Real estate isn’t just changing—it’s consolidating, centralizing, and lawyering up.

In this episode of Dealmaker$, Shane Hall unpacks the most consequential real estate power moves shaping Maryland and the U.S. housing market in April 2025. From brokerage consolidation to MLS antitrust scrutiny to global trade pressure, this episode connects the dots between deals, regulation, and who ultimately controls inventory.

The conversation opens with the accelerating brokerage wars, as Compass continues its aggressive expansion—following the acquisition of Washington Fine Properties and rumors surrounding a potential move involving HomeServices of America, parent of Long & Foster and Berkshire Hathaway HomeServices. If these moves materialize, Compass could command close to $20B in DC-area transaction volume, signaling a shift toward an Amazon-style ecosystem built around scale and listing dominance.

From there, Shane breaks down the escalating conflict between Zillow and brokerages over private exclusive listings. At the heart of the dispute is a fundamental question: who owns the listing—the MLS, the broker, or the portal? Zillow’s threat to restrict listings marketed off-MLS underscores how control of data and distribution has become the industry’s central battlefield.

The episode also examines the fallout from the $418M National Association of Realtors settlement, which eliminated buyer-agent compensation displays and forced agents to articulate their value directly to consumers. With agent count down sharply since 2019, the market is already thinning—and specialization is no longer optional.

Adding another layer, Shane explains why the U.S. Department of Justice may be just getting started. New antitrust leadership has openly questioned whether MLS systems function as coordinated monopolies, raising the possibility of lawsuits, forced rule changes, or even structural reforms that could redefine how listings are shared nationwide.

Finally, the episode looks outward—at global tariffs and trade policy—and how rising costs for materials, appliances, and fixtures could quietly worsen affordability by slowing construction and squeezing already-thin margins.

This isn’t a collection of headlines. It’s a strategic map of where power is moving.

The takeaways are clear:

• The biggest players are getting bigger.
• Listing control is the new leverage point.
• Agents must specialize or be marginalized.
• Regulatory pressure is intensifying.
• And economic policy will show up in housing costs faster than most expect.

If you want to understand not just what’s happening—but what it means and what comes next—this is the episode to hear.

🎙️ Dealmaker$ — real estate, business, and the people shaping the industry

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