Housing Wire

DECEMBER 8, 2023

As a result of this scheme, the purportedly non-negotiable commissions of buyer agents are rolled into the sale price of homes. While this lawsuit is certainly not the only one making collusion allegations against many of the large national brokerages, it has one of the more robust lists of local brokerages as defendants.

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Brokerage MLS Branding Agents 432

Housing Wire

OCTOBER 4, 2023

California-based home equity investment firm Splitero launched its own real estate brokerage , Splitero Homes, this week. Our brokerage is unique,” Michael Gifford told HousingWire. “It’s He observes that the company is betting on a reasonably quick sale, at an increased price, drawing from the “ever rising market” theory.

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Equity Brokerage Agents Marketing 410

Housing Wire

AUGUST 2, 2023

Under the leadership of Mark Dilbeck, the company’s majority owner since 1998, the indie brokerage achieved $1.04 billion in sales volume last year, according to the RealTrends 500 rankings. Dilbeck was #373 in the nation by sales volume last year, and its agents averaged $2.99 million in volume.

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Brokerage Branding Agents Sales 370

Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. Presented by: Axis Technical Group.

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Lending Brokerage Mortgages Banks 397

Housing Wire

AUGUST 9, 2023

Fast-growing The Real Brokerage posted a $3.97 Poleg acknowledged the headwinds faced by the industry, telling analysts that elevated mortgage rates are stifling sales activity. Like many other brokerages , the firm is still in the red (it lost over $20 million last year). The brokerage now operates in 47 states in the U.S.

Brokerage 370

Brokerage Agents Title Lending 370

Housing Wire

DECEMBER 26, 2023

There is no question that the headline of the year in 2023 for many publicly traded brokerages was the commission lawsuits. With mortgage rates trending downward in recent weeks and economists expecting them to further recede in 2024, analysts are feeling guardedly optimistic about how the publicly traded brokerages will perform in 2024. “I

Brokerage 450

Brokerage Mortgages Agents Industrial 450

Housing Wire

AUGUST 11, 2021

Such are the ambitions of an array of companies today including Zillow and real estate brokerage Compass. of the sales price. The post Rocket announces discount real estate brokerage appeared first on HousingWire. One challenge to Rocket’s ambitions may come from the federal government.

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Brokerage Agents Lending Finance 421

Housing Wire

APRIL 27, 2023

Movement Mortgage has tapped Brady Yeager to join the team as national sales director, a role that will lead the expansion of Movement across the country. In his role as national sales director at Movement, Yeager will focus on the company’s growing sales team. At Cobalt, Yeager oversaw $5 billion in production.

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Sales Loan Officer Lending Residential 370

Housing Wire

NOVEMBER 15, 2023

However, as mortgage rates stabilize and home sellers adapt, “Existing-home sales will rise by 15% next year,” Yun said. By the end of 2023, year-over-year home sales will likely fall by 18% after a 17% decline from 2021 to 2022, Yun noted. In 2023, new-home sales are up 5% year to date, Yun said.

Sales 458

Sales New Construction Staging Mortgages 458

Housing Wire

JANUARY 10, 2024

It relies on examinations of agents’ sales for five major real estate firms in each of four geographic areas; out of a sample of 2,000 agents, 100 were selected randomly from each firm in each area. To Brobeck, the fact that so many agents rely on residential sales for occasional, marginal or supplemental income is a problem.

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Agents Sales Residential Commercial 432

Housing Wire

MARCH 15, 2024

Getting referrals and cozying up to the sell side Mike Kortas, CEO at NEXA Mortgage , sent a clear message to the over 2,300 mortgage LOs at his mortgage brokerage: “Keep your eyes open, keep your ears open, listen for opportunities that are going to present themselves, and be ready to assist more buyers.

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Industrial Seller concession Purchase and sale agreement Agents 504

Housing Wire

OCTOBER 11, 2023

These lawsuits threaten to radically reshape the residential brokerage landscape, and could be the catalyst for a fat decline in the annual commission pool as well as the industry shedding as many as 80% of agents, according to a team of analysts at Keefe Bruyette Woods. Who’s most exposed? But that statement comes with a big asterisk.

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Agents Purchase and sale agreement Brokerage Finance 479

Housing Wire

APRIL 26, 2024

HomeServices of America , the last remaining brokerage defendant in the landmark Sitzer/Burnett antitrust commission case , has agreed to pay $250 million in damages to settle lawsuits that will change agent compensation across America. billion in sales volume in 2023, behind only Compass , Anywhere Advisors and eXp Realty.

Brokerage 466

Brokerage MLS Agents Branding 466

Housing Wire

APRIL 9, 2024

In the past few weeks, seven agents formerly affiliated with Keller Williams — Jerri Moulder, David Bueker, Robert Hill, Kevin Ortiz, Edward Fordyce, Paul Davis, and Penny Alper — took legal action against the real estate brokerage by filing seven separate class-action lawsuits. District Court for the Northern District of Indiana.

Brokerage 450

Brokerage Agents Sales Industrial 450

Housing Wire

JULY 21, 2023

Maggie Wu has returned to Compass , and she’s bringing her four-person The W Team to the New York brokerage. In December 2021, she had left Compass to join the young brokerage SERHANT. With the move, Wu returns to where she began her career as junior partner on the Jing Chen Team in 2019. where she launched her own team.

Brokerage 369

Brokerage Investor Finance Technology 369

Housing Wire

JULY 28, 2023

Mauricio Umansky ‘s residential brokerage The Agency is venturing into core services. NAF offers numerous home financing options including conventional, jumbo , non-QM, as well as others. 18 brokerage in the country in the RealTrends 500 after reporting a total sales volume of $10.997 billion in 2022.

Brokerage 370

Brokerage Finance Lending Mortgages 370

Housing Wire

SEPTEMBER 29, 2023

According to the brokerage, 6.5% homes for sale posted a price cut during the four weeks ending September 24, up from 5.8% home sale price rose 3% year over year, reaching $420,846 in August, the largest annual increase since October 2022. the month prior. Due to a lack of supply, prices overall have been on the upswing.

Mortgages 508

Mortgages Principal Brokerage Finance 508

Housing Wire

MARCH 21, 2024

Redfin is expanding an agent compensation plan it launched last year by adding seven new markets starting in May, the national real estate brokerage announced Thursday. No other brokerage can offer agents a big traditional split and all the benefits, support, technology and customer introductions that we provide here at Redfin.

Agents 421

Agents Marketing Brokerage Technology 421

Housing Wire

AUGUST 17, 2023

The Consumer Finance Protection Bureau (CFPB) issued orders against Freedom Mortgage Corporation and Realty Connect USA Long Island for illegal kickbacks on Thursday, the first enforcement action associated with the 1974 Real Estate Settlement Procedures Act in six years. million fine.

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Mortgages Loan Officer Brokerage Title 370

Housing Wire

APRIL 17, 2024

This stabilization is possibly linked to a resurgence in property sales, hinting at a more buoyant housing market ahead. Moreover, the AMI reveals an upward trend in agents switching between brokerages, though the expected peak for March fell short of previous highs, the overall trend continues generally upward.

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Agents MLS Brokerage Industrial 421

Housing Wire

JANUARY 25, 2024

Per Inside Mortgage Finance estimates, the broker channel accounted for just above 16% market share from January 2023 to September 2023, lower than the correspondent (29%) and retail (55%) channels. Before joining AIME in 2020, she worked on sales and strategy at broker tech startup ARIVE.

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Lending Loan Officer Loans Mortgages 421

Housing Wire

DECEMBER 27, 2021

Because of that, and several other reasons, gross margins for real estate brokerage firms are declining with no real end in sight. for the largest brokerage companies in the United States. The first cause of the decline is the growth in competition for productive agents and a variety of new brokerages. Now, they’re at 13.5%

Brokerage 397

Brokerage Finance Short sale Agents 397

Housing Wire

APRIL 8, 2024

. “We think the premise of the thesis is misplaced,” Eric Hagen and Jake Katsikas wrote in the company’s weekly mortgage finance roundup. UWM’s total gain-on-sale margins increased to 92 basis points in 2023, compared to 77 bps in 2022. Margins were close to the 99 bps level before the Game On pricing initiative.

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Loans Loan Officer Mortgages Closing costs 412

Housing Wire

APRIL 24, 2024

The partner engagement program at Finance of America Reverse (FAR) aims to bring new people and professional relationships into the orbit of the nation’s top reverse mortgage lender, and it is spearheaded by Ryan Schmidt, FAR’s vice president of partner engagement. With the right ambassador, that task is made simpler. There are limits.

Mortgages 420

Mortgages Loan Officer Principal Loans 420

Housing Wire

NOVEMBER 16, 2023

This is extremely valuable information, not only for teams but also for the brokerage firms with whom they are affiliated,” says Steve Murray, senior advisor to HW Media. “A This is also in line with what occurs among brokerage companies, in general. in annualized revenue—the broader context remains one of continued activity.

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Brokerage Sales Agents Finance 409

Housing Wire

DECEMBER 6, 2023

Flat-fee real estate brokerage Fathom Realty will hike its agent fees in 2024 to bolster the company’s revenue by more than $3 million next year. The brokerage will implement two main changes to its fee structure, effective on Jan. An additional $250 will be charged for each $500,000 over a $1 million sales price. “We

Agents 421

Agents Brokerage Sales Finance 421

Housing Wire

MARCH 22, 2024

Additionally, like the three other brokerage firms that have already settled, Compass has agreed to make changes to its business practices as part of the settlement. Compass recorded $227.977 billion in sales volume in 2022, according to RealTrends data. “By settling, Compass is not saying that we did anything wrong.

Brokerage 458

Brokerage Agents Development As-is 458

Housing Wire

MARCH 12, 2024

In an announcement on Tuesday, the brokerage noted that it had expanded the program to more than a dozen additional markets, including Chicago, Los Angeles, Philadelphia, San Diego and San Francisco. This program rewards customers who commit to working with a Redfin agent early in the process, which is helping drive more sales for our agents.

Purchase and sale agreement 448

Purchase and sale agreement Brokerage Agents Closing 448

Housing Wire

NOVEMBER 15, 2023

“After careful consideration, Citizens has made the difficult decision today to discontinue originations in the mortgage wholesale channel,” Chace Gundlach, senior vice president and national sales director, said in letters sent to broker partners on Tuesday and reviewed by HousingWire. In the first half of the year, Citizens originated $2.4

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Banks Mortgages Finance Brokerage 441

Propmodo

MAY 26, 2023

When the topic of commercial real estate brokerages come up, images of “for lease” and “for sale” signs come to mind. Large brokerages like CBRE, JLL, and Cushman & Wakefield (who have market capitalization of $24 billion, $6.9 billion, and $1.8

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Commercial Brokerage Property Management Investor 75

Housing Wire

APRIL 25, 2024

Real estate brokerage eXp Realty has added industry veteran Wendy Forsythe to its leadership team. ” In 2023, eXp Realty agents closed 355,052 transaction side, earning the firm the top spot in the RealTrends Verified transaction side rankings, while the firm’s $143.578 billion in sales volume earned it the No.

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Marketing Branding Brokerage Staging 416

Housing Wire

AUGUST 16, 2023

Monterey Bay Properties is joining Compass , a move that will allow the brokerage giant to expand its Northern California operations, the company announced Wednesday. 1 ranked brokerage in the country by sales volume, after reporting $227.977 billion in sales volume in 2022, according to the 2023 RealTrends 500 rankings.

Brokerage 370

Brokerage Sales Agents Finance 370

Housing Wire

SEPTEMBER 15, 2023

Insurance executive Jawed Barna will succeed Sven Odia as the CEO of international luxury real estate brokerage Engel & Völkers , the company announced Thursday. billion in sales volume last year, according to the RealTrends 500 rankings. Dilbeck was #373 in the nation by sales volume last year, and its agents averaged $2.99

Brokerage 409

Brokerage Branding Equity Agents 409

Housing Wire

MARCH 15, 2024

With several of the major brokerage houses already having settled, NAR was in the untenable position of fighting to protect a business model that was already compromised by the settlements.” An industry insider at a top brokerage shared a similar sentiment. “We The days of door opening are over. Almost any time in history the U.S.

Industrial 450

Industrial MLS Brokerage Agents 450

Notorious ROB

OCTOBER 24, 2022

The market was crazy hot, and both mortgages and home sales were going stratospheric. Sales plummeted. They ended up having to fire sale their investment properties, sell their vacation home, and suffered enormously for years. And over the past few years, brokerages have done very well with this ancillary-revenue based model.

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Brokerage Bankruptcy Property Management Title 88

Housing Wire

AUGUST 4, 2023

The lawsuit was filed by Sarah Pierce, former executive vice president for customer experience, sales and operations at Better.com. Ultimately, Better laid off the agents in its real estate brokerage subsidiary, Better Real Estate LLC.

Finance 369

Finance Mortgages Brokerage Agents 369

Housing Wire

AUGUST 4, 2023

eXp World Holdings faced headwinds in the second quarter, as persistently slow real estate sales drove the company’s revenue down 13% year-over-year to $1.2 Sales volume also declined 16% from the second quarter of 2022 to $48.6 The brokerage revamped its eXpert Care Desk, which provides live support to agents 24/7.

Brokerage 370

Brokerage Agents Sales Mortgages 370