Real Estate From The Trenches

New Rule Would Shift Fair Lending Focus from Outcomes to Intent

November 13, 2025

CFPB wants to officially clarify that “ECOA does not provide that the ‘effects test’ applies for determining whether there is discrimination” – meaning disparate impact claims would no longer be recognized under the rule.

The Consumer Financial Protection Bureau (CFPB) has proposed a rule that would formally end the use of the “effects test” under the Equal Credit Opportunity Act (ECOA), effectively saying that ECOA does not authorize disparate impact claims. The proposed rule would remove language in Regulation B that has, for decades, opened the door for lenders to be held liable for policies that disproportionately affect protected groups—even if those policies are neutral on their face and not intended to discriminate. The CFPB is taking comments until December 15, 2025, and cited recent executive orders calling for an end to “illegal preferences and discrimination” and eliminating disparate-impact liability in federal enforcement.I think this change is long overdue. The disparate impact standard makes it nearly impossible to create a truly “safe” rule in lending. It puts lenders and financial institutions in a position where everything is subject to interpretation and the outcome matters more than the intent. That’s not just unfair, it’s unsustainable. A lender can have zero intent to discriminate and follow well-established, sound underwriting practices, yet still face legal trouble if their policy affects one group more than another. To me, intent isn’t hard to prove. We prove intent every day in criminal courts across the country. Some rules will inevitably impact certain groups more than others, but if the rule is based on legitimate, non-discriminatory criteria, that should be the...

Zillow Hit with Class Action Over Alleged Kickbacks to Agents…Is Your Agent Steering You?

November 11, 2025

Allegations of Illegal Steering and Kickbacks against Zillow- Class Action Lawsuit- RESPA Violation

A newly filed federal class action lawsuit alleges that Zillow has been quietly pressuring real estate agents to steer buyers toward Zillow Home Loans in exchange for receiving better buyer leads. If proven true, this practice could be a clear violation of federal law, and a serious breach of the fiduciary duties agents owe their clients.

The complaint, filed November 7th in the Western District of Washington, claims Zillow used its Premier Agent and Flex programs to condition agents’ lead access on meeting mortgage referral quotas. Agents who hit targets for sending buyers to Zillow’s in-house lender reportedly got more and better-quality leads. Those who didn’t risked being cut off. Meanwhile, consumers weren’t told any of this, many were funneled into ZHL thinking their agent was simply giving sound mortgage advice.

Buyer’s Markets Are Back: Where Home Shoppers Hold the Cards Again

November 10, 2025

Buyers Markets In the U.S. - Hottest Markets

Buyers Regain Leverage in More Markets—But Not Everywhere

It’s been a long time since homebuyers had the upper hand, but in some parts of the country, the tide is turning. According to a new report from Realtor.com, a growing number of major U.S. metros have crossed into buyer’s market territory, meaning supply has outpaced demand and buyers are finally in a position to negotiate again.

Still Chasing the Dream, But Paying the Price in Florida

November 9, 2025

Florida Home Prices - Floridians Fleeing Florida

The idea of the American Dream is still alive in Florida, but for many, it’s looking more like a high-priced subscription than a birthright. According to the latest survey from Florida Atlantic University’s Business and Economic Polling Initiative, 53% of Floridians still believe the American Dream holds true. Another 54% believe their kids will probably or definitely have a better life than they did. But that optimism is being tested, and in many cases, it’s starting to crack under the weight of housing costs, inflation, and day-to-day financial pressure.

Nearly half of Floridians say they’ve thought about leaving the state because of how expensive it’s become. Housing affordability is top of mind: 80% are worried about it, and 77% still consider owning a home part of the American Dream, but only 51% believe they could realistically buy one today. Between home prices, interest rates, and down payment hurdles, buying a home has gone from a milestone to a moonshot for many middle-income households. Nearly 8 in 10 respondents said it’s harder to buy a home now than just five years ago.

Real Estate’s Commission Reckoning: What Low-Fee Brokers Mean for Agents and Sellers

November 7, 2025

reducing real estate commissions: are low-fee brokers a viable alternative for home sellers? STEPHEN BROBECK senior fellow Wendy Gilch fellow J U N E 2025

There’s no question the real estate industry is in the middle of a shift, and not a subtle one. The recent report from the Consumer Policy Center on low-fee brokers makes it even clearer: change is here, and it’s accelerating. The traditional 5-6% commission structure, long defended and protected by entrenched interests, is finally being questioned not just by regulators and plaintiffs in class-action suits, but more importantly, by consumers themselves. And for good reason.

For decades, the industry has relied on a model where the seller typically pays both sides of the commission, regardless of the quality or actual involvement of the agents on either side. That made sense when MLS access and market knowledge were tightly held by agents, but in 2025, information is no longer a gatekept asset. Buyers and sellers come to the table with more data and resources than ever before, and naturally, they’re beginning to question whether the services provided justify the cost.

Supreme Court Declines REX Case: No Verdict, But Plenty to Watch

October 22, 2025

REX’s Supreme Court Petition Denied: What It Means (and Doesn’t) for Real Estate

The Supreme Court has officially denied Real Estate Exchange, Inc. (REX)’s petition for a writ of certiorari, ending its high-profile antitrust case against Zillow and the National Association of REALTORS® (NAR). While headlines might make it sound like a landmark ruling, the reality is simpler: the Court just opted not to take the case, not to weigh in on whether NAR’s policies are legal or not.

Why Energy-Efficient Homes Still Don’t Get the Credit They Deserve

October 8, 2025

Energy Efficient homes dont get the credit they deserve

The market seems to be pushing for sustainability, but the system still hasn’t caught up. That disconnect is creating real issues for buyers, sellers, and agents.

According to the National Association of REALTORS® 2025 Residential Sustainability Report, nearly half of the agents surveyed said they’ve worked with a green-featured home in the past year. Yet, 73% aren’t even sure whether local appraisers know how to value those features properly. If solar panels, high-efficiency systems, or smart home upgrades don’t show up in the valuation, the seller doesn’t benefit and the buyer may not realize what they’re getting.

Inflation Expectations Rise While Job Confidence Slips, Housing Holds Steady

October 7, 2025

There’s a growing disconnect between how consumers feel about inflation and how they feel about the job market, and it matters whether you’re a homeowner, investor, or a real estate agent trying to read the room. According to the Federal Reserve Bank of New York’s latest consumer expectations survey for September 2025, Americans are bracing for higher short-term inflation while confidence in job security continues to slide.

Inflation expectations ticked up to 3.4 percent over the next year, up from 3.2 percent in August, and even five-year expectations inched higher. That’s a sign that consumers aren’t fully buying into the idea that inflation is under control. Interestingly, the largest jump in short-term inflation expectations came from households earning under $50,000 and those with no more than a high school education. These are the same households most exposed to rising prices, and often the ones fueling demand in the rental market.

Real Estate and the Shutdown: What Stops, What Slows, What Moves

October 2, 2025

Federal Government shutdown and impact on residential real estate market and industry

The federal government officially shut down at midnight last night, after Congress failed to pass a funding bill. While this doesn’t bring the housing market to a halt, it does throw a wrench into some key parts of the residential real estate process.

Most loan activity through Fannie Mae and Freddie Mac will continue, since they’re not federally funded, but deals involving the federal government directly will see delays or stoppages. USDA loans are paused completely. FHA and VA loans are still technically operational, but with fewer staff and slower processing, timelines are going to slip.

Zillow Pays Redfin $100 Million to Exit the Rental Ad Game….and the FTC Isn’t Having It

September 30, 2025

In what the FTC is calling a “blatantly anti-competitive agreement,” Zillow paid Redfin $100 million to get out of the rental advertising business and hand over its multifamily customers. That’s not an exaggeration…according to the FTC’s 32-page federal complaint filed September 30, the agreement requires Redfin to terminate all contracts for properties with 25 or more units, share sensitive customer info, lay off its entire rentals team, and direct its clients (and staff) over to Zillow.

In return, Redfin gets to stay in the rental search game… as a syndicator for Zillow listings only. The agreement spans up to nine years and effectively kills off Redfin as a competitor in the ILS (Internet Listing Service) space for large rental properties.

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