Thu.Feb 02, 2023

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Experts Forecast a Turnaround in the Housing Market in 2023

Keeping Current Matters

The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year.

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Hawkish Fed couldn’t curb market optimism — and mortgage rates tumbled 

Housing Wire

The Federal Reserve Chairman Jerome Powell maintained a hawkish tone during his speech at a press conference on Wednesday afternoon — but it wasn’t hawkish enough to keep optimism from spreading across the markets as mortgage rates dropped closer to 6%. “Inflation remains well above our longer-run goal of 2% over the 12 months ending in December: total PCE prices rose 5%; excluding the volatile food and energy categories, prices rose 4.4%,” Powell told journalists. “While recen

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Rogers Healy pulls from Compass to hire first director of operations

Inman

The independent brokerage has hired Diyanna Ahuja to lead its team of more than 500 agents, who brings 2 decades of experience in luxury retail operations and real estate to the role.

Brokerage 157
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ICE Mortgage Technology is betting on increased sales for 2023

Housing Wire

Intercontinental Exchange (ICE) Mortgage Technology reported operating income of $57 million in 2022, down from last year’s $397 million — a reflection of the headwinds the mortgage industry is facing. The silver lining for the business was the strong sales in its Encompass loan origination software system in the fourth quarter, executives said in its latest earnings call on Thursday.

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3 Real Estate Office Hacks to Help Kickstart the Busy Season

Ready to better your Back Office? Dive into the secrets to a powerhouse back office with Brokermint expert, Jessica Souza. In this free download, she shares her 3 transformative hacks designed to clean house, get everyone on the same page, and set yourself up for success. From optimizing agent profiles to ensuring flawless transactions and boosting agent retention, these strategies are your ticket to a seamless operation.

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M. Ryan Gorman breaks silence on Coldwell Banker ‘termination’

Inman

In a Medium post published on Thursday, Gorman promised to lead by example with a shift into affordable housing projects while revealing new details about his departure from Coldwell.

Brokerage 157
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Apex Home Loans names Leo Anzoleaga as SVP of residential lending

Housing Wire

Maryland-based mortgage lender Apex Home Loans has appointed Leo Anzoleaga as its senior vice president of residential lending. In his new role, Anzoleaga will be tasked with generating more residential mortgage business, fostering business partnerships and improving customer experience. “What I’m most excited about in joining Apex is the opportunity to work with not only an industry leader, but also how Apex and I share the same vision around building community, cultivating an excellent team, a

Lending 344

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Pennymac sticks to its strategy as the market continues to shrink

Housing Wire

The California-based Pennymac Financial Services executives rightsized the company and invested in its servicing portfolio amid a shrinking market in 2022. Despite their efforts, profits still dropped to $475.5 million last year, down from $1 billion in 2021, the company reported on Thursday. In Q4 2022, the net income came in at $37.6 million, declining from $135 million in Q3 2022 and $173 million in Q4 2021.

Marketing 298
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Broker Spotlight: Megan and Damon Williamson, The Agency Dallas

Inman

Find out how Dallas Realtors Megan and Damon Williamson are combining their individual talents to grow The Agency's brokerage presence in Dallas, Texas.

Brokerage 157
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2023’s Housing Market Is Looking Up: 3 Things That Should Give Homebuyers Real Hope

Realtor.com

Photo-Illustration by Realtor.com; Photos: Getty Images (2) After suffering all-time lows during the COVID-19 pandemic, the supply of homes for sale has rebounded with a bang. January marked a whopping 65% more real estate listings than this same month a year earlier, according to a recent inventory report from Realtor.com®. And while home prices are still up year over year, they’ve declined from the pandemi4 GHJ43;;;;;;;;;;;;;;;;;;;;;;GHF///.HHH??????????????????????????????

Marketing 126
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Offerpad cutting more jobs in conjunction with $90M raise

Inman

The struggling iBuyer confirms the company has laid off an unspecified number of employees, with more details coming on the Feb. 22 fourth-quarter earnings call.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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Tips for Building a Good Credit Score to Buy a House

Realty Biz

The journey towards homeownership starts with a good look at your credit score. You'll likely need a mortgage if you can’t afford to pay for a house, like 87% of homebuyers in 2021. Lenders will look at your credit history to ensure that you can handle the repayment responsibly, so you need a good credit score for buying a house. Review Your Credit Report for Errors Everyone makes mistakes, including your credit reporting agencies.

Loans 117
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Does the commission lawsuit spell the end for NAR? The Real Word

Inman

This week, Byron Lazine and Nicole White are talking about year-end home sales numbers, Jason Oppenheim's commission lawsuit comments, and the weekly media review Left, Middle, Right.

Sales 157
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RPR’s top 10 Mobile Apps for Real Estate Agents

Realtors Property Resource

Does your techstack… lack? Juice it up with these ten recommended mobile apps for real estate agents, courtesy of RPR (Realtors Property Resource). The post RPR’s top 10 Mobile Apps for Real Estate Agents appeared first on Realtors Property Resource (RPR).

Agents 116
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SERHANT. says goodbye to top broker Tamir Shemesh

Inman

The motivation for Shemesh's termination was not immediately known and came just over one year after Shemesh and his four-person team moved to SERHANT. from Douglas Elliman.

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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

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Young Adults Moved Home, But Now are Moving Out

NAR: Economic Outlook

Young Adults Moved Home, But Now are Moving Out In 2022, 15.6% of young adults aged 25 to 34 lived at home with family. In 2020, those figures grew to the highest share recorded since 1960, 17.8%.

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Wells Fargo lays off 140 as it backs out of correspondent mortgages

Inman

In a Worker Adjustment and Retraining Notification, the company outlined its plans to reduce its workforce size. The company began executing the plan Tuesday in Springfield, Illinois.

Mortgages 157
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Types of Specialty Home Inspections Buyers Should Consider

Realty Biz

When you buy a home, you will likely have a general inspection. It's an intelligent thing to do as you get a good picture of what you're buying. Skipping a home inspection could lead to a purchase decision you'll regret. If you're lucky, there won't be any significant issues. On the other hand, you could quickly discover you've bought a lemon. While having a general inspection is wise, so is having additional specialty inspections that the home inspector will not provide.

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Court refuses Gary Keller’s request to merge John Davis lawsuits

Inman

A fraud lawsuit filed by Davis against Keller, Keller Williams and Josh Team will continue separately from a sexual misconduct suit filed by Inga Dow against Davis, Keller, and KW.

Brokerage 156
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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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Tom Brady Is Really Retiring—and Now You Can Rent His Tampa Home for $60K a Month

Realtor.com

Getty Images / Realtor.com It’s finally quitting time for Tom Brady. The famous quarterback just announced his retirement from the game that made him a household name. You may recall, he also said he was leaving pro football in 2022. But this time—he promises—it’s “for good.” Either way, Brady’s dazzling Tampa, FL , home, in the posh Davis Island section of the city, is up for rent.

Design 103
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ICYMI: Here’s a roundup of the trends, buzz and sage advice from Inman Connect New York

Inman

The biggest takeaway from ICNY for trainer and author Bernice Ross? Regardless of what the market does or whatever the latest whiz-bang technology is, the basics are still the name of the game when it comes to real estate.

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20 steps to a $1 million year in real estate

Real Trends

For some real estate agents, a $1 million year may sound like a pipe dream. But here’s the breakdown: $1 million gross commission income is equal to 100 transactions at $10,000 average commission, based on the national average of $400,000 sale price. If your average sale price is $750,000 then you’ll need 55 transactions. If your average sale price is $1 million, you’ll need about 40 transactions.

Brokerage 103
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Purplebricks is a ‘cautionary tale’ for all tech disruptors: DelPrete

Inman

U.K.-based Purplebricks remains one of the best examples in the world of a real estate disruptor going from zero to one, according to Mike DelPrete. Here's what we can learn from its journey.

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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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Buyers Were On Vacation

BubbleInfo

I don’t know how they get this information, but it helps to confirm what it felt like in the second half of 2022 – buyers weren’t interested.

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Essent scooping up Finance of America’s title businesses for $100M

Inman

The struggling lender's pivot to reverse mortgages creates an opportunity for the big private mortgage insurer to acquire Agents National Title and Boston National Title.

Title 120
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Lawrence Yun on The Fed’s Latest Rate Hike

Broke Agent Media

BAM Key Details On February 1, the Federal Reserve announced a 25 basis-point rate hike, the smallest hike since last March. Lawrence Yun stated, “that is good news” for homebuyers who have been waiting for mortgage rates to come down. As expected, The Federal Reserve announced a rate hike Wednesday afternoon. The 25 basis-point rate hike does, however, point to some positive news.

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How to Do Real Estate Market Analysis in 2023?

Marco Santarelli

Real estate market analysis involves evaluating the current market conditions and trends in a particular geographic area to determine the demand and supply of properties, as well as the overall economic conditions that may impact the real estate market. You can gain a better understanding of market conditions and make informed investment decisions by conducting a comprehensive real estate market analysis.

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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.

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Will ChatGPT Change The Real Estate Industry FOREVER?

Broke Agent Media

This week’s episode of The Walk Thru begins with a special gift from Byron Lazine and The Broke Agent to anoint the new BAM Captain, Dan (“Danny Deals”) Oneil. Then Byron, Dan, and The Broke Agent discuss the Tom Ferry Elite Retreat, their key talking points and takeaways, why Byron doesn’t do slides, and the morning routine behind BAM’s new daily news pod, the Hot Sheet.

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How to Find Off-Market Homes For Sale

Maximum Exposure Real Estate

Everything to Know About Off-Market Properties Are you ready to learn all there is to know about off-market properties? You probably want to know what an off-market property is and how to find them. Key things you’ll learn about: What are off-market properties? How to find off-market homes. Understanding real estate listing status terminology.

Sales 98
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Being Amazing is Really Hard Work

Broke Agent Media

I am amazing at my job. I am literally the Happiest Person in Real Estate : I have confidence in what I do, I perform at a high level, I’m an authority in my field, my time is managed well, I have great connections, serving others is my primary focus, I’m constantly learning and evolving, my life is balanced, and I’m in great shape physically, spiritually, and emotionally.

As-is 98
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Despite DOJ verdict, NAR isn’t out of the antitrust woods just yet

Real Trends

While the National Association of Realtors (NAR) certainly had cause to celebrate last Wednesday when Judge Timothy J. Kelly of the U.S. District Court for the District of Columbia ruled in its favor in the reopened Department of Justice antitrust investigation, the trade group isn’t out of the woods just yet. Despite the judge’s verdict, NAR still faces multiple antitrust suits filed by private parties , some of which the DOJ has already intervened in — and appears that the DOJ will continue it

MLS 97
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Real Estate Solutions: How to Crush Your Sales Goals and Fuel Your Pipeline

Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty

The sales cycle in real estate is frequently measured at 3+ months. During this time, real estate agents frequently lose contact with clients and miss out on opportunities because they fail to follow up and provide value to the client. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities.