Thu.Oct 12, 2023

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The End of Past Clients: Creating Forever Clients

Tom Ferry

There’s a big difference between past clients and forever clients. At this year’s Success Summit, I challenged attendees to a monumental mindset shift… I called for the END of “past” clients. It’s a minor distinction with a major impact. And I’ll explain why in this blog. Let’s get started. Shifting the Mindset Before I […] The post The End of Past Clients: Creating Forever Clients appeared first on Tom Ferry.

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Core inflation makes the case for a Fed pause

Housing Wire

Today’s CPI report was good because it shows core inflation, which the Fed cares about, is trending in the right direction. The Fed feels much better today because of all the rate hikes they have done to get the Fed funds rate above the growth rate of inflation. Last year, CPI core inflation was running at 6.3%, and shelter inflation was still higher even though the data line was set to cool down.

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Mortgage exec: Lower rates, ‘big refi move’ coming in 1-2 years

Real Estate News

Greg Schwartz, CEO of online lender Tomo and former head of Zillow’s Premier Agent business, sees some relief ahead for consumers — and a reckoning for agents.

Mortgages 295
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This startup wants you to radically reimagine the local handyman

Housing Wire

Though the home service industry is worth $500 billion, it remains a highly fragmented space occupied by a variety of players: independent contractors, platforms such as Angie , TaskRabbit , as well as white label concierge firms like LiveEasy. Vishwas Prabhakara has a new twist to offer. Through a membership system, his startup Honey Homes provides its clients, the homeowners, with the services of a dedicated, salaried handyman.

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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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Bay Area real estate veteran Rick Geha has died

Real Estate News

A respected team leader and speaker, Geha worked with giants Gino Blefari, Gary Keller and Glenn Sanford during his four-decade career.

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Princeton CEO Rich Weidel on the promise vs reality of mortgage tech

Housing Wire

Sarah Wheeler: In the past you said that technology isn’t a differentiator, it’s just an equalizer. Do you still think that? Rich Weidel: Yes, and even more now that we’re seeing in this down cycle which technologies provide value and which are just an expense. It wasn’t that long ago that technology was going to change everything. If you go and look at headlines from 2013-2014 — everything was revolution and transformation and technology was going to lower costs.

Mortgages 420

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Total Expert, Polly aim to help a lender identify customer opportunities faster

Housing Wire

Customer engagement platform Total Expert ‘s customer intelligence and mortgage tech firm Polly ‘s product and pricing engine (PPE) will help California-based lender Mountain West Financial identify lending opportunities from its existing database. By deploying customer intelligence from Total Expert — a customer engagement platform for financial institutions — Mountain West Financial will provide automated alerts that notify its loan officers in real-time when a customer’s beh

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Real humans are better than artificial intelligence

Inman

Although technology has its place, it simply can't compare with the human touch when it comes to marketing and running a real estate business. Broker Teresa Boardman differentiates the skills AI is good at from those that you can do better.

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How deal terms can affect a home’s value

Housing Wire

When we go through the brokerage valuation process, the product is Fair Market Value (FMV). This is essentially the home price that a willing homebuyer would pay a seller. Interestingly, though, FMV isn’t always the final purchase price in a lot of the deals out there. In mergers and acquisitions (M&A), nearly everything is negotiable, especially the purchase price.

Brokerage 411
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Mortgage rates hit 20-year high as demand ‘close to multi-decade’ low

Inman

Homebuyer demand for mortgages inched up slightly last week, as rates climbed to the highest level in more than two decades, according to the Mortgage Bankers Association's weekly survey.

Mortgages 191
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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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Bankrupt AmeriFirst Financial wants court to green light private sale of loans  

Housing Wire

Bankrupt retail lender AmeriFirst Financial is seeking approval for a private sale of loans from a Delaware bankruptcy judge to pay off two warehouse lenders and fund restructuring costs. If approved, AmeriFirst’s retail and commercial loans worth more than $5 million will be sold to a non-QM lender Oaktree Funding Corp., Inc. , according to a motion filed by AmeriFirst and holding company Phoenix 1040 LLC earlier this month.

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We’re in the middle of a perfect storm. But clearer skies are ahead

Inman

According to Brad Inman, real estate pros are facing a host of game-changing challenges to the status quo all at the same time. How we navigate this moment will be remembered for decades.

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Glennda Baker’s ‘Diamond Squad’ joins Coldwell Banker

Housing Wire

Metro Atlanta-based real estate broker and TikTok influencer Glennda Baker is making the leap to Coldwell Banker. Baker and her team of five agents , which serve the greater Atlanta market , were previously affiliated with Christie’s International Real Estate. “We’re thrilled to be partnering with a brand that shares so many of our same values,” Baker said in a statement.

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How to make your constructive criticism easier to swallow

Inman

Fostering a feedback culture sets the stage for greater collaboration and performance improvement across your organization. Luxury consultant Chris Pollinger offers the strategies you need to make it happen.

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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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Mortgage rates up to 7.57% this week on heels of strong jobs report: Freddie Mac

Housing Wire

Mortgage rates kept climbing for the fifth consecutive week, bringing average year-over-year rates 60 basis points higher. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year, fixed-rate mortgage averaged 7.57% as of Oct. 12. That’s up 8 basis points from 7.49% the previous week.

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Growing Your Net Worth with Homeownership

Keeping Current Matters

Take a moment to imagine where you want to be in a few years.

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The Loan Store offers consumer rewards program

Housing Wire

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. Buyers can save up to 40 basis points on any agency, government or non-qualified mortgage (non-QM) first-lien loans when working with a wholesale loan origination partner approved by The Loan Store, the Arizona-headquartered lender said.

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How to find (and harness) your distinct marketing voice

Inman

Knowing who you are and conveying your value with authenticity is an essential part of communicating with potential clients. The Agency's Rainy Hake Austin offers insights and strategies for making your marketing message resonate.

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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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Title industry examines risks, rewards of AI

Housing Wire

As existing-home sales continue to slide and mortgage rates rise ever higher, all but eliminating any hope for refinance transactions, the title insurance industry is doubling down on technology. At the forefront, is artificial intelligence , or AI. At the American Land Title Association’s annual ALTA One conference , several title industry experts and analysts have broken down the hype, use cases and risks posed by using AI.

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5 tips for nurturing hesitant buyers who can’t quite commit

Inman

Today's real estate market can present an intimidating and emotional challenge to hopeful buyers and sellers. Mauricio Umansky shares strategies for helping educate and reassure them so that they can get their needs met.

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Rithm increases to $676M its offer to acquire Sculptor

Housing Wire

Real estate investment trust Rithm Capital Corp. has increased its offer to acquire Sculptor Capital Management Inc. by 7.62% to $676 million amid competition from a group of investors and a dispute among the shareholders at the asset management firm. On July 24, Rithm said it struck a deal to acquire the New York-based company for $639 million, or $11.15 per Class A share.

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Knowledge is power: 4 must-watch virtual sessions at Inman Connect

Inman

Have you started your strategic real estate business planning for 2024? Inman Connect's virtual event, Nov. 1-2, offers two days of streaming knowledge.

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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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Mortgage rate lock volume plummeted 20% in September as rates soared

Housing Wire

Mortgage-rate-lock volume fell 20% in September, led by a combination of seasonal decline in purchase activity and rising interest rates, according to Optimal Blue ’s Originations Market Monitor report. September’s rate-lock decline continues a four-month trend of falling mortgage volumes, with month-over-month purchase locks down 20%, cash-outs down 17% and rate/term refinances down 18% in September.

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Broker Spotlight: Terri Munselle, The Agency Palm Desert

Inman

After a career as a retail home furnishings buyer in LA, find out how Terri Munselle transitioned to country club living and a new career in real estate.

Brokerage 151
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Inflation holds at 3.7%. Is it enough to dissuade the Fed from another rate hike?

Housing Wire

The Consumer Price Index (CPI) increased 0.4% month over month and 3.7% year over year in September for the second straight month, the U.S. Bureau of Labor Statistics reported on Thursday. The inflation data comes on the heels of a stronger-than-expected September jobs report. In comparison, the CPI rose 0.6% in August and 0.2% in July. With the next FOMC meeting on Nov. 1, investors are trying to make sense of the steady September inflation data and its impact on the Fed ‘s next rate-hik

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Zillow launches new feature for home search by school district

Inman

The feature, which is currently available only on Zillow's iOS mobile app, allows home shoppers to select a school district and then displays school attendance zone boundaries and homes available for rent or for sale within those boundaries.

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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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TransUnion to pay $23M to settle complaints of inaccurate tenant screening, security freeze failures

Housing Wire

The Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) have reached two settlements totaling $23 million with consumer credit reporting agency TransUnion , stemming from issues related to its rental background check reports and alleged failure to honor security freeze and lock requests, respectively. TransUnion “failed to take steps to ensure the rental background checks that landlords use to decide who gets housing were accurate,” and “withheld, from renters, the nam

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Glennda Baker and her ‘Diamond Squad’ head to Coldwell Banker

Inman

The Atlanta-based broker is leaving Ansley Real Estate with Christie’s International and taking her team, known as "The Diamond Squad," along with her to Coldwell Banker Realty, Inman has learned exclusively.

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Top 6 DIY Truck-Rental Companies Reviewed

RIS Media

Moving can be both an exciting and daunting experience. The thrill of a new beginning awaits, but the logistics of packing, loading, and transporting your life’s belongings can be overwhelming. Fortunately, there are DIY moving companies that can help alleviate some of the stress and expenses associated with relocation. We will explore the top six… The post Top 6 DIY Truck-Rental Companies Reviewed appeared first on RISMedia.

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Zillow Flex program’s success fee rises to 40%: DelPrete

Inman

Despite all the talk of alternative revenue streams, Zillow's latest money-making strategy is raising the price of its agent-based lead-gen offering.

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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.