Check out the latest round up of real estate industry news you can use!
Better.com Lays Off In-House Agents
Embattled brand Better.com is making headlines once again, this time announcing it is laying off in-house agents in favor of working with outside parties. Those employees through Better’s brokerage subsidiary, Better Real Estate, are affected, according to Inman.
Better Real Estate was reportedly shut down Wednesday with no warning. The number of agents who were laid off is unclear, but the brokerage is licensed in more than 30 states and Washington, D.C.
Inman reports that late Wednesday evening, an e-mail went out to Better agents offering to let them continue working as partner agents, with Better collecting referral fees equal to 20 percent of their commissions.
This, of course, is not Better.com’s first run in with messy layoffs. In December 2021, CEO Vishal Garg laid off approximately 900 employees during a group Zoom call in what many called tone deaf and impersonal. Gary later apologized and took a leave of absence from the company before returning to work last year.
Compass’ Jessica Grimes Heads To Christie’s
Jessica Grimes, the woman who helped establish Compass California’s market share leadership in California, is bringing her talents to Christie’s International Real Estate – Sereno. The real estate industry veteran will lead strategic growth and marketing across Sereno’s expansion into San Francisco, Marin and Wine Country.
It is a full circle move for Grimes who, since 2012, served as chief marketing officer for former Christie’s affiliate, San Francisco-based Pacific Union International. Grimes led Pacific Union’s marketing efforts through eight mergers and acquisitions across California including the 2018 merger of Pacific Union with Compass to establish Compass’s market share leadership in California.
Grimes remained as the chief marketing officer of Compass California until 2021 when she transitioned to lead marketing for a top-ranked Compass team.
“It is a wonderful homecoming to return to the world-renowned Christie’s brand, now owned and operated by seasoned real estate leaders,” Grimes said in a company release. “I’m thrilled to join Sereno’s outstanding team and culture which supersedes any other I’ve encountered in the real estate industry.”
Led by Chris Trapani and his Co-Founder and Co-Owner, Ryan Iwanaga, Sereno partnered with Christie’s International Real Estate in February 2022.
Coldwell Banker Restructures And Announces Seven New Regions
Kamini Lane, Coldwell Banker’s new President and CEO, is shaking up the structure at the company. According to a company statement, Coldwell Banker will launch seven new operational regions, with more than 600 offices reorganized under Coldwell Banker Realty’s Northeast, East, Southeast, Central, Midwest, Southwest and West regions.
Each region will be led by a regional president, all of whom have existing positions leading Coldwell Banker Realty operating metros.
“We are investing in the growth of some of our most influential leaders while unlocking new ways to serve our markets through a more specialized structure at the regional level,” Lane said in the statement. “When we are able to move with greater speed and agility as a company, both our affiliated agents and consumers reap the benefits of a better transaction experience.”
Jennifer Lind will lead the West, which includes 124 offices across California, Hawaii, and the Pacific Northwest. Per the statement, Jamie Duran, who was the President of Coldwell Banker Realty in Southern California, overseeing over 65 offices, will transition out of that role.