>> redfin saved consumers $ 1.6 billion in fees. we saw a higher affinity for redfin.m they know they can get a deal from redfin and feel this news gave them permission. >> redfin has a standard commission unlike the industry, anywhere from 5 to 6%, kind of the generalized commission you could negotiate that but redfin has a different model. right? >> right. we charge a fee as low as 1% to list a home. if we sell it directly to a buyer total commission about 2%. represent a buyer on a listing hosted by another brokerage we refund part of our commission to that buyer. 18 years trying to change the game, give consumers a better deal. sometimes asy. sometimes it's been hard, but over the weekend it got easier. >> okay. so not just plugging redfin, ceo i know. have you actually been seeing more business because of this restructure over the weekend, people confused how the general market is saying, okay. redfin seems clear? >> yes. listing demand day of the settlement popped 14%. home buyer demand over the weekend popped 5%. that's not year on year. that week on week. an un

so there'll be fewer agents for firms like redfin and zillow, out there. but but we should see a shift away from the mediocre part time agent towards the professional full time agent, which is good for, the professional full time agents and also good for society. >> yeah. all right, this is fascinating, by the way. real quickly before i let you go, when does this take effect, in july 1st, i believe, or sometime in july. this summer it takes effect. we could see some firms break away before that, there are some firms already negotiating fees. i got an email today from one in austin, texas, saying we're doing exactly what you're what you're saying. we're going to offer a menu of services, charge different fees for different services. so you might see some action soon. but the real estate industry is a little bit stubborn. it's going to take a while before we see any big changes. all right. >> big news today. if you're thinking of buying or selling your home this year. norm miller, professor emeritus at uc san diego. thank you so much, actually, it's the univ

coming up, speaking to the ceo of redfin. ♪ when you automate sales tax with avalara, you don't haverry about things like changing tax rates or filing returns. avalarahhh ahhh not all caitlin clarks are the same. caitlin clark. city planner. avalarahhh just like not all internet providers are the same. don't settle. you want fast. get fast. you want reliable. get reliable. you want powerful. get powerful. get real deal speed, reliability and power with xfinity. she shoots from here? that's kinda my thing. hi, i'm kevin, and i've lost 152 pounds on golo. (uplifting music) my biggest concern when i started golo was food. i'm a big guy and, shockingly, i like to eat. i was worried it was gonna be like other diets that were bland and restrictive. but with golo, my meals are great, and i'm no longer hungry like i was before. i'm so pleased i gave golo a shot. don't wait, go to golo.com. katie: u.s. mortgage applications fell .7% last week according to the mortgage bankers association as high rates keep the buyers away. for more we are joined by abigail doolittle. abigail: this shows us th

redfin has a lower standard commission, and that's how they market themselves. glen kelly man, the ceo of redfin, said he thought this was great because they had always argued for lower commissions. again it becomes the issue of the buyer's agent. if they're not being paid by the seller's agent, would a buyer opt ton use a buyer's agent and that can be hard for first-time bayers or veterans -- buyers or veterans or people who don't have a lot of money to negotiate with. they might need the buyer's agent but don't want to pay for it. >> that is interesting, the permu permutations. reminds me of the underwritings fees for going forward and you only take your company public once, you want to nickel and dime? i don't know. we'll see in that aplieds to houses, as well. thank you so much. >>> ahead, the energy sector wrapping up a strong week. keel drill down that pop and a big move in crude oil coming up. >>> as we head out, a quick message, cnbc celebrates women's history month. >> as someone who is a change-maker, it means someone who's pushing the boundaries of in

on another note, however, major development this morning, so redfin announced they have expanded pay splits as i high as 70%. they will cover almost all your business expenses. that is what it comes down to. the brokers will have to fork over more money. overall confusion and frustration continue to reign. there is no prompts other people are talking about except my next guest is flagging. dw housing economic analyst aim any nixon. amy, initial thoughts just how poorly the national association of realtors managed this whole thing? >> it's been a mess, charles. this has been going on for months and months and this is not a good look for the industry and it is not good for realtors because essentially real estate agents are the ones who will get hurt by this and to me the biggest implication of this judgment is it is moving us forward towards what i have always considered to be the amazonification of u.s. residential housing. we'll make transaction costs lower. but what that does make it easier for people to buy at scale. and guess who buys at scale? not families. investors and institu

. >>> a real estate reality check, a key ruling sending property stocks like zillow, and redfin droppingday's session. the trade straight ahead. >>> later, courting new bettors as march madness kicks off. we'll dive into the surge in female fan engagement which games are gettinthe stg mo attention. we're "fast money" right after this. go. and go and go and go. (tense music) but what if you. (tense music) stop! you work hard. it's time for a bank that'll work hard for you. everbank performance savings is built to put your money to work with some of the highest rates in the country. going, that's what got you where you want to be. we're the partners for your next move. everbank. advantage, you. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. >>> welcome back to "fast money." we have a market flash on hashicorp. shares jumpi

a new report from redfin shows home prices grew about 0.6% last month in line with monthly gains in the years leading up to the pandemic. economists say it was normal to grow .5% every month. this market is different, the average home is not affordable for most potential buyers. that's because inventory has improved in recent years, but not enough to meet the demand, mortgage rates are still very high and that is keeping transactions at recessionary lows. >>> starting this summer it will cost more to drive across the bay area's most iconic bridge. a live look at the golden gate bridge with a price to cross jumping by $.50 on july 1 and more hikes are on the way with the board governing the bridge voting on friday to approve the toll increases. it will raise tolls by $.50 per year over the next five years. bridge officials say it is necessary to ease a budget shortfall. this comes after ridership dropped during the pandemic now forcing the board to raise the tolls. >> unlike many other transit agencies, we are funded by bridge tolls. golden gate bridge and the ferry and transit do not re

según un nuevo análisis de redfin, los precios de la vivienda en estados unidos aumentaron un 6% respectote como para satisfacer la demanda y ante la confusión generada por un acuerdo en el pago para los agentes inmobiliarios cuando venden una propiedad, lo que se hacía hasta ahora de ese porcentaje que se les otorgaba de base. la asociación nacional de agentes inmobiliarios indicó que el comprador es ahora quien deberá pagar la comisión del agente, pero según el organismo les da más posibilidades de negociar. cuánto es lo que van a pagar antes de firmar una medida que, según los asesores en ventas de viviendas, pues los va a perjudicar. y en dallas un grupo de médicos busca cómo hacer para que las personas se recuperen más rápido de las conmociones cerebrales. se trata del uso de tratamientos con oxígeno hiper ovárico con el cual podría aumentar la cantidad de oxígeno en el cuerpo. un método que se utiliza para cierto tipo de lesiones, heridas y también infecciones. la intención de de este estudio o la finalidad es evaluar el uso de la oxigenación y hiperbárica en pacientes con síndrome

el precio medio en estados unidos es de unos 413.000 , según datos de redfin y 2 mercados públicos dela nivel nacional sobre los mejores mercados públicos en la nación y el primer lugar se lo lleva el mercado. usa esto es en cleveland. esta encuesta dura un mes y terminará el 15 de abril. nos relajamos y ahora hablamos del cantante de música mexicana pepe aguilar, que se está preparando para su gira nacional junto a sus hijos Ángela y leonardo. nos cuenta que se puede esperar y sabe hasta cuánto dinero se puede generar de una gira exitosa. bueno, pues escúchelo. fernando hurtado tiene el reporte. todo sigue igual. te soy sincero pepe aguilar quiere poner el nombre de méxico en alto. así explica la meta de su nueva gira, el cantante de regional mexicano, la gira jaripeo hasta los huesos llegará a 18 ciudades en estados unidos, empezando el 29 de marzo y a cargo de la producción está el mismo pepe aguilar, quienes dueño de su propio sello discográfico, machine records, jaripeo hasta los huesos, contará con temática de día de muertos. más de 400 pies de pantallas led y hasta inteligencia

i see compass is down and redfin down fractional ly right now. how does this impact the business?is is dealing with the brokerages under the $2 billion mark. this is for the smaller guys and also for nar, national association of realtors, which is our trade organization. it is not a legislative arm. that is said to answer the other part of the question about buyers. this would potentially put the onus of carrying a 2% to 3% commission on the part of pewpewer buyers. all of the headwinds they have faced and you cannot take a loan out to pay for that commission. it has to be out of cash. >> out of pocket for a first-time buyer. i understand. >> correct. >> i want to ask about sellers. what do you see as the potential impact of sellers? one thing in the lawsuit is steering. an agent will tell you unless you offer the commission to the buyer's agent, they will steer customers over to other listings. what happens to sellers assuming the settlement goes through? >> i don't think that much is changing. that is my big take here. i think the seller will continue to pay commissions because

the redfin ceo is next. ♪ ♪ as a fiduciary, i promise to put your interests first, always.ship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com (vo) sail through the heart of historic cities and unforgettable scenery with viking. unpack once, and get closer to iconic landmarks, local life, and cultural treasures. because when you experience europe on a viking longship, you'll spend less time getting there and more time being there. viking. exploring the world in comfort. (inspirational music) - [narrator] wounded warrior project helps post-9/11 veterans realize what's possible. with generous community support. - aaron, how you doing buddy? - [narrator] we bring warriors together and empower them to become stronger inside and out. - it's possible to begin healing - to get the help you need.

. >> people want to tour homes listed by remax, redfin.ers agent will have to talk to the buyer about what fee she will charge, and then that fee may be included in the offer, where the seller can say i'm not willing to pay that fee. that's coming out of my pocket. so therefore, just like any other term, the inspection, the price, when it closes, the buyers agent fee is up for grabs. that hasn't happened in my nearly 20 years in real estate. >> do you think this will lower home prices? >> i heard you say that, but i don't think so. i think the seller is always trying to get as much as they can. so my guess is that it will be what the market can bear, and the seller just gets to keep more of that money. >> okay. glenn, thanks so much for joining us. tyler, back to you. >> thank you very much. >>> it was also a big week for the builders, both the xhb home builder etf. lennar unable to hold on to gains, though, down more than 4% from the week. we'll get results from kb homes on the 20th. our next guest is bullish on the setup for builders. jo

that's according to new data from the real estate company redfin.buyers must now earn at least $76,000 a year to afford a house. four years ago only needed to earn less than $41,000. the average full-time worker only earns about 66 by the way thousand dollars a year. the major league baseball opening day exciting one. tyler o'neil makes history with fifth consecutive opening day home run as the are red sox stops the mariners. feel east coast bias. i'm going to tell you about the yankees. new york star juan soto making incredible saving throw to help the yankees beat the astros 45-4. here we go. technically it's early in the central time zone. texas rangers going crazy after beating the cubs in extra innings and revealing also their 2023 world series banner. thank you, lawrence. i got speak by the way to rangers executive vice president the voice of the rangers choice maury yesterday after the game -- before the game. >> this has been a long time coming in texas. >> a long time coming after he said after that last out this is not a dream. tonight we

but economists at redfin& available, renters can expectúa break as landlords lower rates.articularly out of big cities, during the pandemic. united airlines is predicting this year will be its busiest spring break ever. the company says most travelers will not be deterred by rising travel costs. united expects to fly 21 million passengers between this friday and april 21st.úthat would be a 10% increase from last year. the air carrier expects march 22nd to be the busiest day of the season. economists say offers from low cost carriers, in particular, are driving overall demand for consumers looking to get away for spring break. >> a first grader at shabo elementary home national and social and local titles for her abilities on the stage. we first spoke back in january, when she wont- first place in the national frederick douglass oratorical contest. she then had a chance to give her speech in washington, d.c. where she met senator amy klobuchar at nationl historic house. selma and her parents also got a tour of the white house, sponsored by east bay congresswoman barbara lee

there is a minor bounce happening, so with news out of redfin this morning, take a look at this, theme needs to earn $114,000 to afford it but that is 35% more than what the typical american earnings. there are 30,000 in the hole to buy that house. meanwhile, the median monthly payment is $2800, a little more than that, down from 3,000. still 74% you higher than 2021. we're still in that hole. many are griping that is more than mortgage rates. the wealthy control a large chunk of real estate, the bottom 50%, take a look at that, the bottom 50% have little more than this amount here. in addition to the wealthy, hedge funds and foreign buyers, companies are globalling up homes to lease them out, including invitation homes. you may have seen this chart, right? that stock peaked in early 2022. now with existing homeowners locked into low mortgages the big winner has been homebuilders but they are being forced to offer more goodies these days. bottom line? this crisis continues to linger and more people, especially young adult resistive abouting up on the american dream. i hope it turns a

we saw redfin on friday they will redo their structure, their commission structure but where do you seehis taking the industry? >> i think this is much bigger deal than most people realize, charles. real estate is 20% of gdp so this is a big issue. if you look at the industry of wealth management, asset management, in the '90s, 250 bucks to buy 100 shares of microsoft this is an industry ripe for disruption. it hasn't happened. i'm one of the biggest free market capitalists out there. just because it is the private sector, just because it is sro, like the national association of realtors doesn't mean they have been playing fair. the truth is they haven't. this is opportunity for pricing to change, val to change. realrealtores that provide value do a good job will do great. ones that just show up to a house, earn 6% commission, those daves are over. it will change significantly. charles: draftkings is a name you gave us last month. ohtani is embroiled in the massive gambling schedule. we'll see how it shakes out. a lot of people with worried about the role of gambling particularly in bas

economists at redfin says renters can expect a break as landlords lower rates thanks to more availablergely due to high mortgage costs, but those rents thanks to many newly built and empty properties. economist say triggered by some americans relocating during the pandemic. a first grader at chabot elementary school in oakland is taking home national and local titles as age group, delivering speeches now, we highlighted oakland's six year oldc selma white, back in january, when she won first place in the national frederick douglass oratorical contest. she then had a chance to give her speech in washington, dc, where she met senator amy klobuchar at the frederick douglass national historic house. selma and her parents got a tour of the white house, sponsored by congresswoman barbara lee. hey i will be sharing part of martin luther king nobel peace prize and acceptance speech. >> i accept the nobel prize for peace at a moment. when 22 million negroes of united states of america are engaged in a creative battle to end the war lines of racial injustice. >> that's incredible. there are& man

but then you get these redfin numbers out of february where median asking rent had its biggest monthlyn a year. i wonder whether you think that has the potential to stall out as well? >> short answer is i don't know, carl, but fundamentally, i think the market and the fed underst understands the o.e.r. and recognize it's hugely lagging and i think they will be comforted by what happened today. no guarantee what's going to happen next month. but i think fundamentally we need to come back through the proposition that they want to head towards 2, but they don't need to get a whole lot closer to 2 and fed chair powell has said this. they don't need to get a lot closer to 2 to start the easing process. i think it's a done deal and we'll bounce around in the marketplace as we are today, but fundamentally, we are -- have a destiny of an easing process later this year and this doesn't change this in the margin and probably reinforces it because of the crack in o.e.r. >> well, it seems like the market is agreeing with you. the major indices significantly higher throughout the session. paul, app

rentst& reached record highs last year, largely due to high mortgage costs, but economists at redfinal surge in people relocating, particularly out of big cities, during the pandemic, and warner brothers discovery max is the latest streaming service to crack down accounts outside their household . macs has not set a date for when the. crackdown will begin, but company officials say they're working on a plan for later this year. we're also keeping an eye on that social media outlet outage that is affecting meta instagram and threads. meta says it is aware of that outage. it's working on it. no word on what is causing the problem,úbut it does appear that websites areústarting to come back online. we'll keep you posted on that. i'm pam cook, that's a look at your dollars and cents pam. >> thanks. a new feature being rolled out on the site, formerly known as twitter, has some people concerned about privacy. x users now have the ability to make audio and video calls. the platform says you can receive a call from a county follow, and if you want to make a call, the person you're trying to