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 482

Pre-approval Agents Loan Officer Seller concession 482

Housing Wire

NOVEMBER 1, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Generally speaking, a buydown is a real estate financing technique that makes it easier for a borrower to qualify for a mortgage with a lower interest rate.

Seller concession 468

Seller concession Loan Officer Closing costs Mortgages 468

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

JANUARY 17, 2024

They own the home with their name on the title, as with any mortgage, traditional or reverse. They own the home with their name on the title, as with any mortgage, traditional or reverse. But the fact is, most people simply don’t know that a new home can be purchased with a reverse mortgage.

Finance 482

Finance Seller concession Loan Officer Loans 482

Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

Agents 435

Agents Seller concession Closing costs Mortgages 435

Housing Wire

MAY 14, 2024

Last month, Clever surveyed a total of 920 Americans about their views of the home purchase process and real estate agents. Even after navigating the climate of higher mortgage rates and a dearth of available listings, 82% of recent buyers had regrets about their purchase, Clever reported.

Seller concession 488

Seller concession Agents Brokerage Development 488

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. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4% Of the total, 36.1%

Mortgages 417

Mortgages Loan Officer Marketing Seller concession 417

Housing Wire

FEBRUARY 19, 2025

Buyers agents are not just bright smiles that open doors were the guide our clients rely on to navigate the homebuying process. Thats why having a definitive homebuying checklist is an essential part of your agent toolkit. Related article Our 19-point house-hunting checklist for real estate agents & their clients 5.

Closing 371

Closing Earnest money deposit Due diligence Pre-approval 371

Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. 5 reasons to refinance your mortgage right now. Your real estate agent can help if you decide to go this route. Ask for seller concessions to make up for the increased price. Your agent can help pull these for you.

Earnest money deposit 482

Earnest money deposit Seller concession Loans Lending 482

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

JULY 4, 2024

This article explores these issues and underscores the role of real estate and mortgage professionals in guiding clients through these turbulent times. 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.

Pre-qualification 476

Pre-qualification Pre-approval Seller concession Finance 476

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

Housing Wire

NOVEMBER 23, 2022

Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. It’s a terrible time for homebuyers.

Marketing 493

Marketing Loan Officer Loans Seller concession 493

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? While these are important and have a place in marketing an agent or a brand, I think of these as “showing off.” Can you expand on that principle?

Branding 435

Branding Agents Technology Seller concession 435

Housing Wire

JANUARY 13, 2023

Just two weeks into 2023, Guaranteed Rate ‘s top LO and managing director Ben Cohen has also seen an increase in inbound calls from buyers wanting pre-approval for mortgages. Read on for more about Cohen’s business strategies for 2023, his take on the housing market and what mortgage products to pay attention to this year.

Pre-approval 418

Pre-approval Marketing Seller concession Mortgages 418

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 76

Seller concession Closing costs Purchase and sale agreement Inspection contingency 76

Redfin

FEBRUARY 18, 2025

Can you roll closing costs into your mortgage? Your lender can explain their specific policies, the rules around this practice, and which costs are eligible to be rolled into the mortgage. Your lender can explain their specific policies, the rules around this practice, and which costs are eligible to be rolled into the mortgage.

Closing costs 52

Closing costs Closing VA loan Seller concession 52

Lighter Side of Real Estate

APRIL 29, 2025

What Is a Seller Concession? during the first quarter of 2025 included some form of seller concession. But what exactly is a seller concession? A concession refers to anything a seller provides to help reduce the buyers out-of-pocket costsnot including price drops or post-offer price negotiations.

Seller concession 57

Seller concession Closing costs Closing Inspection 57

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

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 198

Industrial Mortgages Finance Agents 198

Inman

APRIL 22, 2024

Anthony Lamacchia thinks some agents are reading too much into guidance issued by mortgage giants Fannie Mae and Freddie Mac confirming sellers can continue to pay buyer's agents' commissions.

Mortgages 189

Mortgages Agents Seller concession Finance 189

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 52

Seller concession Closing costs Sales Mortgages 52

HomeLight

FEBRUARY 16, 2024

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Partner With a Top Buyer’s Agent to Guide You HomeLight can connect you with a top-rated local real estate agent familiar with non-contingent offers. Get Started 1.

Pre-qualification 115

Pre-qualification Seller concession Pre-approval Closing costs 115

Real Trends

NOVEMBER 2, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Generally speaking, a buydown is a real estate financing technique that makes it easier for a borrower to qualify for a mortgage with a lower interest rate.

Seller concession 109

Seller concession Loan Officer Closing costs Mortgages 109

HomeLight

JUNE 16, 2022

It’s usually easier to sell a home when you partner with a reliable agent. A top real estate agent from California, Robert Lopez, who’s an agent with Team Z , explains the value a real estate agent brings to your home sale, “Your agent takes on photography and marketing. Seller concessions.

Seller concession 109

Seller concession Closing costs Inspection Agents 109

Redfin

JANUARY 10, 2025

Home equity Home equity is a term that measures the value of a home to its owner after all debts and liabilities (like a mortgage ) have been paid. Amortization is a term that describes the gradual paydown of a mortgage through on-time monthly payments.

Seller concession 59

Seller concession Equity Closing costs Renovation 59

HomeLight

JUNE 14, 2022

What are common expenses for home sellers in Seattle? Ann Nordling , a top real estate agent from Seattle who works with over 70% more single-family homes than the average area agent, notes the cost to sell a house in Seattle will vary on a case-by-case basis within a changing market. Buyer’s agent fee: $22,127-$26,553.

Seller concession 119

Seller concession Closing costs Agents Closing 119

HomeLight

JUNE 16, 2022

A top real estate agent from Massachusetts with nearly 30 years of experience, Laurie Cappuccio , explains the market, “We see a little bit of a slow down with increasing interest rates, but I have a listing now, and I’m getting multiple offers. We put a plan together for the seller. Real Estate Agent. Transactions.

Seller concession 110

Seller concession Closing costs Inspection Closing 110

HomeLight

JUNE 14, 2022

Real Estate Agent. Real Estate Agent at Compass. The average DOM in Chicago suggests a stable market for buyers and sellers. Santiago Valdez is a HomeLight Elite Agent who sells homes more than 56% quicker than the average Chicago agent. Seller concessions. Buyer’s agent fee $10,950 (3%).

Seller concession 110

Seller concession Purchase and sale agreement Closing costs Title 110

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 122

Seller concession Staging Inspection Renovation 122

HomeLight

MAY 31, 2022

Interest rates on 30-year fixed-rate mortgages reached their highest since April 2020. Next, we did some research and spoke with Jesse Allen , a top agent who sells over 50% more quickly than the average Jeffersonville , Indiana, agent, in order to break down how to calculate how much money you might walk away with after selling your home.

Seller concession 124

Seller concession Closing costs Staging Sales 124

HomeLight

SEPTEMBER 27, 2022

Nevertheless, Gina Candelario , a top agent who works with 78% more single-family homes than the average San Antonio, Texas, agent, says sales are good and it’s still a seller’s market. To illustrate, if you sold your Texas Craftsman home for $325,000, the seller’s costs could range from $22,750 to $26,000.

Seller concession 98

Seller concession Closing costs Homeowner’s association Title 98

Real Trends

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

Agents 105

Agents Seller concession Closing costs Mortgages 105

HomeLight

JANUARY 29, 2021

Mandatory costs include a long list of fees and taxes from involved parties such as the local and state government and mortgage lenders. Additional closing costs may include any seller concessions, attorney fees, and the buyer’s agent’s commission. You’re still likely on the hook for the buyer’s agent commission.

Closing costs 98

Closing costs Closing Seller concession Title search 98

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

JUNE 24, 2022

Contacting a local agent in your market is the most effective way of finding a true market evaluation,” says Marissa Papa , a Connecticut real estate agent with 18 years of experience. It’s a very prudent part of the process as an experienced agent can provide a comparative market analysis.”. Agent commission.

Seller concession 104

Seller concession Closing costs Inspection Homeowner’s association 104