Housing Wire

NOVEMBER 5, 2024

Real estate appraisers also rely on MLS data, including information about buyer broker compensation and seller concessions, in order to accurately appraise properties for homebuyers and lenders. Going forward, Telford is expecting even more variation in seller concessions and agent compensation due to the terms of the NAR settlement.

Seller concession 370

Seller concession MLS Agents Sales 370

Realty Biz

JUNE 22, 2021

What to Know About a Seller Concession. Many terms get bantered around in real estate that either a buyer or seller may not know the meaning of. One such term is seller’s concessions. It is not uncommon at all for a client to ask what are seller concessions. What is a seller concession?

Seller concession 128

Seller concession Closing costs Purchase and sale agreement Closing 128

Housing Wire

MARCH 13, 2024

The theory is further dependent on every seller returning to each site following the sale to accurately enter the final sales price AND all seller concessions. Here’s a fact: tax records are frequently inaccurate on the actual sales price, and they never account for seller concessions.

Seller concession 468

Seller concession Agents MLS Sales 468

Housing Wire

OCTOBER 21, 2022

In times as tough as these, mortgage lenders must be proactive in borrower outreach and find consumers’ home finance needs if they’re going to close a deal, a new report by mortgage relationship data company Sales Boomerang concludes. Rocket launched a similar product in September.

Seller concession 370

Seller concession Mortgages Loans Finance 370

Housing Wire

MAY 20, 2024

While the settlement does not address this issue directly, the Department of Justice (DOJ) Statement in the Nosalek lawsuit does: Buyers would have the ability to request in their purchase offer that the sellers pay a specified amount to the buyer broker from the proceeds of the home sale.

Purchase and sale agreement 460

Purchase and sale agreement Agents Seller concession Closing costs 460

Housing Wire

MARCH 25, 2024

While this may be similar to how agents in some MLSs note that sellers are willing to provide concessions, Papasan made it clear that seller concessions and commissions are not the same thing. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

Purchase and sale agreement 468

Purchase and sale agreement Agents Seller concession MLS 468

Housing Wire

FEBRUARY 9, 2021

This leaves you with three options if you want to move forward with the sale. Ask for seller concessions to make up for the increased price. Change your closing date to a more convenient one for the seller. If you had an appraisal contingency in your sales contract, you could do this without any sort of penalty.

Earnest money deposit 482

Earnest money deposit Seller concession Loans Lending 482

Housing Wire

NOVEMBER 7, 2023

Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points. The Department of Veterans Affairs (VA) rules prohibit VA borrowers from paying real estate commissions.

VA loan 482

VA loan Agents Seller concession FHA loan 482

Realtor.com

NOVEMBER 15, 2022

One type of incentive that buyers—and sellers—can use is called seller concessions. Seller concessions occur when a seller agrees to cover the cost of things the buyer usually pays for, such as closing costs , title searches, property appraisals, and other fees. How do seller concessions work?

Seller concession 121

Seller concession Purchase and sale agreement Closing costs Title search 121

Broke Agent Media

MARCH 16, 2023

BAM Key Details: A new Redfin report shows over 45% of sellers giving concessions to incentivize buyers, with a record 13% of sales involving both price cuts and concessions. Pandemic boomtowns, led by Seattle, have seen the biggest increases in seller concessions, which are most common in Las Vegas at 51.6%

Seller concession 98

Seller concession Closing costs Sales Mortgages 98

RIS Media

MARCH 1, 2024

A new Bright MLS survey of 450-plus agents indicated that seller concessions have increased in the Mid-Atlantic housing market. Those interviewed consisted of agents who have worked with sellers in the past six months across the Bright footprint.

Seller concession 128

Seller concession Marketing MLS Agents 128

Housing Wire

MAY 30, 2024

Currently, listings can be marked as “coming soon,” indicating they are for sale but not yet ready for viewing. Ahead of these changes, Bright MLS will introduce a new field for seller concessions on June 11. Agents will be able to indicate whether a seller offers concessions and specify the amount in dollars.

MLS 448

MLS Seller concession Agents As-is 448

Housing Wire

FEBRUARY 6, 2025

Avoid financing, and you risk missing out on a sales growth opportunity. Beyond that, Deephaven allows up to 3% seller concessions at closing. Even if lenders find a good candidate for a loan, headaches may still ensue for lenders. Finance a loan, and you may lose money. This loan type offers up to $2 million in financing.

Loans 301

Loans Mortgages Equity Construction 301

Housing Wire

AUGUST 14, 2024

“We are changing our approach with a lot of things, and we are doing that with the collateral we put out, there is a video series we put out, and there are obviously conversation we are having with sellers on what it is they need to do, how it needs to be done and what their options are for doing it,” Harvey said.

Agents 448

Agents Seller concession MLS As-is 448

Housing Wire

NOVEMBER 20, 2023

Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. In order to survive, buyer agents will need to show this value to buyers and be willing to have clients pay a set fee or a pre-negotiated percentage of the sale price to secure the business.

Pre-approval 481

Pre-approval Agents Loan Officer Seller concession 481

Housing Wire

MARCH 27, 2023

In Austin, the total supply of for-sale homes rose 140% year over year in February — the second-biggest increase in the U.S., Pending sales also dropped by 40%. Pending home sales in San Jose also dropped 38% on an annual basis. Pending home sales also declined by 40% year over year in this market.

Industrial 397

Industrial Marketing Seller concession Sales 397

Housing Wire

NOVEMBER 16, 2022

With the rising rates throughout 2022, and the pace of home sales slowing as a result, many lenders are providing seller concessions to encourage buyers to strike a deal. Buyers are often using that concession to reduce their mortgage payments during the first one to three years through a temporary buydown,” Johnson said.

Seller concession 397

Seller concession Mortgages Lending Loans 397

Housing Wire

SEPTEMBER 16, 2022

For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month. UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

MARCH 14, 2024

“People are taking their time to actually come see things now instead of buying site unseen, and occasionally we see some seller concessions, but the traffic and the demand is still there; you might just work a little longer with people because we don’t have anything for sale,” Clarkson said.

Agents 459

Agents Seller concession Marketing Days on market 459

Housing Wire

APRIL 12, 2023

A total of 45% of participants said home sales in their markets will remain flat for the next three months; 30.3% said sales will go up more than 5%; and 25.2% expected sales to go down more than 5% In the latest report from the National Association of Realtors (NAR), existing home sales rose 14.5% About 47.1%

Mortgages 414

Mortgages Loan Officer Marketing Seller concession 414

Housing Wire

JUNE 25, 2024

Let’s take a closer look at appraisals, what they mean for a sale, and how to leverage the results to get your clients the best price possible. There are two primary reasons for home appraisals , both of which aim to ensure the rest of the sale goes smoothly. When this happens, it’s time to ask for some seller concessions.

Staging 396

Staging Seller concession Finance Closing costs 396

Housing Wire

MARCH 22, 2024

Unlike many other metropolitan areas across the country , the housing market in Southwest Florida is comparably flush with for-sale inventory. “I Normally, I would tell buyers that if they are 10% off the list price, they are dealing in different realities than the seller.”

Marketing 448

Marketing Seller concession Due diligence Days on market 448

Housing Wire

AUGUST 19, 2024

“The biggest difference is that sellers need to have the new format and commission structure explained to them fully and carefully,” said Rachael Dotson, an agent at Rhode Island-based Residential Properties Ltd. It is really leveling the playing field,” said Jason Posnick, the sales manager at Lamacchia Realty.

Purchase and sale agreement 476

Purchase and sale agreement Agents MLS Seller concession 476

Real Trends

APRIL 11, 2023

To think outside the box, some Realtors began using seller concessions. Whereas seller concessions make the home-buying process more affordable and exciting for potential buyers, while also maintaining the home and the community’s value. In some areas of the U.S., So, what do you do?

Seller concession 76

Seller concession Closing costs Purchase and sale agreement Inspection contingency 76

BubbleInfo

JULY 26, 2024

Brokerages are at the crossroads – they can either encourage sales with all buyer-agents, or go the same way as C.A.R. I think brokerages should stand up for all buyer-agents; not only because buyers deserve representation but it also gives us […] The post Advertising Seller-Concession Amounts first appeared on bubbleinfo.com.

Seller concession 59

Seller concession Brokerage Agents Sales 59

Redfin

FEBRUARY 20, 2025

Closing costs arent just a buyers responsibility – sellers have their own expenses to consider as well. On average, sellers can expect to pay between 6% to 10% of the sale price in closing costs , including agent commissions, transfer taxes, and title fees. What are closing costs for sellers?

Closing costs 56

Closing costs Closing Seller concession Title 56

Housing Wire

JUNE 6, 2023

Being conservative never hurts and being strategic about the market is important, Jared Sawyer, a sales manager at loanDepot , said. Especially when the seller is willing to give concessions, the buyer is able to get a credit for closing and contribute to buying down points. “I let them know their options.

Loan Officer 397

Loan Officer Loans Seller concession Pre-approval 397

Housing Wire

AUGUST 25, 2022

Home prices have remained stubbornly high , and there’s tens of billions of dollars in homes for sale beyond the conventional loan limits set by Fannie Mae and Freddie Mac. It comes at a time in which the housing market favors buyers and seller concessions become more frequent. Jumbo loan volume increased 3.1%

Mortgages 418

Mortgages Equity Loans Seller concession 418

Housing Wire

JANUARY 13, 2023

Training LOs and getting on sales calls with real estate agents, insurance agents and wealth managers are what Cohen is prioritizing to drum up sales in a market where he expects rates to be in the 5% levels. Kim: So would you say it’s a seller’s market right now? What does your day to day look like? .

Pre-approval 418

Pre-approval Marketing Seller concession Mortgages 418

Housing Wire

AUGUST 30, 2024

That’s where the magic is, and our industry needs to be recognized for all the contributions made which extend far beyond fiduciary responsibilities and other aspects of the home purchase – home sale process. Continuing to add value that supports our agents and their clients is what makes our job as brand leadership rewarding!

Branding 435

Branding Agents Technology Seller concession 435

Housing Wire

FEBRUARY 19, 2025

Explain current market conditions: Is it a buyers market, sellers market, or a more balanced market? Review comparable sales: Show your clients how a comparative market analysis (CMA) will be used to help them make an offer and determine the fair market value (FMV). During the tours, highlight features that meet their needs and wants.

Closing 228

Closing Earnest money deposit Due diligence Pre-approval 228

Broke Agent Media

MAY 31, 2023

of home sales during the three months ending April 30 involved seller concessions—just under February’s record high of 45.6% While sellers in some parts of the U.S. While sellers in some parts of the U.S. Seller concessions hit a record in February, with 45.6% and nearly double the 25.5%

Seller concession 52

Seller concession Closing costs Sales Mortgages 52

Redfin

FEBRUARY 18, 2025

These costs are in addition to the purchase price of the home (if you’re buying) or the proceeds from the sale (if you’re selling). Appraisal: The amount you can roll in is limited to the difference between the sales price and the appraised value. Seller concessions (up to 4%) Now, let’s talk about seller concessions.

Closing costs 52

Closing costs Closing VA loan Seller concession 52

HomeLight

MARCH 31, 2021

While researching the home sales process, you’ve likely come across the term “seller credit.” A seller credit is a type of seller concession where the seller offers the buyer money at closing to sweeten the deal. Seller credits are money the seller gives the buyer at closing.

Closing 105

Closing Seller concession Sales Closing costs 105

HomeLight

FEBRUARY 16, 2024

Limit or eliminate seller concession requests When crafting an offer that stands out, minimizing or completely avoiding requests for seller concessions can significantly boost your chances. While these can be helpful in some negotiations, they often act as obstacles in competitive scenarios.

Pre-qualification 115

Pre-qualification Seller concession Pre-approval Closing costs 115

HomeLight

JUNE 16, 2022

You’re likely wondering how much you might make on the sale, but also anxious about how much it will cost to make it happen. Days on the market or DOM is the number of days a property has been on the market from the time it’s listed for sale until the house is taken off the market with a signed contract. Get Estimate.

Seller concession 109

Seller concession Closing costs Inspection Agents 109

HomeLight

DECEMBER 2, 2021

We break down what the cost of a home sale could look like based on the average U.S. home sales price of $453,300, as reported by the Federal Reserve Bank of Saint Louis. Accounting for your payoff amount will help you determine how much cash you’ll net after your home sale closes. Sample seller expenses for a $453,300 house.

Seller concession 122

Seller concession Staging Inspection Renovation 122