Wed.May 01, 2024

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The Texas-size problem with housing inventory figures

Housing Wire

More than 556,000 single-family homes were available for sale nationwide as of last Friday, according to the latest data from HousingWire sister company Altos Research. That puts the national inventory up 31.9% year-over-year, extending a 24-week streak of year-over-year increases. So are agents and brokers flush with home listings? Likely not, as listings are still a fraction of their pre-Covid levels despite the strong year-over-year growth.

MLS 488
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The Perks of Buying over Renting

Keeping Current Matters

Thinking about buying a home?

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New homebuyer commission lawsuit takes aim at HomeServices

Housing Wire

Less than a week after HomeServices of America settled the home seller commission lawsuits for $250 million , the firm again finds itself in the crosshairs of antitrust litigation. On Monday, homebuyer James Lutz filed a class-action antitrust lawsuit in a U.S. district court in Florida, accusing HomeServices and its subsidiaries, BHH Affiliates and HSF Affiliates , of conspiring to artificially inflate real estate agent commissions.

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HomeServices faces new buy-side commissions suit in Florida

Real Estate News

The filing comes just days after the company settled similar cases brought by sellers. The firm maintains its practices were “lawful and procompetitive.

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The 2025 Real Estate Roadmap to Success

Don’t just react to changes, plan for them, so you can approach the new year with confidence, direction, and a competitive edge for your business. Having a well-defined business plan helps you chart a clear course, navigate challenges, and set a foundation for growth. This workbook gives you the key steps to outline what matters and will ensure you’re moving ahead.

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Zillow believes the evolution of the industry will only help it grow

Housing Wire

In light of the jury verdict in the Sitzer/Burnett suit and the terms of the National Association of Realtor’s nationwide settlement agreement of the commission lawsuits , several prominent industry analysts believe Zillow will struggle with its financial performance. On Wednesday evening, during the firm’s Q1 2024 earnings call with investor and analysts, CEO Rich Barton took a contrary view: Zillow is just beginning to unlock its revenue generating potential.

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eXp hopes to stem agent losses with rev share updates

Real Estate News

During an earnings call, Glenn Sanford said he wants to help agents “in the middle,” while noting that revenue was up and touching on the commissions lawsuits.

Agents 222

More Trending

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Leveraging real estate tech to boost profits

Real Estate News

The Tech 200 highlights a range of products from 138 companies, with a focus on increasing productivity — and revenue — in a tight market.

Marketing 200
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Title premium volume fell 31% in 2023

Housing Wire

As existing home sales dropped to the lowest level it has seen in nearly three decades in 2023 , title insurance premium volume also took a hit. In 2023, the title insurance industry generated $15.1 billion in title insurance premiums, a 31% annual drop, according to the American Land Title Association’s Market Share Analysis , released Tuesday. In 2022 , the title industry generated $21 billion in premiums.

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Inaugural class of Inman Future Leaders in Real Estate revealed

Inman

The class of 45 honorees represents the real estate industry's brightest achievers under the age of 40. Future Leaders is the latest addition to Inman’s growing industry-leading awards program.

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The unchanging

Housing Wire

We lament over ever-changing rates , changing fees and guidelines. We change companies, processors, assistance and our workspace. Every area and facet of our industry , it seems, moves, and changes with the wind. It likely is part of what you like about your career. Each day has its own opportunity to be unique and come with its own interesting set of circumstances.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Largest minority and women-owned brokerage in US joins Real

Inman

The Atlanta-based Village Premier Collection, led by Cheri Benjamin, has joined Real under its Private Label program. The company has roughly 500 agents and closed $665 million in sales in 2023.

Brokerage 195
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Corcoran scores a touchdown as former NFL stars join teams in Nashville, New Jersey

Housing Wire

Corcoran expanded its talent pool this week and welcomed three new faces — two in Nashville and one in New Jersey. Former National Football League stars Andy Levitre and Marc Mariani have joined Corcoran Reverie , an affiliate of The Corcoran Group, in Nashville. The duo will be part of the Your Nashville Agent team under the leadership of Aaron Joyce.

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NAR clarifies when a buyer contract will be required under settlement

Inman

In an email, the 1.5 million member trade group specified when agents would have to have signed written agreements with buyers, but stressed NAR would not dictate the agreements' terms.

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Longtime reverse mortgage leader Scott Norman appointed CEO of Texas MBA

Housing Wire

Longtime reverse mortgage industry professional, advocate and leader Scott Norman has been appointed as the new CEO of the Texas Mortgage Bankers Association (TMBA). Norman is currently serving his fifth consecutive term as co-chair of the National Reverse Mortgage Lenders Association (NRMLA). He also works as vice president of field retail and director of government relations at Finance of America Reverse (FAR).

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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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Rates ease as Fed says it will dial back balance sheet tightening

Inman

Federal Reserve policymakers say they'll slow the pace of "quantitative tightening" to $40 billion a month, less than half the pace envisioned 2 years ago.

Mortgages 186
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All parties have settled the Sitzer/Burnett suit, so what’s next?

Housing Wire

When HomeServices of America reached a nationwide settlement agreement last week in the commission lawsuits filed by home sellers, it became the final defendant in the two original commission cases, Sitzer/Burnett and Moehrl, to do so. Just six months ago, when a Missouri jury found HomeServices of America, Keller Williams and the National Association of Realtors (NAR) liable for colluding to artificially inflate real estate agent commissions , the industry’s path forward was very murky.

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Zillow revenue up thanks to big gains in rentals and mortgages

Real Estate News

The company reported better-than-expected revenue of $529 million in Q1 — a 13% improvement from a year ago — and hinted at further monetizing its audience.

Mortgages 185
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Help buyers find their right-now home by selling the 10-block radius

Inman

No longer is finding the dream home the only consideration when looking for real estate. You must find a community fit for your buyers too, new Inman contributor Charles Banfield writes.

Brokerage 179
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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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Solving the Housing Crisis: What Lawmakers Must Do to Support Investors and Boost Housing Supply

Bigger Pockets

There’s a critical lack of affordable housing.

Investor 132
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More agents plan to switch brokerages in the coming year

Inman

Stronger lead generation systems and commission structures are driving more agents to consider switching their brokerage affiliations in the coming year, according to Coldwell Banker Real Estate's annual Agent Priorities Report published on Wednesday. In the survey of 1,500 agents, 39 percent said they plan to switch brokerages. That's a 56 percent increase from 2023 when 25 percent of agents said the same thing.

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Contractor Nightmares: 5 Red Flags to Watch For and How to Escape a Bad Hire

Bigger Pockets

What’s easier to find, a unicorn or a rock star contractor? If you asked most value-add real estate investors, the answer would be obvious: “Unicorns, of course.

Investor 130
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Hyatt, Hilton among those accused of price-fixing in new antitrust suit

Inman

A lawsuit filed last week in California alleges the hotel industry engaged in illegal price-fixing using AI software.

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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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HomeServices Hit by New Buyer Suit Days After Seller Settlement

RIS Media

HomeServices of America, after paying $250 million to settle seller suits and being dropped from the largest buyer suit, for a few short days was maybe the only large real estate company not directly facing commission litigation. That changed Monday, when lawyers behind the largest buyer suit (known as Batton) re-filed their accusations in a… The post HomeServices Hit by New Buyer Suit Days After Seller Settlement appeared first on RISMedia.

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Growth in residential, rental and mortgage segments lift Zillow in Q1

Inman

Zillow tallied growing revenue while stabilizing losses in the first quarter of the year as the reigning search portal narrowed in on its post-commission settlement strategy on Wednesday.

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Free Money? Can You Build a Real Estate Portfolio with Zero-Interest Credit Cards?

Bigger Pockets

Juggling 0% interest business credit cards is like juggling torches in a hay-covered barn. Drop one, and the whole place goes up in flames.

Finance 127
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Local Logic fine-tunes home search with new NeighborhoodMatch tool

Inman

The local intelligence company's latest tool automatically surfaces locations for homebuyers based on the homes they're already scrolled, offering an alternative to traditional search tactics.

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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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Parks | Pilkerton Adopts Cloze for AI-Powered Real Estate Platform

RIS Media

Cloze—a software company that delivers AI-powered real estate solutions—announced today that Parks | Pilkerton—Tennessee’s largest residential real estate company—has selected their platform for lead management, multi-channel marketing automation, and customer relationship management (CRM). Cloze’s robust AI capabilities will help Parks | Pilkerton agents and leadership increase productivity and lead conversion.

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Agents say their brokerage has their back amid commission mess

Inman

The NAR settlement shook the industry, but agents overwhelmingly told the Inman Intel Index they believe their brokerage has been an effective ally. It's a big win for brokerage training efforts.

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Home Prices Stagnate in The South and America’s New #1 Housing Market

Bigger Pockets

Texas and Florida are seeing stagnating home prices as housing inventory booms while demand slips away. Housing is still expensive, but with more inventory, why is it staying that way?

Marketing 124
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Inman Connect Miami: Hottest speaker lineup, hottest market

Inman

With an A-list lineup of speakers and applicable tools to stay competitive, you won't want to miss this HOT event taking place May 21-22.

Marketing 157
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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.