stage for today’s portal wars some 20 years later.
Back in the early 2000s, the internet was still a shiny new object. Most people were connecting to the “World Wide Web” using dial-up modems, pages loaded slowly, graphics were low resolution, most brokerage websites were pretty barebones, and fax machines were still an office mainstay.
(For those of you not old enough to remember uncurling thermal fax paper to make photocopies, so you could drive to a client’s home to get wet signatures with an actual pen … you have no idea of the fun you missed.)
As connections got faster, the MLS provided public access through a client account set up by their agent. Access to listings was still in the control of brokerages and the MLS.
Enter IDX
The Internet Data Exchange protocol was a true game changer, allowing brokerages to set up Virtual Office Websites (VOWs) and eventually allowing individual agents to have MLS search access and listings on their own individual websites … and in some cases, in addition to the IDX fed listings on their websites, brokerages and agents were showcasing off-market/non-MLS listings.
In 2005 the industry was facing an existential dilemma — technology was moving fast, the MLSs faced losing control over their data as brokerages (even small brokerages) posed a threat to their hegemony — and NAR stepped up to level the playing field by limiting consumer choice, if only as an option: “If you want to include non-MLS listings, well, we prefer you didn’t, but if you have to, we’ll be disappointed.”
Enter Zillow
The No-Commingling Rule was implemented just in time for Zillow’s entrance in 2006, which eventually created yet another existential dilemma for brokerages, prompting some brokerages to establish policies regarding syndication and withholding listings. And then Redfin became a bigger player in the industry, and then Zillow became a brokerage, and then the iPhone and apps, and then private listing networks, and then Compass, and then REX and lawsuits, and the DOJ, and then Clear Cooperation Policy and then …
Sorry, I had to sit down because the room started spinning.
Every item on the above list was considered “industry rattling,” “game-changing” and a reason to decry the end of “the brokerage business” as we know it. That’s why news of NAR rescinding the optional “No-Commingling Rule” barely woke me from my afternoon nap.
For the record, NAR had another “major” announcement in March with their head-scratching “Multiple Listing Options for Sellers Policy,” which is yet another optional policy an MLS can choose to adopt or ignore. I hate to admit it, but I don’t fully understand why they announced this policy and what it even does, but a broker friend of mine put it this way: “It allows NAR to stay out of the fray and allows Zillow and Compass to both say they won.” I guess I’m not the only cynic in town.
In 2023, California decriminalized jaywalking. I’m glad it’s now off the books, but I didn’t really notice because, as a born and bred New Yorker, I was jaywalking anyway. And I don’t think I’d notice that NAR repealed the optional NCR if no one told me because it didn’t change how I did my job.
Whether siding with Compass and its three phase listing strategy, or rooting for Zillow and the hard line it’s taking against the three phase listing strategy, at the end of the day, the agents I work with have their shoulders to the wheel helping their clients buy and sell homes, regardless of what is thrown their way.
NAR exists to protect the industry, and that industry has changed — and so is what NAR is protecting. In light of the “settlement,” possible Department of Justice intervention, and the portal wars happening all around us, NAR needs to do more than announce (what I think are) meaningless policy changes.
Instead of manning (and womanning) the walls of the castle to fend off the [insert existential threat du jour here], it’s time for the industry to truly examine the role of the MLS in the decoupled commission universe, and how we, as an industry, can truly better serve the public. To that end, I applaud NAR’s exploration of refreshing the Code of Ethics, but don’t get me started on SOP 10-5!
To repeal a rule that was only optional to begin with is not a repeal of anything, and based on its timing, it comes off as a desperate play for attention. So, Godzilla, King Kong and Mothra might be battling it out. And Tokyo might be burning … but agents have houses to sell.
Spencer Krull is a managing broker with Side, and also works as a real estate expert witness and consultant for attorneys.
by Inman Content Studio | Jun 9, 2025 | Industry, News Feed
According to the National Association of Realtors, the vast majority of home shoppers are searching online. It’s harder than ever to grab a buyer’s attention. They’re not looking at a few homes — they’re scrolling through hundreds. Flyers don’t work, and social media doesn’t target the right people. And other real estate websites? They’re selling your leads to other agents.
Homes.com puts you back in control
We’re the only agent-friendly portal. Your listings. Your leads. Buyers see your name, your photo and connect directly with you. When you boost a listing on Homes.com, it jumps to the top of search results, in front of millions of active buyers. Your listing gets featured next to local schools and neighborhoods — plus it’s powered by retargeting ads, email campaigns and Matterports to stay top-of-mind and bring your listing to life. Boosted listings get more views, favorites and shares — which means more offers and faster sales.
Get to the front of the line
When buyers search on Homes.com, up to 1,000 listings can show up. But most buyers don’t scroll past the first page — they click on the first 40 homes they see. If your listing is stuck on page 10, there’s only a 1 in 1,000 chance it gets clicked.
You need to be on page one — where 90 percent of buyers are looking.
Boosting your listings on Homes.com moves them to the top, above other basic listings, so more buyers see them. The results? Boosted listings get an average of 120,000 views and eight times more buyer inquiries than unboosted ones.*
*All figures based on internal analyses comparing Members to non-Members on Homes.com. Boosted Listings will receive the same levels of marketing exposure.
Stay in front of buyers again and again until they act
If someone views your listing on Homes.com, we retarget them across the web with ads featuring your name, photo and contact information. We even retarget buyers and sellers who visit your profile on Homes.com. You can also upload your own email list — we’ll retarget those contacts too. On average, buyers see boosted listings 32 more times* — moving them closer to contacting you and making an offer.
*All figures based on internal analyses comparing Members to non-Members on Homes.com. Boosted Listings will receive the same levels of marketing exposure.
Let buyers tour your listing anytime, anywhere with a Matterport 3D digital twin
Busy lives mean many buyers will never walk through your home in person. When you boost your home, our professional photographers* will create a Matterport 3D digital twin and floor plan. With Matterport, buyers can explore your home anywhere, anytime — day or night, seven days a week. Buyers can take unlimited virtual tours, revisit favorite rooms and share with family and friends. They can even measure to see how furniture will fit or use our AI to digitally remove furniture.
*Matterport 3D Tour only available in select markets.
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*Based on internal analyses comparing Members to non-Members on Homes.com.
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