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The commission split lawsuit continues to haunt the National Association of Realtors. The Department of Justice has revived an old lawsuit, one that NAR had previously been dropped from, due to its new stance on the non-competitive nature of MLS agreements. Previously, REX had sued Zillow and NAR over their treatment of non-MLS listings. Even before REX lost the case, NAR was dismissed as a defendant because of the optional nature of its agreements.

A request for appeal was previously denied by a judge, effectively putting this lawsuit to bed. But, the DOJ has now asked the court to reconsider, as it could have implications for future antitrust litigation. In its amicus brief, the DOJ stated that the court had an “incomplete approach that creates risk that associations like NAR could evade antitrust scrutiny with optional rules."

Apparently, not only is NAR not fully in the clear with their settlements, but they are also being forced to refight old battles that they thought they had already won.

Mortgage Bankers Association just released new commercial loan data showing that outstanding debt on commercial real estate rose 0.9 percent in the first quarter of the year, up $40.1 billion. Surprisingly, multifamily had the highest increase, gaining 1.1 percent or $23.7 billion. This growth is happening “despite slow mortgage originations activity.”

If you were wondering how a forced return to the office is going, look no further than the reaction from Dell’s employees over its ultimatum to return to the workplace or forego pay raises. Over half of the company’s U.S.-based employees and over one-third of its international ones decided that they would rather stay remote, even if it meant not getting that pay bump next year.

In a new article, we take a deep dive into real estate investment and management firm Jamestown L.P. Founded in 1983, Jamestown is known for iconic properties like One Times Square and Chelsea Market. Today, they are embracing sustainability and technology, with pioneering mixed-use developments and even a crowdfunding platform. With a recent stake acquired by Simon Property Group, the firm continues to lead with projects like self-sanitizing changing tables and innovative parking systems.

This week in Propmodo Technology, we are exploring Property Research with the support of commercial real estate marketplace, Crexi. Property investors often rely on extensive data analysis to predict rising property values, but tracking retailers like Trader Joe's and ALDI offers a shortcut. Investors can leverage these and other retailers' sophisticated site selection processes to piggyback their research and make informed investment decisions of their own.

Curious about what to expect in the softening multifamily market in the second half of 2024? Sign up for our next Propmodo Live webinar on July 9th, where we will talk to experts from JLL, Defigo, and Veritas about how they plan to attract and retain residents in the changing multifamily landscape. We will explore how owners and managers can improve operational efficiencies while navigating a landscape of compliance hurdles and evolving technology.

Now, let's dig in!

Jamestown’s Latest Strategy Is Leaning Into Tech Partnerships

The real estate investment and management firm Jamestown L.P., founded in 1983, is known for iconic properties like One Times Square and Chelsea Market. Embracing sustainability and tech innovation, Jamestown has pioneered mixed-use developments and even launched a crowdfunding platform. With a recent stake acquired by Simon Property Group, the firm continues to lead with projects like self-sanitizing changing tables and efficient parking systems, prioritizing adaptive reuse and sustainability.

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Insider Insights

💰 Supply and price demands: Home prices have hit a new a high in May as sales have continued to slow due to lack of supply.

🚂 Slow train: A number of consistent mass transit delays are making it harder for companies attempting to bring workers back to the office.

Overheard

Propmodo Technology: Site Selection

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Propmodo Daily is written and edited by Franco Faraudo with contributions from readers like you and the Propmodo team.

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