Housing Wire

MARCH 22, 2024

Based on NAR’s settlement, agents working with buyers will need a signed buyer representation agreement starting in mid-July, pending final court approval of the settlement. Bills Clarke said this is exactly how agents already work with sellers, so it shouldn’t be a big deal to implement buyer agreements into a business. “We

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Housing Wire

APRIL 25, 2024

launched Claire, a generative artificial intelligence -powered, zero-commission buyers’ agent chatbot, the company announced on Wednesday. The tool helps match buyers with the ideal property while providing insights into market trends and property values. Real estate technology company reAlpha Tech Corp.

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Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

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Housing Wire

SEPTEMBER 26, 2023

“Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said. At the current sales rate, this represents a supply of 7.8

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Housing Wire

FEBRUARY 27, 2024

At the 2024 Keller Williams Family Reunion event in Las Vegas, co-founder and executive chairman Gary Keller took the stage on Tuesday and spoke to a room full of real estate agents about the importance of buyer agency agreements within the context of the ongoing antitrust lawsuits. You are being accused of not being transparent. “If

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Housing Wire

MARCH 27, 2024

With the settlement, NAR agreed to abolish its “Participation Rule” that required listing agents to make an offer of compensation to buyer brokers. The currency policy will put VA buyers on the sidelines, especially in a market with already tight inventory, Sears pointed out. “In VA loans are probably the best loans on the market.

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Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

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Housing Wire

NOVEMBER 14, 2023

Here are 14 real estate trends Gen Z buyers won’t pass up. Gen Z likes to stay close to home With the continued trend of remote work and little desire for a long commute, Gen Z buyers are moving to homes in walkable communities with nearby amenities. Voice-activated assistants, such as Alexa or Google Home, are also a plus.

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Housing Wire

OCTOBER 3, 2023

HousingWire recently spoke with Ashley Terrell, chief revenue officer at Milestones , about the value of real estate agents and why it is critical for the industry to start helping buyers’ agents justify their value not only during the 30-60 day transaction period but through the 7-10 year period of homeownership.

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HomeLight

MAY 8, 2024

When selling a house “as is,” the seller chooses not to entertain buyer requests to complete repairs or provide credit for any fixes. However, “as is” sales often attract investors searching for their next flip or buyers seeking a bargain, perhaps on a home in a great location with lots of potential.

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Housing Wire

NOVEMBER 1, 2023

Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? One of the researchers, Will Fried, had a hunch. One of the researchers, Will Fried, had a hunch. ” Their findings, published online as a draft on Oct.

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Housing Wire

NOVEMBER 7, 2023

It’s a fact: Buyer-side commissions are no longer a guarantee and no longer an entitlement. Builders don’t all pay the same buyer-side commissions; some don’t pay any buyer-side commissions. So how do you provide overwhelming value to your buyer clients? For Sale By Owners are the same.

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Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

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Housing Wire

NOVEMBER 20, 2023

The Sitzer/Burnett trial out of Kansas City found the National Association of Realtors (NAR) guilty of conspiring to inflate agent commissions — sparking a debate over agent commission fees and the longstanding role of buyer agents in real estate transactions. But what happens if consumers pivot away from buyer agents altogether?

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Housing Wire

SEPTEMBER 18, 2023

According to court documents filed on Monday, RE/MAX and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits. million for both lawsuits. In fact, the U.S.

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Housing Wire

JANUARY 24, 2024

What constitutes a “lowball” offer, when is it appropriate or not appropriate and how can you encourage your buyer clients to stop insisting on offering a price that’s unlikely to result in an offer? So do buyer’s credit scores , ratios and down payment funds. If so, it may be time for a strategy change.

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Inman

MARCH 26, 2024

The new price point marks a strategy shift for the company, which buys homes in vacation markets, converts them into LLCs and sells shares to up to eight buyers.

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Housing Wire

NOVEMBER 29, 2023

In the ever-competitive real estate market, creating a consistent flow of real estate buyer leads is strategy for success. But beyond first-timers, we’ll show you how to attract real estate buyers of all kinds through a multi-tiered marketing approach that boosts both your visibility and credibility with potential buyers.

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Housing Wire

OCTOBER 6, 2023

million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public, and they stipulate that the brokerage conglomerate make significant changes to its practices. The terms of Anywhere Real Estate ‘s $83.5 It won class-action status last year and could result in over $1 billion in damages.

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Housing Wire

JULY 21, 2023

The nation’s second largest multiple listing service , Bright MLS , will begin allowing listing agents to put in a blanket offer of compensation for buyer brokers of zero dollars or more, starting on August 9. While Bright MLS, which serves clients in Delaware, Pennsylvania, Maryland, Virginia, New Jersey, Washington, D.C.,

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Housing Wire

JANUARY 29, 2024

mortgage rate, the prospective buyer with a $3,000 budget can afford a $453,000 home. In October, a buyer with the same monthly budget and a 7.8% Redfin agents report that buyers have come to terms with rates in the 6s, even if they’re double the historically low costs that buyers had during the early stages of the COVID-19 pandemic.

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Housing Wire

OCTOBER 4, 2023

District Court in Boston granted the Department of Justice’s request to extend all settlement related deadlines in the Nosalek buyer broker compensation class action lawsuit on Tuesday. Unlike the two other buyer-broker commission lawsuits, Moehrl and Sitzer/Burnett , NAR is not a defendant in the Nosalek lawsuit.

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Real Estate News

JULY 18, 2023

While rising interest rates have slowed the rate of increase, confidence is at its highest level in more than a year.

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Housing Wire

NOVEMBER 30, 2023

After a very difficult market for buyers who have had to contend with an atypical housing market in 2023, home shoppers will find more listings to choose from in 2024,” Lisa Sturtevant, Bright MLS chief economist, said in a statement. Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory.

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Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. Buyers get sticker shock when they see their high rate on paper alongside extra expenses for maintenance, repairs and closing costs. That rate is up from 14.3% The median U.S. This price was 2.8%

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Keeping Current Matters

JUNE 9, 2021

This may be evidence that homeowners who have been afraid to let buyers in their homes during the pandemic are now putting their houses on the market. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item.

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Housing Wire

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. Buyers are picky and they don’t want to pay a dollar more than they need to,” the report said. According to the brokerage, 6.5% the month prior.

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Housing Wire

OCTOBER 2, 2023

MLS Property Information Network’s (MLS PIN) settlement agreement in the Nosalek class action antitrust buyer-broker compensation lawsuit has hit yet another snag. ” It continues: “Buyer-broker commission rules are the subject of several pending antitrust suits and a pending appeal in which the United States is an appellant.”

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Housing Wire

JUNE 15, 2023

If the Fed raises interest rates further, buyers’ affordability will be significantly impacted in some markets, Marty Green, principal at mortgage law firm Polunsky Beitel Green, noted. The Fed’s updated economic projections showed that central bankers forecast that inflation could finish 2023 at 3.2% The industry wants a complete stop.

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Housing Wire

NOVEMBER 23, 2022

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. It gives the buyer and seller the feeling of beating the mutual enemy, ‘the market,’ and gaming the system.”.

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Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. You’ve got current economic conditions that are not opportunistic for a homebuyer right now, inflation is still out there and it’s all constraining buyers’ ability to spend. “You’ve

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Housing Wire

SEPTEMBER 20, 2023

Defendants in the Sitzer/Burnett class action lawsuit, which deals with buyer brokers’ commissions, are facing two fewer claims. The past few weeks have been eventful for the Sitzer/Burnett lawsuit, as well as the larger Moehrl lawsuit in Illinois, which also deals with buyer-broker commissions. Bough, a U.S.

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Housing Wire

SEPTEMBER 5, 2023

Find your audience Not every real estate transaction is the same because not all buyers and sellers are the same. Do you specialize in helping first-time buyers and sellers, or are you leaning towards working with real estate investors ? Here are 11 tips to make these workshops more effective.

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Inman

MAY 10, 2023

A "drought" of new listings is driving up prices, reversing the sluggishness of late 2022 and forcing buyers to compete fiercely for homes, according to a new analysis from Zillow.

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Housing Wire

OCTOBER 16, 2023

At the crux of the case is the allegation that commission rates are too high, it’s unfair that the seller pays the buyer’s agent’s commission, and that the National Association of Realtors’ (NAR) Code of Conduct and MLS Handbook lead to set pricing. million, respectively.

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Housing Wire

SEPTEMBER 5, 2023

According to court documents filed on Tuesday, Anywhere Real Estate and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits. A trial date has yet to be set for the Moehrl lawsuit. “We

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