What the rest of this year will look like under Trump 2.0 with regard to real estate is anyone’s guess. Cara Ameer breaks down the possibilities, problems and opportunities.
Mortgage market conditions have improved slightly as the calendar is set to flip to May, but anyone expecting sub-6% rates at the start of the year will be disappointed.
Data at HousingWire’s Mortgage Rates Center on Tuesday showed that 30-year and 15-year conforming rates were averaging 6.95% and 6.82%, respectively. These figures were down slightly compared to one week ago and represent a partial pullback from the huge spikes seen earlier in April.
Charles Goodwin, vice president of sales at San Francisco-based private lender Kiavi, told HousingWire that he does not expect the Federal Reserve to provide underlying relief for mortgage rates when it meets next week.
Interest rate traders strongly agree with that sentiment as 93% believe that the federal funds rate will remain at a range of 4.25% to 4.5%, according to the CME Group’s FedWatch tool.
“The bond market is balancing inflation and economic volatility at the same time, and as tariff uncertainty continues to ripple through the international community, [the Fed] may wait and see how everything shakes out before moving rates in either direction,” Goodwin said.
Trump vs. Powell
President Donald Trump has been on the warpath again recently in urging the central bank to cut interest rates. He stepped up attacks on social media against Fed Chair Jerome Powell, calling him a “major loser” and saying that “Powell’s termination cannot come fast enough.”
Trump appointed Powell to lead the Fed during his first term in the White House, but the pair have frequently clashed – usually due to interest rate policies — over the years. Powell’s term as Fed chair does not end until May 2026, and speculation that Powell could be preemptively fired is likely contributing to recent rate increases as investors worry that the Fed could lose its independent status.
A pending Supreme Court case, Trump v. Wilcox, could have major implications on Powell’s future. If the justices rule in favor of the president in his decision to fire two independent federal regulators, it would reshape longstanding legal precedent and potentially give Trump the green light to remove Powell.
Kevin Warsh, a former Fed governor and a candidate to lead the central bank during Trump’s first term, has been rumored to be Powell’s successor. But even if Powell were to be replaced before his term ends, the president would still have to contend with the other members of the Federal Open Market Committee who have been steadfast on interest rate policies since the COVID-19 pandemic. For his part, Trump has recently backed down by saying he has “no intention of firing him.”
Where are home sales headed?
The spring home purchase season is in full swing and while sales haven’t been robust, they have generally exceeded last year’s low levels.
This week’s Altos data report shows that weekly pending home sales dipped on a year-over-year basis for the first time in six weeks, but that was an expected decrease due to the Easter holiday weekend. Altos President Mike Simonsen said he anticipates the weekly pending sales figure to rise again next week to 78,000, which would put it back above last year’s pace.
“The takeaway for the weekly pending home sales is that the holiday dip is temporary, and we currently expect home sales in May to resume being higher than last year. Last year’s sales were very low. If we come in below that, it’d be a very bearish market indicator.”
Despite consistently low sentiment from prospective home buyers and sellers, Goodwin said that now is a good time to enter the market. This dovetails with new data from the Mortgage Bankers Association showing that the median monthly mortgage payment from an applicant in March was down 1.2% from a year earlier. That’s partially tied to mortgage rates, which were roughly 50 basis points higher at this time in 2024.
“If buyers wait for lower rates, it could backfire if mortgage rates or home prices rise,” Goodwin said. “Additionally, waiting to buy when rates go down could mean increased competition for available housing stock, leading to bidding wars and increased costs for buyers.”
Goodwin offered four tips for mortgage originators and their clients to keep in mind in the current market environment.
- Get preapproved early. Locking in a budget and a rate range allows buyers to be able to act quickly when the right opportunity comes up.
- Consider rate-lock options. Many lenders offer rate-lock programs with float-down features if rates fall before closing, which could help in navigating this type of uncertain rate environment.
- Factor in long-term affordability. While rates are important, when it comes to purchasing a home, buyers need to consider the big picture. The decision to buy property should include an analysis of monthly payments, local taxes and personal income stability.
- Look into adjustable-rate mortgages or interest-only loans. For buyers who may be looking to sell or even refinance in a few years, adjustable-rate mortgages can be an option that often lowers the initial payment amount.
When Chris Czarnecki stepped into the Family Reunion event earlier this year, he knew Keller Williams’ culture was strong. Experiencing it firsthand confirmed what he had hoped for — a deep agent-first mindset that he believes will power the company’s next phase of growth.
In his first in-person interview since being named CEO, Czarnecki spoke with HousingWire about guiding Keller Williams through a new chapter, one marked by Stone Point Capital’s investment and a shifting residential real estate landscape.
Less than two months into the role, he’s clear on his focus: organizational stability, deeper investments in agent education and technology, and measured expansion. In other words, KW is getting back to its roots as a training company that prioritizes education.
“My priority has been building out a strong leadership team,” Czarnacki said. “From there, it’s about doubling down on what makes Keller Williams unique — its culture of education, coaching and support for the small-business owner.”
Growth mindset with Stone Point support
Keller Williams’ partnership with Stone Point has fueled industry speculation about a potential public offering, but Czarnecki emphasized that no immediate plans are on the table.
“There’s a lot of business building to do before anything like that is even considered,” he said.
Instead, Stone Point’s involvement will provide strategic support behind the scenes. Known for its investments in real estate platforms like CoreLogic (now rebranded as Cotality) and Lone Wolf Technologies, Stone Point offers Keller Williams access to ideas, partnerships and potential acquisitions but not operational interference.
“They’re not operators,” Czarnacki said. “Their role is to help us uncover opportunities and connections that can accelerate our agents’ success.”
Strengthening education and tech
A large part of that acceleration will come from sharpening Keller Williams’ existing strengths. Czarnacki is prioritizing investments in KW University, the company’s educational platform, and MAPS Coaching, as well as improvements to the Command technology platform.
“Command already has a strong foundation,” he said. “Our focus now is making it even more agent-centric, listening to agents directly through our lab’s process and bringing third-party tools into the ecosystem where it makes sense.”
Early conversations with Stone Point’s other portfolio companies have opened doors to potential integrations, but Czarnecki stressed that all decisions will be agent-driven.
Unique leadership style
Czarnecki brings a leadership approach shaped by his background, having grown a commercial real estate platform from $80 million to more than $6 billion in assets. His style is deliberate: empower the broader team while ensuring each executive has a clear development and succession plan in place.
“If I’m doing my job right, I’m invisible,” he said. “It’s about making sure the ship is running smoothly, not being the loudest voice in the room.”
That philosophy extends to engaging with Keller Williams’ Operating Partner Council and staying closely connected to the franchise owners and agents who drive the business daily.
Staying local amid compliance changes
While many brokerage leaders have weighed in on compliance debates after the National Association of Realtors‘ settlement and controversy surrounding its Clear Cooperation Policy, Czarnecki has been careful to keep Keller Williams neutral at the corporate level.
“These are local decisions,” he said. “We support our brokers and agents in advocating for their best interests within their MLSs and markets, but it’s not our role to dictate a national stance.”
That approach aligns with the company’s decentralized structure, which comprises 775 market centers, a reinforcement of its agent-first model.
What’s next?
Looking ahead, Czarnecki is focused on expanding Keller Williams’ marketing presence, deepening educational opportunities, and positioning the brand and agents for success in any market environment.
“Regardless of the market cycle, education, coaching and operational consistency are what will help our agents win,” he said. “Our job is to stay rooted in those fundamentals while building for the future.”
As Keller Williams continues to evolve, Czarnacki’s early leadership suggests a clear strategy: strengthen the core, leverage strategic partnerships and let agent entrepreneurs drive the next phase of growth.
20 Rosslyn St, Bellevue Hill has just sold for $13m, having previously sold at $7.4m in February 2023 at auction.
An old Bellevue Hill home has just sold for $13m, nearly double the price it sold for two years ago — because of two key factors.
The five-bedroom house on a 536sqm block at 20 Rosslyn Ave fetched $7.4m in February, 2023 at a competitive auction.
And now, a buyer with a mainland Chinese background has shelled out $13m off-market via TRG founder Gavin Rubinstein in conjunction with colleague Evan Cheung.
Rubinstein says the big price was down to two factors.
The buyers were firstly impressed by the vendor’s recently approved DA for a three-level home with lift gliding between the basement, entertainment level and four bedrooms upstairs.
But the second factor was Cheung was able to overcome the language barrier — he’s fluent in both Mandarin and Cantonese.
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While charming, it wasn’t the interiors that won over the buyers.
Cheung was able to explain to the buyers the benefit of the approved plans taking in the incredible view, plus the proximity to good private schools.
“He was able to explain to the buyers the benefits of the proximity to private schools in the east and the planned new home, which will offer direct views of the Harbour Bridge,” Rubinstein said.
It was a similar story with a five-bedroom house at 167 O’Sullivan Rd, Bellevue Hill on a 560 sqm block, that the pair have recently sold for $8.5m to an overseas family relocating to Australia and purchasing their first home.
Multiple agents had previously attempted to sell the property, but after Rubinstein and Cheung took it over they sold it off-market in April after just one inspection.
167 O’Sullivan Rd, Bellevue Hill sold to an overseas family relocating to Australia and purchasing their first home. They paid $8.5m after just one inspection.
“The relationship had been nurtured well in advance,” Rubinstein said.
“It helps a lot having Evan fluent in Mandarin and Cantonese — which is something we genuinely excel at — in this case both buyers came from an overseas background.”
He added that The Rubinstein Group team excels at connecting with buyers with overseas backgrounds, mainly due to social and digital marketing and an exclusive referral network that both Gavin and Evan work with.
The big results follow the TRG duo achieving the record price for a semi in Bellevue Rd, Bellevue Hill on April 15.
“We’ve sold the most properties in Bellevue Hill over the past 12 months,” Rubinstein added.
The post Why old Bellevue Hill house doubled in value in two years appeared first on realestate.com.au.
A recently introduced bill in Texas seeks to eliminate the National Association of Realtors’ (NAR) speech code within the state and to bar any other trade associations from taking similar action.
Texas S.B. 2713, introduced by Mayes Middleton (R), explicitly bans any trade association from “denying access, membership, or participation based on various factors, including race, color, religion, sex, disability, familial status, national origin, or an individual’s exercise of freedom of speech or assembly.
This prohibition stands regardless of any conflicting provisions in an association’s or organization’s bylaws. If passed, the bill would take effect on Sept. 1.
A person believing they’ve been subject to a violation of the new law could bring legal action against the professional or trade association for injunctive relief or damages, the bill states.
Pushback to NAR rule
Rob Hahn, the founder and CEO of Las Vegas-based online property exchange Decentre Labs, shared his thoughts on the legislation in a blog post.
“Most of you know that I have been railing against the unjust and utterly idiotic NAR Speech Code ever since it was proposed,” Hahn wrote. “I have interviewed three Realtors who were persecuted for their beliefs and for their speech under Standard of Practice 10-5; Brandon Huber, Wilson Fauber, and Chad DeVries. I have called on NAR to repeal the speech code for self-preservation purposes, if not moral reasons.
“I knew that those individuals and others have been fighting for their freedom of speech, for their religious beliefs, and for their right of conscience. And at last, there is a glimmer of hope.”
In December, the Virginia Association of Realtors ruled that Fauber violated NAR’s speech code through multiple social media posts.
Huber, a Montana Realtor and pastor, accused NAR of engaging in “anti-Christian bigotry” after he was fined and suspended from the Missoula Organization of Realtors for reportedly expressing his views on homosexuality and the LGBTQ+ community.
DeVries filed a lawsuit against the Arizona Association of Realtors (AAR) in July 2024, alleging that AAR did not have authority over his personal conduct, which allegedly included social media posts deemed to be discriminatory.
Justin Ziegler, national president and board chair of the LGBTQ+ Real Estate Alliance, cited the LBGTQ+ community’s lack of protection under the Fair Housing Act as reason to keep the Speech Code in place.
“In real estate, NAR’s Code of Ethics sets the bar for what’s acceptable professional behavior that consumers can rely on, no matter what walk of life they come from,” he told HousingWire. “Realtors must not ever sanction discrimination. You can’t promote Fair Housing practices on one hand and then ignore the behavior of a practitioner using biased slurs all over social media.
“It remains legal to discriminate against LGBTQ people in 29 states. Professional standards are a recourse for consumers and other practitioners who encounter discrimination in transactions.”
Ziegler also cited a 2024 Zillow survey showing 79% of LGBTQ+ people experiencing housing discrimination based on their identity
Digging into the speech code
On Jan. 1, NAR posted an updated summary of its speech code provisions, which included revisions made after its initial passage in 2020 passage.
“Standard of Practice 10-5 is not focused on types of speech that might be subjectively deemed ‘offensive’ or ‘discriminatory’ by one person and not another,” NAR stated. “The Standard of Practice is based on very particular types of speech that are directly connected to the protected classes of race, color, religion, sex, disability, familial status, national origin, sexual orientation or gender identity under Article 10.
“Only the use of harassing speech, hate speech, epithets and slurs based on the protected classes of Article 10 are prohibited. The terms ‘harassing speech,’ ‘hate speech,’ ‘epithets,’ and ‘slurs’ can be commonly understood by use of a dictionary as well as other easily available references. For example, NAR’s Code of Conduct and Anti-Harassment Policy clearly defines ‘harassment’ and ‘sexual harassment.’”
NAR said its definition of harassment includes inappropriate conduct, comment, display, action, or gesture based on another person’s sex, color, race, religion, national origin, age, disability, sexual orientation, gender identity, and any other protected characteristic.
In addition to epithets, slurs or negative stereotyping, NAR cited threatening, intimidating or hostile acts, denigrating jokes, and the display or circulation of written or graphic material that denigrates or shows hostility toward an individual or group based on a protected characteristic as examples of harassment.
Lead-up to the rule
A three-year investigation by Newsday, which was made public in 2019, played a role in rallying support for NAR’s speech code.
Findings showed widespread discriminatory behavior among real estate agents in Long Island, New York — with evidence suggesting that brokers subjected minority testers to unequal treatment compared to white testers.
Black testers experienced discrimination 49% of the time compared with 39% for Hispanics and 19% for Asians.
In 8% of Newsday’s tests, agents reportedly accommodated white testers while imposing more stringent conditions on minorities, which amounted to a denial of equal service.
“This is something that didn’t happen in the deep South,” Greg Squires, professor of public policy at George Washington University in Washington, D.C., said in the report.
Additionally, a RE/MAX agent in Denver was fired in August 2020 for removing “Black Lives Matter” signs from yards. And a San Antonio Realtor was fired from Keller Williams the following month for threatening to “hunt” Black Lives Matter protesters on a Facebook post.
Kicking off the first 2025 event held by the National Reverse Mortgage Lenders Association (NRMLA) Tuesday morning in Irvine, Calif., the association’s co-chairs offered an update on the industry’s advocacy efforts.
Mike Kent and Jim Cory – SVP of corporate development and industry relations at Liberty Reverse Mortgage and managing director of reverse at Guild Mortgage, respectively – welcomed industry members to the association’s first event but wasted little time in assessing the current advocacy landscape for the reverse mortgage business.
NRMLA President Steve Irwin opened the proceedings by describing a tough environment for the industry, due in no small part to interest rates and wider economic uncertainty that impacts the ability and confidence from potential borrowers to move forward.
Kent concurred, but added that the importance of the advocacy work is necessary to keep the industry moving forward and functional, while also communicating to those in power what the reverse mortgage industry can do for U.S. seniors, and how the Home Equity Conversion Mortgage (HECM) program can be a tool for older Americans confronted by high costs on a fixed income.
The association, Kent explained, made a transition late last year when it separated from its longtime management company to become an independent organization. Over the past few months, Irwin and the team at NRMLA have met with lawmakers on Capitol Hill to communicate the reverse mortgage industry’s positions on certain issues and the work it has done on behalf of clients.
These meetings include with Rep. French Hill (R-Ark.), the chairman of the House Financial Services Committee, and Rep. Zach Nunn (R-Iowa), who also serves on that committee. NRMLA also met with Rep. Josh Gottheimer (D-N.J.) and Rep. Mike Flood (R-Neb.), with Gottheimer having recently collaborated on anti-fraud legislation for older Americans and Flood participating with lawmakers across the aisle on housing issues.
NRMLA also met with Sen. Mike Crapo (R-Idaho), who is seen as a lawmaker who understand the dynamics of the HECM program, as well as Banking Committee member Sen. Jack Reed (D-R.I.). NRMLA has also been in conversation with officials at the U.S. Department of the Treasury, and potential HECM program changes.
The legislative work is secondary to the work involving collaboration with the U.S. Department of Housing and Urban Development (HUD), and NRMLA has been in contact with the department’s deputy assistant secretary for single-family housing, Matt Jones, who is fulfilling the function of Federal Housing Administration (FHA) Commissioner prior to a nominee from the president being named.
Kent described Jones as a “strong supporter of the HECM program,” and it was discussed how work that helped the program under the prior administration might be continued, particularly on the front of liquidity.
NRMLA is also in the process of meeting with leadership at Ginnie Mae, including acting president Gregory Keith and Joe Gormley, who was recently named the government-owned company’s EVP and COO.
“Joe is another supporter of the program, and we think we have some work that we can do with Ginnie Mae to further improve liquidity in the Ginnie Mae space,” Kent said.
But the work being done is not just about subsistence and stability, but also about facilitating the future, Kent said.
“There’s more to it than just making sure that the program and the MMI Fund is sustainable for the long term, or to ensure that the program continues on,” Kent said. “There’s more to it than just trying to find ways to improve the program, to bring more people under the tent to participate in the program. We also look at what’s next.”
The Gables. No.334 Davey St, South Hobart. Picture: Supplied
Davey St is home to some of Hobart’s finest homes — large, luxurious, historic — and The Gables is a prime example of this type of prestigious property.
This 1905-built house stands as a testament to Hobart’s rich architectural heritage.
Aptly described as a landmark residence, The Gables combines classic charm with modern luxury, offering an unparalleled living experience in one of the city’s most sought-after locations.
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The Gables.
The Gables.
EIS Property senior consultant Deb Stephens said The Gables offers “an idyllic lifestyle”.
“It is well-suited to people who value spending time with family and friends,” she said.
“Entertaining will be a breeze, while swimming or playing a round of tennis will always be at your fingertips.
“The current owners were drawn to the court. Tennis is something they love, so it was an important feature for them when they purchased The Gables some eight years ago.
“It is uncommon to have so much space — over 1600sq m of land — in an inner-city suburb.
“The Gables is a very private property, and it has a beautiful outlook.
“The home’s architecture, size and the flexible space on offer will be a drawcard for buyers — it is exquisite.”
The Gables.
The Gables.
Hidden from street view, the property reveals itself at the end of a tree-lined laneway, where electric gates open to unveil an impressive sight.
This grand Federation-era home commands attention with its imposing size and design, setting the stage for what lies within.
The expansive floorplan of The Gables caters to various lifestyle needs, featuring up to six living areas on the ground floor.
High ceilings, picture rails, timber balustrades with decorative toppers, and polished floorboards showcase the home’s classic features, while modern amenities ensure contemporary comfort.
At the heart of the home, a spacious granite kitchen flows seamlessly into an informal dining and family area.
This central hub opens onto a large private courtyard and a balcony overlooking the tennis court, creating an ideal space for both everyday living and entertaining.
The Gables.
The Gables.
The ground floor’s versatile layout allows for customisation to suit individual needs.
One of the living areas has the potential to be a bedroom, with access to a nearby full bathroom. It would be perfect for guests or multi-generational living arrangements.
Upstairs, the accommodation is impressive. Five spacious bedrooms, a study, and three well-appointed bathrooms provide ample space for family and visitors.
The main bedroom suite is a retreat, featuring a walk-in and walk-through wardrobe, a romantic gas fireplace, and a window seat offering mesmerising night views.
An expansive balcony accessible from multiple points on this level provides a perfect vantage point to enjoy the fresh Hobart air and take in the panoramic vistas.
Among the property’s standout features is its full-sized tennis court, allowing residents to practice their game without leaving home.
The Gables.
The Gables.
After a match, the 12m infinity pool and spa — both heated with heat pumps — offer the perfect place to unwind.
A poolside pavilion with change room facilities enhances the outdoor entertainment options.
The home’s elevated position affords breathtaking views across Sandy Bay, Wrest Point, and the River Derwent from nearly every room. These vistas extend to the Eastern Shore, creating a constantly changing panorama that connects the residence to its stunning surroundings.
While The Gables retains its original grandeur, it has been thoughtfully updated for modern living.
A combination of reverse-cycle heat pumps, electric panel heaters, and gas heating ensures year-round comfort, seamlessly blending old-world charm with contemporary convenience.
Level entry from the double carport provides easy access to the home, with additional off-street parking available for multiple vehicles.
The Gables.
The Gables.
The Gables offer more than just a home; it presents a lifestyle. From its prime location in one of Hobart’s most prestigious streets to its blend of historic charm and modern luxury, this property stands out as a rare find.
With its spacious interiors, stunning views, and resort-style amenities, it caters to those seeking a family home that can also serve as an entertainer’s paradise.
No.334 Davey St, South Hobart is listed for sale with EIS Property. It is priced at “Offers over $4m”.
The post Landmark historic home set to fetch top dollar appeared first on realestate.com.au.
In addition to dividing the real estate industry, the debate over the Clear Cooperation Policy (CCP) is highlighting the different desires home sellers may have when it comes to marketing their properties.
Unlist and Off-Markt are two firms that utilize different strategies as they look to capitalize on the growing discourse surrounding listings.
Hinge for real estate
Founded by Dallas-based real estate professionals Brian Pienciak and Kyle Brinkley, Unlist matches real estate agents with off-market properties.
Pienciak and Brinkley describe the platform as “a dating app for real estate.” It’s only available to licensed real estate professionals.
“A user inputs their buyers and their requirements, like price point, location, bed/bath count, and they do the same for off-market properties. UNLIST makes potential matches, users are notified via push notification, and they can access the matches through their respective dashboards in the app,” the co-founders wrote in an email.
“You then review your potential matches and swipe left or right indicating whether it’s a match you want to follow up or pass on. If there is a promising match, the user is given the other agent’s contact information or can use the in-app chat to directly reach out and further discuss to see if there is a deal to be made.”
Unlike other home search platforms, users cannot search the Unlist database. Instead, they are only notified when an off-market listing matches one of their buyer profiles. As of now, Unlist, which launched in March, is only available in the Dallas-Fort Worth metro area, but the founders are eager to grow and scale the platform.
“The plan is to grow the DFW market first, and then hopefully spread into the other major markets in Texas and ultimately nationwide,” Pienciak and Brinkley wrote. “We want to create a core group of users who understand the value of the platform and can testify to its value versus growing too big, too fast.
“DFW is a hot market with a lot of top producing agents who we cater to. That said, tomorrow we could push a button and scale this into other markets be it Miami, LA, and NYC.”
The co-founders said the app currently has about 200 downloads in the app store. They believe the increased discussion about private and off-market listings will only help the platform grow.
“Regardless of which side you fall on in the debate, the one thing that’s certain is off market deals are not going away,” they wrote. “They didn’t go away in May of 2020, and arguably CCP caused the inverse making them more prevalent and exclusive.
“What is not debatable is that if you are not plugged in to the off-market ecosystem, you are 100% missing out on deals for your clients.”
In order to comply with CCP, agents give off-market properties in the platform “ambiguous” names and they are currently unable to share photos.
“With NAR’s revised guidance on what triggers the requirements of CCP, we believe that our app’s matching engine effectively becomes a one-to-one broker communication, which no longer constitutes a violation,” Pienciak and Brinkley wrote.
As Pienciak and Brinkley look to grow the platform, they said they have no plans to partner with specific brokerages as they want all agents to be able to join.
“One of the reasons we built the app the way we did is to give agents exposure to other agents that they may not necessarily connect with. In-house private networks are great for the brokerage, but they don’t maximize the agent’s reach to potential buyers and sellers,” they wrote.
Test drive your listing
While Unlist may be a good fit for sellers who have already agreed to list a property with a real estate agent, Off-Markt is catered toward the homeowner looking to showcase their home regardless of whether or not they want to sell.
Founder Alison Bernstein views Off-Markt as “a peer-to-peer real estate marketplace that puts homebuyers in the driver’s seat, to explore and connect with homeowners in real time, and discover real estate like never before.”
“The concept of going to market with a property has always been very daunting, expensive and overwhelming, and I felt that there were so many people that would buy a home and so many people that would sell a home if it was easier to go to market,” Bernstein said.
“I think there are many ways a homeowner can use the Off-Markt platform. On the front end, it is a great way to share the story of your home and your journey of homeownership. On the back end, it really becomes a much more liquid marketplace because anybody can approach anybody at anytime. The whole reason we are called Off-Markt is because why should people only be searching for properties that are on the market?”
But Bernstein made it clear the platform isn’t about to cut real estate professionals out of the transaction. Users can tag their agent, interior designer, landscaper or other real estate professional in their posts, creating a digital portfolio of their work within the platform.
“Right now, if a real estate broker has a live listing, you can see their picture or name with the listing and they are relevant, but once the property sells, there is nothing left, so this is a great way for them to share the story of their business and show all the things they have done,” Bernstein said. “For consumers, this is helpful because they can see who is doing business in a particular building or neighborhood.”
As the discussion of CCP and listing strategies goes mainstream, Bernstein believes more homeowners may look to showcase their house without actually listing it — and this is exactly what Off-Markt is designed to do, she said.
“I can’t tell you how many people end up buying homes where they literally went and knocked on a door, so this is just a more efficient, effective transaction platform that enables them to do that,” Bernstein said. “Our whole concept is to allow people to have a conversation and see if they agree on terms to transact.”
The federal trigger leads bill advanced in the U.S. House of Representatives after being officially noticed during a hearing of the Subcommittee on Financial Institutions on Tuesday.
The Homebuyers Privacy Protection Act is expected to be considered during a markup session on May 20 — a process that determines whether a bill should be recommended for a full House vote and in what form.
“This is what we’ve been waiting for — a chance to have an open and transparent debate about the merits of the bill,” said Bill Killmer, senior vice president for legislative and political affairs at the Mortgage Bankers Association (MBA), which is part of a coalition of 17 groups representing housing and financial services stakeholders and advocates.
The trigger leads bill failed to pass the House at the end of 2024, despite receiving approval from the Senate. It was reintroduced in the 119th Congress on April 10 as a bicameral, bipartisan effort (S. 1467 and H.R. 2808), led by Sens. Bill Hagerty (R-Tenn.) and Jack Reed (D-R.I.), along with Reps. John Rose (R-Tenn.) and Ritchie Torres (D-N.Y.).
While trigger leads are legal, consumers often report receiving hundreds of calls, texts and emails with offers of credit. This often happens when a potential borrower’s credit is pulled for a mortgage application and a credit bureau sells that information to other companies seeking to market to the consumer.
A version of the bill attached to the 2025 National Defense Authorization Act (NDAA) prohibits all forms of solicitation — including calls, mail, emails or texts — unless explicitly authorized by the consumer, transitioning from an “opt-out” to an “opt-in” model.
This version still allows solicitations by a consumer’s mortgage originator and servicer, as well as from insured depository institutions and credit unions with existing consumer relationships.
The reintroduced bill differs slightly from the version passed by the Senate and attached to the NDAA in December. It now includes a clarification affirming that companies using trigger leads must be prepared to make a bona fide — or what the statute calls a “firm” — offer of credit, Killmer said.
“We’ve always supported making bona fide offers of credit,” Killmer added.
He said this provision targets some players in the industry that have engaged in practices that could be considered predatory or even fraudulent. They may present themselves as the original lender, when in reality they’re using trigger leads as a marketing tool.
HousingWire previously reported that the Consumer Data Industry Association (CDIA) was working to modify the language of the bill by proposing a more limited version. According to sources, this alternative would allow “written offers” via mail, email or text from any company that receives a mortgage lead. It would include a two-year implementation period.
Despite ongoing negotiations, Killmer said he expects the bill to pass in 2025. If enacted, companies would have six months to comply — a timeline he considers “more than enough.”
On the newest episode of the RealTrending podcast, host Tracey Velt sits down with OB Jacobi, co-president of Windermere Real Estate, to discuss the evolving role of multiple listing services (MLSs) and the ripple effects from recent changes to the National Association of Realtors’ Clear Cooperation Policy.
Jacobi, whose family has led Windermere since its founding in 1972, offers perspective on how industry leaders should adapt in the wake of the recent commission lawsuit settlements.
He also emphasizes the importance of technology-driven strategies and warns against overlooking the power of hyperlocal market dynamics.
This conversation excerpt has been edited for length and clarity.
Velt: You’ve mentioned that you don’t like to react impulsively as a leader. What do you think separates strong brokerage leadership from reactive leadership today?
Jacobi: Well, I think there’s a bunch of things. One, I think it’s having clear values and sticking with your values. It’s very easy to be swayed to one side or the other.
This issue specifically around private listing networks and office exclusives is very, very easy to say that could benefit us. It could benefit me with 30% market share in Seattle. I could easily be the beneficiary of something like that. So having very clear values and sticking to it is leadership No. 1, I think.
He went on to say that staying grounded in values not only guides decisions but attracts agents who share these principles.
Jacobi: People that are attracted to Windermere, and know and like our values, are standing behind us in what we’re saying, which is really neat to see.
Avoiding needless conflict, particularly as competition between brokerages has turned increasingly combative, was also cited as a vital piece of the puzzle.
Jacobi: What we’ve seen locally in Seattle is we were called out by Compass as part of the Northwest MLS, and controlling the board and all this malarkey. And we could easily have gotten into, you know, Instagram fights and social media fights.
But what we found is that the Compass people believe in what Compass is doing. The Windermere people believe in the Windermere stuff. It’s almost like a political or religious war out there. Agents are after each other. As a leader, we’ve got to be really careful to not do the harm to them so they can’t do their jobs for their customers.
When asked what national brands get wrong about local market power, Jacobi pointed to the challenge of applying a one-size-fits-all approach.
Jacobi: It’s really hard to govern from afar. It’s hard for us as a franchisor operating out of Seattle to say our customs are the same in Utah or the same in Portland or the same in Montana. They’re not. They’re just not.
JKDS is a licensed New York State real estate brokerage firm. #10351200205