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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

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. With the mortgage market rapidly shrinking – some experts believe it might contract to just $1.3

Marketing 464
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GCI: What It Is & Why It Matters to Every Real Estate Agent

The Close

Commission Rate (%) Home Sale Price Submit When & Why GCI Can Get Complicated The basic GCI calculation is pretty simple, but several situations can impact this otherwise straightforward formula, including your split, seller concessions, and more. A typical cap for a mid-sized, non-metro brokerage is between $20,000 and $30,000.

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

Housing Wire

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. But the reality is Homepoint – like some of its peers – is going to lose market share as it attempts to right the ship. Homepoint is in a tough spot. Homepoint is hardly alone.

Mortgages 392
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How Much Does It Cost to Sell a House?

Redfin

The housing market can vary day-to-day due to local factors such as supply and demand in your area and larger macro-economic factors such as how the U.S. This can be determined by having a comparative market analysis (CMA) completed on your home. . Home seller concessions . How much can I sell my house for? .

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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. Selling fee Typical % of sale price Real estate agent commission 5.8%