Tue.Apr 30, 2024

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NAR clarifies details on buyer broker agreements

Housing Wire

As the July deadline for the implementation of the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement approaches, the trade organization is looking to iron out some details about buyer broker agreements. Under the terms of the settlement agreement , agents will have to have a written agreement with a client in order to work with them as a buyer’s agent.

MLS 471
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Zillow offering 7-day ‘touring agreement’ for agents

Real Estate News

The NAR settlement does not address home search portals, but Zillow wants to make it easier for buyers to try out an agent in a way that aligns with new rules.

Agents 306
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CMO Coleen Bogle on strategic leadership in a higher rate environment

Housing Wire

The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2024 Marketing Leaders Leaders award are open now through April 30th, 2024. Click here to nominate someone. In the midst of a higher-for-longer mortgage rate environment that is reshaping the landscape of the mortgage industry, the role of a chief marketing officer (CMO) becomes increasingly pivotal as mortgage compa

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KW CEO on emerging from the wilderness, looking to the future

Real Estate News

Mark Willis returned to Keller Williams after a 7-year hiatus, and he’s ready to lead in a new way. “It’s not about proving myself. It’s about impact.

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278
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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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Home prices post largest gain in more than a year: S&P 

Housing Wire

Home prices were near an all-time high in February. The S&P CoreLogic Case-Shiller U.S. National Home Price Index posted a 6.4% annual gain in February, up from a 6% gain in January, according to the newest report released Tuesday. It was the largest annualized increase recorded since November 2022. On an annual basis, the 10-city composite index grew by 8%, up from 7.4% the previous month.

Sales 465
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Dallas agent breaks his own world record for home sales

Real Estate News

Ben Caballero isn’t slowing down. After landing in the Guinness book three times in his 62-year real estate career, he has achieved a new record.

Sales 278

More Trending

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What More Listings Mean When You Sell Your House

Keeping Current Matters

The number of homes for sale is playing a big role in today’s housing market.

Sales 310
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Rithm delivers $261M profit in Q1, continues to evaluate mortgage biz spinoff 

Housing Wire

New York-based asset manager Rithm Capital delivered a profit in the first quarter of 2024, with a positive performance from multichannel lender Newrez in the servicing and origination segments. Top executives at Rithm said they continue to evaluate taking the mortgage business public. On Tuesday, Rithm announced a $261.6 million in GAAP net income from January to March, compared to $87.5 million loss in the prior quarter, per Securities and Exchange Commission (SEC) filings.

Mortgages 422
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5 brokerage settlements receive preliminary approval

Real Estate News

Firms that settled in the Gibson/Umpa case in March and April will have until later this year to finalize the agreements, but more than 20 defendants remain.

Brokerage 217
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Kendall Bonner named vice president of industry relations at eXp

Housing Wire

A day after announcing major changes to its executive team, eXp Realty is once again shaking up its leadership. On Tuesday, the nation’s largest brokerage by transaction side count announced that it had named Kendall Bonner as its new vice president of industry relations. According to a company news release, Bonner “will focus on guiding eXp Realty agents through the significant shifts currently shaping the real estate industry, particularly in light of the recent National Association of Realtor

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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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KW CEO predicts downfall of indie model amid NAR settlement

Inman

Keller Williams president and CEO Mark Willis sat with Real Estate News to talk about his return to the Texas franchiser and how commission lawsuits could spark a new wave of brokerage and agent consolidation.

Brokerage 184
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FHFA releases fair lending final rule

Housing Wire

The Federal Housing Finance Agency (FHFA) this week released its fair lending final rule, following up on a proposal made last year in alignment with plans first laid out in 2022 by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The rule “addresses barriers to sustainable housing opportunities for underserved communities by codifying existing FHFA practices in regulation and adding new requirements related to fair lending, fair housing, unfair or deceptive acts or practi

Lending 396
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12 factors that convince a buyer to pay a full-service commission

Inman

Expressing your value to clients begins with knowing yourself, writes mega-team leader Carl Medford. You cannot articulate what you have never taken the time to determine on your own.

MLS 184
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Reverse mortgage professionals react to H4P rule changes

Housing Wire

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. In the newly proposed rules handed down in October, the H4P program would, in certain circumstances, allow for inclusion of an interested party contribution of up to 6% of a home’s sale price.

Mortgages 378
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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.

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Home prices surge to ‘near all-time highs’ amid rising mortgage rates

Inman

San Diego, Los Angeles, Washington DC and New York posted annual price increases for the third-straight month, with each of the cities S&P CoreLogic Case-Shiller tracks hitting record highs.

Mortgages 176
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15 million Americans still have medical bills on credit reports 

Housing Wire

Approximately 15 million Americans continue to grapple with medical debt on their credit reports, despite reforms implemented by Equifax , Experian and TransUnion in March 2022, the Consumer Financial Protection Bureau (CFPB) revealed in a study published Monday. As of June 2023, about 5% of Americans had unpaid medical bills on their credit reports, down from 14% in March 2022.

Loans 376
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AI, machine learning power lead-gen tool from Realeflow

Inman

Seller predictive analytics company Realeflow has announced its latest product, Leadflow AI Agent, a lead-generation solution to help residential agents be the first to know when someone wants to list a home.

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People on the Move: eXp promotes growth leaders; CB names marketing VP

Real Estate News

eXp elevates seven executives to support growth and agent success; Coldwell Banker brings on luxury marketing pro.

Marketing 184
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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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March rents grew dramatically in Chicago and these 4 other cities

Inman

Eighteen of the 50 largest U.S. metro areas witnessed rents rise on an annual basis in March, especially in the Northeast and Midwest, where a lack of rental supply is common and owning a home is costly.

Marketing 167
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FHFA Finalizes New Fair Lending Rules

RIS Media

The Federal Housing Finance Agency (FHFA) has announced its finalized Fair Lending, Fair Housing, and Equitable Housing Finance Plans to address barriers to sustainable housing opportunities. In a release, the National Association of REALTORS® (NAR) praised FHFA’s efforts to codify existing practices and programs. The new plans show a sustained commitment to remove obstacles to… The post FHFA Finalizes New Fair Lending Rules appeared first on RISMedia.

Lending 127
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Apartment List rolls out Lea Pro, a bot for lead conversions and tours

Inman

The artificial intelligence-fueled tool allows leasing agents and landlords to generate new leads more efficiently, providing speed without the need for additional personnel, among other benefits.

Agents 172
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Social Skills: How to Refocus Your Social Media Marketing if TikTok Gets Banned

RIS Media

Editor’s Note: Social Skills is a bi-monthly feature in RISMedia’s Daily News focused on social media and digital marketing tips, trends and solutions for agents and brokers. As the TikTok ban looms—with the Protecting Americans from Foreign Adversary Controlled Applications Act now signed into law and in motion—there’s many in the real estate industry that… The post Social Skills: How to Refocus Your Social Media Marketing if TikTok Gets Banned appeared first on RISMedia.

Marketing 127
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Boldtrail Backoffice - Take The Quiz to See What Package Is Right For You

BoldTrail BackOffice provides a single, streamlined solution to manage agent onboarding and billing and commission tracking and disbursements, along with agent management, reporting, and accounting - so your brokerage can run smoothly & profitably. Our #1-rated back office solutions have exactly what your business needs to deliver a seamless experience for your clients and your team.

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EXp Realty promotes Kendall Bonner to VP of industry relations

Inman

A year after moving from RE/MAX to eXp Realty, Kendall Bonner has been chosen to lead the brokerage's industry relations efforts. Bonner is also the leader of The Kendall Bonner Team in Tampa.

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Consumer Confidence Retreats in April

RIS Media

Consumers have been feeling the waves of unrest in the economy, with mortgage rates now back up above 7% and the PCE index—the Fed’s favorite measure of inflation—up by 2.8% year-over-year. Consumer confidence fell significantly in April, dropping from 103.1 in March to 97, according to the latest data from The Conference Board. After the… The post Consumer Confidence Retreats in April appeared first on RISMedia.

Mortgages 123
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The good, bad and ugly: Rating the media’s commission coverage

Inman

After the National Association of Realtors announced its proposed commission settlement in March, mainstream media covered the historic news with mixed results, an Inman analysis shows.

Brokerage 176
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The RE/MAX® Competitive Edge: An Unstoppable Network

RIS Media

Spotlights were shining down onstage, but it was Quintavius Burdette who lit up the arena during the opening session of the 2024 RE/MAX R4® convention, the brand’s annual global event known for its education and networking opportunities. Since the former Division I college football player began his career with RE/MAX® five years ago, he’s closed… The post The RE/MAX® Competitive Edge: An Unstoppable Network appeared first on RISMedia.

Closing 120
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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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Don’t let your feelings or bank account dictate your value

Inman

If you're having trouble conveying your value to clients, it may be because you don't believe in it yourself. Coach Darryl Davis provides the pep talk you need to take center stage as a client coach and advocate.

Banks 172
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Case Shiller Reports U.S. Home Prices ‘at or Near All-Time Highs’

RIS Media

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.4% annual gain for February, up from a 6.0% rise in the previous month. The data from the leading measure of U.S. home prices released April 30 shows that 18 out of the 20 major metro markets… The post Case Shiller Reports U.S.

Marketing 122
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Coldwell Banker icon Ralph Burnet receives final farewell

Inman

Coldwell Banker icon Ralph Burnet died on March 19, after a lengthy battle against kidney disease. Longtime friend and colleague Matt Baker reflects on his legacy.

Brokerage 167
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Kendall Bonner Ready to Innovate as New VP of Industry Relations at EXP Realty

RIS Media

The leadership shake-ups just keep coming out of eXp Realty. The company continues to lean on its cache of internal talent to carry its brand into the future. In its latest move on Tuesday, the brokerage announced that Tampa eXp Realty agent and team leader Kendall Bonner as vice president of Industry Relations. She will… The post Kendall Bonner Ready to Innovate as New VP of Industry Relations at EXP Realty appeared first on RISMedia.

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The 4 Most Impactful Actions to Take in Real Estate in 2024

Strategic real estate professionals know that the name of the game right now is to stay informed, adaptable, and ready to make confident decisions. In this free download, Inside Real Estate CEO, Joe Skousen, shares what he believes are the top 4 most impactful actions in real estate right now. We've been actively engaging with industry experts, analyzing data, and listening intently to the experiences of our agents on the ground.