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 170
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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 514
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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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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 300
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Ready for the Post-NAR Lawsuit Landscape? Get the Broker Action Plan

Now more than ever, agents need 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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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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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 185
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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 500
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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 320
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The Number One Mistake Sellers Are Making: Overpricing Their House

Keeping Current Matters

In today's housing market, many sellers are making a critical mistake: overpricing their houses.

Marketing 282
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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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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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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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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 185
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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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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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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 313
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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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Understanding the Home Mortgage Payoff Process: A Complete Guide

RIS Media

Paying off a mortgage is a momentous financial achievement. It can happen during the process of selling a home or before. During a sale, homeowners often ask me when they should stop paying a mortgage. My guide will walk you through the entire process, from understanding your mortgage terms to updating your records. I will… The post Understanding the Home Mortgage Payoff Process: A Complete Guide appeared first on RISMedia.

Mortgages 140
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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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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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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 186
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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 511
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Nick Bailey returns to real estate leadership in new capacity

Real Estate News

The former CEO of RE/MAX and Century 21 says he will apply his experience helping franchise owners to his new role in real estate consulting.

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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.

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The Impact of Holidays on Home Sales

RIS Media

The holiday season is a unique time for the real estate market. Understanding how holidays affect home sales now can guide buyers and sellers in making informed decisions if they decide to enter the market at that time of year. I have provided detailed information to help potential home sellers whether it makes sense to… The post The Impact of Holidays on Home Sales appeared first on RISMedia.

Sales 142
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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 137
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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 180
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Oh snap! Michigan real estate brokers file antitrust suit against NAR

Housing Wire

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

MLS 489
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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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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 299
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The 9 Best Remodeling Tips to Follow

Realty Biz

Embarking on a home renovation project can be both exciting and overwhelming. Whether you're updating your living space for personal enjoyment or to boost its resale value, careful planning and execution are essential. The multitude of choices and decisions involved can feel daunting, but don't worry! Here are eight essential tips to help guide you through your home remodeling journey by experts in their fields.

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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