Solid Earth lands on BeachesMLS partnership

Solid Earth lands on BeachesMLS partnership

by | Jun 2, 2025 | Industry, News Feed

BeachesMLS has hired software company Solid Earth to provide an enhanced, agent-facing interface to its front-end productivity experience.

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In a partnership desperate to be described by a geology pun, BeachesMLS has hired software company Solid Earth to provide an enhanced, agent-facing interface to its front-end productivity experience, according to a May 30 statement sent to Inman.

More than 40,000 agents in the Broward, Palm Beach and St. Lucie markets of South Florida will now have access to the augmented, data-driven dashboard.

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An Inman Innovator Award winner, Solid Earth’s software rests on top of the existing BeachesMLS solution with a single sign-on serving as a rapid conduit to common content, separate logins, data tools, documents and even personalized member financial reports, news and trends analysis. It also confirms system integrity by ensuring every login is unique to the user.

BeachesMLS is a proven technology-driven association consistently partnering with technology firms to improve the way its members interact with the data that dictates their business. It linked up with hyperlocal content marketing solution Local Logic last year and, upon the onset of the COVID-19 pandemic, was one of the nation’s first organizations to organize a “virtual open house week” to encourage market activity.

About its latest software selection, Dionna Hall, CEO at BeachesMLS, said that what helps Solid Earth rise above other vendors is its focus on the needs of individual members as opposed to offering a solution that assumes all members work the same way.

“The ability to have different tiles for different member types and the capacity to dial into specific member specifications ensures a personalized experience tailored to each individual,” said Hall, CEO at BeachesMLS. “We’re excited about our alliance with future innovations that will keep us ahead of the curve. And the single record system, where every user has one ID and login, eliminating multiple logins, vastly improves efficiency and security. Solid Earth is not just a technology provider, they’re a partner in empowering our Realtors to excel.”

The software is scaling quickly, according to the company, taking on more than 170,000 users in less than a year. It expects to onboard another 100,000 “in the coming months,” according to the release.

“Our mission is simple: to create one record for every human with a real estate license in the U.S. — making life easier for real estate professionals and the Associations that support them,” said Rebecca Pearson, vice president of marketing and communications at Solid Earth, in the statement.

In lieu of internal coding expertise or the political wherewithal needed to test members’ tolerance for new fees, MLS executives often turn to software providers to remedy frontend user experience challenges and frustrations.

While many MLS administrative interfaces were suitable for use and reflective of software trends a decade or more ago, the inability to keep pace with the rate of technological change and consumer search trends has become an industry-wide source of contention.

Some associations are quicker than others to tackle members’ ire by identifying software partners like Solid Earth to fill in the ever-widening gaps. Still, consumer-led technology continues to create an immeasurable impact on how real estate functions; thus, without a finger perpetually pressed to the pulse of what’s wanted and asked for by buyers and sellers, MLSs will remain stigmatized, as will those who pay to keep them operating.

Email Craig Rowe

NAR president: DOJ thinks Realtors ‘make too much money’

NAR president: DOJ thinks Realtors ‘make too much money’

by | Jun 2, 2025 | Industry, News Feed

At NAR’s midyear conference, Kevin Sears told brokers he was “cautiously optimistic” about improving the trade group’s relationship with the antitrust enforcer.

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When National Association of Realtors President Kevin Sears invited questions from a room full of brokers at NAR’s midyear conference Monday morning, broker-owner Byron Menke asked a question he’s hearing a lot from other brokers: “[The Department of Justice] seems to be on us like a dog with a bone, and it doesn’t seem to be going away,” Menke said.

“If we have such a good advocacy relationship with our legislators and we do such a good job, why does that not transfer over? And why are we not putting some pressure there?”

Menke is chair of NAR’s Broker Engagement Council, which met Monday at the Realtors Legislative Meetings in Washington, D.C., and invited Sears to their meeting.

“Yeah, it doesn’t translate too much,” Sears said.

According to Sears, NAR had “a rocky relationship” with the DOJ last year, in part because the trade group had been suing the agency for the previous four years over a settlement agreement the DOJ withdrew from. That case ended with an appeals court ruling in the DOJ’s favor and the U.S. Supreme Court declining to take the case.

Sears told attendees he had met with the DOJ twice in Washington, D.C., and “there was a clear lack of understanding of how we do business by some of the people that were there in the room.”

“They think we take advantage of the consumer. We protect the consumer. Without the consumer, we don’t exist. Why are we going to take advantage of them? So we explained to them about that,” Sears said.

In one of those meetings, Sears said he and a handful of members of NAR’s Leadership Team sat down with 36 DOJ attorneys: 24 in person and another dozen on Zoom.

One of those present was Jonathan Kanter, former assistant attorney general for the DOJ’s antitrust division, who informed Sears that the DOJ had investigated NAR 35 times in the last 70 years.

Menke asked what the DOJ’s “issue” was with NAR — was it the association’s Clear Cooperation Policy? The DOJ is currently investigating the CCP, which requires listing brokers to submit listings to Realtor-affiliated multiple listing services within one business day of publicly marketing them.

“They think we make too much money,” Sears said, prompting murmuring among attendees.

“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.”

But, Sears said, “that was last year. I’m cautiously optimistic this year. So if anybody is reporting on this-” He paused, prompting laughter from the audience.

Sears said NAR has reached out and had conversations with some of the staff attorneys at the DOJ and hoped to set up a meeting with Gail Slater, Kanter’s successor.

“Ultimately, what I’m looking for is world peace: Is there something we can do where we can be on the same page? Where we can go to our members and go to our brokers and say, ‘Okay, follow these rules and we should be good’?”

A council member suggested that “the biggest problem in our industry” is how Realtors behave on social media, saying “whatever comes to mind, and it makes our industry look really, really poor.” She said she believed that was why the DOJ was keeping its eyes on real estate.

“That’s a very astute statement,” Sears agreed. “We are our worst enemies.”

He noted that not only is the DOJ paying attention to social media, but also to the podcasts and videos coming from the industry.

“They watch them,” Sears said. “They do. They want to see what we’re saying.”

Sears ended by encouraging brokers to embrace the settlement’s practice changes and take advantage of opportunities to explain to consumers the value, expertise and knowledge that Realtors bring to real estate transactions.

“A year from now, I want to make sure that our Realtor members are still smack dab in the middle of the transaction,” Sears said.

Email Andrea V. Brambila.

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Hamptons summer rentals way down amid market uncertainty

by | Jun 2, 2025 | Industry, News Feed

Rental demand for ultra-luxury properties in the beach market is down as much as 75 percent this year, according to local brokers, due to economic volatility and poor spring weather.

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Demand for summer rentals in the Hamptons is down significantly this year as seasonal renters confront the reality of an uncertain economy.

Overall, rental demand is down about 30 percent from the same period in previous years, Judi Desiderio of William Raveis Real Estate told CNBC. Demand is down even further for ultra-luxury properties, according to Hamptons brokers, who say business is down between 50 percent to 75 percent from what is typical for this time of year.

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“People are holding onto their money,” Enzo Morabito of the Enzo Morabito Team at Douglas Elliman told the news outlet. “They don’t like uncertainty.”

It’s possible that some would-be summer vacationers have also been deterred by gloomy, cold weather in May and are holding out as long as possible to see if forecasts turn around in July or August, brokers said, or are hoping that discounts may pop up later in the season.

But sustained economic uncertainty, largely set off by quickly changing tariff policies and ensuing stock market volatility, is likely one of the biggest factors causing luxury renters and even some buyers to hesitate putting their money into real estate right now, brokers said. The hesitation is a far cry from the relative enthusiasm shown by renters after the 2024 presidential election, as markets responded favorably to the outcome. But since April and the announced tariffs, that early interest has failed to materialize in the form of booked rentals.

Multiple waterfront and other luxury properties that Morabito typically represents as summer rentals remain available for the summer, even though they’re usually booked by March or April, the broker said.

More vacant rentals at this point in the season may turn into deals for renters, however. Already, some luxury rentals have seen price cuts of 10 percent to 20 percent, according to local agents. Some homeowners are also allowing for shorter rental periods than they might have otherwise, including one- or two-week stays.

“I believe this year there was so much ‘dark noise’ out there financially, and geopolitically, and the weather was not conducive to thinking of summertime,” Desiderio told CNBC. “There’s no doubt that by the time July 1 is upon us, all of the rentals will be taken this year.”

Hamptons home sales were also down year over year in the first quarter, though not as dramatically compared to the vacation rental market. Sales were down about 12 percent year over year in Q1 2025, while the median sale price rose 13 percent to $2 million.

The Hamptons market tends to follow Manhattan trends, brokers said, which means a recent two-month boost in luxury sales in the city may be good news for the luxury beach market.

“I just had two Canadians put a bid on an $18 million house, sight unseen,” Morabito confirmed to CNBC. “When Manhattan comes alive, we always follow.”

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Email Lillian Dickerson

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Stephen Kotler and son Max Kotler depart Douglas Elliman

by | Jun 2, 2025 | Industry, News Feed

Stephen Kotler is leaving Douglas Elliman following a three-decade career at the brokerage. Meanwhile, his son Max has joined Corcoran Group with intentions of building a new team.

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Former head of Douglas Elliman’s Western Region operations Stephen Kotler has left the luxury firm after more than three decades.

Kotler’s son, Max Kotler, has also left Douglas Elliman and joined the Corcoran Group, The Real Deal reported. Max announced his move on Instagram on Thursday, calling it “the next chapter” for The Kotler Team. Stephen Kotler also reposted Max’s post with the hashtag #proudparentmoment. Stephen is not joining Corcoran.

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“What hasn’t changed is our dedication to our clients,” Max’s post said. “You can continue to rely on us for the same integrity and commitment — now backed by a company that aligns with our values.”

A representative for Douglas Elliman said the firm wished Max well in his next career step. The brokerage declined to comment on Stephen’s departure. Inman was unable to immediately reach Stephen for comment.

Douglas Elliman announced Stephen Kotler was stepping down from the Western Region CEO role in February after several months of dealing with lawsuits from former disgruntled employees. At that time, Kotler joined the Kotler Team in New York City, which included both Max and Stephen’s brother, Michael Kotler.

Michael Kotler continues to run what is now known as the Michael Kotler Team at Douglas Elliman. The seven-person team specializes in residential sales, rentals and relocation services across New York City.

“We’re happy to welcome Max Kotler to Corcoran’s Park Avenue South office,” a Corcoran representative told Inman in an emailed statement. “Max joins us as an individual agent with plans to build a dedicated team that will allow him to provide even greater support to his clients. We’re confident that Corcoran’s resources, tools and collaborative environment will empower Max to take his business to the next level.”

Stephen Kotler joined Douglas Elliman in New York City as an agent in 1991 when the firm had less than 300 agents. Today, it has around 6,600 agents. He moved up through various management roles until the firm expanded into California in 2014, at which point he started spending more time in the state and was ultimately promoted to lead the company’s Western region, which grew into Colorado, Nevada and Texas.

Kotler’s stepping down from the Western Region CEO role came after a series of leadership shakeups at the firm that started in October 2024. At that time, former chairman and CEO Howard Lorber announced his retirement, former brokerage CEO Scott Durkin was terminated, and then in December, Executive Vice President and COO Richard Lampen said he was retiring but would remain on the company’s board.

At the time of Lorber’s retirement, the firm had undergone an internal investigation into the company’s culture following mounting lawsuits alleging sexual assault against former top brokers Tal and Oren Alexander. When Lorber stepped down, Michael S. Liebowitz was announced as the new president and CEO.

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Email Lillian Dickerson

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Opendoor hit with Nasdaq notice, skids closer to delisting zone

by | Jun 2, 2025 | Industry, News Feed

Opendoor’s stock has spent months in precarious territory and now, the warning siren is blaring. The company has received a notice from Nasdaq after its share price fell below $1 for 30 consecutive business days, triggering compliance concerns, according to a recent SEC filing.

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Opendoor’s stock has spent months in precarious territory and now, the warning siren is blaring.

The company has received a notice from Nasdaq after its share price fell below $1 for 30 consecutive business days, triggering compliance concerns, according to a recent SEC filing.

Shares in Opendoor, which haven’t closed above $1 since April 11, touched an all-time low of 59 cents Monday.

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Falling under the $1 mark for an extended period is risky, as companies that don’t recover are subject to delisting.

A spokesperson from Opendoor told Inman that the notice was expected and emphasized that it has no immediate effect on operations.

“We want to be clear — this notice was anticipated, and has no immediate effect on our business operations. Our stock will continue to trade publicly on Nasdaq,” the spokesperson shared via email.

The company has 180 days — until late November 2025 — to regain compliance. If needed, Opendoor may qualify for an additional 180-day extension.

“We have various options available to us to regain compliance, including effecting a reverse stock split,” Opendoor’s spokesperson added. “We are evaluating each of our alternatives, while remaining focused on our mission to transform the U.S. residential real estate industry.”

If the company fails to meet Nasdaq’s listing standards in time, delisting will follow.

The stock market has been under pressure since the news of President Trump’s sweeping tariffs sent shares across a variety of sectors tumbling. Opendoor wasn’t spared.

The company posted an $85 million loss in Q1 2025, following a $113 million loss in Q4 of 2024. Its stock has steadily declined since.

Opendoor isn’t alone in these losses. In April, Offerpad was put on notice by the New York Stock Exchange (NYSE) due to market capitalization that dropped below $50 million, while Fathom Holdings was contacted by Nasdaq as its stock value fell below the $1 threshold.

Tom White, a senior research analyst for D.A. Davidson, suggests that Fathom’s age plays a role in these struggles, aside from broader economic conditions.

Despite the turbulence, Opendoor CEO Carrie Wheeler remains optimistic that the company is positioned “for long-term success,” she told investors in May.

Email Richelle Hammiel

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This June, Inman is celebrating Today’s Buyer Agent

by | Jun 2, 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.

So much has changed over the past year and a half when it comes to doing business and serving clients. From the Halloween 2023 decision in Sitzer | Burnett to the March 2024 National Association of Realtors commission lawsuit settlement and its August implementation, your conversations and processes probably look different today.

That’s why we’re excited to bring you a new theme month geared toward the needs of Today’s Buyers Agent. Whether you’re the buyer specialist on a team or a solo agent specializing in working with buyers, you’ll find a lot to love in this helpful theme month, including:

  • Protips from top-producing Inman contributors
  • Pulse polls where you can weigh in on buyer-related questions
  • The latest strategies on working with buyers
  • Up-to-the-minute insights on regulatory changes
  • And so much more.

Interested in sharing your perspective? Become an Inman contributor, and contribute your insights to the Inman community. Join us as we celebrate buyer agents and their impact on the industry.

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