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There is a noticeable change in consumer behavior. More and more homebuyers and sellers are asking their agent about the economy — stock market volatility, tariff impacts, recession risks and interest rate gyrations. How do you cut through the chatter, and help clients focus on the factors that really matter?
Windermere Real Estate’s Principal Economist Jeff Tucker brings clear-eyed perspective and walks agents through what to keep top of mind when talking to their clients about the economy and what it means for their homebuying or homeselling journey.”
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At Fortune’s Workplace Innovation Summit, Zillow Chief People Officer Dan Spaulding praised the portal’s Cloud HQ and how it’s boosted employee productivity and morale.
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!
Zillow Chief People Officer Dan Spaulding dished about the benefits of remote work at Fortune’sWorkplace Innovation Summit at the end of May, saying it’s all about empowering employees to work in an environment that’s best for them — whether it’s at home, in the office or both.
Dan Spaulding | Credit: LinkedIn
“We call it Cloud HQ because we wanted to take the politics of proximity out of the equation and start from a place where remote work isn’t a perk, it’s a business strategy,” he said. “And so for us at Zillow, it’s an intentional strategy that everything we do starts in the cloud. It’s gonna be documented. It’s gonna be written down, it’s gonna be clear for our employees to follow, so whether they’re working at home or in the office together, that they know the rules of the road and, for us, it’s been really transformative on our culture.”
Even with the focus on remote work, Spaulding said Zillow still understands the power of in-person interactions. That’s why the portal invests in regular “Z-retreats” that enable employees in the same market to gather and collaborate on projects.
“Making that transparent to the company really gives our employees the ability to understand what’s happening outside of the virtual world that they work in on a daily basis,” he told Fortune.
On LinkedIn, Spaulding explained the benefits of Zillow’s Cloud HQ, saying the portal has been able to hire employees in all 50 states, increase productivity and innovation, and stoke a 4x increase in applicants per role. Spaulding said remote work has boosted morale, with 94 percent of employees saying they’re proud to work at Zillow.
“We hire adults and treat people like adults,” he said on LinkedIn. “That means giving people the freedom to choose where and how they work best — and trusting them to show up when it matters. That trust? It’s paying off.”
In February, Zillow CEO Jeremy Wacksman dove into the portal’s remote model, saying that it’s saved the company millions of dollars in overhead costs.
Since switching to the Cloud HQ model in 2020, Zillow has reduced its office footprint by 73 percent, from 1,046,413 square feet to 274,771 square feet. The company shuttered its Denver and Overland Park, Kansas, offices and dramatically downsized its offices in Seattle; New York; Atlanta, Georgia; San Francisco; and Irvine, California, according to U.S. Securities and Exchange Commission filings.
Zillow’s office reduction measures lowered the company’s leasing costs from $54 million in 2022 to $34 million in 2024. The company expects its leasing costs to drop to $18 million over the next four years, and anticipates earning $26 million in sublease income during the same period.
The portal’s moves, including Cloud HQ, have improved its bottom line.
In the first quarter of this year, Zillow turned a profit for the first time since 2022, earning $598 million in revenue and making an $8 million profit, a reversal from last year’s $23 million loss.
Get all caught up on the National Association of Realtors Legislative Meetings, including Thursday’s votes on the no-commingling and hate speech policies.
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!
Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: Get all caught up on the National Association of Realtors Legislative Meetings, including Thursday’s votes on the no-commingling and hate speech policies.
After an eventful year in the real estate industry and amid ongoing concerns about government scrutiny, the rise of AI, and political and economic upheaval, the National Association of Realtors held its midyear Legislative Meetings in Washington, D.C., this past week. On the agenda were issues related to speech, fair housing, technology, commissions and affordability.
Inman’s Andrea V. Brambila had boots on the ground during the meetings, offering unparalleled insights and asking the tough questions during a jam-packed week for the real estate industry.
In response to a question from a broker, NAR President Kevin Sears talked about NAR’s historically “rocky relationship” with the Department of Justice, driven, in part, by the trade group’s recent lawsuit over a settlement agreement from which the DOJ withdrew.
After meeting with the DOJ twice in recent months, Sears said that “there was a clear lack of understanding of how [Realtors] do business,” with the DOJ believing that agents “take advantage of” consumers. “We protect the consumer,” Sears countered, adding that he explained that to the department.
When asked what the DOJ’s “issue” was with NAR, Sears’ response was succinct and to the point: “They think we make too much money,” Sears said.
“We make too much money. That’s it. I said I represent 1.5 million entrepreneurs who choose to wake up unemployed every day. But it’s through their hard work, by representing their clients and consumers, that they can earn a living.”
Sears went on to say that this year he is “cautiously optimistic” about forging a better relationship with the DOJ.
The changes, which are effective immediately, remove references to hate speech, add a definition of harassment and make the policy no longer applicable to all of a Realtor’s activities.
The committee opted to rescind the controversial “no-commingling” policy on Wednesday, one day after NAR’s Multiple Listing Issues and Policies Committee voted to scrap it amid DOJ scrutiny, Jim Dalrymple II reports.
From concerns about changes to the NAR Code of Ethics to resources for catching up with everything that’s new and effective right now, Inman contributors provided opinions, options and support for real estate professionals looking to rethink the way they do business.
Has NAR leadership learned anything about consumers in the past 25 years? As they prepare to vote on changes, housing counselor Rachael Hite thinks they haven’t.
You are your business’s most important asset. Don’t you deserve an upgrade? Drew Thompson shares educational and inspirational resources that will give you the boost you need now.
There are plenty of factors you can’t control in the broader economy, Amy Corr writes, but there are ways to implement more control and consistency in your business.
Christy Murdock is a writer, coach and consultant and the owner of Writing Real Estate. Connect with Writing Real Estate on Instagram and subscribe to the weekly roundup, The Ketchup.
In May, Elliman requested to move the dispute into an arbitration and provided all relevant agreements to Holly Parker’s claims, according to TRD. Parker withdrew the lawsuit without prejudice, meaning she can refile later.
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Parker filed the suit back in April after Elliman demanded $1.5 million in clawbacks, including bonuses, assistant pay, advertising costs and StreetEasy fees. In return, Parker sought to void the clawback demand and recoup roughly $385,000 in damages and legal costs.
In May, Elliman requested to move the dispute into an arbitration, and in June, provided all agreements that govern the parties’ dispute. Parker withdrew the lawsuit, or discontinued it, without prejudice.
The legal dispute erupted following Parker’s February move to Compass after more than two decades with Elliman. At the time, Parker reportedly had 16 pending deals on the table. Under her 2020 independent contractor agreement (ICA), Parker was entitled to a 40 percent commission split on those deals, payable within 30 days of closing, the lawsuit states. That deadline came and went, and Parker claimed the firm still owed her nearly $193,000 after 10 of those deals closed.
Parker argued that side agreements she signed at Elliman should override her original contract. According to Parker, these agreements increased her commission split to 70 percent and included up to $205,000 in reimbursements and a performance bonus.
The lawsuit also stated, “As a matter of professional courtesy, Parker discussed her intentions to leave Elliman long before she effectuated the termination. Elliman never cited to Parker any clawback rights it believed it maintained and instead indicated to Parker that she would be paid for all pending transactions that closed within 90 days following her departure.”
Both Parker’s legal team and Douglas Elliman representatives declined to comment on the matter.
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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.
Andrea Brambila | Inman
The trade organization’s MLS committee on Tuesday approved the elimination of the controversial policy at a meeting closed to the media. Its Executive Committee will take a final vote Wednesday.
NAR President Kevin Sears addresses NAR’s Broker Engagement Council at the Realtors Legislative Meetings in Washington D.C. on June 2, 2025
At NAR’s midyear conference, Kevin Sears told brokers he was “cautiously optimistic” about improving the trade group’s relationship with the antitrust enforcer.
Courtesy of Compass
During a keynote address Tuesday, the CEO rallied the firm’s agents and staff against Compass naysayers, discussed short-term goals of seller choice and agent listing attribution, and unveiled the latest rendition of Compass AI.
The committee opted to rescind the controversial “no-commingling” policy on Wednesday, one day after NAR’s Multiple Listing Issues and Policies Committee voted to scrap it amid DOJ scrutiny.
Jimmy Burgess and digital marketing expert Josh Ries break down a system for creating multiple marketing opportunities from each open house.
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!
Anti-LGBTQ+ sentiments are rising, and according to the LGBTQ+ Real Estate Alliance‘s latest annual report, the real estate industry is at the epicenter.
The report, which is based on Alliance member surveys, revealed that real estate agents in the for-sale market (22.2 percent), outdated legal forms that require homebuyers or renters to use an outdated name or gender marker (17.8 percent) and real estate agents in the rental market (15.7 percent) are the top three sources of anti-LGBTQ+ discrimination. Homesellers (14.4 percent) and landlords (13.5 percent) are also contributing to discrimination issues, with members reporting issues with sellers and landlords refusing to sell or rent their property to an LGBTQ+ person.
Justin Ziegler
LGBTQ+ Real Estate Alliance President Justin Ziegler said the Trump Administration’s anti-LGBTQ policies — especially those attacking transgender and gender expansive (TGX) people — has created a dangerous and antagonistic environment.
“LGBTQ+ people are facing the greatest hostility since the AIDS epidemic because of the current administration’s anti-LGBTQ+ and anti-TGX executive orders, along with its efforts to end DEI,” Ziegler said in a statement. “We are troubled to learn that our members believe that real estate professionals were the leading cause of record-high housing discrimination against the LGBTQ+ community.”
“Our industry has a lot more work to do to root out discrimination and ensure that the LGBTQ+ community has equal access to fair housing and equal access to homeownership,” he added.
A third of survey respondents said housing discrimination has gotten worse over the past three years, with 58 percent of LGBTQ respondents and 42 percent of heterosexual respondents saying President Trump’s anti-transgender policies will cause more trans and gender expansive (i.e., people who eschew traditional gender identities and expressions) individuals and families with TGX children to relocate.
This uprooting, respondents said, will likely lead to poorer homeownership and financial outcomes for LGBTQ+ children.
Parents of heterosexual children were 10.4 percent more likely to believe that their child would have equal access to homeownership than parents with LGBTQ+ children. These parents were also 23.1 percent more confident about their child’s potential equal access to financial stability than parents with LGBTQ+ children.
More than 71 percent of parents with heterosexual children believe their child will have fair housing access in the future, compared to just 49.0 percent of parents with LGBTQ+ children.
“We recognize that more education is needed as those in the LGBTQ+ community had a different view than heterosexuals about numerous homeownership-related issues,” Ziegler said of the report’s findings.
In a phone call with Inman, Ziegler said the Trump Administration’s policies are forcing LGBTQ+ homeowners, especially those who are transgender or gender expansive, to consider moving to a new state or a new country to find safety. However, that safety comes at a high cost, with homeowners losing the benefit of their record-low mortgage rates and equity.
“I can’t tell you exactly how much TGX homeowners have lost, but I can tell you this: I bought a home five years ago. I sit on a 2.75 percent interest rate and my home has appreciated by about 60 to 70 percent since I purchased it. If I were to sell it, I would be sitting on hundreds of thousands of dollars worth of cash,” he said. “Let’s say I have $350,000, and if I were to take all of that cash and put it down on purchasing my same home right now, in today’s value, I would still have an increased mortgage payment, due to higher mortgage rates and appreciation trends.”
“I would not be able to afford the home that I’m living in,” he added. “And that’s the situation LGBTQ+ are facing.”
Ziegler said real estate agents are in a special position to help LGBTQ+ homebuyers, homesellers, and renters navigate a difficult housing and political landscape, but bias often gets in the way.
“The reality is the best thing that people can do in our industry is just treat everybody with dignity and respect,” he said. “Being inclusive just is going to create a stronger industry. Treating people the way you would want to be treated is going to create a stronger industry. I mean, how great would the world be if everyone were just accepted for who they are?”
“And I think that that’s, that’s probably the baseline of how to become an ally,” he added. “And even from the business standpoint of it, with homeownership being lower within the LGBTQ+ community, there are more opportunities to get business with folks in a community where the home ownership rate is lower. Why wouldn’t you want that opportunity? And all you have to do is accept people for who they are.”
Ziegler said Pride Month is the perfect opportunity for agents to connect with the LGBTQ+ community by attending local Pride events, learning about LGBTQ+ history, and finding ways they can advocate for equality in their brokerages and communities by supporting diversity, equity, and inclusion (DEI) initiatives and bills that protect LGBTQ+ rights.
The Alliance president also said this is the time for LGBTQ+ agents to be more visible and show others, especially those who haven’t disclosed their sexual orientation or gender identity, that they’re not alone.
“If you’re in a community where you feel safe to do so, now is the time to be out. Now is the time to be visible,” he said. “When I was 16 years old, I put a rainbow on the back of my car. I wasn’t trying to make any kind of political statement. I just wanted the people around me to know that they knew someone who was gay.”
“It’s very easy to marginalize someone when you feel they’re not part of your community. It’s very easy to lump someone into a ‘those people’ category,” he added. “But when you know someone, you have a relationship with them, whether they’re your neighbor, coworker or friend, it makes it a lot harder to hate on a community.”
