Sat.Aug 12, 2023 - Fri.Aug 18, 2023

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Judge dismisses antitrust claims against NAR, Zillow

Housing Wire

Though the National Association of Realtors is not out of the legal woods yet, the trade group does have reason to celebrate. A federal court judge on Wednesday dismissed all antitrust allegations made by REX Real Estate against NAR and Zillow. The remaining claims in the case are all against Zillow, meaning that NAR is no longer a defendant in the case and will not have to participate if it heads to trial next month as scheduled.

MLS 369
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‘Hey, Siri! Can you sell my house?’ Your AI questions — answered

Inman

New Inman contributor and tech CEO Sheila Reddy writes that technology and consumer sentiment are trending toward curated information and experiences. Real estate professionals are well-positioned to capitalize on this trend simply because it’s what they already do.

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RISMedia Unveils Top 25 Rookie of the Year Finalists

RIS Media

In a program designed to honor real estate agents who are new to the business yet already achieving extraordinary results, RISMedia’s second-annual Real Estate Rookie of the Year Award program, sponsored by Colibri Real Estate, today revealed the Top 25 regional finalists for 2023. Five regional winners will be chosen from among the Top 25,… The post RISMedia Unveils Top 25 Rookie of the Year Finalists appeared first on RISMedia.

Design 98
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Great Wealth Transfer

BubbleInfo

From Leonard Steinberg at Compass: If you thought the $7 trillion Covid-linked stimulus was big, think again. It is pittance compared to the biggest stimulus that has started and will continue for the next 2 decades amounting to over $80 trillion!

As-is 98
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3 Real Estate Office Hacks to Help Kickstart the Busy Season

Ready to better your Back Office? Dive into the secrets to a powerhouse back office with Brokermint expert, Jessica Souza. In this free download, she shares her 3 transformative hacks designed to clean house, get everyone on the same page, and set yourself up for success. From optimizing agent profiles to ensuring flawless transactions and boosting agent retention, these strategies are your ticket to a seamless operation.

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The "New Normal" Mortgage Rate Range

Calculated Risk Real Estate

In early June, I wrote: Could 6% to 7% 30-Year Mortgage Rates be the "New Normal"? This is an update to that post with some additional research. In the previous post I noted that a key pitch, by real estate agents for home buyers right now, is that they will likely be able to refinance at a lower mortgage rate in a few years. The argument is that once the Federal Reserve has inflation back down to the 2% target, 30-mortgage rates will decline, perhaps to around 5% or lower.

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An Embarassing Example Of Municipal Red Tape & Inefficiency!

Toronto Realty Blog

TorontoRealtyBlog Are you familiar with Murphy’s Law? I had to look this up, but there actually is a Murphy, just as I’m sure that “Pavlov” had a dog… Aerospace engineer, Edward Murphy, apparently coined the phrase, “Anything that can go wrong, will go wrong, and at the worst possible time,” although the actual origins of the phrase are unclear and debated.

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Is It Too Low? What Is Reasonable to Offer Below Asking Price?

HomeLight

Determining the right offer for a house can often feel like a delicate dance. While buyers aim to secure their dream home without overstretching their budget, sellers are looking to get the best possible return on their investment. So, how much below asking price is reasonable to offer? The answer isn’t always straightforward, as it depends on the state of the current real estate market, the condition of the property, and the urgency of the seller.

Agents 88
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Just 36 real estate brokerages and teams made the Inc. 5000 in 2023

Housing Wire

The slower housing market and uncertain economic conditions took their toll on the number of real estate brokerages and firms that were named to Inc. Magazine ’s 5000 list for 2023, a ranking of the fastest-growing companies in the U.S. Last year , over 60 real estate brokerage firms or real estate teams made the list, but this number shrank to just 36 in 2023.

Brokerage 370
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Former Zillow CEO unveils latest venture: an AI-powered, lead-gen assistant

Real Estate News

Serial entrepreneur Spencer Rascoff predicts real estate agents will be “one of the biggest verticals” that will use HeyLibby to turn contacts into customers.

Agents 243
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Equity Is a Game Changer for Homeowners Looking To Sell

Keeping Current Matters

If you’re a homeowner, you might be torn on whether or not to sell your house right now.

Equity 218
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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5 trends in high-end chef’s kitchens

Inman

When listing a luxury home, the quality of the kitchen is critical. Just ask John Messina, Licensed Associate Broker and Global Real Estate Advisor at Daniel Gale Sotheby’s International Realty: “The kitchen is the heart of a home,” he says. “It can determine whether a home sells right away or languishes on the market.

Marketing 148
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CFPB fines Freedom Mortgage and Realty Connect nearly $2 million for illegal kickbacks

Housing Wire

The Consumer Finance Protection Bureau (CFPB) issued orders against Freedom Mortgage Corporation and Realty Connect USA Long Island for illegal kickbacks on Thursday, the first enforcement action associated with the 1974 Real Estate Settlement Procedures Act in six years. According to the CFPB, Freedom provided real estate agents and brokers with incentives, including cash payments, paid subscription services, and catered parties in exchange for agent and broker referrals for mortgage loan offer

Mortgages 370
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Industry moves quickly to support Maui relief efforts

Real Estate News

As the wildfire death toll rises, Keller Williams, eXp and others connect with agents, raise money and even turn an office into an emergency “command center.

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Why a Land Survey Is Important

RIS Media

A survey of land is a critical component of real estate transactions and property ownership. It involves measuring and mapping land to determine its boundaries and identify potential issues or encroachments. Land surveys ensure accurate boundary determination, verify property rights, comply with zoning regulations, and resolve legal disputes. We will delve into the importance of… The post Why a Land Survey Is Important appeared first on RISMedia.

Land 98
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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

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Compass plucks 2 multimillion-dollar teams from Coldwell Banker

Inman

Compass has recruited the second-largest Coldwell Banker teams in Denver and Seattle, the Infinity Pros team and the Get Happy At Home team. They are the 51st and 52nd agents or teams to move from Coldwell Banker to Compass this year.

Agents 148
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The first real test of mortgage rates: will they hit 8%?

Housing Wire

The 10-year yield closed today above my key level of 4.25%: Does that mean mortgage rates will hit 8%? To understand what’s happening, here’s how I look at the bond market and mortgage rates in my forecast for 2023. In my 2023 forecast , the range on the 10-year yield was between 3.21%-4.25%, emphasizing that the bond yields can go lower than 3.21% only if the labor market breaks — which would require jobless claims to go over 323,000 on a four-week moving average.

Mortgages 369
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Gary Keller says the market has hit bottom, only way is up

Real Estate News

Keller kicked off KW’s Mega Camp with a message for agents: “If you do the work, you will have a great real estate year, regardless of the market.

Marketing 246
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Rare Cobblestone Church on Market Highlights Unusual Upstate Building Style

Brownstoner

Texturally delightful, with rows of cobblestones rippling across the facade, this former church in Ontario County is an intriguing bit of New York architectural history. Between the 1820s and the mid 1860s, builders in the area used what was plentiful -- small, rounded stones -- to build houses, churches, schools,… Read More > The post Rare Cobblestone Church on Market Highlights Unusual Upstate Building Style appeared first on Brownstoner.

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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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Compass expands into Santa Cruz with Monterey Bay Properties

Inman

Compass has purchased the 40-year-old brokerage and its team of nearly 40 agents, marking the publicly traded brokerage's first office in Santa Cruz County, the company announced Wednesday.

Brokerage 145
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Just 16 mortgage lenders, brokers make Inc. 5000 list in 2023

Housing Wire

Reflecting the housing industry’s headwinds, just 16 mortgage lenders and brokers made the annual list of Inc. Magazine ‘s 5,000 fastest-growing private companies in the U.S. for 2023. It’s a sharp decline from 2022, when nearly 70 mortgage lenders and brokers were named. The companies are U.S.-based, privately held and independent as of Dec. 31, 2022.

Mortgages 369
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Zillow scores victory in REX case ahead of trial

Real Estate News

A judge has ruled an antitrust claim was without merit, a key component in a federal case involving how portals display non-MLS real estate listings.

MLS 242
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Lawler: Is The “Natural” Rate of Interest Back to Pre-Financial Crisis Levels?

Calculated Risk Real Estate

CR Note: This is related to my note earlier this week: The "New Normal" Mortgage Rate Range From housing economist Tom Lawler: The resiliency of the US economy in the face of the “aggressive” Federal Reserve rate hikes since last March, combined with an increase in inflation-adjusted Treasury (TIPS) yields to levels not seen in almost 15 years, have led a growing number of analysts to conclude that the so-called “natural” rate of interest (often referred to as “r-st

Banks 98
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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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New Western’s marketplace and other solutions to inventory crisis

Inman

Retail investors and local landlords offer real estate agents a wide array of options for staying active in a market bereft of traditional inventory, you simply need to know how to connect with them.

Investor 146
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Top mega team joins Pinnacle Realty Advisors

Housing Wire

One of Texas’ top mega teams , Nest Finders , is partnering with r eal estate brokerage as a service platform , Pinnacle Realty Advisors , according to an announcement on Monday. Pinnacle Realty Advisors will supply Nest Finders with back-end support and tools such as on-demand broker support, as well as PinnacleHQ , Pinnacle’s virtual office and services marketplace.

Brokerage 369
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Mortgage company, brokerage fined nearly $2 million for “kickbacks”

Real Estate News

The Consumer Financial Protection Bureau fined Freedom Mortgage $1.75 million and Realty Connect $200,000 for providing illegal incentives for loan referrals.

Brokerage 233
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CRMLS Welcomes Rapattoni Refugees as MLS Outage Continues

RIS Media

As a widespread MLS outage extends into its second week, the nation’s largest MLS—which was not affected by the apparent ransomware attack that took down Rapattoni-powered databases and services—is reaching out to help those still without MLS access. A spokesperson for CRMLS said they are offering free MLS access and assistance to non-members who have… The post CRMLS Welcomes Rapattoni Refugees as MLS Outage Continues appeared first on RISMedia.

MLS 98
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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.

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Gary Keller: A ‘rolling recession’ will hit the US housing market in 2024

Inman

Keller Williams kicked off its Mega Agent Camp on Tuesday with remarks from Gary Keller, who warned of a "rolling recession" while predicting agents will survive treacherous economic terrain.

Marketing 145
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Home pricing rules: don’t go if you don’t know

Housing Wire

A great Listing pre-qualification script pulls out critical facts so you can be best prepared to not just take the listing, but to price it right in the first place! Not prequalifying is unprofessional and can waste your time and the sellers. Always prequalify, 100% of the time! Price it to sell, not to sit. The best price reduction conversation is the one you never have to have.

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Industry unites to help agents shut out by cyberattack

Real Estate News

CRMLS and other organizations are offering temporary access and support to agents affected by the Rapattoni shutdown, now in its second week.

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Pre-Civil War Gothic Church Faces Wrecking Ball to Make Way for Apartments in Bed Stuy

Brownstoner

It looks likely the St. Lucy-St. Patrick’s Roman Catholic Church on Willoughby Avenue in Bed Stuy will be demolished for a new residential development. The Gothic Revival church, which has dominated the block since 1856, will be the latest in a string of historic religious buildings on the stretch to… Read More > The post Pre-Civil War Gothic Church Faces Wrecking Ball to Make Way for Apartments in Bed Stuy appeared first on Brownstoner.

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How Enriching the Lives of Your Clients Leads to Greater Sales Success

Speaker: Ari Capogeannis, Director - Revenue Marketing at NVIDIA and Bill Pappa, Sales and Marketing Leader at Ai Media Group

Building strong personal and professional relationships with clients is a critical success factor. Sales professionals who focus on relationship building generate more leads and raise their brand awareness. Because this can take time, having regular engagements can help you cultivate these relationships more efficiently. The most effective way to accomplish this is through direct hyper-personalized touchpoints.