Housing Wire

NOVEMBER 7, 2023

Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points. “But agent commissions have never been a closing cost from a buyer perspective. Grant said.

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VA loan Agents Seller concession FHA loan 482

Housing Wire

JUNE 10, 2021

While a real estate agent’s commission is one of the most expensive costs, it definitely isn’t the only one. From staging fees, home improvements, repairs and seller concessions, there are several hidden costs involved in the selling process. Seller Concessions. Are you thinking about selling your home?

Seller concession 546

Seller concession Staging Closing costs Inspection 546

Housing Wire

MARCH 13, 2024

In a world enamored with all things digital and AI , one would think that real estate agents don’t serve any purpose, but it’s totally untrue. The theory is further dependent on every seller returning to each site following the sale to accurately enter the final sales price AND all seller concessions.

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Seller concession Agents MLS Sales 468

Housing Wire

NOVEMBER 20, 2023

Real estate agents are facing a contracting issue that could seriously upend the traditional housing landscape. Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. But what happens if consumers pivot away from buyer agents altogether?

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Pre-approval Agents Loan Officer Seller concession 481

Real Estate News

SEPTEMBER 26, 2024

The new guide from the National Association of Realtors also explains how concessions (which can be used to pay an agent) differ from offers of compensation.

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Seller concession Agents 271

Housing Wire

MARCH 14, 2024

No matter where you are in the state, real estate agents in Virginia are facing low inventory conditions that are creating frustrating scenarios for their buyers. “I Out in Wise, Virginia, near the westernmost tip of the state, RE/MAX Cavaliers agent Brett Tiller and his clients are also struggling to find suitable properties.

Agents 459

Agents Seller concession Marketing Days on market 459

Housing Wire

AUGUST 19, 2024

But even though O’Koniewski and her agents have spent months preparing for these changes, she said the date did not come without a sense of trepidation. “I Not that individual agents might be struggling or running into things, but I haven’t seen or heard any horror stories or anything awful yet.” I know quite a few agents it hurt.

Purchase and sale agreement 476

Purchase and sale agreement Agents MLS Seller concession 476

Housing Wire

NOVEMBER 1, 2022

A 2-1 buydown can be paid for by the homebuyer or the home seller can pay for it as a seller concession. A 2-1 buydown as a seller concession can sometimes make it easier and faster for home sellers to sell their home for a good price. How does a 2/1 rate buydown work? What are the pros and cons?

Seller concession 468

Seller concession Loan Officer Closing costs Mortgages 468

Housing Wire

JULY 18, 2024

Notably, the CFA recommends in the criteria that information about agent compensation should be listed at the beginning of the form and clearly labeled. Understandable agreements have the ability to empower buyers and transform their relationship to agents,” Brobeck said.

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Seller concession Agents Industrial Closing 494

Housing Wire

NOVEMBER 5, 2024

The removal of offers of buyer broker compensation from most MLSs across the country — as mandated by the National Association of Realtors’ (NAR) commission lawsuit settlement agreement — was a massive change for real estate agents and brokers. 17 changes , many considered it best practice to contact an agent and verify this information. “If

Seller concession 370

Seller concession MLS Agents Sales 370

Housing Wire

AUGUST 27, 2024

17 , some MLSs have allowed agents to continue indicating whether their seller is willing to consider concessions. ” In late July, the California Regional MLS (CRMLS) announced that it would be removing the seller concessions-in-price data field from its platform.

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MLS Seller concession Agents Industrial 432

Housing Wire

JANUARY 17, 2024

Recently, Interested Party Contributions (or seller concessions) have been allowed with HECM for Purchase loans. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception.

Finance 482

Finance Seller concession Loan Officer Loans 482

Housing Wire

MAY 14, 2024

Last month, Clever surveyed a total of 920 Americans about their views of the home purchase process and real estate agents. More than 80% of recent buyers asked for at least one seller concession. The survey also delved into the use of real estate agents. Nearly 30% of recent buyers were not represented by an agent.

Seller concession 488

Seller concession Brokerage Agents Development 488

Housing Wire

OCTOBER 16, 2023

Not to mention the current mortgage rates at decades-high levels as well as sellers who are locked in with pandemic low rates. Here are the following strategies agents can use to guide first-time homebuyers toward achieving this monumental step. I’ll explain later.) Rate buy-downs are another option I recommend in this market.

Agents 435

Agents Seller concession Closing costs Mortgages 435

Inman

JULY 29, 2024

California Regional MLS will continue to allow agents to indicate whether sellers will consider concessions but will no longer have the option to specify a dollar amount or percentage.

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Seller concession MLS Agents 187

Housing Wire

MAY 30, 2024

Bright MLS , the nation’s second-largest multiple listing service, is set to overhaul its platform this summer to align with new standards stemming from the National Association of Realtors ’ recent settlement of the real estate agent commission lawsuits. Bright MLS also tells agents and brokers that commissions are negotiable.

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MLS Seller concession Agents As-is 448

RIS Media

JULY 30, 2024

In May 2024, the California Regional MLS (CRMLS) launched a new feature on its website called, “Concessions in Price.” This allowed listing agents to input and advertise the concessions, and contributions to the buyer’s cost burden, that their seller is willing to make.

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Seller concession MLS Agents Industrial 119

Realty Biz

JUNE 22, 2021

What to Know About a Seller Concession. Many terms get bantered around in real estate that either a buyer or seller may not know the meaning of. One such term is seller’s concessions. It is not uncommon at all for a client to ask what are seller concessions. What is a seller concession?

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Seller concession Closing costs Purchase and sale agreement Closing 128

RIS Media

MARCH 1, 2024

A new Bright MLS survey of 450-plus agents indicated that seller concessions have increased in the Mid-Atlantic housing market. Those interviewed consisted of agents who have worked with sellers in the past six months across the Bright footprint.

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Seller concession Marketing MLS Agents 128

Maximum Exposure Real Estate

JUNE 7, 2021

Everything You Need to Know About Seller’s Concessions Have you heard a real estate agent using the term “seller’s concessions” and wondered what it meant? Buying a home can stretch your finances to the limit, with closing costs that could be as much as 5% of the purchase price.

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Seller concession Closing costs Finance Closing 142

Housing Wire

FEBRUARY 9, 2021

Your real estate agent can help if you decide to go this route. Ask for seller concessions to make up for the increased price. Your agent can help pull these for you. You can also: Offer to split the difference. Offer free lease-back, letting them stay in the home while they find their new place.

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Earnest money deposit Seller concession Loans Lending 482

Realtor.com

NOVEMBER 15, 2022

One type of incentive that buyers—and sellers—can use is called seller concessions. Seller concessions occur when a seller agrees to cover the cost of things the buyer usually pays for, such as closing costs , title searches, property appraisals, and other fees. How do seller concessions work?

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Seller concession Purchase and sale agreement Closing costs Title search 121

Broke Agent Media

MARCH 16, 2023

BAM Key Details: A new Redfin report shows over 45% of sellers giving concessions to incentivize buyers, with a record 13% of sales involving both price cuts and concessions. Pandemic boomtowns, led by Seattle, have seen the biggest increases in seller concessions, which are most common in Las Vegas at 51.6%

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Seller concession Closing costs Sales Mortgages 98

Housing Wire

FEBRUARY 6, 2025

Beyond that, Deephaven allows up to 3% seller concessions at closing. How non-QM lenders can expand referral networks Like all professionals in the mortgage and housing industries, real estate agents ultimately want to help as many clients as possible. This loan type offers up to $2 million in financing. Its simple.

Loans 301

Loans Mortgages Equity Construction 301

Maximum Exposure Real Estate

JANUARY 4, 2023

Everything You Need to Know About Seller’s Concessions Have you heard a real estate agent using the term “seller’s concessions” or “selling concessions” and wondered what it meant? This can make […].

Seller concession 98

Seller concession Closing costs Finance Closing 98

Inman

MAY 29, 2024

The change allows listings in the California Regional Multiple Listing Service to display whether a homeseller is willing to offer concessions in price — including to cover broker fees.

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Seller concession MLS Brokerage Agents 183

Housing Wire

JULY 4, 2024

The role of real estate and mortgage professionals In times like these, the role of real estate agents , brokerage owners and lenders becomes even more critical. The question is whether it is becoming less attainable or merely obscured by market noise and confusion. Change is constant, and as professionals, we must adapt.

Pre-qualification 476

Pre-qualification Pre-approval Seller concession Finance 476

Housing Wire

SEPTEMBER 16, 2022

For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

SEPTEMBER 18, 2024

Reasons for opting out At the heart of the matter are NAR rules that, prior to the March 2024 settlement, required listing agents to make blanket offers of compensation to buyer agents on Realtor association-owned MLSs. These organizations say that making offers of compensation to buyer agents was optional but never mandatory.

MLS 482

MLS Brokerage Seller concession Agents 482

Housing Wire

MARCH 22, 2024

“Florida, like many places, is seeing the insurance piece of the component impacting people’s payments in a way that is making it hard to them to navigate the market,” said Cyndee Haydon , a Seminole-based agent for Future Home Realty agent. From 2022 to 2023 alone, rates rose 15%. It is very busy. Literally since Jan.

Marketing 448

Marketing Seller concession Due diligence Days on market 448

Inman

JULY 18, 2024

The attorney and broker dives into the nuances of seller concessions, steering, buyer agents' jobs, and avoiding future antitrust trouble ahead of his appearances at Inman Connect Las Vegas.

Seller concession 183

Seller concession Industrial Agents MLS 183

Housing Wire

FEBRUARY 19, 2025

Buyers agents are not just bright smiles that open doors were the guide our clients rely on to navigate the homebuying process. Thats why having a definitive homebuying checklist is an essential part of your agent toolkit. Related article Our 19-point house-hunting checklist for real estate agents & their clients 5.

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Closing Earnest money deposit Due diligence Pre-approval 228

Housing Wire

AUGUST 30, 2024

She believes the onus is on agents to “show up” for clients and communities rather than merely “showing off” past successes. Why is this distinction important for agents today? While these are important and have a place in marketing an agent or a brand, I think of these as “showing off.” Can you expand on that principle?

Branding 435

Branding Agents Technology Seller concession 435

Housing Wire

JUNE 25, 2024

Compared to years past when homes sold in hours for thousands above asking, 41% of millennials expect to negotiate with sellers , 26% of whom expect to lower their prices. There are three stages that agents and their clients need to be aware of. When this happens, it’s time to ask for some seller concessions.

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Staging Seller concession Finance Closing costs 396

Housing Wire

APRIL 12, 2023

Other challenges selected by mortgage professionals were relationships with real estate agents at 8.4%; competitiveness of rate sheet and underwriting problems at 5.8%; lender stability at 3.9%; competitiveness of product offerings at 1.9%. Lead generation ranked as the third biggest hurdle at 15.5%

Mortgages 414

Mortgages Loan Officer Marketing Seller concession 414

Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? As Realtors, we had to think creatively to help our sellers sell their homes. To think outside the box, some Realtors began using seller concessions. You are certainly not alone. In some areas of the U.S., In some areas of the U.S.,

Seller concession 76

Seller concession Closing costs Purchase and sale agreement Inspection contingency 76

Inman

JULY 17, 2024

California Regional MLS's general counsel talks offers of compensation, seller concessions, steering and buyer agency agreements ahead of his appearance at Inman Connect Las Vegas.

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Seller concession MLS Brokerage Agents 200