🏡 Biggest Change in a Century Set To Hit US Housing Market...

Good morning. US stock futures traded mixed in Tuesday morning trading as investors awaited for key inflation data.

🏡 Realtors business model to undergo radical change

📝 Our report: Realtors across the U.S. are gearing up for a big shake-up. New rules are about to change how they get paid to help buy and sell homes. The changes, which are part of a $418 million settlement announced in March by the powerful trade group the National Association of Realtors (NAR), eliminate informal rules that propped up the industry’s traditional payment structure, where home sellers were typically on the hook to pay a 5% or 6% commission, usually split between their agent and the agent representing their home seller.

 🔑 Key points:

• In the months since the settlement was announced, Realtors across the country have been preparing for the change, attending trainings and poring over the details of new contracts they must sign with prospective homebuyers.

• In a statement, NAR’s president, Kevin Sears, said he was confident NAR members would adapt to the changes, which industry analysts have called the biggest change in America’s real estate market in a century.

• There are two main changes taking place. The first change prohibits agents’ compensation from being included on multiple listing services, which are centralized databases used by Realtors to share details about homes for sale. The second change requires buyers’ agents to discuss their compensation upfront.

💡 So what: The new rules set to hit realtors across the U.S. in mid-August could significantly alter the real estate landscape. These changes are expected to disrupt how realtors are compensated, potentially leading to a shift in how they structure their fees and services. For homebuyers and sellers, this could mean greater transparency in costs and possibly lower fees, as the traditional commission structure comes under scrutiny. For realtors, the shift could lead to increased competition, forcing them to adapt their business models and value propositions. The overall impact may also result in more negotiation power for consumers, as they will have a clearer understanding of the costs involved in real estate transactions.

Tuesday - NFIB Optimism Index

Wednesday - Consumer Price Index

Thursday - U.S. Retail Sales

Friday - Consumer Sentiment

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🎵 TikTok comes for messaging app with addition of group chat feature

WHAT: TikTok is stepping up to challenge messaging giants like WhatsApp and Apple's Messages by adding group chats to its platform. While people often share TikTok videos with each other in group chats on messaging apps, TikTok is now letting users do so within its own platform. Users can now watch, comment, and react together all on TikTok.

WHY: The latest addition highlights TikTok’s efforts to make its platform more social and a place for conversation with friends, not just an entertainment platform where you interact with strangers.

🧠 Google, actress join forces on mental health

WHAT: Google's charitable arm just gave a huge boost to high school wellbeing projects by flash funding all mental health-related requests on DonorsChoose, the classroom crowdfunding site where public school teachers get help with supplies. With $10 million in new gifts and the help of actress Selena Gomez, the Silicon Valley giant hopes to center mindfulness as an educational goal at the start of the academic calendar.

WHY: The move comes amid widespread criticism and lawsuits claiming Google-owned YouTube and other social media sites have fueled the childhood mental health crisis by deliberately designing addictive features.

📱 Apple issues ultimatum to creator platform

WHAT: Apple has given Patreon a not-so-subtle nudge, threatening to boot the platform from the App Store if creators bypass Apple's in-app purchasing system or opt for unsupported third-party billing methods. In a blog post and email to Patreon creators about upcoming changes to membership in the iOS app, the company says it's begun a 16-month-long migration process to move all creators to Apple's iOS in-app purchase system by November 2025.

WHY: Despite Apple's rules and policies, Patreon had existed in a gray area, as some of its subscription-based offerings could be consumed in its app while others could not. Though the company admitted it didn't have any sort of special contract with Apple to avoid the App Store fees, the app had been able to skirt Apple's in-app billing requirements for some time.

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