| CURATED for Agents | Trump Orders a Probe of Fed Governor Cook, Rates Hit a Two-Week Low & Two Brokerages Seek Final Tuccori Approval |
FRIDAY · OCTOBER 9, 2026 The real estate industry produced a lot of noise today. CURATED kept the 10 things worth knowing. |
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| 👋 Agents. The White House is forming a committee to investigate Fed governor Lisa Cook.
A hearing is called for November 5, and Cook’s lawyers doubt it is a legitimate one. Rates slipped to 7.48 percent, the lowest since September 25. Compass and Douglas Elliman are seeking final approval of their Tuccori settlements before a November 2 fairness hearing, while NAR asked an appeals court not to prejudge its own. A Senate bill would recognize agents as independent contractors under federal law. And a brokerage president said on a RISMedia panel that AI will replace some agents. Let’s get into all of it.
Enjoy, — CURATED. |
| 1st TakeTrump Forms a Committee to Investigate Fed Governor Lisa CookThe Quick TakeThe White House said it is forming a committee to investigate the mortgage fraud claims against Federal Reserve governor Lisa Cook, The Real Deal reports, citing the New York Times. A hearing is called for November 5. President Donald Trump wants to learn whether there are grounds to remove her. Cook’s lawyers expressed grave doubts that the hearing is a legitimate one. Read more →Why It’s HeatedIn June, the Supreme Court ruled five to four in Cook’s favor, keeping in place a block on her firing. The claims trace to Federal Housing Finance Agency director Bill Pulte, who accused her of describing homes in Michigan and Atlanta as primary residences. Her attorney called the Atlanta description inadvertent. | 📊 The Takes
After her Supreme Court win, many expect Cook to stay put, others watch Fed independence for what it means to rates, and some ignore Washington entirely.
🏛 Expects Her to Stay — ‘The Supreme Court already kept her in place once. I will believe a removal when it happens.’
📈 Watches the Fed — ‘Bond markets care about Fed independence, and bonds drive my buyers’ rates. I am watching this.’
🤷 Tunes It Out — ‘This is Washington. My buyers ask about the payment, not a Fed governor.’ |
| 2nd TakeRates Slip to 7.48%, the Lowest Since September 25The Quick TakeMortgage News Daily put the average 30-year fixed rate at 7.48 percent on Friday. That barely edges out the 7.49 percent seen early on October 2 and is the lowest since September 25. The bond market started the day slightly weaker, then reversed course around 11 a.m., and multiple lenders adjusted their rates lower. Read more →Why You’ll Feel ItRates are still far above the 6.75 percent seen at the end of August. Even so, this is the strongest move back down since then. Part of the drop was lenders catching up to a strong bond rally late the day before. | 📊 The Takes
Locking at a two-week low is the common call, a patient group wants proof it holds after the climb since August, and listing agents are getting inventory ready.
🔒 Says Lock It — ‘A two-week low after that climb is worth taking. I am telling my buyers to lock.’
⏳ Waits for More — ‘A two-week low does not undo the climb since August. Show me it holds.’
🏠 Gets Listings Ready — ‘If rates keep easing, buyers come back. I want my listings ready before they do.’ |
| 3rd TakeCompass and Douglas Elliman Seek Final Approval of Their Tuccori SettlementsThe Quick TakeA fairness hearing in Tuccori, the Illinois homebuyer commissions case, is set for November 2. Compass and Douglas Elliman filed briefs in district court on October 7 seeking final approval of their settlements, 7.3 million dollars for Compass and 2.04 million dollars for Elliman. The National Association of Realtors filed something different: a September 28 amicus brief in the Seventh Circuit Court of Appeals, in an appeal it is not a party to. Read more →The Real StoryNAR asked the appeals court not to prejudge its 52.25 million dollar settlement, which has preliminary approval from May, not final approval. The appeal comes from plaintiffs in a similar case, Batton, trying to block the Anywhere Real Estate opt-in deal. Elliman told the district court only two objectors have emerged among more than 39.6 million prospective class members. | 📊 The Takes
Most want the deals approved and the commission suits behind them, while others hold out for an actual ruling and some expect appeals to drag on regardless.
📕 Wants It Closed — ‘Approve it and close the book. I am tired of commission lawsuits hanging over the business.’
⚖ Waits for the Judge — ‘A brief is not a ruling. I will call it over when the judge approves it.’
🔁 Expects More Appeals — ‘Even approved deals get appealed. The Batton plaintiffs are already trying to block one.’ |
| 4th TakeNAR Backs a Senate Bill to Recognize Agents as Independent ContractorsThe Quick TakeSenator Mike Lee of Utah introduced the Direct Seller and Real Estate Agent Harmonization Act on September 30, with fellow Utah Senator John Curtis as cosponsor. The bill would ensure that federal law recognizes agents as independent contractors. The National Association of Realtors applauded its introduction in an October 6 statement. A companion bill was introduced in the House last year by Representative Kevin Kiley. Read more →What’s at StakeLee said the change would give agents clear legal status. NAR chief advocacy officer Shannon McGahn said it would bring clarity under the Fair Labor Standards Act and reduce confusion and regulatory burdens. The bill has been introduced, not passed. | 📊 The Takes
Writing contractor status into federal law has broad support, a skeptical group waits until the bill passes, and a few would welcome employee benefits.
📝 Wants It in Federal Law — ‘I run my own business. Put that in federal law so nobody can reclassify me.’
🐢 Has Seen Bills Stall — ‘Introduced is not passed. I will celebrate when it is law.’
🩺 Would Take the Benefits — ‘Contractor status means no benefits. Some of us would not mind a brokerage covering health insurance.’ |
| 5th TakeCompass COO Says She Has Onboarded 25,000 Agents Since July as Its Tech Rolls Out to Anywhere BrandsThe Quick TakeCompass International Holdings is rolling out its tech platform to all the Anywhere brands. COO Sue Yannaccone says she has onboarded 25,000 agents from corporate businesses, Coldwell Banker, and Sotheby’s since July. She was speaking on stage at RISMedia’s CEO & Leadership Exchange last week. About 10 months after Compass closed its acquisition of Anywhere, she said the work of integrating the two is still in progress. Read more →What’s ChangingHer reminder to people inside: they no longer work for Anywhere or for Compass, but for a new company with different expectations. She told broker-owners to keep their powder dry. Her remarks came one day after Compass said it would sue one of the largest MLSs in the country. | 📊 The Takes
Learning the new system beats working around it for most, others will pick only the tools that help, and some want to know what a new company means for their brand.
💻 Will Learn the Platform — ‘Change is hard, but I would rather learn the new system than work around it.’
🧰 Keeps Own Tools — ‘I am an independent contractor. I will adopt what helps me and leave the rest.’
🪧 Asks About the Brand — ‘They say it is a new company now. I want to know what that means for the name on my sign.’ |
| 6th TakeIndustry Leaders Split on Whether AI Will Replace AgentsThe Quick TakeAt a panel during RISMedia’s September 30 to October 2 conference, opinions diverged sharply on whether AI will replace agents. John De Souza, president of Cressy & Everett Real Estate, said it will replace some, and that saying otherwise is short-sighted. Christopher Pfeiffer, managing partner with Comey & Shepherd Realtors, said AI is just going to expose mediocrity. My State MLS founder and president Dawn Pfaff called the worries over AI hype. Read more →Why It’s BurningDe Souza was the dissent: various leaders at the conference were emphatic that AI will never replace human relationships. Asked about off-market listings, Pfeiffer called them a small risk. The bigger one, he said, is 700,000 or 800,000 agents who do very few transactions a year. Samson Properties CEO Donny Samson said AI is making everybody a lawyer. | 📊 The Takes
Most leaders on the record say people still hire people, others think AI will expose coasting agents, and a dissenting few expect some agents to be replaced.
💨 Calls It Hype — ‘I have heard this about every new tool. People still hire people.’
🔎 Says It Exposes Mediocrity — ‘AI is not coming for good agents. It is going to show who was coasting.’
🤖 Says Some Get Replaced — ‘Saying AI replaces no one is short-sighted. Some agents will be replaced.’ |
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