August, 2024

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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 193
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Lower mortgage rates are slowing down inventory growth

Housing Wire

Have lower mortgage rates already started to slow down housing inventory? I have a simple weekly growth model with the Altos inventory data: when rates are high, over 7.25%, inventory should grow between 11,000-17,000 weekly. This has happened six times this year and even though that would be an average inventory growth level with higher rates, it didn’t happen even once last year.

Mortgages 518
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Michigan agents sue NAR over mandatory membership rule

Real Estate News

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.

MLS 337
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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 320
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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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Another downtown Seattle office tower is set for housing conversion

Seattle Times Real Estate

Officials are offering tax breaks and regulatory relief as fewer office workers return to once-busy areas. In Seattle, nearly a third of downtown office space is empty or available for sublease.

As-is 139
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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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Mortgage rates drop to lowest level of 2024

Housing Wire

The average 30-year fixed-rate mortgage dropped to 6.62% on Thursday, a new low for 2024 that appears to be tied to the expectation that the Federal Reserve could move to cut interest rates at its next meeting in September. This is according to data reported by Mortgage News Daily. On Wednesday, Fed Chair Jerome Powell indicated that a rate cut is a possibility after the September meeting if economic data continues to trend in the right direction.

Mortgages 518
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Gary Keller on winning in a market that’s ‘as bad as it gets’

Real Estate News

The Keller-Williams co-founder told a crowd of the faithful that he sees a soft landing for the economy and success for agents who are ‘ready to jump’ in 2025.

Land 322
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How Growing Inventory Benefits Today's Buyers

Keeping Current Matters

While the number of homes for sale varies by local area, nationally we’re up over 36% year-over-year, but still down almost 29% compared to what’s normal.

Sales 304
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Lynnwood light rail route brings a housing boom

Seattle Times Real Estate

The four newest Link light rail stations north of Seattle have been magnets for apartment construction, with more than 10,000 units finished or underway.

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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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Seasonal Home Selling Tips: How to Prepare Your Home for Sale in Any Season

RIS Media

Selling a home can be challenging, but with the right seasonal strategies, you can make your property stand out. Whether it’s fall, winter, or the holiday season, tailoring your home to the time of year can attract more buyers and potentially speed up the sale. I have put effort into giving you the best advice… The post Seasonal Home Selling Tips: How to Prepare Your Home for Sale in Any Season appeared first on RISMedia.

Sales 142
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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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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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Real estate’s day of change is here: 3 things to know

Real Estate News

Important practice changes required by the NAR settlement take effect today, affecting buyer agent agreements and compensation. “We are in this together.

Agents 314
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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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Mortgage Rates Down a Full Percent from Recent High

Keeping Current Matters

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability.

Mortgages 352
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Locals Call on Pol to Reduce Arrow Linen Rezoning, Back Fully Affordable Build

Brownstoner

As the controversial rezoning proposal for Arrow Linen’s site in Park Slope moves through the city process, advocates for a shorter, more affordable housing development say they have found a developer willing to build one. Their vision, they say, could yield more apartments than what is currently planned by Arrow Linen… Read More > The post Locals Call on Pol to Reduce Arrow Linen Rezoning, Back Fully Affordable Build appeared first on Brownstoner.

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WA joins antitrust suit against rent-setting software firm RealPage

Seattle Times Real Estate

Washington Attorney General Bob Ferguson’s office estimates that landlords have used the software to set rents for 800,000 Washington leases since 2017.

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Homie sues NAR and others, alleging boycott and conspiracy

Inman

The suit accuses NAR and major franchisors of breaking antitrust laws. The company's complaint includes alleged text messages in which agents refused to show Homie listings.

Agents 198
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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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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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‘We need to be debating from within,’ NAR CEO says

Real Estate News

On the Real Estate Insiders Unfiltered podcast, Nykia Wright pleaded with real estate pros to keep complaints in the family while pledging to earn their trust.

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Are There More Homes for Sale Where You Live?

Keeping Current Matters

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.

Sales 315
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August 17th Is Here: How to Thrive Under New Rules for Realtors

BAM Media

August 17th is upon us. And every real estate agent in the country knows what that means (or they should). The new rules NAR agreed to back in March are officially the law of the land for real estate agents in the U.S. Two key changes going into effect today: Offers of buyer agent compensation can no longer be included in the MLS (but sellers are still allowed to make such offers when discussing terms) Real estate agents must have a signed Buyer Representation Agreement before giving tours to

Brokerage 128
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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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Renton to review reparations case over school district’s 1968 land purchase

Seattle Times Real Estate

Renton resident John Houston is seeking financial restitution for the land he said his parents were pressed to sell to the Renton School District more than 50 years ago.

Land 119
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New forms aim to sidestep NAR settlement, law professor warns

Inman

In a new report, University of Buffalo contracts law professor Tanya Monestier details ways in which contracts allow buyer agents to collect more compensation than agreed-to with the buyer.

Agents 193
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Mortgage rates plummet and everything has suddenly changed — for now

Housing Wire

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans and in the mid-6% range for conventional mortgages.

Mortgages 514
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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 301
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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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Are We Heading into a Balanced Market?

Keeping Current Matters

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand.

Marketing 314
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Tips For Selling a House Quickly in Slow Months

RIS Media

Selling a house during slow months can be challenging. However, with the right strategies, it’s entirely possible to close a deal quickly. I have put significant effort into providing the best advice to achieve home sale success at the least ideal time. You will find information in these crucial aspects: Practical tips and strategies for… The post Tips For Selling a House Quickly in Slow Months appeared first on RISMedia.

Closing 140
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It’s Never Too Early (or Late) to Build a Team of Deal Finders. Here’s How To.

Bigger Pockets

Deal finding is one of the most important parts of real estate investing, yet a lot of investors struggle to put it together. Here's how you can form a stellar team of finders.

Investor 132
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Consumer group behind Moehrl flags commission workarounds

Inman

Doug Miller of Consumer Advocates in American Real Estate, the initiator behind the first bombshell antitrust lawsuit, sounds alarm against Realtor talking points that "continue steering.

MLS 193
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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.