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Opinion: Sitzer/Burnett decision presents an uncertain future for buyer agents

Housing Wire

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?

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The Real Brokerage looks to build on 2023’s explosive growth

Housing Wire

With its supercharged growth over the past two years, it is no surprise that The Real Brokerage topped the 2024 RealTrends 500 Top Movers list for both transaction side count and sales volume. In 2023, Real recorded 48,905 sides, up 14,721 sides from 2022, and a sales volume of $21.2 billion, up $6.80 billion over the prior year.

Brokerage 458
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Guaranteed Rate’s new mobile app allows LOs to provide 24/7 service

Housing Wire

The PowerVP app will create new loans; invite customers to complete a digital mortgage; send a one-click conditional approval letter; lock in rates ; obtain real-time pricing and run a credit report, the company said in a release. Agents submitting an offer at 8:30pm?

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4 Reasons You Should Get a Mortgage Pre-Approval

RIS Media

If you’re just starting out with the home-buying process, you may want to get a mortgage pre-approval. This is a statement from a lender that informs you of a certain amount you are qualified to borrow, as well as a specific pre-approved interest rate. Not only will this help you, but to sellers and agents as well.

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How Andrew Marquis plans to close more loans in a low-inventory market  

Housing Wire

Even if I write seven pre-approvals a day, when there is one house and there’s 20 people that want to buy the same house, we still can’t do a lot of deals,” Marquis said. I know that sounds crazy, but we have a lot of clients reaching out for pre-approvals. But [production] levels are not pre-pandemic.

Loans 397
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Mortgage demand gets a boost as rates decline for three straight weeks

Housing Wire

“Purchase applications remain over 30% behind last year’s pace, but recent increases, along with data from other sources showing an uptick in home sales, is a welcome development.” New home sales also climbed in February for the third straight month, according to the U.S. February’s new home sales showed an uptick of 1.1%

Mortgages 410
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LenderLogix launches POS system for small- to mid-sized lenders

Housing Wire

LenderLogix, a provider of mortgage automation software and application programming interfaces (APIs), has launched LiteSpeed, a white-label streamlined point-of-sale (POS) system that serves small- to mid-sized mortgage lenders. The company was featured in HousingWire’s Tech 100 in 2022.