August, 2024

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Pending starter home sales soar as first-time buyers return to market

Inman

Pending sales of starter homes surged 10.2 percent in July, reaching their highest point since October 2022 as mortgage rates began to decline, according to data released Monday by Redfin.

Sales 186
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Mortgage rates drop to lowest level of 2024

Housing Wire

The average 30-year fixed-rate mortgage dropped to 6.62% on Thursday, a new low for 2024 that appears to be tied to the expectation that the Federal Reserve could move to cut interest rates at its next meeting in September. This is according to data reported by Mortgage News Daily. On Wednesday, Fed Chair Jerome Powell indicated that a rate cut is a possibility after the September meeting if economic data continues to trend in the right direction.

Mortgages 518
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Gary Keller on winning in a market that’s ‘as bad as it gets’

Real Estate News

The Keller-Williams co-founder told a crowd of the faithful that he sees a soft landing for the economy and success for agents who are ‘ready to jump’ in 2025.

Land 328
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What Mortgage Rate Are You Waiting For?

Keeping Current Matters

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years.

Mortgages 314
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Driving Profit: 4 Pillars for Growing Your Real Estate Brokerage

In the rapidly changing real estate landscape, achieving profitability requires a strategic approach beyond traditional methods. Our guide, "The 4 Pillars to Brokerage Profitability," outlines four essential pillars for scaling your real estate business: a seamless lead-to-close technology ecosystem, tailored integrated solutions for teams and agents, value-added success services and community support, and consumer-centric operations throughout the full homeownership lifecycle.

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Locals Call on Pol to Reduce Arrow Linen Rezoning, Back Fully Affordable Build

Brownstoner

As the controversial rezoning proposal for Arrow Linen’s site in Park Slope moves through the city process, advocates for a shorter, more affordable housing development say they have found a developer willing to build one. Their vision, they say, could yield more apartments than what is currently planned by Arrow Linen… Read More > The post Locals Call on Pol to Reduce Arrow Linen Rezoning, Back Fully Affordable Build appeared first on Brownstoner.

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What Is Probate in Real Estate?

RIS Media

Probate in real estate refers to the legal process of transferring property after a homeowner’s death. This process involves validating the deceased’s will, settling debts and distributing assets to heirs. Understanding probate is crucial for buyers, sellers and inheritors of real estate. Understanding estate planning for the family should never be overlooked.

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Lower mortgage rates are slowing down inventory growth

Housing Wire

Have lower mortgage rates already started to slow down housing inventory? I have a simple weekly growth model with the Altos inventory data: when rates are high, over 7.25%, inventory should grow between 11,000-17,000 weekly. This has happened six times this year and even though that would be an average inventory growth level with higher rates, it didn’t happen even once last year.

Mortgages 508
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Michigan agents sue NAR over mandatory membership rule

Real Estate News

The plaintiffs say they shouldn’t have to join NAR and other associations to access the MLS, especially if buyer-broker compensation is no longer guaranteed.

MLS 337
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Mortgage Rates Down a Full Percent from Recent High

Keeping Current Matters

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability.

Mortgages 348
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Another downtown Seattle office tower is set for housing conversion

Seattle Times Real Estate

Officials are offering tax breaks and regulatory relief as fewer office workers return to once-busy areas. In Seattle, nearly a third of downtown office space is empty or available for sublease.

As-is 139
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Tech-Forward Strategies for Scaling Agent Efficiency & Accelerating Growth

As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.

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Seasonal Home Selling Tips: How to Prepare Your Home for Sale in Any Season

RIS Media

Selling a home can be challenging, but with the right seasonal strategies, you can make your property stand out. Whether it’s fall, winter, or the holiday season, tailoring your home to the time of year can attract more buyers and potentially speed up the sale. I have put effort into giving you the best advice… The post Seasonal Home Selling Tips: How to Prepare Your Home for Sale in Any Season appeared first on RISMedia.

Sales 138
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Realtors file suit against Move, NAR over ‘fake leads’ scheme

Inman

Eight Realtors are seeking class action status in their lawsuit against Realtor.com for allegedly selling unvetted and fraudulent buyer and seller leads. This is the third lawsuit against Realtor.com and parent company Move over its lead gen business.

Agents 197
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Mortgage rates plummet and everything has suddenly changed — for now

Housing Wire

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans and in the mid-6% range for conventional mortgages.

Mortgages 513
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Election uncertainty causing some buyers to hit pause

Real Estate News

Many homebuyers are waiting to see who the next president will be before continuing their home search, but it’s really the Fed that they should be watching.

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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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Are There More Homes for Sale Where You Live?

Keeping Current Matters

One of the biggest bright spots in today’s housing market is how much the supply of homes for sale has grown since the beginning of this year.

Sales 309
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Lynnwood light rail route brings a housing boom

Seattle Times Real Estate

The four newest Link light rail stations north of Seattle have been magnets for apartment construction, with more than 10,000 units finished or underway.

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The Impact of Holidays on Home Sales

RIS Media

The holiday season is a unique time for the real estate market. Understanding how holidays affect home sales now can guide buyers and sellers in making informed decisions if they decide to enter the market at that time of year. I have provided detailed information to help potential home sellers whether it makes sense to… The post The Impact of Holidays on Home Sales appeared first on RISMedia.

Sales 132
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Homie sues NAR and others, alleging boycott and conspiracy

Inman

The suit accuses NAR and major franchisors of breaking antitrust laws. The company's complaint includes alleged text messages in which agents refused to show Homie listings.

Agents 198
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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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Feeling the squeeze: NAR settlement terms trigger commission compression

Housing Wire

Although the industry is barely than a week into the “ new normal ,” some real estate agents and brokers are already seeing smaller buy-side commissions. “It kind of started before the [ National Association of Realtors ] settlement went into effect, but commission compression is a real thing,” Brian Huskey, the broker-owner of Montana-based ERA American Real Estate , said.

Brokerage 501
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Real estate’s day of change is here: 3 things to know

Real Estate News

Important practice changes required by the NAR settlement take effect today, affecting buyer agent agreements and compensation. “We are in this together.

Agents 319
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Are We Heading into a Balanced Market?

Keeping Current Matters

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand.

Marketing 308
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WA joins antitrust suit against rent-setting software firm RealPage

Seattle Times Real Estate

Washington Attorney General Bob Ferguson’s office estimates that landlords have used the software to set rents for 800,000 Washington leases since 2017.

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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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Tips For Selling a House Quickly in Slow Months

RIS Media

Selling a house during slow months can be challenging. However, with the right strategies, it’s entirely possible to close a deal quickly. I have put significant effort into providing the best advice to achieve home sale success at the least ideal time. You will find information in these crucial aspects: Practical tips and strategies for… The post Tips For Selling a House Quickly in Slow Months appeared first on RISMedia.

Closing 133
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Better pay and more time off: What agents really want this Labor Day

Inman

Do we still want to work like it's 1999? No, that's why agents need to ask themselves what they really want their work, life and compensation to look like moving forward, Rachael Hite writes.

Agents 189
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NAR, Move named in new lawsuit alleging sale of fake leads

Housing Wire

The National Association of Realtors (NAR) is facing yet another lawsuit. The latest complaint, which is seeking class-action status, was filed on Friday by eight real estate agents in Los Angeles County Superior Court. The suit claims that NAR, along with Move Inc., Move Sales , OpCity Acquisitions , OpCity Inc. and REA Group Ltd. — which, according to the complaints, are all wholly owned subsidiaries of Move and News Corp , who is also a defendant — defrauded agents by selling them fake lead

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What buyers will give up to find an affordable home

Real Estate News

A Redfin survey found that younger buyers are more willing to sacrifice safety, and overall, proximity to amenities was lower on the list of must-haves.

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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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Home Inspections For Sellers: How To Prepare

Keeping Current Matters

If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for.

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It’s Never Too Early (or Late) to Build a Team of Deal Finders. Here’s How To.

Bigger Pockets

Deal finding is one of the most important parts of real estate investing, yet a lot of investors struggle to put it together. Here's how you can form a stellar team of finders.

Investor 132
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The Impact of Interest Rates on Condo Sales

RIS Media

Interest rates are critical in the real estate market, especially in selling condominiums. Understanding this impact can help buyers, sellers and investors make informed decisions. Introduction to interest rates and condo sales Interest rates are the cost of borrowing money, typically expressed as an annual percentage of the loan amount. They influence the affordability of… The post The Impact of Interest Rates on Condo Sales appeared first on RISMedia.

Sales 129
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Today marks the dawn of a new day for real estate. Make the most of it

Inman

The best real estate agents will thrive, the profession will be elevated, rot will be removed and the brands that are built on trust and integrity will rise to the top, Inman founder Brad Inman writes.

Branding 192
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The Broker Action Plan for the Post-NAR Lawsuit Landscape

Now more than ever, brokers need to provide agents with the right tools, strategies, and training to effectively demonstrate their expertise, negotiate successfully, and foster strong client relationships. So – what should brokers do to ensure this? Invest in the right technology, continuous education, and innovative marketing strategies that empower agents to stand out in a crowded marketplace.