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Agents might be emboldened to share listings among private networks of in-the-know brokers rather than market them to everyone. And if the goal is a transparent market that prioritizes consumers, the clear-cooperation policy is a flawed tool. Redfin estimated that in the second quarter of 2019, about 1.7% of listings, or some 18,000 homes, were likely pocketed. In a hot market, it's easier for brokers to market a home off the databases and still get it sold. What has changed since the rule went into effect is brokerages' eagerness to control access to home listings.
Persons: Smart, , they'll, Brian Boero, Goliath, Davids, MLSes, doesn't, weren't, Joe Schmo, Saul Klein, Howard Hanna's, Howard Hanna IV, Robert Reffkin, Mauricio Umansky, Redfin, Glenn Kelman, Kelman, haven't, Victor Lund, There's, Buckle Organizations: MLS, National Association of Realtors, NAR, Coldwell, Network, San Diego, Compass, Service, of Justice
Compass CEO Robert Reffkin talks the housing market
  + stars: | 2024-10-24 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO Robert Reffkin talks the housing marketRobert Reffkin, Compass CEO & co-founder, joins 'Closing Bell Overtime' to talk integrating AI into its business, latest housing data, and more.
Persons: Robert Reffkin Organizations: Compass
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHomebuyers are much more active than they were before, says Compass CEO Robert ReffkinRobert Reffkin, Compass founder and CEO, joins 'Squawk Box' to discuss the state of the real estate market, impact of the Fed's interest rate decision and lower mortgage rates, housing demand outlook, and more.
Persons: Robert Reffkin Robert Reffkin Organizations: Compass
Compass CEO Robert Reffkin: It's still a seller's market
  + stars: | 2024-08-23 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO Robert Reffkin: It's still a seller's marketRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss the housing markets as mortgage rates fall and new home sales rise.
Persons: Robert Reffkin, It's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO: Supply and demand indicators suggest a modest shift towards a homebuyer's marketRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss whether there's a magic mortgage rate threshold for homebuyers, home supply questions, and much more.
Persons: Robert Reffkin Organizations: Supply
Read previewThe housing market may be starting to turn a corner, offering frustrated buyers a chance to jump back into the market after a long stretch of dismal prospects. "We think the housing market is going to improve over the next half of a year," Glenn Kelman, the CEO of Redfin, in a recent interview. Inventory is risingMore inventory is finally trickling into the housing market, which could help push prices down. Elevated mortgage rates are a key problem in today's housing market, as they deter both buyers and sellers from making deals. Rates dropping to 5%-6% would make the housing market "explode," but even a 6.5% 30-year mortgage rate would be enough to make the housing market "very strong," Reffkin said.
Persons: , Glenn Kelman, That's, Robert Reffkin, Reffkin, Freddie Mac, Redfin's Kelman, Kelman, Compass's Reffkin Organizations: Service, Business, National Association of Realtors, CNBC Locations: Reffkin, Texas, Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO Robert Reffkin on housing market: We are now seeing 'more sellers than buyers'Robert Reffkin, Compass co-founder and CEO, joins CNBC's 'Squawk on the Street' to discuss the latest on the existing home sales report, the health of the housing market, implementation of AI, and more.
Persons: Robert Reffkin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing affordability will stay an issue as owners remain locked on low rates, says Compass CEORobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss housing affordability in the United States, why the company is focused on all-cash deals, and more.
Persons: Robert Reffkin Locations: United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSpring season will see a significant increase in real estate inventory: Compass CEO Robert ReffkinRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss if real estate activity is what Reffkin wants to see heading into spring, Reffkin's thoughts on the 30-year fixed mortgage rate, and if concessions to buyers will dissuade homeowners to sell.
Persons: Robert Reffkin Robert Reffkin, Reffkin
The housing market is flashing signs of life, Compass CEO Robert Reffkin said. AdvertisementThe housing market is flashing a handful of bullish signals for the year ahead, according to Compass CEO Robert Reffkin. The founder of one of the nation's top real estate brokerages said he believed the housing market will be on the path to recovery in 2024. But more owners appear to be moving out of necessity or have warmed up to the idea of selling as mortgage rates head lower. At this rate, buyers are outpacing sellers in the market, Reffkin said, noting that Compass's real estate agents are seeing more business in the new year.
Persons: Robert Reffkin, Reffkin, , brokerages, Freddie Mac, Sam Lafoca, LM Otero, Sellers, Phil Noble, I've, Barbara Corcoran Organizations: Service, National Association of Realtors, CNBC, Community, Getty, Associated, REUTERS, Mortgage, Association, New Locations: lancaster California, USA, Dallas, Kirkham, England
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO: All key signs in housing are pointing in the right directionRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss the state of the housing sector at the start of the year, what's changing the calculus of the housing sector, and more.
Persons: Robert Reffkin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO: Not enough real estate inventory in the overall marketRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss the company's quest for profitability, the environment for real estate companies, and more.
Persons: Robert Reffkin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO: There are more buyers than sellers, and inventory levels have hit their lowRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss why the housing sector may be taking a turn for the worse, what the inventory bottom reflects, and if people are beginning to accept higher mortgage rates.
Persons: Robert Reffkin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNext year's real estate market could look a lot like this year, says Compass CEO Robert ReffkinRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss the company's quarterly earnings results, where the company's cost cuts will come from, and much more.
Persons: Robert Reffkin Robert Reffkin
The median sale price clocked in at $426,056 in June, just 1.5% below the all-time-high. That's as the inventory of available homes for sale dropped to a record low last month. It marks the slowest decline in home prices the housing market has seen in five months. Buyers, meanwhile, have grown used to elevated mortgage rates, which has exacerbated the inventory shortage. With home prices back near record highs, buyers are also less worried that they'll buy a house that'll plunge in value."
Persons: That's, Daryl Fairweather, they'll, Robert Reffkin, Freddie Mac Organizations: Service, Mortgage, Association, Homeowners Locations: Wall, Silicon
Prices began dropping last summer, after the average interest rate on the 30-year fixed-rate mortgage more than doubled in just six months. Buyers may have simply gotten used to higher rates. The sharp jump in mortgage interest rates last year threw cold water on an overheated housing market, but it didn't last long. Even with rates still high, home prices are now gaining again, and the gains are accelerating with each new month. "Earlier this year I shared that I believed 6% mortgage rates were accepted as the new normal.
Persons: Walden, Andy Walden, Black Knight, Robert Reffkin, Estate, Knight Organizations: Black, Compass, National Association of Realtors, Redfin Locations: Midwest, Northeast, San Jose , California, San Diego , Los Angeles, San Francisco, Seattle, Austin , Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing data shows that 7% mortgage rates are the 'new normal,' says Compass' Robert ReffkinRobert Reffkin, Compass CEO, joins 'Squawk on the Street' to discuss the the current state of the housing market, the impact of Fed rates on mortgage activity, and increasing rate of all cash buyers.
Persons: Robert Reffkin Robert Reffkin Organizations: Compass
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhen mortgage rates hit 5% expect a flood of housing inventory, says Compass CEO Robert ReffkinRobert Reffkin, Compass CEO, joins 'Closing Bell Overtime' to discuss the latest housing data, the state of the Real Estate space, and more.
Persons: Robert Reffkin Robert Reffkin Organizations: Compass
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing market will be 'sideways' until mortgage rates get to low 6%, says Compass CEORobert Reffkin, Compass CEO and co-founder, joins 'Squawk on the Street' to discuss if the economy is on the upswing in the housing market, whether the market should be worse, and what happens with NAHB's Prospective Buyers Traffic data if there's relief in rates.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO: Homebuyers have accepted 6% mortgage rates as the new normalRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss the data behind Compass' quarterly earnings results, if there's been movement in home prices, and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe will look back at Q4 as the bottom for stocks, says Compass CEO Robert ReffkinRobert Reffkin, Compass founder and CEO, joins 'Closing Bell: Overtime' to discuss his call that Q4 will be looked at as the bottom for stocks.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe will look back at Q4 as the bottom for the housing market, says Compass CEO Robert ReffkinRobert Reffkin, Compass founder and CEO, joins 'Closing Bell: Overtime' to discuss his call that Q4 will be looked at as the bottom for the housing market.
We are hiring 'moderately,' says Compass CEO
  + stars: | 2023-01-23 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are hiring 'moderately,' says Compass CEOCompass CEO Robert Reffkin joins 'Closing Bell' to discuss sharp declines in real estate transactions, sustainable cost-cutting methods, and more.
Compass CEO: We can be free cash flow positive this year
  + stars: | 2023-01-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO: We can be free cash flow positive this yearRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss their latest round of layoffs and goals for this year.
I'm Diamond Naga Siu, and today, we're looking at where tech workers are getting hired. Startups and Big Tech have major cultural differences, according to some startup founders. My colleague Rebecca Knight and I found that tech jobs remain abundant — they just aren't necessarily in the tech industry. Elon Musk ≠ Steve Jobs. Many industry experts are quick to compare Tesla to Apple and Musk to Jobs.
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