Just two months after entering an agreement, Redfin’s new program that cuts out buyer’s agents has RE/MAX out the door.

It was a quick divorce from a two-month romance. And to be honest, sort of a head-scratcher.

In mid-March, RE/MAX, the 40-year-old, Denver-based national real estate franchise broker announced a unique partnership with Redfin, the tech-focused brokerage that has morphed over the years, from trying to wipe out the Real Estate agent to employing them with discounted commission fees. The partnership gave RE/MAX agents exclusive access to Redfin’s agent referral program — albeit at a discounted rate (25 percent versus 30 percent of the agent’s commission, the standard for referral fees) — in 5,000 U.S. ZIP codes and throughout Canada, where Redfin recently launched its highly navigated home search website.

Ostensibly this was done, RE/MAX leaders claimed, to partner up with an online brokerage.

“Redfin is a good complement to the RE/MAX model, given their online presence and our offline presence,” Kerri Callahan, RE/MAX’s chief financial officer, said to Inman News in March. 

Leaders of both companies were crowing about reciprocal revenue potential, but the honeymoon ended on Monday.

Redfin’s launch of a new program that would essentially cut out buyers agents altogether had one unanticipated result: RE/MAX withdrew from its corporate partnership with Redfin. 

“Redfin has the utmost respect for RE/MAX as a company, for its agents and leaders. RE/MAX agents who already work as Redfin’s partner agents will continue to be our partners, and RE/MAX agents can continue to enroll in our partner program, but Redfin can now enroll partner agents from other brokerages to serve Redfin.com visitors in the U.S. and Canada,” the company said in a statement.

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Matt Templeton of Keller Williams Urban Dallas regularly educates Realtors on how to make the most of the current market. (Courtesy Photo)

By Matthew Templeton
Managing Principal
KW Urban Dallas

It feels like there have been fundamental shifts in the real estate industry within the last few months. Technology is the buzz word, money is being thrown around, and CEOs of just about every top real estate-related company are out. The last few weeks’ news sums up that feeling.

September 2018: Compass closes another funding round for $400 million — money used to build more software and buy more agents.

And then …

February: Rich Barton (billionaire co-founder of Expedia and Zillow) takes the reins from Spencer Rascoff, who was CEO at Zillow for nine years.

February: Keller Williams rolls out the first artificial intelligence and data-driven platform in the real estate industry — others have been clamoring to follow

February: RE/MAX says [sic] “Our amazing technology is coming, and it will be best in class,” and makes a technology acquisition, Booj.

Last Week: Data-driven Opendoor will now show listings from rival brokerages and offer Redfin-like rebates.

Last Week: NTREIS Board holds a vote on whether to sell greater data access to Zillow. April will be a reckoning month for North Texas Realtors and their data.

We’ve moved into a new real estate era that is faster paced and increasingly powered by technology and data — more than ever before. But there’s something else afoot. It’s eerily similar to what happened with the dot-com bust. Real estate technology companies are flush with capital — in fact, 2018 was a banner year for real estate technology investment.

And yet many of the top “technology” or “platform” companies in the industry are not profitable.

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Kessler Woods is one of those neighborhoods that makes your heart beat just a little faster. A gated community of modern homes set into a hillside, right next to a nature preserve is not what you expect to find in Dallas. And we seldom expect to find homes like this one at 715 Kessler Woods Trail for sale, so you are in luck! Our Inwood Home of the Week is a Kessler Woods contemporary that is an architectural dream. (more…)

Oooh, this one is different. Today’s Saturday Eight Hundred is far more ornate than my usual picks, and it just barely makes it into the $800,000 block. But I dig it in its crazy ornate madness. There’s so much for my imagination to run wild with! With Swarovski crystal chandeliers aplenty and gleaming marble floors, 17183 Club Hill Drive definitely brings the bling. And this French Normandy-inspired home backs up to Bent Tree Golf Course, so the views aren’t half bad, either.

With three bedrooms and three and a half bathrooms in nearly 5,500 square feet, this Far North Dallas home is also roomy, to say the least. It’s downright enormous. Speaking of, have you seen your family this week? No worries. Your spouse is hanging out in the wine cellar and the kids are in the pool. You might as well fix yourself a snack in the gourmet kitchen and run a hot bath in the jetted tub. The others can fend for themselves. This week’s pick is listed by Re/Max’s Michael Gaule for $899,500. Join us after the jump for some soaring ceilings and a whole lot of crystal.

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EZ Stow Signs

Conventional real estate signs are a necessary and familiar accessory for real estate agents. But they’re also kind of a pain. They’re big and bulky and don’t easily fit in most car trunks. The stakes can damage a car’s interior upholstery and seating. They’re dirty and muddy, and many agents have to pay someone to install and remove them.

Longtime North Texas Realtor Patricia Manos wanted an easier way to market her properties. She came up with the idea of EZ Stow Signs. They solve many of these common complaints agents have about lawn signs.

“I’ve put up with conventional signs for 37 years and I never found a good solution— my car is a vital asset to support my success, but it seems that every time I wanted to buy a new car, one of the issues I had to consider is the transporting of the signs,” Manos said. “So I, along with the help of my family and some great engineers in Ohio, came up with the solution, and that is when EZ Stow Signs was born.”

This Dallas-based, family-run company is aiming not only to make their products popular in DFW, but also to take their signs national.

“We have created relationships with Keller Williams, Fathom Realty, and ReMax, and I’m sponsoring prep courses at the Champions School of Real Estate,” said Robert Spragins, sales manager for EZ Stow Signs and Manos’ son who has taken his mom’s idea and launched a business. “We’re also attending the National Association of Realtors convention in Orlando in November — we’re renting a booth there to get national exposure, and we’re also attending area trade shows and will be adding more sizes to our product line.”

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first-time homebuyer

According to Zillow, 40 percent of first-time homebuyers are married now, compared to 52 percent two decades ago.

Who needs a spouse to buy a first house? Not too many folks anymore.

According to new research from Zillow, only 40 percent of first-time homebuyers are married today, down from 52 percent in the late ’80s.

Why is this? First, fewer people are getting married in general. Barely half of adults (51 percent) were married in 2011, according to the Census Bureau’s American Community Survey data, compared with 72 percent in 1960. Marriage increasingly is being replaced by cohabitation, single-person households, and other living arrangements (mom and dad’s house!).

They’re also waiting longer to get married—the median age for first marriage is now 27 for women and 29 for men, up from 20 for women and 23 for men back in 1960, according to new Pew Research Center analysis of census data.

This real estate trend is showing up in the Dallas-Fort Worth market. One example: ReMax Realtor Ken Lampton says he has a lot of unmarried professional women buying in the Lakewood and Lower Greenville areas of Dallas.

“They don’t have children, so schools aren’t a concern, and they are willing to buy a smaller house in order to be closer to downtown Dallas,” Lampton said.

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CandysDirt_Profile

He’s lived in the M Streets for 30 years, so of course Ken Lampton has a home on the Internet at MStreets.com. He also shares his unvarnished opinions on his blog, where you can find out more about Lampton’s adventures in this sought-after neighborhood, as well as the challenges it faces when it comes to redevelopment and preservation. He’s a meticulous, detail-oriented Realtor with an engineer’s brain who loves historic homes and has a hat collection that would stir the envy of any Southern girl. It’s kind of his thing!

For all of those reasons (and many more!) RE/MAX DFW Associates Realtor Ken Lampton is our Great Western Home Loans Featured Realtor this week. He’s got personality, determination, and serves his clients with expert knowledge and patience. He reminds us a lot of Jeff Lindigrin of Great Western Home Loans, now that we mention it! What has your lender done for you lately? See what you’re missing by calling Jeff Lindigrin of Great Western Home Loans today.

And now jump to find out more about this treasure of a Realtor, Ken Lampton!

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NRT's new portals, acquisitions, may position the brokerage to out flank competition.

NRT’s new portals, acquisitions, may position the brokerage to out flank competition.

It’s a much different model than Zillow/Trulia, but NRT/Realogy will be on pace to not only capture more leads than Zillow, but it has boots-on-the-ground Realtors who can complete sales. This one-two punch is part of NRT’s strategy to “out flank” Zillow, positioning the brokerage as an online and in-person real estate powerhouse, according to Inman News:

“The nation’s largest real estate brokerage, NRT LLC, is preparing to launch two new search portals that are aimed at reducing the company’s reliance on leads from Zillow, Trulia and realtor.com, attracting homebuyers by offering access to a complete set of MLS listings in markets where NRT operates, plus bells and whistles like automated valuations.

NRT, the brokerage wing of real estate titan Realogy, has over 42,000 agents and operates more than 700 offices in the U.S. under the Coldwell Banker Real Estate, ERA Real Estate, and Sotheby’s International Realty brands. It also owns and operates Citi Habitats, The Corcoran Group and, when the acquisition closes sometime this quarter, ZipRealty.”

 

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