Weekly Real Estate News Quiz: Think You're Up On The Biggest Headlines?
News Corp., the parent company of realtor.com owner Move, announced Thursday that it brought in $2.48 billion in revenue during the final three months of 2019 — a figure that falls slightly short of analysts’ expectations.
The company also reported that revenue from its real estate services division fell 5 percent year-over-year to $17 million. In the earnings report, the company tied the decline to “foreign currency fluctuations.”
Revenue at Move specifically fell 1 percent, which the company attributed to “lower revenues from software and services.”
Corcoran announced Wednesday that two major indie brokerages are combining to create the company’s first franchise affiliate.
Zephyr Real Estate, the largest San Francisco independent brokerage — and among the top 100 U.S. brokerages in sales volume — and Oliver Luxury Real Estate in Lake Tahoe and Reno are combining to create Corcoran Global Living.
Keller Williams has big plans for the first quarter of 2020, the biggest of which is likely the release of its consumer-facing search and transaction app.
Designed for buyers and sellers within the Keller Williams ecosystem (and hopefully those not yet in it), KW’s app was demonstrated in a personal sneak peak at Inman Connect New York.
While the app remains in development and was resting on its development platform, it performed admirably in the limited-speed environment, and it shows potential to be a hit with agents of the technology-driven real estate franchise.
Elm Street Technology, the company behind Elevate, announced an undisclosed strategic investment by Aquiline Capital Partners, a private equity firm with offices in New York City and London.
Elm Street Technology, which has been recognized in its home city of Greensboro, North Carolina as a 2020 Top Tech Startup, is expected to use the funds for acquisition and general growth.
Compass has hired Sara Patterson, a veteran of startups and established companies like Bonobos, Conde Nast and Gilt Groupe, as its chief people officer, the company announced Thursday. In her new role, Patterson will oversee human resources, talent management, recruiting and more.
The National Association of Realtors on Monday released its “Look for the R” advertising campaign, which builds on last year’s “That’s Who We R” national branding push.
The campaign is the latest in the trade association’s efforts to distinguish Realtors from agents not affiliated with NAR.
When Bright MLS debuted a ground-breaking pocket listing ban last fall, it was an open question how the multiple listing service’s members would respond. The idea was both new and controversial in the industry, and it was anyone’s guess if Bright MLS members would embrace it or revolt.
But now, days after the rule’s steep $5,000-fines for violations have kicked in, we have at least a preliminary answer: Bright MLS says that so far it has 100 percent compliance among its members, and it hasn’t actually needed to fine anyone.
Landing, a new startup that lets renters easily move between its properties, announced Thursday that it has scored $30 million in new funding.
The new money includes $20 million from a Series A funding round, as well as $10 million in debt. In a statement, Landing said it will use the cash “to continue its rapid expansion to additional U.S. markets and beyond this year.”
A Ring camera captured a burglary at an open house now being investigated by police in Summerlin, Nevada.
An agent was showing the home on South Hualapai Way and West Sunset Road when six suspects entered the home briefly before walking out around 3 p.m., according to the Las Vegas Review Journal. Later, four of the suspects returned, with one distracting the agent as the others ran upstairs into a master bedroom.
The number is 1.