Real estate embodies the American dream, and as a profession is filled with people fighting for their communities and their clients.
As Fannie Mae and Freddie Mac inch toward a possible release from federal conservatorship, industry leaders on Tuesday discussed potential paths for the government-sponsored enterprises (GSEs), emphasizing the need for market stability and competition.
The GSEs’ possible release and the timing of a change is the topic of much speculation. Recent commentary from U.S. Department of Commerce Secretary Howard Lutnick, who appeared on CNBC in September, said that the administration’s plans for an initial public offering (IPO) “could well be this year … sooner than people think.”
Lutnick said that only a small portion of the mortgage giants, which have been under federal conservatorship since the 2008 financial crisis, would be sold to the public.
Speaking at HousingWire’s Mortgage Banking Summit, Pete Mills, senior vice president of residential policy at the Mortgage Bankers Association, and Rob Zimmer, director of external affairs at the Community Home Lenders of America said the conversation in Washington has shifted from whether to end conservatorship to how to do it while protecting taxpayers and maintaining market stability.
“There’s a deal track and a market stability track,” Mills said. “The Treasury is highly focused on ensuring the 30-year fixed-rate mortgage remains available in all market conditions.”
Both Zimmer and Mills said any equity sale or secondary offering of GSE stock would likely require Fannie and Freddie to exit conservatorship under a consent order — a structured agreement that would impose benchmarks and restrictions while allowing limited private investment. “At some point, if they’re serious about selling equity, they’ve got to be out of conservatorship,” Zimmer said.
Zimmer added that maintaining two separate GSEs remains critical for competition and access to the secondary mortgage market, particularly for community lenders. “At CHLA, we don’t like monopolies — not in the private sector, not in government,” he said.
Zimmer and Mills also stressed that updated regulatory frameworks must be in place before any transition, which would formalize long-standing principles such as consistent guarantee fees, bright-line boundaries between the primary and secondary markets and operational safeguards to ensure equal access for small lenders.
“I think one of the big questions for the new regulator is, where do they compete and where do they align? With respect to GSEs, you’d like to see alignment on things like servicing standards and loss mitigation standards, alignment with respect to the Uniform Mortgage-Backed Security…I think if they’re closer to private companies, they’ll compete even more on technology, on service, on how they do risk-sharing transactions….and I think this is an area where I think we have to have competition, so the idea of merging the two into a single company I think would be a big mistake,” Mills shared with the audience.
Both Mills and Zimmer acknowledged that many in the industry today have never operated in a world without conservatorship. “You’ve gotten used to a fairly competitive market between large and small lenders,” Mills said. “Getting this right is really important, particularly to smaller institutions.”
Zimmer warned against allowing the GSEs to remain under direct political control, saying that would perpetuate a “seesaw mortgage policy” that shifts every four years with changing administrations. “We want sound housing policy that transcends politics,” Zimmer said.
As the federal government shutdown continues, the consequences for the housing market and the broader economy grow more serious by the day.
Real estate accounts for nearly 20% of the U.S. economy, touching every community and driving millions of jobs. Each additional day of uncertainty threatens programs that help buyers, sellers, and property owners navigate an already challenging market.
Among the most immediate impacts is the lapse of the National Flood Insurance Program (NFIP), which supports roughly 4.7 million policies and backs $1.3 trillion in coverage across the country. The NFIP’s inability to issue new policies is complicating an estimated 1,400 property transactions each day, leaving many buyers in high-risk flood areas unable to obtain flood insurance before closing on their homes.
Flood insurance isn’t the only program impacted
Beyond flood insurance, the shutdown has slowed or halted activity across multiple housing programs. FHA loan endorsements face potential delays, while USDA has stopped issuing new loans and loan guarantees entirely during the shutdown, creating obstacles in financing for first-time and low- to moderate-income buyers. HUD programs that provide rental assistance and community development funding are also operating with limited staff. This means local governments and nonprofits may experience delayed grant disbursements, inability to get answers on program compliance questions, and loss of technical assistance for implementing housing and community development projects.
For homebuilders and housing developers, interruptions in federal data collection and agency coordination add another layer of uncertainty. A prolonged lapse could disrupt permitting processes, delay appraisals, and postpone infrastructure projects critical to expanding housing supply.
Each day the shutdown continues compounds these challenges. For millions of Americans, it means uncertainty about closing dates, delayed access to affordable housing, and higher costs as markets react to instability. For the broader economy, it risks slowing growth in one of the country’s most important sectors.
The National Association of REALTORS® strongly urges Congress to reach a deal to reopen the government as soon as possible and restore stability to housing programs. America’s housing market and the families and businesses that depend on it deserve the ability to move forward with confidence.
Shannon McGahn is the executive vice president and chief advocacy officer for the National Association of Realtors.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.
To contact the editor responsible for this piece: tracey@hwmedia.com
The cast of The Nanny (clockwise from left): Benjamin Salisbury, Charles Shaughnessy, Fran Drescher, Nicholle Tom and Madeline Zima. Picture: Channel 10
From the flashy fashion to the hilarious culture-clashes, The Nanny remains a beloved TV classic.
Airing from 1993 to 1999, the sitcom followed the story of Fran Fine, a cosmetics saleswoman hired as a nanny by widowed Broadway producer Maxwell Sheffield after accidentally showing up on his doorstep.
While Fran was a street-smart woman from Flushing who landed in a Manhattan mansion, in real life actress Fran Drescher was the only cast member who earned an eye-watering pay cheque to invest in high-end properties.
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The Nanny aired from 1993 to 1999.
As the lead actress, Drescher is by far the wealthiest member of the cast, with an estimated net worth of $US25 million ($A38 million).
The former SAG-AFTRA president reportedly earned $US1.5 million ($A2.3 million) per episode during the final season of The Nanny, making her one of the highest-paid actresses in TV at the time.
Her wealth stems not just from her acting, but from being the co-creator and co-producer of the series alongside her ex-husband, Peter Marc Jacobson.
She also continues to rake in substantial residuals from re-runs and streaming syndication.
Drescher owns a beachfront home in Malibu, which she purchased in 1997 for $US1.2 million ($A1.8 million).
The three-bedroom property is now estimated to be worth about $6-10 million ($A9.1-$A15.1 million).
As the lead actress, Fran Drescher is by far the wealthiest member of the cast. Picture: Channel 10
Drescher in Sydney with now ex-husband Peter Jacobson, a writer and producer for The Nanny.
Back in 2020, Drescher told the New York Post how the Malibu home became a sanctuary after her divorce from Jacobson and battle with uterine cancer.
“This was my first major purchase on my own,” she said.
“It was quite scary but that was the journey I was on: to define myself independently of the marriage and to discover who I am without asking somebody else, ‘What do you think, honey?’”
Earlier this year, Drescher was forced to evacuate her Malibu property due to the LA wildfires.
The TV icon has been living in New York since January. Despite her home still being intact, the actress said her residence “it’s not liveable”.
While she has no plans to return to her LA home any time soon, Drescher told People she feels “very blessed that I have a beautiful apartment on Central Park”.
“It was very healing for me and the dog when we went there,” she said.
“I ended up spending six months there, and really kind of consider that now my main residence. And this little beautiful apartment is my pied-à-terre in LA.”
Peek inside Drescher’s sunny Malibu retreat. Picture: Justin Coit via NY Post
Drescher has filled the house with intriguing art and vintage furnishings. Picture: Justin Coit via NY Post
Unconfirmed reports indicate the rest of The Nanny cast earned a much lower salary than Drescher. They have not made major public real estate purchases.
Their apparent small earnings per episode offers a glimpse into their future money moves.
Charles Shaughnessy
As the second lead, Charles Shaughnessy likely earned a significant salary, ranging between $US20,000 –$US50,000 ($A30,400 -$A76,000) per episode.
His pay cheque may have increased as the show became more successful.
Celebrity Net Worth estimates the actor has an impressive $US3 million ($4.7 million) to his name.
According to reports, Days of Our Lives alum currently resides in Los Angeles. He inherited the title of the fifth Baron Shaughnessy in 2007.
Charles Shaughnessy has an impressive $US3 million to his name.
Supporting cast members
The salaries of supporting cast members Daniel Davis and Lauren Lane may have started around $US10,000 –$US25,000 ($A15,000-$A38,000) per episode, with potential increases in later seasons.
Both Davis and Lane are estimated to be worth $US2million ($A3.1 million) each.
Daniel Davis and Lauren Lane are estimated to be worth $US2million each.
Child actors like Nicholle Tom, Benjamin Salisbury, and Madeline Zima may have earned less, though their earnings likely increased as the show progressed.
Nicholle Tom reportedly has a fortune of $US13 million ($A20.6 million) while Madeline Zima’s wealth is $US1.5 million ($2.3 million).
Nicholle Tom, Benjamin Salisbury, and Madeline Zima may have earned less, though their earnings likely increased as the show progressed.
Renee Taylor (as Sylvia Fine) and Ann Morgan Guilbert (as Yetta). Picture: CBS via Getty Images
Benjamin Salisbury is worth $US500,000 ($A793,000), according to Celebrity Net Worth.
Renée Taylor, who brought Fran’s food-obsessed mother Sylvia Fine to life and has $US3 million ($4.7 million) to her name.
Parts of this story first appeared in the New York Post and was republished with permission.
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The post Inside The Nanny cast’s property and wealth appeared first on realestate.com.au.
It’s almost that time of year! The leaves are starting to turn, kids are back in school and the fall real estate market is in full swing. We have only three months until the end of the year, so if you’re looking to close a few more deals and fill your pipeline for the spring, the time to put in the work is now.
We’ve compiled our top Halloween real estate marketing ideas as a fun way to spice up your lead generation and set yourself apart from your competitors. These Halloween real estate marketing ideas can be used by individual real estate agents, teams and even brokerages. And don’t be afraid to be a little cheesy or corny — keep it light and playful!
1. Get together with pumpkin spice and real estate advice
Host a get-together at your local Starbucks or indie coffee shop. Invite all your current leads, referral partners and friends to stop by and enjoy a pumpkin spice latte with you (and be sure to pick up the tab)!
Even though you’re all there to speak about real estate, you don’t have to make it solely shop talk. Make small talk and get to know everyone who shows up and their motivations for being there. The conversation will eventually lead to real estate, but remember, you’re in the people business first.
2. Offer adults beverages
You’ll be remembered by the adults out trick-or-treating with the neighborhood kids if you offer them a cold beer or a spiked hot chocolate (depending on the weather). They’ll be asking for “More boos, please!” (see what we mean about being corny??). Just make sure nobody is driving afterward. You can even mix up some wicked seasonal drinks for your Halloween event, chosen from this list (ahead of or on Halloween night).
Pro Tip
Keep in mind that not everyone drinks alcohol, so have alternatives like coffee, tea or energy drinks.
3. Host a trunk-or-treat event
We love this idea as a fun real estate office marketing event to pitch to your entire brokerage! Every agent invites their friends and clients, and you can host it right in your office’s parking lot. Costumes and candy are served from every trunk, and the kids get to circulate in a safe environment (assuming the parking lot is closed off and free of traffic).
4. Organize an escape room party for clients and friends
I did this one year for some of my VIP clients, and it was a HUGE hit. Everyone loved it, it was super easy to plan and people talked about it for months afterward. There are a couple of ways you can put an escape room together. The easiest is to rent a room or two at an already existing escape room establishment. The other is to create one yourself!
Although it’s definitely more work, setting up an escape room in your office and making it a real estate-themed one would be a blast! Nothing ChatGPT can’t handle if you type in “I’d like to create my own real estate-related escape room – please give me directions and hints to do it.”
5. Plan a haunted open house
Decorate with spooky-themed decor, dim the lights and play your favorite Halloween Spotify playlist (and remember to bring a portable speaker). Of course, ask your sellers first if it’s ok with them to advertise the property with a haunted house theme.
6. Present a spine-chilling movie marathon
You could plan a scary movie night inside a traditional theater (if you can find one willing to work with you) or media room — many luxury apartment complexes have media rooms available for rent. Find a friend who lives in one and ask if you can use the space! If you live somewhere warm, you could also rent a portable screen and projector to host your scary movie marathon outdoors. Give out custom-branded popcorn buckets for a subtle mention of your real estate business.
7. Coordinate a door or balcony decorating content
For those who live in high-rise apartments or condo buildings, we recommend a door or balcony decorating contest for everyone in your building. If you’re friendly with the management, I’d leverage their help in spreading the word and promoting your event. This is a great way to meet your neighbors and have them remember you as a fun, family-friendly agent when they’re looking for their next move.
8. Host a Howl-o-ween pet event
Host a doggie dress-up party with fang-licious doggie treats. This could also be turned into a contest with a prize for the best dressed pet! Order branded poop-bag holders with your logo on them (because honestly, dog owners are going to see that every day).
9. Throw a neighborhood Halloween pumpkin carving contest
Give ’em pumpkin to talk about by organizing a community event where everyone carves pumpkins together (in your driveway, at a local park or rented space). Gather prizes from local businesses that also want to get noticed in your neighborhood. Your pumpkin carving contest requires a little planning, but it’s a great way to gain followers and engagement on social media.
As an alternative, ask your friends and followers to carve their jack-o-lanterns at home, then tag you on social media. The best carving wins a prize, which you’ll announce on your IG or Facebook. You can even use a survey or give the prize to the photo with the most likes.
10. Hang Halloween-themed door hangers in your neighborhood or farm area
Be sure to use a specific call to action and incorporate fun, catchy phrases (feel free to borrow some from this article). Make sure to “creep it real” and provide plenty of “thrills and chills.” See what we did there? Your neighbors are sure to notice. Let them know you can help them find a new home that’s love at first fright. Hang your door hangers around your neighborhood or your broader real estate farm area.
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11. Give out brandede candy to neighbors
No tricks, just treats! Here are two of our favorite Halloween real estate marketing ideas that are so simple but memorable for the parents in your neighborhood: order and give out branded candy (we love personalized M&Ms in your brand colors). Or, if you’re short on time, buy regular fun-sized candy in bulk, put a few pieces in small, clear cellophane bags, and tie your business card to each bag with orange and black ribbon.
12. Hire a food truck for trick-or-treaters
If you get lots of foot traffic at your door, make a big splash in your neighborhood by serving kids (and parents) some real food on Halloween night. Many food truck owners will be thrilled by the opportunity to sell their tacos in your neighborhood if you let them park in your driveway — but be sure to check on permitting requirements.
If your budget allows, host the food truck for an hour or two. Either way, be sure to hand out your business cards to grateful parents in your neighborhood (bonus: they won’t have to cook dinner). Market your food truck event in advance on social media or with postcards or door hangers. You’ll create a huge buzz, and your neighbors will remember you for it.
13. Hand out pop-by tags with swag to adult trick-or-treaters
Everyone loves something for free, but be sure to include something your neighbors will enjoy along with your pop-by tag or business card. Some suggestions: full-size candy bars or branded swag (but only if it’s super unique and cool). Think tape measures, jar openers or sunglasses. Your Halloween-themed pop-by card should include your contact information and make it clear that you’re their neighborhood real estate agent (and local expert)!
14. Have a fun face-painting party
Before the trick-or-treaters head out for the evening, consider hosting a local artist to paint the faces of all the neighborhood kids. You’ll need to market this on social media, email or door-knocking. You might just save their parents a lot of hassle with costume planning. While the kids are having fun, you have a chance to chat with their parents. Plus, it’s a highly Instagrammable event. Trust us, the parents in your neighborhood will remember you (with gratitude) for hosting.
The full picture: Halloween real estate marketing ideas
Make the most out of these Halloween real estate marketing ideas and create new opportunities to meet your neighbors and build new relationships over the next month! Real estate is a relationship business, and the more we are out and about in our community, the more business we will find.
Happy Halloween! 
Rent prices remain high as for-sale supply expands. HW Data shows median rent holding at $2,295, while the for-sale side offers more room to maneuver. The median list price is $444,900 and active inventory stands at 863,972 homes nationwide, giving buyers more choice than earlier in the year.
For-sale market edges toward balance
HousingWire’s national Market Action Index reads 34, a level that signals a slight seller advantage but movement toward more balanced conditions. The Market Action Index gauges the relationship between supply and demand, and higher values indicate stronger conditions for sellers. In this environment, buyers are seeing more options, and sellers are reducing list prices to stay competitive.
The housing market absorption remains steady. During the period, 80,170 homes moved under contract compared with 64,328 new listings. This pairing of firm demand with a steady flow of new supply helps keep the market from tipping sharply in either direction and gives buyers time to compare neighborhoods, price points, and property condition.
Price reductions shape negotiations
About 42% of active listings recorded a price reduction last week. That share underscores how sellers are adjusting to reach active buyers, especially in segments with more comparable inventory. For buyers, widespread adjustments can translate into a clearer picture of fair value and a more predictable path to agreement. For sellers, timely changes help listings align with current activity and shorten time to contract.
Rent levels remain steady nationwide
Median rent at $2,295 continues to shows limited movement. That steadiness contrasts with the flexibility seen on the for-sale side, where price reductions are more common. For households weighing renting versus owning, the split between stable rents and adjusting list prices is an important dynamic to watch as fall progresses.
What this means for housing professionals
Mortgage lenders can use the mix of high rents and broader for-sale options to frame rent-versus-own comparisons grounded in the opportunities of current housing market. Real estate agents can coach sellers on right-sizing prices early, citing the national share of reductions and local absorption as context. Brokerages can track the weekly gap between new and under-contract listings to guide pricing, marketing cadence, and inventory strategy by market. Get the latest full market data and the Altos Market Action Index powered by HousingWire.
As the real estate world absorbs the news of Compass’s acquisition of Anywhere — the conglomerate behind some of the industry’s biggest names like Coldwell Banker, Sotheby’s, Century 21 and Corcoran — it’s worth pausing to consider what this means for the rest of us brokerage owners.
I’m speaking from the perspective of the boutique, the local, and now, what might be considered “the little guy” in real estate. I’ve always rooted for the underdog. Who doesn’t? I run a boutique, full-service agency in one of the most competitive markets in the world: San Francisco. We’ve always been surrounded by the “Goliaths” — Compass, Coldwell Banker, Sotheby’s. But now, if this merger goes through, there will essentially be one towering giant, a bigger, taller — but not necessarily better — behemoth.
Consumers don’t care about brokerage size
When hiring an agent or choosing a brokerage, clients don’t want the biggest. They want the best. They want someone deeply invested in them, not figuring out what’s best for the corporation. They want tailored attention, not templated marketing. They want relationships, not transactions. And that’s exactly where smaller, independent firms thrive. We live in the neighborhoods we represent. Our knowledge doesn’t come from national data, it comes from living and working in the areas we sell.
While the industry giants may tout their technology and reach, boutique brokerages have something even more powerful: authenticity and agility. We can instantly pivot when the market shifts. We don’t need to wait for a corporate memo or approval from a boardroom across the country. We can adopt the latest tools, experiment with marketing, and make decisions that actually serve our clients — not shareholders.
The irony: it will create opportunities for boutique brokerages
The irony of this consolidation of big brokerages is that it will create opportunities for boutique brokerages. As these mega-firms merge, they become slower, more homogenous, and further removed from the communities they serve. Meanwhile, clients, especially in markets like San Francisco, crave expertise in a quickly changing market. They want an advocate who understands not just market data, but neighborhood nuance, property potential and the emotions behind buying or selling a home.
The biggest issue arising from this merger is the elimination of consumer choice. When a handful of massive companies, or in this case one company, control up to 15% of the market, buyers and sellers lose options. The diversity of approach, pricing and perspective that comes from a competitive marketplace starts to vanish. Real estate becomes less about serving the client and more about serving the corporation. That kind of consolidation doesn’t foster innovation, it stifles it. And ultimately, it’s the consumer, no pun intended, who pays the price.
Boutique brokerages are built different
Boutique brokerages are built differently than mega corporations. We are relationship-driven, not volume-driven. We don’t measure success by how many agents we recruit, but by how many clients we help.
That’s why, as the brokerage landscape narrows, the independent agency will be the one that will succeed. Yes, the Compass–Anywhere merger will reshape the real estate landscape, but not in the way Compass desires. It will cause the pendulum to swing back towards the boutique, rewarding firms that focus on personalized service, local expertise, and genuine client relationships — the very qualities that cannot be replicated by size or scale.
The goal of mergers like this is to monopolize and control the market. The reality is the opposite. These moves highlight the gaps and inefficiencies of the giants, giving smaller, independent brokerages — the “Davids” — an opportunity to focus, take aim and capitalize on the very areas where scale falls short. A single well-placed stone, whether it’s exceptional service, deep local knowledge or personal connection, can defeat a giant.
David Cohen is the founder of City Real Estate in San Francisco.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.
To contact the editor responsible for this piece: tracey@hwmedia.com
No.3 Riverview Pde, Rosetta. Picture: Supplied
When this remarkable property was listed for sale last week, it made a splash with buyers.
Capturing hearts and the imagination of buyers far and wide, it raced to the No.1 spot in Tasmania for views on realestate.com.au and was ranked No.12 nationwide. Over 7000 people, and counting, have taken an online tour of this special home.
The buzz was immediate, said Wolf Property director Cam Rogers.
“No doubt its sale will set a new pricing benchmark for this suburb,” he said.
No.3 Riverview Pde, Rosetta is a property that wants for nothing.
Nine-car garage? Check. Gorgeous pool? Check. Wide water views? Check. Luxurious interiors? Check. Total privacy? Check that box, too.
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No.3 Riverview Pde, Rosetta.
No.3 Riverview Pde, Rosetta.
No.3 Riverview Pde, Rosetta.
“On a half-acre block, the property has 500sq m of floor area and entertainment space,” Mr Rogers said.
“And the garage, 155sq m, is the size of a house.
“There is a brand-new deck, an outdoor kitchen, a 70sq m pool house, and the 250sq m outdoor entertaining area highlighted by a spa and a water feature.
“It is a special property. A very private oasis. And you can be in the city in 15 minutes, or at Mona, or MyState Bank Arena even faster.”
From its commanding, elevated position, this six-bedroom house looks across the River Derwent while enjoying a desirable easterly aspect.
It is a residence designed on a grand scale, an opulent home built for comfort and year-round enjoyment.
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No.3 Riverview Pde, Rosetta.
No.3 Riverview Pde, Rosetta.
At the heart of the home, a designer kitchen is equipped with top-of-the-range Siemens appliances, including a built-in coffee machine, an integrated fridge and freezer, three ovens, a Zip Hydro tap with boiling and filtered water, wine cooler, a five-burner induction cooktop, and extensive stone benches.
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No.3 Riverview Pde, Rosetta.
No.3 Riverview Pde, Rosetta.
Expansive glazing draws in natural light and frames uninterrupted views across the water, while the kitchen has direct access to the new timber balcony and the multiple outdoor entertaining areas beyond.
Adjoining is an open-plan living and dining area warmed by a gas fireplace beneath lofty ceilings. It is an inviting centrepiece for family living.
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No.3 Riverview Pde, Rosetta.
No.3 Riverview Pde, Rosetta.
With six bedrooms and four bathrooms, there will always be plenty of space for a family lifestyle.
Mr Rogers described the master bedroom suite as being similar to a resort.
“It has dual walk-in dressing rooms — one with a chandelier — and a luxe ensuite,” he said.
“The home also has an upper level bedroom, also with an ensuite, which in any other house would be the master bedroom. It boasts wide water views, and guests coming to stay would be spoiled to stay here for a few days.”
Back downstairs, there is so much more to discover, including a home theatre and 1950s-inspired diner and bar.
No.3 Riverview Pde, Rosetta.
No.3 Riverview Pde, Rosetta.
One of the property’s most remarkable features is its substantial garage and workshop, with capacity for nine cars, a built-in bar, separate toilet and ample room for storage or hobbies. There is additional undercover parking in a three to four car carport.
The grounds are secure, low-maintenance, and designed for entertaining and enjoyment, with ample space for children, pets and guests.
The home is kept secure and hidden from the street via a long, exposed aggregate concrete driveway with electric gates and intercom system.
No.3 Riverview Pde, Rosetta.
No.3 Riverview Pde, Rosetta.
No.Riverview Pde is a showcase of scale, luxury, and convenience — a landmark home that elevates everyday living into something truly exceptional.
“It is an aspirational home,” Mr Rogers said.
“And while the long list of features is impressive, it is also a very welcoming, comfortable home to live in.
“It could be a family or an entertainer’s dream come true.”
No.3 Riverview Pde, Rosetta is listed with Wolf Property at $2.7m-plus.
The post Got it all: 9-car garage, water view, pool, spa, outdoor kitchen appeared first on realestate.com.au.
Zillow made waves on Monday when it announced an app integration with OpenAI’s ChatGPT. Through the integration, consumers can type a description of what they’re looking for in a property into ChatGPT, and it will provide them with listings complete with photos, maps and pricing, all powered by Zillow.
This integration differs from other recent announcements involving artificial intelligence, such as Inside Real Estate’s HomeSearch AI. The listing data is fed from Zillow to another website, ChatGPT, instead of being kept within Zillow’s domain.
But while many in the real estate industry were excited by this news, Victor Lund, the managing partner of WAV Group, had some concerns.
In a blog post on WAV Group’s website, Lund said that while the integration of Zillow’s app into ChatGPT creates a “slick experience,” it masks a “serious problem.”
“Zillow didn’t ask permission from the MLSs or brokers who own that data before transmitting it into OpenAI’s ChatGPT environment,” Lund wrote.
According to Lund, Zillow’s IDX licenses permit it to display MLS data on its website and its mobile app. But these permissions do not extend to Zillow’s ability to publish or transmit MLS data to other domains, especially those controlled by other companies.
“ChatGPT is not a Zillow property. It is a separate, third-party platform operated by OpenAI, which holds no data license with any MLS. When Zillow connected its Model Context Protocol server to OpenAI’s Software Development Kits, it effectively republished MLS listings in an environment that no broker, MLS, or participant controls,” Lund wrote.
“That’s a clear violation of the cooperative rules that underpin the MLS. It’s no different than Microsoft scraping MLS listings without a license and publishing them.”
According to Lund, this integration between Zillow and ChatGPT is a “breach of both the spirit and the letter of cooperation.”
The National Association of Realtors‘ (NAR) MLS Handbook states that “all displays of IDX listings must also be under the actual and apparent control of the Participant, and must be presented to the public as being the Participant’s display. Actual control requires that the Participant has developed the display, or caused the display to be developed for the Participant pursuant to an agreement giving the Participant authority to determine what listings will be displayed, and how those listings will be displayed.”
Additionally, the policy notes that “a reasonable consumer receiving the Participant’s display will understand the display is the Participant’s, and that the display is controlled by the Participant.”
In its initial announcement of the integration, Zillow noted that the listing information presented to consumers on ChatGPT will be attributed to the listing agent and MLS. Additionally, the company has clarified that it is not licensing MLS data to ChatGPT and that the new ChatGPT experience operates entirely within Zillow’s existing MLS agreements.
“Zillow is leading the next great evolution in real estate search as the only real estate app in ChatGPT, a platform used each week by more than 800 million people worldwide. We always work to ensure industry rules and guardrails are in place and, in this case, we were able to also represent industry interests as part of OpenAI innovation,” a Zillow spokesperson wrote in an email. “This partnership expands listing visibility, drives consumers back to agents, and showcases responsible innovation that grows opportunity across the industry.”
Given the nature of the app integration, MLS industry veteran Saul Klein feels it’s unclear if Zillow is in fact in violation of the policy. But Lund’s post made Klein feel like it was worth looking into.
“I can see the concern and I had enough concern to forward it to our attorneys to see what they think about it,” said Klein, the CEO of San Diego MLS. “It is important to me because the value of MLS data is diluted because of misuse and the more we allow the misuse, the more dilution, the less value we have as MLSs to be the custodians of that data and protect it for property owners.”
Regardless of whether the Zillow-ChatGPT integration complies with the MLSs’ IDX feed policies, Klein believes it brings to light an important conversation surrounding the rate of technology development and longstanding MLS policies.
“People, myself included, are more and more frequently going to ChatGPT instead of Google to direct them to websites, so integrating with these AI models is really smart,” Klein said.
“Technology has evolved so much since the IDX rules were written two decades ago, and maybe this is the time, especially in Zillow’s mind, to create a conversation about that.”
This secluded home is nestled in the bush above the Great Ocean Road.
A grown-up treehouse with “one of the most mesmerising views on the coast” has hit the market in secluded bushland high above Lorne.
The scenic Great Ocean Road coastline stretches as far as the eye can see from the incredible nature lover’s paradise atop Mount St George.
The private 94.7ha retreat, at 2314 Great Ocean Road, Lorne, is offered for sale for the first time in almost 30 years.
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The land surrounding the home is zoned rural conservation.
Floor-to-ceiling glass captures the view from all the living areas and bedrooms.
Great Ocean Road Real Estate, Lorne agent Tyrone Provan said the vendors commissioned renowned Surf Coast architect Andy Sprogis to build the two-bedroom, off-grid house at the property in 2000.
A curved wall of glass overlooking nearby Teddy’s Lookout and St Georges River through the surrounding tree canopy is the centrepiece of the hillside residence.
Listed with $5m price hopes, the property is one only a handful with a frontage to St Georges River.
As the last residential address within the Lorne township, it also adjoins state forest.
“It’s a very unique property in its land holding, orientation and unbelievable outlook,” Mr Provan said.
“There is a shared driveway with the property below to the point where the land starts but once you’re up there it is just incredibly private.
“It’s an unbelievable lifestyle property for those that want to escape the world, for the adventurers and the creatives.”
The curved glass window overhangs a deck below.
The cosy downstairs living room links to a deck.
Plywood walls feature in the main bedroom suite.
He said while the vendors had lived there permanently, it would make an equally fantastic weekend getaway with a large clearing fondly known as “the footy oval” potentially paving the way for new owners to chopper in and out, should council give the green light.
Panoramic bush and ocean views create a breathtaking backdrop to the home’s main living zone which features robust blockwork, exposed steel beams and a raked plywood ceiling.
Though there’s only two bedrooms downstairs there is scope to convert a study and large artist studio into extra sleeping quarters.
“It is an absolutely showstopper,” Mr Provan said.
“Andy Sprogis as an architect did some incredible homes around the coast from Anglesea through to Lorne and the entire Surf Coast but the home has really aged well. Some people are surprised that it’s 25 years old.”
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