Redfin would have six months after the order becomes final to relaunch the operation. Zillow’s rental listings would still appear across Redfin, Rent.com and ApartmentGuide.com, allowing the companies’ syndication relationship to continue while Redfin resumes competing for multifamily advertising customers.

Why the FTC challenged the Zillow-Redfin deal

Zillow and Redfin announced their rental partnership in February 2025. Under the agreement, Zillow became the exclusive provider of multifamily rental listings for properties with 25 or more units across Redfin’s rental sites.

Regulators later alleged that the deal went beyond listing syndication. According to the FTC’s complaint, Zillow paid Redfin $100 million while Redfin agreed to wind down its multifamily advertising contracts, help transition customers to Zillow and stay out of the internet listing services, or ILS, advertising market for up to nine years.

Redfin also restructured its rentals operation after signing the agreement. The company said in an SEC filing that approximately 450 rental employees would be affected.

Zillow and Redfin have disputed regulators’ characterization of the agreement. The companies have maintained that wider syndication increased the rental inventory available to consumers while giving property marketers broader distribution.

What the proposed settlement requires

The proposed 10-year order would remove restrictions that limited Redfin’s ability to sell its own multifamily advertising products. Redfin would have to rebuild the technology needed to accept customer listings, hire a general manager along with sales and support staff, market the service and invest millions of dollars in the operation.

Zillow would also have to remove certain hiring restrictions and could not interfere with Redfin’s efforts to recruit employees or win multifamily advertising customers. For nine months after Redfin relaunches, Zillow would have to let ILS customers whose contracts cannot be canceled within three months renegotiate those agreements without additional fees or penalties.

The settlement would not end the companies’ existing relationship. Redfin, now part of Rocket Companies, said Zillow will continue providing multifamily listings and paying for renter leads through at least 2030. The companies also plan to offer separate multifamily advertising products beginning in 2027.

What changes for rental advertisers

Redfin is not yet operating the rebuilt advertising business. Its six-month deadline begins only after the order becomes final, and the FTC continued to list the case as pending as of Aug. 28.

Multifamily advertisers using Zillow should check whether their contracts can be canceled within three months. That provision determines whether they could qualify for the proposed nine-month renegotiation window after Redfin returns to the market.

Agents and brokerage leaders working with multifamily owners or rental marketers have the clearest direct exposure. The case also adds to scrutiny around how major real estate platforms distribute listings and compete for advertising business, an issue that has surfaced in other recent listing-access disputes.

For now, Zillow’s syndication across Redfin’s rental sites continues. If the order becomes final, Redfin will have to compete for multifamily advertising customers again while continuing to carry Zillow listings.

The post Zillow-Redfin FTC Settlement Would Require Redfin to Rebuild Rental Ad Business appeared first on The Close.

The basic version is included with a OneKey MLS subscription and works alongside Matrix rather than replacing it. Agents still need to review pre-populated data, generated remarks and other listing content before publication, and listings remain subject to OneKey’s compliance checks after they go live.

What Ocusell List does

Ocusell List provides an alternative interface for creating, editing, validating and publishing listings to OneKey MLS. The platform can automatically populate up to 70% of a listing using more than 60 data sources.

Agents can upload and arrange photos, use AI-assisted photo ordering and generate Public Remarks from uploaded listing images. The rollout follows other AI tools moving deeper into MLS-based agent workflows. Existing active Matrix listings can also be imported into Ocusell without creating a duplicate.

Ocusell’s validation tools flag missing or invalid required information before publication. Agents must also accept a media-rights acknowledgment covering uploaded listing media before publishing.

OneKey brings Ocusell to 42,000-plus subscribers

OneKey and Ocusell announced their partnership in April 2025, but the subscriber-facing List product did not arrive until Aug. 18. Members can now launch Ocusell from the MLS Products section of their OneKey dashboard.

OneKey serves more than 42,000 real estate professionals across Long Island, New York City and the Hudson Valley. The rollout puts Ocusell’s listing-entry tools directly into the workflow of agents, teams and brokerages using one of the country’s larger MLS systems.

What agents still need to verify

When Ocusell recognizes a property address, it may populate information from available public records. Agents are instructed to review that information for accuracy before continuing. AI-generated Public Remarks should also be reviewed and edited before publication to ensure they are accurate and comply with OneKey MLS rules.

Passing Ocusell’s Validate & Proceed step does not mean a listing has passed MLS compliance review. Listings entered through Ocusell remain subject to the same rules and Listing Data Checker requirements as those entered through Matrix.

The Listing Data Checker scans listings for potential rule violations and sends notifications when issues are detected. Some violations are immediately fineable. OneKey prohibits offers of brokerage compensation in listing fields, photos, attachments or supplements.

What this means for brokerages

For brokerages, Ocusell can change how listings are assembled without eliminating the review steps required before publication. Brokerages can assign responsibility for checking source documents and generated remarks before publication, then designate who handles compliance notifications once a listing is live.

Agents should also account for synchronization delays. Newly published Ocusell listings generally appear in OneKey MLS within 10 minutes or less. Later changes made in Ocusell typically appear in Matrix within about five minutes, while edits made directly in Matrix may take roughly 30 minutes to appear in Ocusell.

Ocusell can fill fields, organize photos, draft remarks and flag missing information, but agents still have to review listings before publication and respond to compliance issues afterward. Faster listing entry does not eliminate the checks required before or after a listing goes live.

The post OneKey MLS Launches Ocusell List — What Agents Need to Verify appeared first on The Close.

The rollout comes as MLS organizations are spelling out how listing data can be used by AI systems. National IDX rules govern how participating brokers display listings, while additional AI-related permissions can depend on local MLS policies and licensing agreements.

What the Phantom apps do

The client app gives buyers an agent-branded place to search live MLS listings, save properties with a partner, request showings, and ask Sarah questions about homes or neighborhoods. Buyers can also request a home valuation, which is routed to their agent as a potential seller lead.

The agent app brings PRE’s CRM and MLS tools to mobile, including listing search and sharing, saved searches, client-activity tracking, and CMAs based on comparable sales and market data. Sarah also monitors engagement, flags contacts based on activity, and generates suggested follow-up messages. Ghostly Labs says PRE runs on WordPress and is designed so customers retain control of their site and data.

What the company’s early results show

When Ghostly Labs introduced Phantom Realty Engine in July, it also released performance figures from an earlier deployment of Sarah. The company said the system worked through more than 15,000 cold leads and moved 49.5% into its “engaged” category. More than 1,400 were classified as active buyers, while average time on site increased 6.4-fold. The figures are company-reported, predate the mobile apps, and use Ghostly Labs’ own definitions of “engaged” leads and “active buyers,” rather than signed contracts or closed transactions.

How MLS rules apply to real estate AI

Under NAR’s IDX policy, participating brokers may display authorized listings through websites and mobile apps. The policy also limits data supplied through IDX to IDX display purposes. Other uses can fall under different MLS data permissions and local licensing terms.

Milwaukee’s Metro MLS recently adopted a more specific AI policy. Its rules require express written permission before MLS data can be used for AI training, machine learning, derivative datasets, or certain predictive and generative processing, according to NAR’s July coverage of the policy.

Approaches to AI access to MLS data are already varying by market. Doorify MLS in North Carolina has focused its updated data agreement on defining prohibited uses, particularly around consumer data and privacy, rather than limiting AI to a narrow list of approved applications, CEO Matt Fowler told Real Estate News.

What the rules mean for brokers

Brokers using PRE or similar tools need to know what their MLS permits the software to do with listing data, how client-facing AI responses are supervised, and how brokerage and client data is handled. State requirements and brokerage policies may add another layer of restrictions. For PRE, availability alone does not mean every AI-enabled function will operate under identical rules in every market. The applicable permissions can change with the MLS and the way its data is being used.

The post Phantom Realty Engine Launches Agent, Buyer AI Apps as MLS Data Rules Shift appeared first on The Close.

For this guide, I reviewed and compared multiple platforms based on screening features, pricing, ease of use, customer support, and real user feedback. The tools on this list are designed to help you protect your investment, streamline your workflow, and confidently choose tenants who will pay on time and take care of your property.

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The Close’s top picks for tenant screening services for landlords

TurboTenant: Best for free landlord tools

Pros

• Free plan available
• Rental listings, applications, rent collection, and maintenance requests included
• National criminal background and sex offender screening included in reports

Cons

• Lease agreements require a paid plan
• Phone support is only available to paid-plan landlord subscribers
• No dedicated renter risk score disclosed

The Close Score

4.9

Pricing

4.0

General Features

5.0

Advanced Features

2.8

Ease of use

5.0

Help & support

4.0

Customer Rating

4.3

Expert Score

4.1

out
of

5

Pricing

• Free plan
• Essentials plan: $12.42 per month, billed annually
• Pro: $16.58 per month, billed annually

Why I chose TurboTenant

TurboTenant is my top pick because it gives landlords a strong mix of tenant screening and rental management tools without making the process feel overly complicated. You can create rental listings, accept applications, request screening reports, collect rent, manage maintenance requests, and communicate with tenants from one platform.

I especially like TurboTenant for independent landlords who want more than a basic screening report. Its reports include credit, eviction, criminal background, income, identity, and fraud-related screening details, while the platform also supports online applications, tenant communication, rent payments, and maintenance tracking. That makes it a strong all-around option for landlords who want to screen renters and manage the rental relationship in one place.

Additional features

• Rental marketing: Create rental listings and market vacancies across supported rental listing sites.
• Maintenance requests: Tenants can submit maintenance requests, and landlords can manage repairs through the platform.

RentSpree: Best for agent-friendly tenant screening

Pros

• Easy screening workflow for agents and landlords
• Standard screening report includes credit, background, and eviction history
• Comprehensive report adds bank-verified income and reference checks

Cons

• Maintenance requests are not clearly offered
• No native mobile app
• Lease tools are more limited than full property management platforms

The Close Score

4.8

Pricing

5.0

General Features

4.3

Advanced Features

2.4

Ease of use

4.5

Help & support

4.5

Customer Rating

4.2

Expert Score

4.5

out
of

5

Pricing

• Basic free plan
• Landlord PRO: $6.99 per month, billed annually
• RentSpree PRO: $15.83 per month, billed annually
• Standard screening report: $39.99 per report
• Comprehensive screening report: $49.99 per report

Why I chose RentSpree

RentSpree is a great fit for agents and landlords who want a simple, professional tenant screening workflow. It is easy to send to applicants, easy for renters to complete, and easy for landlords or agents to review. The platform keeps the screening process focused, which is helpful when you do not need a full property management system.

I like RentSpree for agents because it supports the rental application process without adding unnecessary operational tools. It offers credit, background, and eviction reports, plus a more comprehensive screening option with income verification and reference checks. RentSpree also includes rental applications, listing syndication, online rent collection, and lease upload with e-signatures on select plans, making it especially useful for agents who help rental clients but do not want to manage every part of the landlord workflow.

Additional features

• ApplyLink: Share one application link so renters can apply and submit screening information.
• Income verification: Review bank-verified income through RentSpree’s comprehensive screening option.

RentRedi: Best for mobile tenant screening

Pros

• Mobile app for landlords and tenants
• TransUnion with ResidentScore
• Includes rent collection, maintenance requests, applications, and listing tools

Cons

• No free plan
• No traditional free trial clearly listed
• Screening costs are separate from the monthly subscription

The Close Score

4.3

Pricing

1.5

General Features

5.0

Advanced Features

2.5

Ease of use

5.0

Help & support

5.0

Customer Rating

4.1

Expert Score

5.0

out
of

5

Pricing

• Track: Free plan
• Start: $5 per month
• Grow: $12 per month (billed annually)
• Pro: Contact for pricing

Why I chose RentRedi

RentRedi is a strong option for landlords who want to manage tenant screening and rental operations from their phone. Its mobile app experience is one of its biggest strengths, especially for landlords who need to review applications, request screening, collect rent, handle maintenance, and communicate with tenants while on the go.

RentRedi’s tenant screening is powered by TransUnion and includes ResidentScore, credit reporting, eviction history, and criminal background screening. Landlords can also add income and asset verification via Plaid, which gives them greater confidence in reviewing an applicant’s ability to pay. Beyond screening, RentRedi includes rental listings, applications, rent collection, maintenance requests, tenant communication, and tenant-facing mobile tools.

Additional features

• ResidentScore: Use TransUnion’s rental-specific score to help evaluate applicant risk.
• Plaid income verification: Add income and asset verification to gain more insight into the applicant’s finances.

Avail: Best for automated reference checks

Pros

• Automated landlord reference checks
• Digital leases provided
• Free plan includes listing, applications, screening requests, rent collection, and maintenance tracking

Cons

• No native mobile app
• Individual screening reports are priced separately
• Live chat support is not clearly listed

The Close Score

4.3

Pricing

3.0

General Features

5.0

Advanced Features

2.0

Ease of use

3.5

Help & support

3.0

Customer Rating

4.9

Expert Score

5.0

out
of

5

Pricing

• Unlimited: Free plan
• Unlimited Plus: $9 a month

Why I chose Avail

Avail is a great option for landlords who want tenant screening plus the core tools needed to manage a rental. The platform includes rental listings, applications, screening requests, state-specific leases, online rent collection, maintenance tracking, tenant messaging, income and expense tracking, and tenant portal access.

What sets Avail apart is its automated reference check feature. When applicants complete the rental application, Avail can help collect information from previous landlords and employers, giving landlords more context beyond a credit report or background check. Avail also offers TransUnion credit, criminal, and eviction reports, which help landlords build a more complete applicant profile before making a decision.

Additional features

• Lawyer-reviewed leases: Access state-specific lease templates with disclosures, clauses, attachments, and digital signing.
• Rent analysis: Review local rent comps and market data to help set a competitive rental price.

Baselane: Best for rental property investors

Pros

• Free landlord plan available
• Strong rent collection, banking, and bookkeeping tools
• Tenant screening starts at a lower price than several competitors

Cons

• No rental listing management
• No lease generation
• No maintenance request management

The Close Score

3.3

Pricing

4.0

General Features

2.0

Advanced Features

0.5

Ease of use

5.0

Help & support

2.0

Customer Rating

4.8

Expert Score

3.6

out
of

5

Pricing

• Core: Free plan
• Smart: $20 per month

Why I chose Baselane

Baselane is the best choice first for rental property investors who want tenant screening integrated with the financial side of their rental business. It is not trying to be a full property management platform. Instead, its strength is helping landlords collect rent, manage banking, track income and expenses, organize bookkeeping, and understand property-level performance.

Baselane offers tenant screening with a rental application, ID verification, and an Equifax credit report. Applicants can also add criminal, eviction, and income verification reports. I like Baselane for investors because screening is part of a broader financial workflow. Once a tenant is approved, landlords can use Baselane to collect rent, separate property finances, track cash flow, and prepare cleaner records for taxes and investment decisions.

Additional features

• Baselane banking: Create property-specific accounts to separate rental income, expenses, and reserves.
• Auto-tagging: Automatically categorize transactions to simplify bookkeeping and reporting.

TransUnion SmartMove: Best for dedicated tenant screening reports

Pros

• Dedicated tenant screening service from TransUnion
• No subscription required
• Includes ResidentScore on all screening packages

Cons

• Not a full property management platform
• No rental listings, rent collection, leases, or maintenance tools
• Sex offender, judgment/liens, and terrorist alert reporting are not clearly disclosed

The Close Score

3.2

Pricing

2.5

General Features

0.9

Advanced Features

2.8

Ease of use

3.8

Help & support

3.0

Customer Rating

4.1

Expert Score

3.8

out
of

5

Pricing

• SmartCheck Basic: $25 per month
• SmartCheck Plus: $40 per month
• SmartCheck Premium: $48 per month

Why I chose TransUnion SmartMove

TransUnion SmartMove is the best option on this list for landlords seeking a dedicated tenant-screening service rather than full property management software. It keeps the process simple: landlords select a screening package, invite the applicant, and receive reports after the applicant completes authorization.

SmartMove is backed by TransUnion. It includes ResidentScore, criminal background reports, credit reporting in select packages, eviction-related reporting in select packages, Income Insights in its higher-tier package, and an Identity Check Report in its most complete package. It is a strong fit for landlords who already have a rental management workflow and only need a reliable screening tool.

Additional features

• ResidentScore: Use TransUnion’s rental-specific score to evaluate applicant risk.
• Identity check report: Access identity-related checks, including SSN, address name, date of birth, and deceased person alerts on the highest-tier package.

Frequently asked questions (FAQs)

Methodology

Our expert researchers, agents, writers, and editors at The Close researched and reviewed dozens of tenant screening services for landlords. I chose the top six based on pricing structure, features, and reviews. 

Other factors I examined to evaluate the best commercial tenant screening services include the following:

• Pricing (20%)
  • I evaluated the cost of each platform, the price of each subscription package, the value of the features provided, and whether it offers a free trial.
• General Features (20%)
  • Based on various tenant-screening features offered to help landlords and property managers list and market properties, screen tenants, generate leases and reports, and track financials.
• Advanced Features (25%)
  • Based on various tenant communication features offered that help landlords and property managers to engage and connect with their tenants.
• Ease of Use (10%)
  • Based on how easy it is to navigate the provider interface and if it provides hassle-free transactions and communication between property owners and tenants.
• Help & Support (5%)
  • I looked into the convenience and attainability of customer service for technical support, onboarding, and training.
• Customer Rating (10%)
  • Based on customer feedback for each platform, with particular attention to product reviews and provider popularity, to certify that the software meets user satisfaction.
• Expert Score (10%)
  • Expertise in the field and firsthand experience with the providers allow us to evaluate the standout features, value for the money, and ease of use of tenant screening services.

Your take

Choosing the right landlord-tenant screening service can make it much easier to find great renters. My list provides several excellent options for screening and managing your tenants; it ultimately depends on your specific business needs. Use my list to select a platform that best aligns with your requirements and gives your business a competitive edge. 

The post 6 Best Tenant Screening Services for Landlords for 2026 appeared first on The Close.

That gap is pushing some unsuccessful sellers toward the rental market. Rather than accept a larger price cut or replace inexpensive debt, they are keeping their existing mortgage and becoming “accidental landlords” — often without having planned to own rental property.

Why low-rate owners are not selling

Another 28% of outstanding mortgages carried rates between 4% and 6%, putting nearly 78% of existing loans below 6%. A record 41.2% of mortgages were five to seven years old, reflecting the 2019–2021 buying and refinancing wave. Selling may require those owners to replace their existing loan with considerably more expensive financing, even when purchasing a similarly priced home.

FHFA researchers estimated that each percentage-point increase between the market rate and a borrower’s original rate reduced the probability of a sale by 18.1%. A relocation, divorce, job change, or growing family may still make moving unavoidable. Renting allows the owner to relocate without immediately surrendering the existing mortgage.

How failed listings become rentals

A March analysis of rental listings found that 2.3% of homes offered for rent had previously been listed for sale. Only one month in the study’s nearly six-year record had a higher national share.

The data run through October 2025 because sale and rental records take time to confirm. Researchers counted properties marketed for sale for at least two weeks, removed without a recorded sale, and listed for rent within three months.

Mortgage rates are not the only factor. Equity, asking-price expectations, buyer demand, and achievable rent also shape the decision.

Owners with substantial equity and low monthly payments may have more room to reject a discounted offer. Leasing can postpone the sale, but rent must still cover vacancies, repairs, insurance, taxes, association dues, and management costs.

Where rental conversions are rising

The highest accidental-landlord shares appeared in markets where homes were taking longer to sell and buyers had gained negotiating leverage. Denver led at 4.9%, followed by Houston at 4.2%, Austin at 4.1%, and San Antonio at 3.9%. Seven of the 10 highest-share markets were in Texas or Florida.

Detached houses were more likely to shift from the sales market to the rental market. Former for-sale properties accounted for 3.4% of single-family homes listed for rent, compared with 2.2% of townhouses and 1.1% of condos.

For agents, an expired or withdrawn listing may no longer represent a likely relist. The owner may instead be comparing a lower sale price with the costs and obligations of operating a rental.

Run the rent-versus-sell numbers first

A seller may need both scenarios when the owner has a low mortgage rate, a clear reason to move, and enough potential rent to justify a full cash-flow analysis. Before the appointment, agents can estimate market rent, review comparable sales, and calculate likely proceeds at several list prices. The rental scenario should include:

• Mortgage principal and interest
• Property taxes and insurance
• Association dues
• Vacancy and repair reserves
• Leasing and property management expenses

Agents should also ask about the owner’s remaining loan balance, expected holding period, available reserves, and willingness to manage tenants or hire a professional. Agents can frame the comparison, but clients should take tax questions to a CPA, coverage questions to an insurance professional, legal requirements to an attorney, and operating questions to a property manager.

Before advising a seller, compare likely sale proceeds, realistic net rental income, the replacement mortgage payment, and available reserves. The numbers may support a rental conversion — or show that leasing would only postpone a price adjustment and add the obligations of becoming a landlord.

The post Mortgage Lock-In Is Sending More Unsold Homes to the Rental Market appeared first on The Close.

Massachusetts is part of a wider state-level push to allow more housing on land traditionally reserved for single-family homes. Similar reforms in other states have expanded duplex, ADU, and small-scale multifamily rights while leaving site constraints and project feasibility to be evaluated property by property.

The Senate plan would open residential lots to duplexes

The duplex provision appears in S.3178, the Senate’s substitute text for the House bill. It would prevent municipalities from banning one duplex on a qualifying residential lot or requiring a special permit solely because the project contains two dwelling units.

The proposal defines a duplex broadly. The two units could be attached, semi-detached, or located in separate buildings on the same parcel.

Projects would still face site-plan, dimensional, building, environmental, and septic requirements. Local rules could not be more restrictive for duplexes than for single-family homes or make duplex construction physically or financially infeasible.

A parcel could therefore qualify for duplex use under state law and still be difficult or impossible to develop. Lot dimensions, wetlands, frontage, sewer access, septic capacity, historic-district rules, and private deed restrictions could limit a project.

Agents should not market a property as “duplex-ready” based on the Senate vote alone. Any claim about development potential should be supported by local records and review by the appropriate legal, engineering, and planning professionals.

Existing ADU rights could expand the unit count

Massachusetts already permits qualifying accessory dwelling units by right in single-family zoning districts covered by the Massachusetts Zoning Act. Boston is not covered by that state framework but has its own by-right ADU ordinance.

Under the state’s ADU requirements, an accessory unit generally cannot exceed 900 square feet or half the gross floor area of the principal dwelling, whichever is smaller. The statewide rules took effect on February 2, 2025.

The duplex proposal would create a separate right involving two principal dwelling units. Some housing observers have said the proposal could be combined with existing ADU protections to allow three units on certain residential lots. Whether three units would be permitted may depend on the final bill, state guidance, local implementation, and the property itself.

A zoning right does not make every lot buildable

Before discussing a property’s development potential, agents should pull the available zoning and parcel records. Start with the zoning classification and confirm whether single-family use is allowed by right. Then check lot area, frontage, setbacks, lot coverage, height restrictions, parking rules, utility access, wetlands, flood zones, and any historic or design-review overlays.

Properties without public sewer service require additional scrutiny. Septic capacity can determine whether another unit is feasible and should be evaluated by a licensed engineer or other qualified professional. Clients whose purchase depends on possible duplex rights should consult land-use counsel before closing; by-right zoning would not guarantee site approval or a viable project.

The House could still rewrite the proposal

The proposal is part of a wider effort to increase housing production. Massachusetts’ housing plan calls for at least 222,000 additional homes between 2025 and 2035. The state reported in June 2026 that 34,561 net homes were added in 2025.

Supporters argue that duplexes could add smaller-scale housing in areas where larger apartment developments may be difficult to approve. The Massachusetts Municipal Association and other opponents have raised concerns about infrastructure and the loss of local planning authority.

Those disagreements may shape negotiations with the House. Until both chambers approve the same language, statewide duplex zoning remains a proposal. For agents in any market facing similar reforms, proposed development rights should not enter listing copy, pricing assumptions, or investment projections until the law and the parcel have both been verified.

The post Massachusetts Senate Backs Duplexes on Residential Lots appeared first on The Close.

For brokers, understanding what agents truly value has become increasingly important in a competitive recruiting environment. Offering the right mix of services and support can attract and retain productive agents while creating opportunities to justify higher splits, fees, or company standards. However, it’s important to strike the right balance. One of the biggest mistakes smaller brokerages make is trying to offer too many services too quickly, which can create unnecessary costs and operational strain.

In this article, I’ll break down the services modern brokerages offer, explain the value of each, and provide estimated costs to help you determine which investments make the most sense for your business. Whether you’re building a new brokerage, recruiting more agents, or expanding your current offerings, understanding what agents are actually looking for can help you make smarter decisions as you grow.

Buyer & seller leads

In an agent’s world, prospecting is the name of the game. They’re hungry for leads, and as more companies provide them, that appetite seems to grow. Keep in mind that when brokers supply their agents with leads, everyone wins. With more leads to work, your agents should close more deals—and add money to your brokerage’s pocket. 

The game has changed nowadays, making leads more accessible (as long as brokers are willing to pay). However, the benefit of buying these leads directly is that you can also save money on marketing—just cut out the advertising middleman and buy the leads directly from a platform like zBuyer.

Of course, it’s not as cut-and-dry as all that. Providing your agents with leads means that you’ll need to budget for them. You’ll also need to hold your agents accountable for the leads you provide—that’s a fine line to balance. By offering leads, you may be attracting more junior agents with less experience who may need more coaching and education. This balance is important in keeping your brokerage alive with seasoned professionals as well as the fresh new agents.

Why smart brokers provide leads

Your return on investment (ROI) on providing leads will be directly related to your training and accountability to the agent. Brokerages that do this well can see a three-to-four-times return on their money. Additionally, there are a lot of talented agents who just need a little momentum in their business, which brokerage-supplied leads may provide.

Lead generation cost breakdown

Of course, the cost of providing your agents with leads will vary depending on where your brokerage is located. But if you want to provide enough leads to attract and maintain motivated newer agents, then you should expect to spend anywhere from $10,000 to $100,000 per month on leads. Once you throw in a lead manager, you can expect to pay another $45,000 per year for their salary. Let’s review some of the top lead gen companies that brokers should be looking at:

Consistent digital & print marketing

One of the most important lessons learned over my 28-year real estate career is that nothing is more important in an agent’s business than them getting their marketing out consistently. Despite all the systems and tools that are available, more than 80% of agents still fail to follow up with their clients after a sale—not even a postcard!

Brokerage-provided marketing services can include mailing monthly postcards to their sphere of influence (SOI) and farm area as well as helping agents with social media content and creating professional listing and buyer presentations. Your brokerage can provide marketing services through software, outsourcing, or, when you’re large enough, hiring a full-time marketing manager.

Agently offers a full AI marketing suite with thousands of real estate social media templates—including buyers, sellers, video marketing, listing marketing, open houses and much more. It automatically integrates your brand so you spend less time on social media. You can also track your productivity and enhance your communication with your broker. Check them out at the link below.

Visit Agently

Why smart brokerages provide digital & print marketing

If you want to add a service that provides value and measurable returns in both productivity and profits, then taking over your agent’s marketing is the answer. Agent marketing will attract other agents, increase referrals and repeat business from your agents’ SOI, and—best of all—it helps maintain your brokerage’s brand image and standards.

Digital & print marketing benefits vs costs breakdown

Coffee & Contracts is a real estate marketing company that offers thousands of social media templates designed specifically for real estate agents. This includes Instagram Reels, carousels, Broke Agent memes, and more. You’ll get access to fresh content and new options every month as a subscriber. You can get started with $15 off your first month with the promo code THECLOSE.

Visit Coffee & Contracts

Listing preparation & marketing

This is a no-brainer if you’re trying to recruit listing agents. Many high-producing agents are good at lead generation and sales but can fall short when it comes to marketing and managing their listings.

That means you can take a big burden off their plate by offering to handle all the details of listing preparation, like cleaning and staging. You may also help them with marketing tasks like photography, video production, sign installation, MLS input, and promotion.

These services should be outsourced until your real estate brokerage is large enough to support a full-time listing manager. Be sure to negotiate volume discounts with your vendors to keep your expenses within budget. If you’re just dipping your toe into this brokerage service, I recommend looking into providing your agents access to a service like Apply Design, an easy-to-use virtual staging software that charges $7 to $10 per image.

Check Out Apply Design

Why smart brokerages provide listing preparation & marketing services

Of course, these services will allow you to attract the right agents for your brokerage, but there are other benefits you may not be aware of.

Maintain your brand’s image & standards

This way, listing marketing will be up to the standards of your real estate brokerage and in line with your branding. No more cell phone pics, dark and blurry images, or real estate signs printed with the wrong colors or font. Just this by itself will attract image-conscious homesellers.

Listings sell faster & for a higher price

When your marketing is done correctly, you will attract more buyers, too. The more buyers who see your listings, the greater the chance they will sell quickly and for top dollar, and this will make your agents look good!

Higher splits & fees

Believe it or not, many productive and top-producing agents are happy to pay their broker more for the benefit of having all the listing marketing done for them. This provides them with the confidence they need to go after luxury listings and gives them back more time to do what they love—making more sales!

Listing preparation & marketing benefit vs costs breakdown

Transaction management services

If you have a highly accountable group of agents, then any task you can take off their plate will increase their productivity. Simply put: If your agents are chasing paperwork, they are not generating leads. Transaction management is an easy, low-cost way to take some of those red-tape tasks off your agents’ schedules.

Some brokerages choose to offer this as an à la carte service, while others build the cost into their transaction fees and include it with every file.

Why smart brokerages provide transaction management services

Taking over the transaction once it has gone under contract will not only free up your agent’s time, it will also eliminate the challenge of chasing down paperwork from your agents to complete your required brokerage file.

Since you have to pay someone to manage that file, it is easy and inexpensive to add this transaction management service to the list of what your brokerage provides. I’ve done a breakdown of our top transaction management software picks to make the choice as easy as possible.

Transaction management benefits vs cost breakdown

Agent signs & lockboxes (installation, removal & storage)

It may sound simplistic, but providing signs and lockboxes and having them installed, removed, and stored is very enticing to agents. Why? Because what self-respecting agent loves to swing a sledgehammer at a steel sign frame to get it into a frozen lawn? No one, that’s who! Even worse is placing 20 open house signs on busy intersections wearing a black Armani suit in 100-degree weather. Been there—hated it!

Save your agents the pain and embarrassment of having to install listing and open house signs. Let someone else deal with the headache of where to place the lockbox and finagling it onto a metal screen door. Your agents will love you for the simple gesture. To provide this service, you can contract with a local sign company to manage the whole process. The cost is typically $30 to $50 for each install or removal.

Why smart brokerages provide sign & lockbox services

Maintain your brand image & standards

If I had a dollar every time I saw one of my brokerage signs printed in the wrong color or with the wrong font, I could buy the Miami Dolphins! Most agents are not in tune with the importance of maintaining a brand, and if they have the ability to save $10 a sign by having them printed more cheaply, they will. If you include listing and open house signs as part of your services, this will ensure that your brand is always presented with quality.

Promote your brand

If your listing and open house signs are branded to your brokerage, you are also promoting your brokerage—and the best part is you only pay when your agents take a listing or hold an open house.

Signs & lockboxes benefits vs cost breakdown

• Sign installation, removal & storage, $60 per listing
• Lockbox installation, $20 per listing
• Open house sign installation & removal, $50-$100 per open house

Meetings & events

Real estate sales is a social business, and most agents love to socialize. A healthy event calendar will not only increase agent retention, but will make recruiting easier. Real estate can also be a lonely business, and many agents are hungry for connection, especially if they are struggling.

3 types of events successful brokerages host

Team meetings

Believe it or not, team meetings are less about education and information and more about building and maintaining relationships and company culture. Coffee and donuts, or lunch right after your team meeting, can give agents a reason to socialize and bond. It also gives them a reason to show up (besides listening to you or your sales manager talk shop).

Social happy hours

A monthly happy hour at a local brewery or trendy restaurant will make your agents feel like you value them and want to get to know them better. Additionally, these social happy hours are a great opportunity to invite agents from other brokerages to check out your company’s culture.

Client events

Getting in front of your agents’ clients not only builds your brokerage’s brand, but it provides a reason for your agents to reach out to their SOI and past clients. Many busy agents would love to throw customer appreciation events but lack the time or skills to do it. And some agents with small SOIs or client databases fear that they won’t have enough people show up. Why not give them all a helping hand and coordinate the event for them? There’s no need to do them monthly—quarterly or bi-annually will be enough to keep your agents in front of their SOI.

Meetings & events benefits vs costs breakdown

Education & training

Any real estate brokerage that wants to serve agents throughout their careers must provide a full suite of education and training. If they’re not getting it from you, they will get it somewhere else. Plus, keep in mind that your educated agents tend to be more productive and on top of the newest contract changes, leading to less mistakes—in short, your errors and omissions insurance will thank you. 

Begin by thinking about what type of agents you want your brokerage to serve. What phase of their career are they in? What skills and knowledge do they need to be successful in order to push through to the next phase?

If you don’t have time for this rhetorical question, I did some of the thinking for you. Below you’ll find a short list of the phases of an agent’s career, as well as classes that will support them in that phase. 

Types of agents & training smart brokerages offer

Unlicensed prospects

People interested in getting into real estate need access to a real estate school. Many successful brokerages either offer an in-house real estate licensing school or have an affiliation with one, where they refer students in exchange for promoting their brokerage as an affiliation option. So if your business model includes recruiting brand-new agents, getting into prelicensing education is a no-brainer.

New & newer agents

This is where you need a structured training calendar—one that can walk a new licensee through a marketing plan, lead generation strategies, and all the required tasks related to working with buyers and sellers.

Newer agents also need the support of a mentor who they can call to get their urgent questions answered. This ensures that they are doing the right thing and protects your brokerage.

Productive agents

Busy productive agents don’t want to sit in classes week to week. They only want to attend classes that they can directly apply to their business. Productive agents are attracted to business planning, lead generation classes, and continuing education (CE) credit courses that offer knowledge they can use.

Top producers & teams

Top producers and teams are looking for educational opportunities that are geared toward the latest systems, tools, and strategies that help them bring their business to the next level.

Try bringing in coaches, trainers, or top producers from other markets to teach your driven agents. Agents from outside your market area are more likely to share their secrets without the fear of a competitor taking their market share away.

Education & training benefits vs costs breakdown

Office management services

Beyond just printing fliers, holding classes, and running team meetings, you still have to fulfill all the state-mandated managing broker activities, such as agent supervision and file compliance—not to mention all the management tasks that go with running a brokerage, such as financial management, office reception, and recruiting.

While these services may not be on your company brochure, if you wish to have a successful brokerage, they still need to be managed. 

Office management & services benefits vs costs breakdown

Essential software to manage real estate brokerage services

Now that you have decided what services you are going to provide the agents with your real estate brokerage, next look for the software solutions that will help you deliver these services and manage your brokerage.

To keep your expenses low, use software whenever you can. Even though the upfront cost and setup of software can be pricey, it will save you money over the cost of hiring an employee.

For a full list of software solutions to run a real estate brokerage, please check out the article: Real Estate Brokerage Software

Frequently asked questions (FAQs)

It’s a fine balance & further reading

The services you choose to offer will ultimately influence the resources, systems, and staff needed to run your brokerage successfully. As both an agent and someone who has evaluated brokerages from an agent’s perspective, I’ve seen firsthand how important these offerings can be for attracting and retaining talent. However, one of the most common mistakes newer brokerages make is trying to offer every possible service from day one, which can quickly create operational challenges and strain limited resources.

Instead, focus on building a strong foundation and strategically expanding your offerings as your brokerage grows. Many successful brokerages leverage software, third-party vendors, and outsourced solutions to provide agents with valuable support without immediately increasing headcount. This approach allows brokers to deliver a competitive agent experience while maintaining efficiency and controlling costs.

The post 9 Services Smart Brokerages Are Offering to Attract More Agents appeared first on The Close.

The dispute highlights a broader challenge for brokerages nationwide. Written buyer agreements are now routine, but cancellation rights, release procedures, and surviving compensation obligations still vary by contract and state law.

Why buyer cancellation is a national brokerage issue

Since Aug. 17, 2024, an MLS participant working with a buyer has generally needed a written agreement before an in-person or live virtual home tour. Under NAR’s written-agreement policy, the contract must clearly define compensation, prevent the broker from receiving more than the agreed amount, and disclose that commissions are negotiable. Contract length, exclusivity, cancellation rights, and termination fees remain negotiable, subject to state law.

State requirements vary. California generally limits individual-buyer agreements to three months and requires renewals to be separately signed and dated.

Oregon agreements must disclose exclusivity, compensation, both parties’ termination rights, and the supervising principal broker’s contact information. The maximum term is 24 months, including renewals.

Ohio law requires a written agreement before an agent makes a residential purchase offer for a buyer. The agreement must state its expiration date and compensation terms, among other disclosures.

When firing an agent does not end the contract

The Pennsylvania agreement bound the buyers to the brokerage, allowing the broker to offer reassignment instead of a release. Under the state association’s standard buyer agency contract, neither party has an automatic termination right unless one is negotiated.

Ending contact with an agent does not necessarily end the buyer’s contractual compensation obligations. California regulators similarly warn that ending the working relationship may not eliminate what the buyer owes unless the agreement contains an exit clause or the broker provides a release.

Contracts may also include protection periods covering properties introduced before termination. Brokerages should define the period, covered properties, and any surviving compensation obligation in the agreement or release.

What brokerages should audit in their agreements

State-licensed counsel should review brokerage forms and release procedures, especially for multistate firms. The audit should cover:

• Duration and renewal: Use clear beginning and expiration dates. Consider whether long default terms are appropriate for new or portal-generated leads.
• Exclusivity and compensation: Explain when compensation is earned, who may pay it, and whether administrative, retainer, or termination fees apply.
• Exit rights and protection periods: State who may cancel, how notice must be delivered, and which obligations survive termination.
• Broker contacts and escalation: Give buyers a direct route to a managing broker who can review complaints and approve releases or reassignments.

As a risk-management practice, a written release can document the termination date, surviving fees, and protected properties. It can also state whether the buyer may engage another brokerage.

When a buyer asks to cancel

The managing broker should review the contract, service record, and complaint before approving a release, reassignment, protection period, or contractually supported payment. Agents should not promise buyers they can “walk away anytime” unless the agreement says so. The Close’s buyer broker agreement guide explains the terms agents should review with clients before signing.

Providing the agreement before the showing gives buyers time to review its compensation, duration, exclusivity, and exit terms. A structured buyer presentation can help agents explain representation and compensation before the home search begins.

Brokerages should document who can approve a release, what obligations survive termination, and how quickly buyers receive a decision. A buyer who asks to change agents should receive a clear written answer — not discover the exit terms only after the relationship breaks down.

The post Buyer Agreement Dispute Exposes Gaps in Brokerage Release Policies appeared first on The Close.

What the federal purchase restriction covers

The 21st Century ROAD to Housing Act became law July 11. Beginning Jan. 7, 2027, it generally prohibits for-profit investors that control at least 350 qualifying single-family homes from purchasing additional covered properties.

Affiliated companies may be counted together, but smaller investors and individual landlords are not covered. Large investors may keep and rent homes they already own.

Exceptions include qualifying build-to-rent developments, substantial rehabilitation projects and certain programs that help renters become homeowners. A prohibited purchase may trigger a civil penalty of up to $1 million per violation or three times the property’s purchase price, whichever is greater.

Institutional ownership varies sharply by market

A March 2026 Government Accountability Office study examined institutional ownership from 2018 through 2024 in Cincinnati, Dallas, Jacksonville, Nashville, Phoenix and Seattle. GAO studied companies with at least 5,000 single-family homes nationwide and properties in five or more metro areas — a narrower group than the new law covers. Its six selected markets are not a nationally representative sample.

Institutional investors owned less than 1% to 3% of all single-family homes in the markets studied. Their share of single-family rentals was higher, ranging from 4% in Seattle to 22% in Jacksonville.

The largest annual increases occurred from 2021 through 2023, and holdings declined in all six markets in 2024. Ownership was also concentrated within individual communities. In Cincinnati, Jacksonville, Nashville and Seattle, 30% to 50% of institutionally owned homes were located in only five ZIP codes.

Why the listings may have limited reach

Institutional investors control a relatively small share of the national housing stock, and the homes they list are not distributed evenly. A few hundred additional properties could affect pricing and competition in an investor-heavy suburb while producing little measurable change across an entire metro area.

The properties may also be tenant-occupied, require substantial repairs or carry terms that complicate owner-occupant financing. Some could be sold in bulk or purchased by another investor rather than returning to the traditional buyer market.

The available data does not show why investors are listing more homes or establish the new law as the cause. Agents should verify whether the increase is reaching their local market before adjusting advice on inventory, pricing or buyer competition.

Five local checks before advising clients

Agents evaluating the federal restriction’s effect on a client’s search should examine:

• Institutional ownership in the local single-family rental market
• Concentration within the buyer’s target ZIP codes
• Recent corporate-owned listings and completed sales
• Whether listed homes are vacant or tenant-occupied
• Property condition and owner-occupant financing eligibility

Agents should not promise an immediate supply surge or lower prices. They should watch whether corporate-owned listings begin clustering in their clients’ target ZIP codes, where even a limited sell-off could affect comparable sales, buyer competition and seller pricing.

The post Institutional Investor Home Listings Double as Purchase Restriction Nears appeared first on The Close.

The offering arrives as office demand shows renewed strength in parts of Manhattan, but its final price will not provide a straightforward measure of the broader office market. The property’s ground lease, joint-venture ownership and conflicting occupancy figures limit its usefulness as a comparable for conventional office buildings nationwide.

Why 7 Times Square is not a simple office comp

The 1.25 million-square-foot, 47-story tower was developed in 2004. BXP reports a 55% ownership interest, while Norges Bank Investment Management acquired the remaining 45% for $684 million in 2013.

The building sits on city-owned land under a 99-year ground lease that began in April 1990 and includes an option to purchase the site. Public reporting does not establish whether the $700 million to $750 million target covers BXP’s stake, the full leasehold interest or another transaction structure.

Buyers must account for the remaining lease term, ground-rent obligations, transfer rights and site-purchase option. The joint venture may also affect control and financing, unlike a fee-simple deal covering both the building and land.

Occupancy also requires clarification. BXP’s 2025 annual report listed 7 Times Square at 80.2% occupied as of Dec. 31, 2025, while reporting on the offering put occupancy at 91%.

The gap could reflect later leasing, different measurement dates or a difference between leased and occupied space. About 100,000 square feet reportedly remains available on the upper floors, and the figures have not been reconciled publicly.

The tenant roster includes KnitWell Group, which signed a 20-year renewal and expansion covering approximately 246,000 square feet in January 2025. Snowflake also leased approximately 82,500 square feet in March.

How the offering fits BXP’s sales strategy

The offering is consistent with BXP’s broader asset-sales program, although the company has not publicly explained why it is marketing 7 Times Square. BXP said in March that it had generated more than $1.1 billion toward a three-year disposition target of $1.9 billion. The company says the plan is intended to reduce leverage, improve occupancy and raise portfolio quality while it develops new offices in core markets.

The 930,000-square-foot 343 Madison Avenue project reached 56% pre-leased in June, with delivery expected in late 2029. Midtown leasing totaled 4.55 million square feet in the second quarter, 12% above its five-year quarterly average. The availability rate fell to 12.7%, according to CBRE’s latest Midtown report.

Stronger leasing does not ensure stronger sale pricing. Financing costs, capital needs and property income still shape bids.

What to check if the deal closes

A sale near the reported range would establish a benchmark for a major Manhattan leasehold — not for conventional office buildings nationwide. Investors in other markets would still need to compare ownership type, lease structure, occupancy, financing and local transaction volume.

Before treating the deal as a comparable, real estate professionals should confirm the interest transferred, treatment of the ground lease and purchase option, occupancy at closing, and whether the buyer assumed any debt. Without those details, a headline price-per-square-foot calculation could be misleading.

For most investor clients, local vacancy, effective rents, leasing costs and recent submarket sales will remain more relevant than one Times Square transaction. Broader commercial real estate trends also vary substantially by property type and market.

If the deal closes, its value as a comparable will depend on the interest transferred, ground-lease terms, occupancy and any debt included in the transaction. Until those details and the final price are disclosed, 7 Times Square is a closely watched offering — not evidence that office values have broadly recovered.

The post BXP Seeks Up to $750M for 7 Times Square Office Leasehold appeared first on The Close.