Sat.Apr 29, 2023 - Fri.May 05, 2023

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A Recession Doesn’t Equal a Housing Crisis

Keeping Current Matters

Everywhere you look, people are talking about a potential recession.

Marketing 253
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Is digital real estate the future, or a forced fad?

The American Genius for Real Estate

There are some trying to make digital real estate happen, including in places like the Metaverse. But will it actually catch on?

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Why Real Estate Agents Fail: Top 9 Reasons To Watch Out For In 2023

Kyle Handy

The real estate industry can be a rewarding profession, offering numerous opportunities for growth and success. However, despite the potential for lucrative careers, many real estate agents don’t make it past their first few years in the business. As a real estate agent, understanding the reasons behind this high failure rate can help you avoid making the same mistakes and set yourself up for a thriving career.

Agents 89
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Zillow begins ‘critical’ year with mounting losses, falling Q1 revenue

Inman

Zillow brought in $469 million in revenue, according to an earnings call Wednesday, falling 13 percent from the $536 million it brought in a year earlier during a period that preceded the rate hikes and sluggish sales.

Sales 158
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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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Fed Increases Rates Again, but Signals Possible Pause Amid Banking Turmoil

RIS Media

Deja vu has hit the nation as yet another Federal Reserve meeting yields further interest rate hikes after a major bank collapse over the weekend. Fed officials announced that they would raise interest rates by another quarter percent, pushing the federal funds rate between 5% and 5.25%—a 16-year high. The move marks the 10th consecutive… The post Fed Increases Rates Again, but Signals Possible Pause Amid Banking Turmoil appeared first on RISMedia.

Banks 126
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Housing Market Tracker: Spring inventory grows

Housing Wire

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The fear of not having an increase in inventory this spring should be put to rest. The other focus should be where mortgage rates go; only a little happened last week. Here’s a quick rundown of the last week: Active listing rose 8,260 week to week, down a bit from last week’s gain, but I’m not complaining — anything on the plus side is positive.

Marketing 524

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Inventory Constraints Contribute to a Dip in Pending Sales in March 2023

NAR: Economic Outlook

Pending Sales Dip in March 2023 NAR released a summary of pending home sales data showing that March's pending home sales pace fell 5.2% last month and 23.2% from a year ago.

Sales 105
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How Homeowners Win When They Downsize

Keeping Current Matters

Downsizing has long been a popular option when homeowners reach retirement age.

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Agent Recruiting Tips and Strategies in a Challenging Real Estate Market

Realty Biz

Words of wisdom from Recruiting Insight's Mark Johnson, one of the industry's top talent experts Since the onset of the COVID-19 pandemic, the real estate profession has been in flux. As a result, the period from 2019 through late 2022 has been an unprecedented roller coaster. Uncertainty and reactions to the pandemic gave way to a real estate boom market now threatened by a brutal downturn in the U.S. economy.

Agents 91
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Jobs data shows the labor market is normalizing

Housing Wire

Is the labor market finally normalizing? Jobs Friday data came in as a beat of estimates, but the labor market is clearly starting to come back to earth, killing the fear of 1970s wage spiral inflation. We’ve had a good week’s worth of data to show that the Federal Reserve is starting to get what it wants if you know where to look. The headline jobs data beat estimates, but we did have 149,000 negative revisions to the previous month’s data.

Marketing 501
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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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Bob Hale: 50 years at HAR, and the pursuit of greatness

Real Estate News

During his five decades as a member of HAR and 35 years as president and CEO, Hale has driven innovation in his organization and the industry at large.

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Reasons To Sell Your House Today [INFOGRAPHIC]

Keeping Current Matters

Not sure if selling your house is the right move today? You should know there are a number of reasons it still makes sense to sell now. Your house will stand out because inventory is low. That’s why the number of offers on recently sold homes is on the rise. And most homeowners have a lot of equity that can fuel a move.

Equity 244
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$5.48M mid-century sale is biggest Sierra Madre deal in 20 years

Inman

The 1975-era home closed at $1 million over asking, Inman has learned exclusively. Buyers have flocked to Sierra Madre, California, for its privacy and access to nature, as many people continue to work remotely.

Sales 167
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The 2023 housing market is at odds with itself

Housing Wire

A paradoxical picture is emerging as the spring market is underway. On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. On the other hand, inventory is still low, and homes are still selling fast, often with multiple offers. All major housing market metrics point to a restrained housing market.

Marketing 447
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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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Top brokers talk industry’s biggest challenges — lawsuit and all

Real Estate News

In a panel discussion, leaders of four fast-growing brokerages shared their thoughts on agent attrition, the commissions lawsuits and other hot topics.

Brokerage 256
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Buyer Activity Is Up Despite Higher Mortgage Rates

Keeping Current Matters

If you’re a homeowner thinking about making a move, you may wonder if it’s still a good time to sell your house.

Mortgages 249
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What agents need to know as the complex mortgage fee hike kicks in

Inman

Loan-level pricing adjustments — a fee on mortgages — led to widespread misinformation leading up to the May 1 hike. Inman spoke to experts about what the changes mean for homeowners.

Mortgages 167
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DataDigest: The remarkably resilient agent commission rate

Housing Wire

On Friday afternoon, my real estate agent called with good news. “Congratulations!” she said. “You just sold your house.” The agent wished me well and said that she would appreciate a review on her website. And that was that! A little backstory: The four-bed, 1.5 bath house in the Poconos showed well and I priced it very competitively – at $269,000.

Agents 435
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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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CTO gets Real about new AI tools, and risks

Real Estate News

ChatGPT is not hard to add to your site. The challenge comes in doing it the right way, so you don’t hurt your brand with “hallucinations.

Branding 261
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Why Buying a Home Makes More Sense Than Renting Today

Keeping Current Matters

Wondering if you should continue renting or if you should by a home this year?

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Keller Williams scoops up second Arizona-based indie of 2023

Inman

Twelve-year-old independent brokerage Tru Realty has joined Keller Williams, according to an announcement on Thursday. Tru Realty has generated $450.6 million in sales volume since 2021.

Brokerage 166
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Opinion: Setting the record straight on mortgage pricing

Housing Wire

Recently, the director of the Federal Housing Finance Agency (FHFA) issued a statement clarifying the agency’s rationale for changes to loan level pricing adjustment (LLPA) fees going into effect on May 1. The changes have created some controversy due to the fact that better credit quality borrowers will experience higher fees after May 1 than under the current LLPA grids and vice versa for lower credit quality borrowers.

Mortgages 435
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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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Bright MLS CTO Frank Major has died

Real Estate News

Frank Major is remembered as a “smart and kind” leader who served on the board of RESO and Byte Back, an organization working to close the digital divide.

MLS 239
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Improving a Credit Score to Help Buy a Home

RIS Media

If your credit has taken a bit of a hit, you must make changes to rebuild your score. With a higher credit score, applying for a mortgage with better terms and lower interest rates will be easier. This could give you the credit score needed to buy a house with the terms you want. Increasing… The post Improving a Credit Score to Help Buy a Home appeared first on RISMedia.

Mortgages 145
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Opendoor CEO Carrie Wheeler on Q1 earnings and the iBuyer’s future

Inman

The chief executive of the largest iBuyer spoke to Inman about Opendoor's first-quarter earnings on Thursday — and expectations that the company is turning a corner after a rough 2022.

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Market conditions no longer favor large SFR players

Housing Wire

The institutional single-family rental (SFR) market has expanded rapidly over the past decade as an alternative to homeownership, but it is now facing major headwinds in the form of a rapid jump in interest rates and still-high inflation compounded by decelerating home prices and rental rates. That’s the takeaway from a recent analysis of the sector by Kroll Bond Rating Agency (KBRA), an analysis that also is echoed, in part, by a recent report from ATTOM , a leading curator of real estate data.

Marketing 446
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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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Home prices up modestly, with bigger gains in the forecast

Real Estate News

CoreLogic’s home price report for March found that prices in the U.S. increased 3.1% annually, though gains (and losses) varied across the country.

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Mulch Matters! How Curb Appeal Can Spark (or Sink) a Sale

RIS Media

Just how exacting and inviting must curb appeal be for a home going on the market to achieve its full price potential? Alex Chingas, a REALTOR® with the Bross Chingas Bross team at Coldwell Banker Realty in Westport, Connecticut, tells this tale… “We recently had an appointment with a home stager to come look at… The post Mulch Matters! How Curb Appeal Can Spark (or Sink) a Sale appeared first on RISMedia.

Sales 141
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Redfin narrows losses as revenue falls 45% in first 3 months of 2023

Inman

Redfin's Q1 revenue declined 45 percent year over year to $325.7 million, as gross profits from its real estate services took a tumble amid a harsh housing market, according to an earnings call Thursday.

Marketing 158
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Rocket reports another big financial loss, but says there’s light at the end of the tunnel

Housing Wire

Elevated mortgage rates hurt Rocket Companies , the parent of Rocket Mortgage , again in the first quarter of 2023. Rocket has been cutting expenses and targeting purchase business, but the firm was unable to achieve profitability in Q1 in a shrinking mortgage market. The Detroit-headquartered lender sustained a $111 million adjusted net income loss in the first quarter, following a $197 million loss in the fourth quarter.

Principal 418
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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.