Robert Reffkin

Founder & CEO of @Compass | Founder of @AmericaNeedsYou | Author of No One Succeeds Alone

[Robert Reffkin @RobReffkin]

It's no secret that the latest jump in mortgage rates has been painful for the housing market. Sellers are cutting prices at the highest rate for this time of year in over a decade.

But it has also made one thing clear: It may be time to stop waiting for lower rates and start adapting to a new normal.

For the past few years, homebuyers and sellers have had good reason to believe lower rates were around the corner. Many waited on the sidelines as a result. Lower rates are still a possibility, but it's becoming harder to build a housing strategy around the assumption that they're coming soon.

Buyers shouldn't pass up their dream home in hopes that it will be a little cheaper tomorrow. Sellers shouldn't delay their move in hopes that their house will sell for more next month.

Instead of waiting for the market to return to the past, how can you succeed in the market we have today?

[Robert Reffkin @RobReffkin]

#MotivationMonday

[Robert Reffkin @RobReffkin]

Open House Sunday! A big thank you to Jeff Lowe for the tour of 132 E Delaware Unit in Chicago, IL.

This is a masterful renovation of penthouse level home perched atop the world-renowned Four Seasons Hotel. This preferred northeast corner offers a front-row seat to the iconic Chicago skyline and expanse of Lake Michigan.

Please reach out to Jeff Lowe of Compass at [email protected] for a private tour!

[Robert Reffkin @RobReffkin]

Thank you to Suzette Kraus for the tour of 351 Erskine Road in Stamford, CT this afternoon.

Rich in history and beautifully reimagined for modern living, this extraordinary North Stamford property began as a c.1780 Saltbox Colonial and has evolved into a gracious country estate and compound. Set on 2.7 bucolic acres, the property artfully blends historic character with contemporary comfort.

Please reach out to Suzette Kraus of Compass at [email protected] for a private tour!

[Robert Reffkin @RobReffkin]

Compass Burlingame! Loved being back on the Peninsula with this group of real estate professionals. Thank you for the care you put into everything you do. Can’t wait to see you all again soon!

[Robert Reffkin @RobReffkin]

Coldwell Banker Realty! What a great morning in the Pacific Heights office. Thank you to Brit Bertino and Noreen Smith for your local leadership.

[Robert Reffkin @RobReffkin]

Century 21 Masters! Thank you to Randy Thompson for hosting me in San Francisco, and to the real estate professionals who joined us. Your love for this city really shows.

[Robert Reffkin @RobReffkin]

I had the honor of sitting down with Nikki Field in front of 2,700 Sotheby’s International Realty real estate advisors. Thank you, Nikki, for the conversation, and to everyone who joined us.

[Robert Reffkin @RobReffkin]

Corcoran Miami Beach! Thank you for hosting me in your office and making time at the end of a busy Monday. It was great spending time with this group of real estate professionals.

[Robert Reffkin @RobReffkin]

What a great way to start the week! Yesterday I had the opportunity to sit down with Mary Lee Blaylock, President of Coldwell Banker Affiliates, at the CB Leadership Summit in Miami.

Thank you to everyone in the room. I’m grateful for your partnership as we build the future together.

[Robert Reffkin @RobReffkin]

Coldwell Banker Realty Miami! I started the week off in Brickell with a full house of our real estate professionals. There is so much talent and drive in this office. Thank you to everyone who joined us!

[Robert Reffkin @RobReffkin]

Compass Miami! Thank you to Liz Hogan for hosting us today in her beautiful listing, and thank you to the local team for putting on a great event. It’s always great to see this group!

[Robert Reffkin @RobReffkin]

#MotivationMonday #QuoteOfTheDay

[Robert Reffkin @RobReffkin]

Open House Sunday! Thank you to Josh Doyle for the tour of 535 Park Avenue. Uncompromising detail abounds in this Architectural Digest featured Park Avenue residence with 3 bedrooms, media room and 4.5 bathrooms. Residence 8AB is a 3,250 SF prewar home reimagined by @daniellerichterdesign in a white glove cooperative.  

Highlights include 69 feet of Park Avenue frontage, four exposures, and 10-foot ceilings. Inside, chevron oak floors run beneath hand-crafted plaster moldings. A fireplace imported from London anchors the southwest corner living room, and the dining room is framed in antique mirrors and lighting by Anna Karlin. In the kitchen, a La Cornue range sits across from a quartzite island lit by a Murano glass chandelier. The primary suite has its own art nouveau fireplace, two bathroom, and a dressing room finished with black mother-of-pearl dressing table. Please reach out to Josh Doyle or Ari Afshar of Compass [email protected] or [email protected] for a tour.

[Robert Reffkin @RobReffkin]

The proof that its a reasonable request for CRMLS to stop fining agents for public marketing outside of CRMLS, is that CRMLS explicitly allowed it 📄

See the “CRMLS SELLER’S INSTRUCTION TO EXCLUDE LISTING FROM THE MLS” 2018 form before CRMLS changed the rules. “Option A” clearly states: “Market the Property, but do not submit the Listing in to the MLS…” 

As public marketing channels outside the MLS improved for sellers (social media, brokerage websites…), CRMLS changed the rules simply to not have to compete with those public marketing options.

In 2019, when CRMLS was on the MLS Roundtable, they created the “MLS Agenda 2022” report which explicitly states “MLSs must react immediately” to stop competition from competing public marketing channels. Immediately following this report, MLSs across the country started blocking public marketing for the first time.

Compass is preparing an antitrust lawsuit against CRMLS to stop them from fining agents for public marketing (~30% of MLS markets across 12 states don’t fine agents for public marketing). Expect the lawsuit to hit in the next few weeks. In this lawsuit, CRMLS won’t be able to claim they are protecting fair housing or transparency because the lawsuit is solely asking CRMLS to stop fining agents for public marketing. It will be clear CRMLS is only protecting CRMLS.

[Robert Reffkin @RobReffkin]

Corcoran Palm Beach! Wrapped up two days in South Florida with real estate professionals who bring so much style and heart to this market. Grateful for the time together.

[Robert Reffkin @RobReffkin]

Coldwell Banker Realty Delray Beach! A fantastic afternoon with 100+ of our real estate professionals. Thank you for the great questions, the big smiles, and for making this stop such a highlight of the trip.

[Robert Reffkin @RobReffkin]

Compass Palm Beach! Always great to be back with this group of real estate professionals. Thank you for spending the afternoon with me and for the passion you bring to this community every day.

[Robert Reffkin @RobReffkin]

Sotheby's International Realty Palm Beach! A wonderful morning with 100+ of our real estate professionals in Palm Beach. The warmth and camaraderie in this office are felt the moment you walk in. Thank you to everyone who joined us.