Keller Williams parent company CEO Carl Liebert departs

It’s Thursday June 2, and big news to kick off today: Carl Liebert, CEO of Keller Williams parent company kwx, is leaving the company after just over a year and a half on the job. Is the departure a tacit admission by KW that the window for an initial public offering, which Liebert was hired in part to help shepherd, has closed for the time being? In any case, as always, it’s Gary Keller’s world and we’re all just living in it.?

Keller Williams parent company CEO Carl Liebert departs

THE NEWS: Carl Liebert, who joined Keller Williams as CEO of parent company kwx in the fall of 2020, is now leaving the massive franchisor, Inman exclusively learned Wednesday. Liebert joined Keller Williams in October 2020 as part of a major leadership shakeup that also involved Keller stepping away from the chief executive job. Prior to joining the real estate franchisor, Liebert had served as the CEO of AutoNation, the country’s largest automotive retailer.?

Company co-founder Gary Keller announced the departure in an email, saying Liebert “is leaving the company to pursue other opportunities.” The email did not say what those other opportunities were, nor did the company provide that information in response to an Inman question. As of late Wednesday morning, Liebert’s LinkedIn page still listed Keller Williams as his current and most recent employer.

BEHIND THE NEWS: The email further revealed that the company will not immediately fill Liebert’s role. And, the leadership change will see several top executives begin reporting directly to Keller. In addition to Liebert’s departure, Keller Williams’ leadership shuffle also includes the elevation of Sajag Patel to a newly created chief operating officer role. The email describes Patel as “a top agent, MAPS executive coach” and 12-year company veteran. Read the full story here.

>> NUMBER OF THE DAY: 5.344% average rate on 30-year fixed-rate mortgages, trending up slightly again this week ?<<

Home showings see unusual drop in April. Is it a blip, or something else?

THE NEWS: A new report indicates that showing activity in April was down compared to both last year at the same time, as well as to March of this year — a trend the report describes as “unusual.”

The report, from showing management company ShowingTime, indicates that 103 U.S. markets experienced double-digit showings per listing in April. This still points to “robust buyer activity,” the report states, though in April 2021 listings in 146 U.S. markets were experiencing double-digit showings. In March of this year, 121 markets saw double-digit showings per listing.

BEHIND THE NEWS: The report does not speculate about the reasons some markets have seen less activity than others. However, just days ago several economists told Inman interest rates were having a cooling effect on the housing industry . Rates haven’t given buyers the upper hand yet and most places continue to see sellers’ markets, but they are shifting dynamics away from the white-hot environment that has dominated for the last two years.

Significantly, Redfin economist Daryl Fairweather, speaking to Inman last week, suggested there was “some potential for the Midwest to have its moment” as the market shifts. That’s because markets in the Midwest didn’t see quite the same steep home price appreciation during the pandemic that was common in other cities. The fact that ShowingTime’s report indicates buyer competition fell the least in the Midwest in April suggests Fairweather’s prediction about which places will thrive in a changing market is coming true. Read the full story here.