Mon.Sep 18, 2023

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RE/MAX settles buyer broker commission lawsuits for $55 million

Housing Wire

Yet another national real estate brokerage firm has reached a settlement agreement in two of the major class action antitrust lawsuits facing the real estate industry. According to court documents filed on Monday, RE/MAX and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits.

MLS 491
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RE/MAX makes $55 million deal to settle commission lawsuits

Real Estate News

The settlement agreement leaves NAR, HomeServices of America and Keller Williams as defendants with an Oct. 16 trial date looming.

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Dark Matter Technologies execs talk transition from Black Knight, innovation in the mortgage tech space

Housing Wire

Dark Matter Technologies , formerly Black Knight Origination Technologies, is focused on mainly two things: the smooth transition to new owners, and lowering the cost to originate loans for lenders. Executives from Dark Matter Technologies, under the Constellation Software umbrella, said that a down market is the best time to make investments in technology and prepare for the next cycle.

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'Day of action' brings calls for change to NAR’s doorstep

Real Estate News

The NAR Accountability Project and its allies laid out their four-point plan during an event outside the organization’s Chicago headquarters on Monday.

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3 Real Estate Office Hacks to Help Kickstart the Busy Season

Ready to better your Back Office? Dive into the secrets to a powerhouse back office with Brokermint expert, Jessica Souza. In this free download, she shares her 3 transformative hacks designed to clean house, get everyone on the same page, and set yourself up for success. From optimizing agent profiles to ensuring flawless transactions and boosting agent retention, these strategies are your ticket to a seamless operation.

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Opinion: Are we facing the end of the Realtor marketplace?

Housing Wire

I have spoken numerous times over the past 35 years about the fairness and efficiency of what I refer to as the Realtor marketplace , which is a combination of a multiple listing service with Realtor association oversight, supported by a majority of brokerage firms and sales agents. The provision of abundant information with rules that govern the conduct of all market participants, whether Realtors or non-Realtors, serves all parties well.

MLS 432
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Compass aims to save agents 'time and money' with AI tool

Real Estate News

The brokerage has launched a new ChatGPT-based tool to help agents “accelerate their workflow” by crafting listing descriptions and more.

Agents 233

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Are More Homes Coming onto the Market?

Keeping Current Matters

An important factor shaping today’s market is the number of homes for sale.

Marketing 277
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Fannie Mae’s Stacey Shifman on the latest in mortgage tech

Housing Wire

When it comes to the latest innovations in housing tech, adaptability and continuous learning have become indispensable virtues for industry pros immersed in the world of mortgage tech. Fortunately, leaders like Stacey Shifman , vice president of consumer credit analytics at Fannie Mae, have perfected the art of maintaining a constant state of curiosity when it comes to tech.

Mortgages 431
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RE/MAX settles bombshell commission lawsuits for $55M

Inman

The deal resolves claims in both the Sitzer and Moehrl antitrust cases. The franchisor agreed to change its business practices, including "no longer forcing homesellers to pay buyer’s agents.

Agents 208
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How to protect your title company from wire fraud

Housing Wire

In today’s evolving technological landscape, wire fraud is a pervasive risk, particularly in real estate transactions. According to the FBI’s 2022 Internet Crime Report , the problem is only worsening, with an 86% increase in monetary losses in the real estate industry since 2020. For title professionals, understanding and countering this threat is paramount.

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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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NAR loses ‘Great Place to Work’ distinction on heels of Chicago rally

Inman

A rally at NAR headquarters in Chicago drew few Realtors on Monday, but organizers at the NAR Accountability Project declared a win nonetheless after NAR lost its "Great Place to Work" merit.

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Things a Plot Plan Tells You: Insights for Site Development

RIS Media

Are you wondering about all of the uses of plot plans? A plot plan is essential in land development, architecture, and construction. It provides a comprehensive visual representation of a property’s layout, indicating crucial details about its features, dimensions and relationships with surrounding elements. Understanding a plot plan is essential for buyers, sellers and real… The post Things a Plot Plan Tells You: Insights for Site Development appeared first on RISMedia.

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Is your love affair with real estate over, or do you just need a new gig?

Inman

Trainer and marketing expert Rachael Hite encourages agents who are considering making a move this fall to have a heart to heart with themselves, their finances, and give the serious business of making a move to a new team or brokerage this fall the consideration it deserves.

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RE/MAX Settles Commission Lawsuits, With Industry Bracing for Change

RIS Media

The dominoes continue to fall in the long-running but now fast-developing saga of real estate commission lawsuits, with RE/MAX the latest brokerage to settle, paying $55 million to resolve sweeping class action claims, according to an SEC filing today. In the brief statement to regulators, RE/MAX said the settlement was reached last Friday, and covers… The post RE/MAX Settles Commission Lawsuits, With Industry Bracing for Change appeared first on RISMedia.

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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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Tips for navigating cultural and language differences with international buyers

Inman

Some luxury real estate agents might be mystified that their Chinese buyers don’t want a home situated right beside a scenic lake or river. But for Janet Moore, Global Luxury Real Estate Advisor at Premier Sotheby’s International Realty, it would be fairly obvious that such a property is breaking a cardinal rule of feng shui. After all, she’s been representing luxury buyers in Asian markets for more than 12 years.

Agents 184
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Cities are Cracking Down on Short-Term Rentals—What Does It Mean For Investors?

Bigger Pockets

Nationwide, cities continue to impose new regulations on short-term rentals, effectively putting Airbnb hosts out of business in some areas. How can investors protect themselves?

Investor 120
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Unleash your brand’s potential: 5 tactics for online niche marketing

Inman

Tune in to this Inman Access episode and gain insider tips from Philip Hordijk on the importance of how to identify, cultivate and market to your own unique niche audience to build business.

Marketing 184
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Savvy Leadership and Collaborative Spirit Keep Realty Executives Growing Strong

RIS Media

Realty Executives International President, Patrick van den Bossche, facilitates a panel session on the “State of the Industry” with key broker/owners and Executives. When a few years ago Outlier CEO David Tedesco chose Patrick van den Bossche, with his 30 years of experience managing fast-growth, next-growth and startup firms, to lead Realty Executives International as… The post Savvy Leadership and Collaborative Spirit Keep Realty Executives Growing Strong appeared first on RISMedia.

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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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Head of LoanDepot’s retail division steps into newly created role

Inman

Dan Hanson, the former head of loanDepot's retail division, will develop "new revenue-generating opportunities" as the mortgage lender's executive director of enterprise partnerships and acquisitions.

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Midwest Team’s Collegial Atmosphere in College Town Propels Success

RIS Media

Above: Matt Winzenried, center, with his team Talk about taking real estate marketing to the next level… Matt Winzenried Real Estate Partners, a Madison, Wisconsin brokerage aligned with Realty Executives, showcases T-shirts, hoodies and sweatshirts featuring a stylized MW logo for sale on Amazon.com. While the agency leader’s plan wasn’t to have the clothing serve… The post Midwest Team’s Collegial Atmosphere in College Town Propels Success appeared first on RISMedia.

Brokerage 119
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How to navigate the fall housing market: What you need to know

Inman

Join Inman Access and tune in to today's video class featuring Matthew Gardner as he provides an informative forecast on the fall housing market and what to expect in the coming months.

Marketing 180
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3 Ways Real Estate Coaching Will Empower Your Team

RIS Media

The real estate market is anticipated to see a pent-up demand from eager buyers and sellers in 2024, according to many experts. Forming or strengthening your real estate team now, ensuring that everyone is aligned and following the same gameplan, will allow you to manage the leads coming in smoothly and efficiently. For the team… The post 3 Ways Real Estate Coaching Will Empower Your Team appeared first on RISMedia.

Marketing 119
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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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Delta Media Group aims for peak customization in new app release

Inman

Customizable and powered in part by artificial intelligence, Delta Media Group’s latest product release is ready to help the industry be more creative in a mobile environment.

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4 Valuable Situations to Use a Power of Attorney For Real Estate

Realty Biz

Are you wondering if setting up a power of attorney for your real estate transaction is a good move? In certain situations, a power of attorney for real estate becomes necessary. This legal document enables someone to handle property matters on behalf of another person when the principal cannot manage real estate affairs or deal with transactions from a distance.

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Mild recession, elevated mortgage rates eyed in 2024: Fannie Mae

Inman

Fannie Mae economists predict "mild recession" next year, but say mortgage rates may not ease as much as previously expected.

Mortgages 193
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Builder Confidence Weakens Due to Rising Mortgage Rates

RIS Media

Builder confidence in September fell below a reading of 50 for the first time in five months, according to new data from the National Association of Home Builders (NAHB). The NAHB/Wells Fargo Housing Market Index (HMI) found that builder confidence fell five points to 45 in September, following a six point drop in August—coinciding with… The post Builder Confidence Weakens Due to Rising Mortgage Rates appeared first on RISMedia.

Mortgages 112
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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.

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5 ways to soothe your team’s toughest growing pains

Inman

As COO of Livian at Keller Williams, here's what Erin McCormick Torres wishes she had known upfront about the challenges of building a large organization.

Brokerage 176
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Bay Ridge’s Quirky Gingerbread House Is Back on the Market, Asking $8.75 Million

Brownstoner

A fairytale-like abode in Bay Ridge is back on the market, looking for just the right buyer to succumb to its eccentric charms. Known affectionately as the Gingerbread House, in architectural terms the abode at 8220 Narrows Avenue is more properly Arts and Crafts in style with rubble stone walls… Read More > The post Bay Ridge’s Quirky Gingerbread House Is Back on the Market, Asking $8.75 Million appeared first on Brownstoner.

Marketing 111
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Buyers cancel contracts in droves as prices and interest rates soar

Inman

Nearly 60,000 home purchase contracts were canceled nationwide during August, according to Redfin's report.

Mortgages 180
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The Government Wants to Make FHA Mortgages More Accessible—How Will This Impact Investors?

Bigger Pockets

With housing affordability at all-time lows, the government is looking to increase the availability of these loans. What doors does this open for investors?

Investor 116
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Real Estate Solutions: How to Crush Your Sales Goals and Fuel Your Pipeline

Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty

The sales cycle in real estate is frequently measured at 3+ months. During this time, real estate agents frequently lose contact with clients and miss out on opportunities because they fail to follow up and provide value to the client. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities.