Industry Relations

2024 ORE Year End Recap

Dec 25, 2024

2024 has been labeled 'The Year of the Settlement,' showcasing monumental shifts in real estate. High-interest rates and dwindling inventory continue to challenge market morale. The decline of the NAR is causing a reevaluation of its role, while Compass's acquisition strategies raise eyebrows. Amid controversies, the Clear Cooperation Policy's evolving debate highlights future implications for MLSs. The hosts speculate on the upcoming changes that could lead to Real Estate 4.0, indicating a profound transformation in the industry ahead.

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Quick takeaways

2024 marked a significant transformation in real estate, highlighted by the industry settlement and its implications for structural changes and evolution towards Real Estate 3.0.

The decline of NAR's influence amid scandals and lawsuits has prompted industry reevaluation, igniting discussions about the future roles of associations and MLS dynamics.

Deep dives

The Impact of One Home on Buyer Engagement

In today's challenging real estate market, keeping buyers motivated is crucial. One Home, developed by CoreLogic, significantly enhances client collaboration and engagement through its integrated platform. The innovative solution has achieved high customer satisfaction rates and boasts the highest repeat visits among the top ten national real estate pools. With its invite-only access, agents can provide a unique experience, making it essential for MLS members to adopt this valuable tool.

Intro

2min

Parent-Centric Dating: A New Approach

4min

Real Estate Evolution: From 2024 Onwards

9min

Shifts in the Real Estate Landscape

14min

Debating Socioeconomic Status and Media Representation

2min

Real Estate Dynamics: Opinions vs. Practices

16min

Leadership Dynamics and Regulatory Changes

8min

In this Industry Relations episode, Rob and Greg reflect on the pivotal events of 2024, dubbing it “The Year of the Settlement.” They analyze the seismic shifts in real estate, including the impact of high-interest rates, low inventory, NAR’s declining influence, and the ripple effects of major lawsuits. The duo also previews what these changes could mean for 2025 and beyond, setting the stage for a new era in real estate.

Key Takeaways

• 2024: A Year of Change: Why the settlement and other industry events signal the dawn of Real Estate 3.0.

• NAR’s Decline: The fallout from scandals and lawsuits has shifted perceptions of NAR as an industry powerhouse.

• Housing Market Woes: High-interest rates and inventory challenges persist, affecting transactions and industry morale.

• The CCP Debate: Controversy surrounding Clear Cooperation Policy continues to evolve, with implications for the future of MLSs.

• Compass’s Moves: The acquisition of @properties and its strategy around private exclusives sparks debate.

Washington Post CCP Article

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