Aaroe, who founded John Aaroe & Associates and the John Aaroe Group, was known as a cherished mentor and guiding light to Southern California agents. He passed away at the age of 73 on Tuesday.

Brad Inman remembers Beverly Hills real estate leader John Aaroe, his personal friend and professional confidant, who died this week.

Existing home sales were up 0.5 percent month over month in November. But NAR's Lawrence Yun also said "homeowners are in no rush to list their properties."