Sat.Nov 04, 2023 - Fri.Nov 10, 2023

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Mother of all commission suits filed in Illinois, this time by homebuyers

Inman

"Batton 2," exponentially larger in scope than Sitzer | Burnett and the Moehrl commission suits, was filed last week in Illinois and takes aim at many of the defendants in another new suit called Gibson.

Brokerage 192
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6 Books for Real Estate Agents to Add to Their Wish Lists

Tom Ferry

Here are six of the best books for real estate agents to add to their holiday reading lists. The end of the year is here. As we walk into 2024, there are three things we need to work on cultivating more than anything else: focus, discipline, and inspiration. And there’s no better way to get […] The post 6 Books for Real Estate Agents to Add to Their Wish Lists appeared first on Tom Ferry.

Agents 106
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Don’t believe the doomsayers — buyer agency is here to stay

Real Estate News

Following the Sitzer/Burnett verdict, the internet has been buzzing about the end of buyer agency. Industry expert Russ Cofano says that's just a lot of noise.

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Reasons To Sell Your House Before the New Year

Keeping Current Matters

As the year winds down, you may have decided it's time to make a move and put your house on the market.

Marketing 359
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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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Property taxes have been rising. Here’s what it means for housing

Housing Wire

In many communities, homeowners and homebuyers have been hit with eye-popping property tax increases. It is costing more for schools and governments to pay for services. And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments. But opinions differ on how much impact higher taxes are having on local housing and mortgage markets.

Mortgages 541
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3 timeless strategies for agents to prepare for productivity in 2024

Inman

Believe it or not, there are less than two months left in 2023. And there’s no better time than right now for real estate agents to evaluate their recent productivity and establish the framework for success in the year ahead.

Agents 198

More Trending

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Homeowner Net Worth Has Skyrocketed

Keeping Current Matters

If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision.

Marketing 347
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Is this the beginning of the end of the housing market recession?

Housing Wire

While home prices in the U.S. held up in 2023, sales volume in the housing market cratered. Consumers care about home prices and mortgage rates; the industry cares about transaction volume. The industry is in a deep housing recession this year. If we get lucky with mortgage rates, though, we might just be at the bottom of the housing market recession right now.

Marketing 515
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Commission lawsuits are piling up. Keep track of them all right here

Inman

In the wake of the Sitzer | Burnett verdict, the number of bombshell lawsuits has rapidly multiplied — putting more pressure than ever on real estate's status quo. Here's a rundown of all the cases.

Brokerage 201
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Compass CEO expresses 'confidence' in commissions following verdict

Real Estate News

In the Q3 earnings call, Robert Reffkin said Sitzer/Burnett probably won't lower commission splits, highlighted the company's strength despite continued losses.

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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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Thinking About Using Your 401(k) To Buy a Home?

Keeping Current Matters

Are you dreaming of buying your own home and wondering about how you’ll save for a down payment? You're not alone.

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30-year mortgage rates see largest one-week drop in a year, reviving mortgage demand

Housing Wire

As 10-year Treasury yields tumbled, the average 30-year fixed mortgage fell 26 basis points in the week ending Nov. 9, the largest one-week decrease since last November. The 30-year, fixed mortgage averaged 7.5% as of Nov. 9, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down significantly from last week ’s 7.76% and up from 7.08% the same week a year ago.

Mortgages 488
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South Carolina homesellers latest in line to sue NAR, Keller Williams

Inman

A new commission lawsuit filed Monday seeking class-action status alleges sellers encountered "illogical, harmful, irrational and anticompetitive effects" of NAR's cooperative compensation rule.

Brokerage 190
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A post-verdict future is taking shape fast — here’s what to do

Real Estate News

More settlements and MLS changes are coming, the CEOs of NextHome and T3 Sixty say. Agents need training, and they’re not the only ones.

MLS 283
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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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How VA Loans Can Help Make Homeownership Dreams Come True

Keeping Current Matters

For more than 79 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes.

VA loan 331
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Have mortgage rates peaked for this cycle?

Housing Wire

After mortgage rates spiked to 8% in October, causing a riot in the real estate industry, we had an epic move lower in mortgage rates last week. Does this mean we’ve hit the peak in mortgage rates for this economic cycle? The history of economic cycles and mortgage rates would say yes, but only if the market believes the Federal Reserve is done hiking rates and being hawkish and the labor data gets softer from here.

Mortgages 508
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Sitzer | Burnett plaintiffs’ attorneys in talks with Department of Justice

Inman

Disrupting the National Association of Realtors' use of multiple listing services as a "vehicle for higher commissions" is at the center of talks, lawyer Michael Ketchmark told Inman exclusively.

As-is 190
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Post-verdict picture: Denial, anger and rethinking buy-side pay

Real Estate News

During a webinar, T3 Sixty leaders acknowledged that emotions are running high as they talked through potential implications of the Sitzer/Burnett verdict.

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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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VA Loans Help Heroes Achieve Homeownership [INFOGRAPHIC]

Keeping Current Matters

VA home loans can help people who served our country become homeowners.

VA loan 328
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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% down.

VA loan 482
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Exclusive Survey: 95% would pay a buyer agent under right conditions

Inman

A majority of potential buyers say they're open to paying their agents in the wake of legal threats to commissions, according to results from a joint survey conducted by Inman with Dig Insights.

Agents 190
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Seasonality, regional divergence key trends to watch

Real Estate News

Lance Lambert, former real estate editor at Fortune, discussed his theory of the market’s headwinds and tailwinds — and the “tug-of-war” they’re playing.

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256
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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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Op-Ed: Agent Commissions’ Possible New World: A Step Backward for Fair Housing

RIS Media

The United States real estate market is actually the envy of the world. The U.S. boasts the world’s most orderly, efficient and equitable housing market—and many other countries are attempting to emulate it. Our system’s efficiency is driven in large part by agents and brokers competing aggressively, while also sharing their listing information with each… The post Op-Ed: Agent Commissions’ Possible New World: A Step Backward for Fair Housing appeared first on RISMedia.

Agents 140
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Housing authorities and lenders added 54 homebuyer assistance programs in Q3: report

Housing Wire

A total of 2,256 homebuyer assistance programs are available in the U.S. housing market after 54 programs were added in the third quarter, according to Down Payment Resource (DPR), a homebuyer assistance program data and solutions firm. Among the available homebuyer assistance programs were 295 that allow borrowers to lower their interest rates by paying an upfront fee, according to DPR’s homeownership program index report.

FHA loan 482
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Inman reveals winners of inaugural Best of Proptech awards for 2023

Inman

In recognition of the entrepreneurs, venture capitalists and visionaries pushing real estate forward, the "Best of Proptech" honors cap the yearlong expansion of Inman's awards program.

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Brokerage on a mission gives millions back to military families

Real Estate News

In a Navy town, McKenzie Better Homes and Gardens Realty supports military families and veterans with more than the typical real estate services.

Brokerage 259
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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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Biden Administration Plans to Repurpose Commercial Properties Into Residential Units to Improve Affordability—Will It Work?

Bigger Pockets

Last month, the Biden administration announced a series of actions designed to facilitate the conversion of specific properties to improve affordability in several metros. Here are the details.

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5 strategies for smarter outreach, networking

Housing Wire

Between rising mortgage rates and soaring loan production costs this year, many lenders and brokerage leaders are reducing headcount to preserve their bottom line. As a result, many mortgage and real estate professionals may find themselves checking out LinkedIn , whether to search for a new position or make connections in anticipation of the future.

Mortgages 468
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Compass snags high-performing Rhode Island Sotheby’s team

Inman

The Blackstone Team is based in Providence and closed more than $95 million in sales volume last year. The team's move to Compass comes amid intense competition for top talent.

Closing 187
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Big rate drop could mean flurry of Thanksgiving home sales

Real Estate News

Mortgage rates took a dive this week, experiencing the largest one-week decline in a year.

Sales 324
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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.