Housing Wire

AUGUST 12, 2024

There are just five days to go until the business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement , but the trade association is not out of the lawsuit woods just yet. In a lawsuit filed on Monday by Douglas Hardy, Glenn Champion and Dylan Tent in U.S. District Court for the Eastern District of Michigan , the plaintiffs claim the requirement that all Realtors and brokers in Michigan be member of NAR, their state Realtor

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Real Estate News

AUGUST 12, 2024

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.

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MLS Agents 337

Housing Wire

AUGUST 12, 2024

Piggyback mortgages — those involving a first and second lien at origination — are on the rise among first-time and low- to moderate-income borrowers who face affordability challenges. This is according to a CoreLogic report published on Monday. The share of piggybacked Federal Housing Administration (FHA) home purchase loans rose by more than seven percentage points from June 2022 to June 2024, going from 10.8% to 18%.

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Loans FHA loan Equity Closing costs 476

Keeping Current Matters

AUGUST 12, 2024

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.

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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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Housing Wire

AUGUST 12, 2024

More evidence is emerging that the recent decline in mortgage rates is prompting more borrowers to refinance. In its July 2024 Market Advantage report released on Monday, mortgage technology firm Optimal Blue reported that refinance demand, measured by the level of locked loans, grew to its highest point since September 2022. Data from HousingWire ‘s Mortgage Rates Center shows that rates were in the midst of an upswing in September 2022, with the average rate for 30-year conventional loan

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Real Estate News

AUGUST 12, 2024

Saturday is the first day consumers can get details about their settlement options — and is a critical day for agents who want to be covered by NAR’s deal.

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Industrial Agents 242

Real Estate News

AUGUST 12, 2024

Despite market headwinds and uncertainty around practice changes, NAR membership has remained resilient, with big gains in Washington state.

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Housing Wire

AUGUST 12, 2024

Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. The divisional closure comes 1.5 years after the Texas-based lender changed ownership and nine months after it exited the reverse mortgage business. The company will focus on the third-party origination (TPO) space going forward. Employees told HousingWire, anonymously out of fear of retaliation, that leadership announced the closure of its branches during an “all-hands” call on Friday.

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Real Estate News

AUGUST 12, 2024

A real estate watchdog supplemented recent recommendations from the Consumer Federation of America with additional do’s and don’ts for buyers and sellers.

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Housing Wire

AUGUST 12, 2024

California -based HighTechLending , a top-10 lender in the reverse mortgage industry, recently announced that it was rebranding its wholesale channel to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers. One of the ways the company aims to continue making a name for itself in the space is by taking a “boutique” approach to its customer service and partner relationships.

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Industrial

Inman

AUGUST 12, 2024

The plaintiffs protest "compulsory" Realtor membership to access the MLS after the removal of "the guaranteed broker commission" from the MLS.

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MLS Agents Brokerage 200

Housing Wire

AUGUST 12, 2024

Many brokerage firms are trepidatiously moving to a model with no cooperative compensation in light of the impending business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement. Peter Voss at 3% Listing Co. is wondering what took them all so long to make the switch. Voss founded the Iowa-based 3% Listing Co. in 2023.

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Inman

AUGUST 12, 2024

Here’s how you can effectively guide your clients to the right financing options for their dream vacation home.

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Finance 193

Housing Wire

AUGUST 12, 2024

Realty ONE Group is making moves in Florida. The firm announced on Friday the affiliation of Florida-based MVP Realty Associates. Derek Carlson, the founder, CEO and broker of MVP Realty Associates, has been named CEO and broker of the new Realty ONE Group MVP. The firm has 10 offices and more than 1,200 agents throughout the state. “Joining Realty ONE Group MVP is not just a career milestone — it’s a strategic move towards empowering Realtors in a dynamic and forward-thinking enviro

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Agents Branding Technology Industrial 448

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Brokerage

Inman

AUGUST 12, 2024

A survey of hundreds of real estate agents suggests that "steering" based on commissions used to be rare. After the Aug. 17 deadline, it may become ubiquitous — but with buyers in the driver's seat.

Agents 182

Agents Brokerage 182

Housing Wire

AUGUST 12, 2024

While a U.S. district court judge in Pennsylvania may have denied its motion to stay the Moratis copycat commission lawsuit, defendant West Penn MLS is not backing down without a fight. In addition to filing a motion in June to stay the suit , West Penn MLS also filed a motion for dismissal, as the MLS defendant had opted into the nationwide commission lawsuit settlement agreement reached by the National Association of Realtors (NAR).

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MLS Agents Industrial As-is 424

Inman

AUGUST 12, 2024

A 50-year high in multifamily building starts and completions has led to cooling rent growth and better leases for renters. In July, 33.2 percent of rentals on Zillow included concessions — a 23 percent increase from 2023.

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Marketing 176

RIS Media

AUGUST 12, 2024

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.

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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.

Agents

Inman

AUGUST 12, 2024

After growing its agent count by 12 percent to 12,224, the flat-fee brokerage says it's poised for continued growth with new commission plans that pay agents a percentage of revenue generated by the agents they recruit.

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Bigger Pockets

AUGUST 12, 2024

How does a teacher with a LOW salary achieve financial freedom, let alone invest in real estate?

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Inman

AUGUST 12, 2024

A new report in "The Wall Street Journal" found that baby boomers had an easier time navigating real estate market challenges in the 1980s than millennials do today.

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Marketing Brokerage Agents 162

Bigger Pockets

AUGUST 12, 2024

The Fed is expected to cut rates next month, but that won't solve affordability problems anytime soon.

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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.

Agents

Inman

AUGUST 12, 2024

More agents are joining the National Association of Realtors ahead of the approaching Aug. 17 deadline for Realtors and MLSs to implement policy changes.

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Agents MLS Brokerage 159

Bigger Pockets

AUGUST 12, 2024

A couple of years ago, everyone was expecting an “Airbnbust,” where short-term rental investments would sit vacant, hosts would be forced to sell, and hotels would take the reigns as […]

Marketing 127

Marketing 127

Inman

AUGUST 12, 2024

MVP Realty CEO Derek Carlson said moving to Realty One Group will bring agents a variety of upgrades while leaving his company's core values intact.

Agents 153

Agents Brokerage Industrial 153

Bigger Pockets

AUGUST 12, 2024

You DON’T need to scale your real estate portfolio to start building wealth.

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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.

Sales

Inman

AUGUST 12, 2024

In the same week that the investment firm lost the Waldorf Astoria in Washington, D.C., to a foreclosure auction, CGI Merchant also had to let go of the Gabriel Miami Downtown in a foreclosure auction to an affiliate of Madison Realty Capital.

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Investor Marketing 153

Bigger Pockets

AUGUST 12, 2024

Many Americans struggle to afford housing and will continue to, making this one of the most surefire ways to keep your properties in demand.

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Inman

AUGUST 12, 2024

According to Van Conover, the Prevost motorhomes typically belong to "A-list artists, top of the top in the music industry, F1 racers and high-level entrepreneurs" who can customize the motorhome however they see fit from the floors, the color of the leather to the entire buildout.

Industrial 152

Industrial 152

RIS Media

AUGUST 12, 2024

As brokers stare down the barrel of the August 17 deadline, when changes agreed to by the National Association of REALTORS® (NAR) in its commission lawsuit settlement will go into effect, most are confident their agents are prepared to at least cover the basics of altered real estate rules and practices—things like updated forms and… The post Brokers Say Agents Not Fully Prepared to Communicate Value, Negotiate appeared first on RISMedia.

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