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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

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Buydowns become key for buyers to beat the market

Housing Wire

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. If the process is explained correctly to both parties, sellers and buyers will enjoy seeing each other win and accomplish the goals each party has,” Miller said. “It in the second year.

Marketing 469
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GCI: What It Is & Why It Matters to Every Real Estate Agent

The Close

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. Say you’ve got a seller concession of 2% of the sale price to cover the cost of some repairs. What Is Gross Commission Income?

Agents 94
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Will new products stop the bleeding for mortgage lenders? 

Housing Wire

Homepoint is in a tough spot. Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. In total, Homepoint said the cost reductions made in the second quarter alone should result in $31 million in savings on an annualized basis. Homepoint is hardly alone.

Mortgages 395
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How Much Does It Cost to Sell a House?

Redfin

Specifically, this is considered a presale or pre-listing home inspection since you, as the seller, are having the inspection performed. Keep in mind, if you are in a seller’s market , you may be able to sell your home with few, if any, repairs being made. Of course, every situation is unique, and your costs will vary. Home Inspection.

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What are the Pros and Cons of Flat Fee Real Estate Brokers?

HomeLight

He explains that “A flat fee brokerage charges up front, typically a flat fee of $3,000-$5,000.” While sellers can save money on that side of the transaction, he cautions that they’re still paying the buyer’s agent commission of 2%-3% at closing. The fruition of this benefit will depend on the agent and brokerage.

MLS 90
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Fees and Costs Associated With Selling a House in 2023

HomeLight

Depending on the price range of the home, I tell my clients that they need to be ready to spend 9%–10% of the sale price on selling costs, including the real estate agent commission and closing costs,” says Joanne McCoy , a top-selling real estate agent in Lincoln, Nebraska. It’s customary for the seller to pay both.)