Housing Wire

MARCH 13, 2024

In a world enamored with all things digital and AI , one would think that real estate agents don’t serve any purpose, but it’s totally untrue. Moreover, the concept remains a central theme of some arguments contained in the plethora of lawsuits that are now carpet bombing the real estate industry.

Seller concession

Housing Wire

NOVEMBER 20, 2023

Real estate agents are facing a contracting issue that could seriously upend the traditional housing landscape. Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. But what happens if consumers pivot away from buyer agents altogether?

Pre-approval

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. 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.

VA loan

Housing Wire

AUGUST 19, 2024

17, 2024 , has come and gone, and the real estate industry is still plugging along, despite the business practice changes mandated by the National Association of Realtors’ (NAR) commission lawsuit settlement agreement now being implemented nationwide. I know quite a few agents it hurt. The landmark date of Aug.

Purchase and sale agreement

Housing Wire

JANUARY 17, 2024

Recently, Interested Party Contributions (or seller concessions) have been allowed with HECM for Purchase loans. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception. In fact, a veritable upheaval is headed for the housing market already.

Finance

Housing Wire

AUGUST 27, 2024

17 , some MLSs have allowed agents to continue indicating whether their seller is willing to consider concessions. We appreciate your understanding as we navigate the current challenges in our industry.” As of late July, CRMLS was not planning to remove this field.

MLS

Housing Wire

JULY 18, 2024

These criteria will assist regulators, consumer groups, and the industry itself to assess the fairness of new buyer agreements,” Brobeck said in a statement. Notably, the CFA recommends in the criteria that information about agent compensation should be listed at the beginning of the form and clearly labeled.

Seller concession

Housing Wire

AUGUST 30, 2024

She believes the onus is on agents to “show up” for clients and communities rather than merely “showing off” past successes. Why is this distinction important for agents today? Laura O’Connor: In marketing for any services industry, it is common to show that a provider has a lot of customers served.

Branding

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

RIS Media

JULY 30, 2024

In May 2024, the California Regional MLS (CRMLS) launched a new feature on its website called, “Concessions in Price.” This allowed listing agents to input and advertise the concessions, and contributions to the buyer’s cost burden, that their seller is willing to make.

Seller concession

Housing Wire

SEPTEMBER 18, 2024

Reasons for opting out At the heart of the matter are NAR rules that, prior to the March 2024 settlement, required listing agents to make blanket offers of compensation to buyer agents on Realtor association-owned MLSs. These organizations say that making offers of compensation to buyer agents was optional but never mandatory.

MLS

Inman

JULY 18, 2024

The attorney and broker dives into the nuances of seller concessions, steering, buyer agents' jobs, and avoiding future antitrust trouble ahead of his appearances at Inman Connect Las Vegas.

Seller concession

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

Housing Wire

JULY 4, 2024

The role of real estate and mortgage professionals In times like these, the role of real estate agents , brokerage owners and lenders becomes even more critical. As industry professionals, we have a responsibility to foster belief in the possibility of homeownership. However, this doesn’t mean the dream is out of reach.

Pre-qualification

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. In a high-rate environment, lenders call the temporary rate buydown a win-win strategy for both sellers and buyers when used appropriately.

Mortgages

Housing Wire

JANUARY 13, 2023

Going from a volatile rate environment in the latter half of 2022 to a market with lower, more stabilized rates, there’s optimism spreading across the industry that buyers will come back. Connie Kim: There seems to be optimism in the mortgage industry at the start of the new year. How have the first two weeks of January been?

Pre-approval

Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? As Realtors, we had to think creatively to help our sellers sell their homes. To think outside the box, some Realtors began using seller concessions. You are certainly not alone. In some areas of the U.S., In some areas of the U.S.,

Seller concession

RIS Media

MAY 30, 2024

Similar to CRMLS’ newly announced system field changes referring to Concessions in Price, Bright has announced that they will be including seller concessions in… The post Bright MLS Unveils System Changes for the Post-NAR Settlement Industry appeared first on RISMedia.

MLS

Inman

APRIL 17, 2024

Fannie, Freddie and FHA say sellers can continue to pay the buyer's agent's commission. But it remains to be seen if buyers will be allowed to finance their agent's commission into their mortgage.

Industrial

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. are offering freebies to attract buyers, thanks to the dampening effect of high mortgage rates, sellers in markets with severe housing shortages don’t need to.

Seller concession

The Close

DECEMBER 14, 2023

Gross commission income (GCI) is the full amount of money a real estate agent may receive in exchange for representing a buyer, seller, or both in a real estate transaction. But there’s much more to understanding this key calculation and why it matters to every real estate agent. Price negotiations can also affect your GCI.

Agents

HomeLight

DECEMBER 2, 2021

We detail what costs you’re likely to incur and what sellers pay on average. Kentucky-based Dianna Caldwell , a seasoned agent with 16 years of industry experience under her belt, gave us a rundown of seller costs and what homeowners should budget before they sit down to the closing table. Seller concessions.

Seller concession

Easy Agent Pro

SEPTEMBER 5, 2023

By becoming familiar with local market dynamics, setting realistic budget goals, and working alongside an experienced real estate agent, you can position yourself as a powerful and informed buyer. A larger deposit can give the seller confidence in your ability to close the deal and may make your offer more enticing compared to others.

Earnest money deposit

Broke Agent Media

MARCH 28, 2023

The dichotomy of the current market has some areas seeing multiple offers flood in while others are experiencing a slower pace and a rise in seller concessions. The tech industry is experiencing a high rate of layoffs. It’s important to note that even though these markets have cooled the fastest, they remain sellers’ markets.

Seller concession

BAM Media

OCTOBER 21, 2024

BAM Key Details: According to the newest consumer guide from the National Association of Realtors®, one of the first steps for sellers in working with an agent is negotiating and signing a listing agreement outlining the agent’s services, representation, and compensation.

Seller concession

HomeLight

NOVEMBER 30, 2022

With this shifting landscape in mind, arguably the most important first step in your homebuying journey is knowing how to pick a real estate agent. According to a National Association of Realtors report, 86% of buyers said their agent was a useful source of information when navigating the homebuying process. Get Started.

Agents

HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. So if your home sells for $450,000, you could spend anywhere between $27,000 to $45,000 in seller fees. Typical seller closing costs. Real estate agent commissions.

Closing costs

HomeLight

JANUARY 31, 2025

Well offer insights on how both sellers and buyers can save on closing costs. The Top 5% of Agents Sell Homes for Up to 10% More HomeLight analyzes over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs. Connect with your top agent matches today at no cost.

Closing costs

Realty Biz

DECEMBER 5, 2022

When a buyer wants to continue with the transaction, they will ask the seller for some concessions. Here are the steps you need to take: Meet With Your Real Estate Agent to Review The Inspection Report. Once the report from your home inspector has been obtained, send a copy to your real estate agent.

Inspection

Broke Agent Media

MARCH 20, 2023

But, in other markets, things are starting to shift for buyers—so much in some, that there’s even been an increase in seller concessions. Danielle Hale Realtor.com Chief Economist Takeaways for Real Estate Agents The current real estate market is complex and varied across the country.

Marketing

Broke Agent Media

JANUARY 13, 2023

Next up was the favorable jobs report and the Fed’s less than bullish response to it, followed by openly bearish Goldman Sachs projections and the increase in seller concessions. . Tune in to hear advice from both on what agents should be doing to prepare sellers and keep their clients well-informed. 00:00 – 01:59 Intro.

Seller concession

RIS Media

FEBRUARY 28, 2022

Flyhomes launched a national expansion as ‘Flyhomes for Agents,’ rolling out in several states.”. iBuyer “prep and repairs” fees drop: Called a seller concession, they decreased in 2021 to an average of 3.1% Knock continued its expansion from three markets at the end of 2019 to 71 markets in 2021.

Seller concession

Real Trends

JULY 11, 2022

Customers understand that the property address and a brief description are part of making an offer, but agents know there’s more to making an offer than that. Concessions. You are your customer’s best advocate when it comes to evaluating seller concessions. Terms of the offer. Education here is key.

Seller concession

HomeLight

APRIL 11, 2023

We talked to Colorado real estate agent Johnna Hall , who works with over 79% more single-family homes than the average agent in her Aurora market. Find a Top-Rated Colorado Buyer's Agent HomeLight can connect you with top agents in your selected Colorado market. When is the best time of year to buy a house in Colorado?

Fixed-rate mortgage

HomeLight

APRIL 17, 2024

They also estimate 1% in seller concessions if you list with them, but there’s no cancellation fee. In normal home sales, many real estate agents are negotiating rent-back periods for home sellers. You can work with local industry experts to help you set your home’s price. The advance is offered interest-free.

Seller concession

HomeLight

JULY 14, 2021

You’re in full-on house-hunting mode, viewing as many homes as you can, and your real estate agent takes you to see one that you think just might be the one. And although there’s a chance you’re going to notice the odor when you view the home, if the seller takes care of the problem before they list it, you might not ever know.

Seller concession

RIS Media

FEBRUARY 17, 2022

Flyhomes launched a national expansion as “Flyhomes for Agents,” rolling out in several states. iBuyer “prep and repairs” fees drop: Called a seller concession, they decreased in 2021 to an average of 3.1% Knock continued its expansion from three markets at the end of 2019 to 71 markets in 2021.

Seller concession