Mon.Aug 26, 2024

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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 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 334
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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 511
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Move accused of selling ‘fake leads’ in class action lawsuit

Real Estate News

Agents from six states allege that the parent company of Realtor.com sold dubious leads, and said NAR — also a defendant — was “complicit” in the scheme.

Agents 302
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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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Rocket rolls out temporary rate buydown for lower-income households

Housing Wire

Detroit-headquartered Rocket Mortgage on Monday rolled out a lender-paid 2-1 temporary buydown program for lower-income households. The program, dubbed “Welcome Home RateBreak,” is available to buyers purchasing a single-family home and earning 80% or less of their area median income (AMI). Rocket estimates the size of this segment at more than 90 million people.

Loans 501
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KW ‘best equipped to grow’ in post-settlement world

Real Estate News

Brokerages need to define their purpose in this new era, says Keller Williams CEO Mark Willis, and training, tech will be key to KW’s identity.

Brokerage 285

More Trending

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Buyers are snatching up starter homes

Real Estate News

Pending sales for all other tiers were down compared to last year, but entry-level homes attracted significant buyer interest in July.

Sales 277
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Inventory is declining in key markets

Housing Wire

Unsold inventory in the two biggest housing markets in the country, Texas and Florida, declined this week. There are fewer homes for sale now than a week ago. Inventory seems to have peaked for the season and is slowly inching down. There appears to be two reasons we’re seeing a seasonal peak in unsold inventory now, when last year inventory in these states didn’t peak until the end of November.

Marketing 468
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LPT Realty rolls out ‘Buyer Power Tools’ resource for agents, clients

Inman

The Florida-based brokerage's buyer-focused marketing and educational resources are made for agents in need of assistance as they pitch buyer representation services, executives told Inman.

Agents 197
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More lenders are being hit by EPO fees. There are strategies to avoid them

Housing Wire

Mike Roberts is about to make his first early payoff (EPO) penalty in two years after finding out that one of his clients refinanced a $355,000 loan with a 7.25% rate that Roberts closed in April. “The amount that we received in yield spread was 1.72%, which equates to $6,106,” said Roberts, co-founder and president of City Creek Mortgage. “He didn’t refi with us, so we are not making back money.

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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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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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Baby boomer retirements squeezed by rising home insurance costs

Housing Wire

The baby boomer generation is “slipping through the cracks” of the U.S. retirement system due to the rising prices of home insurance across the country, according to an analysis from online insurance marketplace Insurify. “A new source of financial strain on retiree budgets is homeowners insurance premiums, which have skyrocketed by 20% between 2021 and 2023,” the report stated, citing data compiled by the company.

As-is 468
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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 197
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Millennials want more space in the rental market

Housing Wire

As the housing market continues to be marked by high mortgage rates and record-breaking home prices across many U.S. regions, renting continues to play a pivotal role for millions of people. Currently, more than 44 million U.S. households rent their homes, a figure that is expected to continue to rise as economic conditions make homeownership less and less attainable.

Marketing 459
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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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Compass launches new division for older real estate consumers

Inman

The launch comes as the Baby Boomers race into their elder years, creating what some observers have referred to as a "silver tsunami.

Brokerage 195
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When rates skyrocketed, mortgage servicing reset the board. The next battle is about to begin

Housing Wire

When interest rates began skyrocketing more than two years ago, mortgage companies faced a pivotal decision regarding a crucial part of their business: the servicing portfolio. This period was a windfall for servicers. Rising rates typically slow down borrower prepayments, increase the fair value of mortgage servicing rights (MSRs), and enable companies to earn more interest on funds held in escrow accounts.

Mortgages 459
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HomeLight lands $20M, adds 40 new ‘Buy Before You Sell’ states

Inman

HomeLight is partnered with more than 10,000 loan officers and 28,000 real estate agents to offer Buy Before You Sell in 46 states and Washington, D.C. -- everywhere but Alaska, Massachusetts, New York and Rhode Island.

Land 193
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Starter home growth is sparking buyer activity: Redfin

Housing Wire

Affordable homes have long been in short supply for lower-income households, but data released Monday by Redfin showed positive signs for the starter-home segment. According to Redfin, pending sales of starter homes grew 10.2% year over year in July to reach their highest level since October 2022. This was in stark contrast to three other market segments that posted declines in the number of pending sales compared to July 2023.

Sales 448
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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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David Copperfield’s final New York act? The disappearing owner

Inman

A lawsuit filed in New York this month alleges that Copperfield abandoned his penthouse in a state of disrepair, leaving the Galleria's other residents to deal with flooding apartments and common areas below the unit.

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Rate’s reverse mortgage leader on product specialization and growth

Housing Wire

By maintaining a consistent posture that is informed by the dynamics of the traditional forward mortgage business, Rate ’s reverse mortgage division has seen notable growth in the year after the appointment of new leadership. Ryan Ogata, Rate’s executive vice president of reverse mortgage lending, previously described how his experience in the forward lending business helped to inform the way he approaches reverse.

Mortgages 448
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Agent experience has always been paramount. Now, it’s even more so

Inman

Consider these three tips for showcasing experience, skills and trust to prospective customers.

Agents 187
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Compass adds top-performing agent in Houston

Housing Wire

Compass is making progress on its goal of establishing a 30% market share in 30 of country’s top metro areas. The brokerage has expanded its roster in Houston with the addition of Natasha Simon, who brings $892 million in career sales across 1,200 transactions to the company. She was previously with LPT Realty, a Keller Williams affiliate. “It’s an exciting time to join Compass,” Simon said in a statement.

Agents 435
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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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Jeremy Wacksman on becoming CEO, leading Zillow into a new era

Inman

A week after being named CEO, Wacksman shared what it's like to take the baton from Zillow co-founder Rich Barton, the power of technology and the role portals play in a post-settlement world.

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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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Is speed to lead dead?

Inman

The best real estate lead isn't always the hottest or most time-sensitive one. Chris Drayer shares how to reach out and lead nurture in a way that's best for both you and your potential client.

Agents 176
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There Are More Renters Than Homeowners in Wealthy States—Why?

Bigger Pockets

Isn't it supposed to be easier to buy a home when you make more money? The data suggests that it's actually harder in many wealthier states.

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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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SERHANT. expands in Florida with Naples Concierge Group

Inman

The team addition will grow SERHANT.'s reach in Florida beyond existing markets of Miami, Tampa and Delray Beach. The firm has recently added 77 agents across all its markets.

Agents 174
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Corporate HQ Relocations Could Signal the Next Real Estate Boomtowns

Bigger Pockets

Are the next boomtowns being sought out by large corporations ahead of time? Do they know something you don't?

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Where listings are bouncing back — and where they’re not: Intel

Inman

Agents are having very different experiences in the Midwest compared to the coastal South. Intel breaks down two years of Realtor.com data to get to the bottom of this split market.

Agents 144
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Agents File Lawsuit Against Move for Selling “Fake Leads”

BAM Media

Join us at BAM Mania October 17-18 for actionable insights from industry legends, proven strategies for marketing that puts people before algorithms, and addictive entertainment from the funniest people in real estate. Vegas will never be the same. Sign up now before the ticket price goes up. BAM Key Details: On Friday, August 23, eight Realtors filed a lawsuit against Realtor.com’s parent company, Move.

Agents 122
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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.