Housing Wire
NOVEMBER 1, 2023
Zillow Group has entered into an agreement to acquire CRM system , Follow Up Boss , according to an announcement on Wednesday. The acquisition purchase price includes $400 million of initial cash consideration and up to $100 million in potential cash earnout. “Follow Up Boss is beloved by agents across the industry, including many Zillow Premier Agent partners and ShowingTime+ clients.
Keeping Current Matters
NOVEMBER 1, 2023
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Housing Wire
NOVEMBER 1, 2023
The real estate industry as agents and brokers know it has been turned upside down. It remains to be seen exactly what the guilty verdict in the Sitzer/Burnett commission lawsuit means for agents and brokers, as the industry waits for Judge Stephen Bough’s injunction. However, real estate brokers across the country have already begun preparing themselves, their firms and their agents for the worst.
Real Estate News
NOVEMBER 1, 2023
The home search giant’s latest acquisition will help support its “housing super app," said Chief Industry Development Officer Errol Samuelson.
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Don’t just react to changes, plan for them, so you can approach the new year with confidence, direction, and a competitive edge for your business. Having a well-defined business plan helps you chart a clear course, navigate challenges, and set a foundation for growth. This workbook gives you the key steps to outline what matters and will ensure you’re moving ahead.
Housing Wire
NOVEMBER 1, 2023
In addition to discussing Zillow’s financial results and the continual evolution of its Housing Super App vision on its third quarter earnings call, CEO Rich Barton and Zillow executives took time to address the elephant in the room: the verdict of the Sitzer/Burnett commission lawsuit. While the industry has yet to find out what Judge Stephen Bough’s injunction will say and the three defendants, the National Association of Realtors , Keller Williams and HomeServices of America , have vowed
Real Estate News
NOVEMBER 1, 2023
The Sitzer/Burnett trial may be over, but a final judgment — which could impact both monetary damages and commissions rules — is yet to come.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Real Estate News
NOVEMBER 1, 2023
During the Q3 earnings call, CEO Rich Barton discussed the Sitzer/Burnett verdict and how it could affect Zillow — and the industry as a whole.
Housing Wire
NOVEMBER 1, 2023
Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? In metros across the country, decade after decade, pre-internet and post-internet, buyer agents almost always get 2-3% of the sale price, paid by the seller, the researchers note.
Real Estate News
NOVEMBER 1, 2023
Despite cutting ties with NAR and touting its consumer advocacy, the brokerage is named in a new lawsuit similar to the Sitzer/Burnett and Moehrl cases.
Housing Wire
NOVEMBER 1, 2023
The newly-updated Fannie Mae November Selling Guide now bars job offers or contracts for future employment from family members or interested parties involved in a transaction. “We revised our policy to make it clear that when a borrower is scheduled to begin new employment under the terms of an employment offer or contract, the offer or contract cannot be for employment by a family member or interested party to the transaction,” the Selling Guide update explained.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
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Inman
NOVEMBER 1, 2023
Zillow has acquired Follow Up Boss, one of the industry’s more popular customer relationship management solutions.
Housing Wire
NOVEMBER 1, 2023
The Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% for a third time this year. However, with inflation still exceeding the committee’s 2% target and the economic growth rate nearing a two-year high, another rate hike in December remains possible. “In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tigh
Inman
NOVEMBER 1, 2023
Zillow is shoring up its Home Loans business by ratcheting up pressure on Flex agents, who refer clients to the mortgage arm or risk losing future leads, tech advisor Mike DelPrete writes.
Housing Wire
NOVEMBER 1, 2023
Just hours after securing a victory for his home seller clients in the landmark Sitzer/Burnett commission lawsuit, Michael Ketchmark, the lead attorney for the plaintiffs, filed another class action antitrust lawsuit against some of the real estate industry’s biggest players, in U.S. District Court for Western Missouri. Let’s break down the case and the potential implications for the industry.
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In the rapidly changing real estate landscape, achieving profitability requires a strategic approach beyond traditional methods. Our guide, "The 4 Pillars to Brokerage Profitability," outlines four essential pillars for scaling your real estate business: a seamless lead-to-close technology ecosystem, tailored integrated solutions for teams and agents, value-added success services and community support, and consumer-centric operations throughout the full homeownership lifecycle.
Inman
NOVEMBER 1, 2023
At virtual Inman Connect on Wednesday, Anthony Lamacchia of the Crush it in Real Estate training platform revealed the two most important points to share with clients in the current market.
Housing Wire
NOVEMBER 1, 2023
Mortgage applications fell for the third week in a row as mortgage rates surged toward 8%. For the week ending Oct. 27, total home loan applications fell 2.1% compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association (MBA). “The impact of higher rates continued to be felt across both purchase and refinance markets,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement.
Inman
NOVEMBER 1, 2023
Despite being praised as "matadorable" weeks before by a judge, the luxury CEO's performance of the Argentine tango on Halloween was not strong enough to get him the combined judges and audience scores needed to survive the competition.
Housing Wire
NOVEMBER 1, 2023
Appraisal technology company Accurate Group announced this week that it has acquired Voxtur Appraisal Services , an appraisal management company (AMC). Voxtur primarily serves real estate finance providers and specializes in broker-price opinions (BPOs), alternative valuation methods and traditional appraisals. Voxtur US sold 100% of the outstanding membership interests in Voxtur Appraisal Services to Accurate Group for $30 million, with $26 million paid in cash on closing, according to a news r
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As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.
Inman
NOVEMBER 1, 2023
Offerpad's agent partnership program gives agents another tool when making listing presentations, and pays them a 3 percent referral fee when their client accepts an offer from the iBuyer.
Housing Wire
NOVEMBER 1, 2023
Michael Gifford and David Zvaifler‘s home equity investment company, Splitero , lost its main investor, Redwood Trust , HousingWire has learned. According to an internal presentation deck, the startup had secured more than $1 billion in committed capital. Out of that figure, $750 million was supposed to come from Redwood, representing 75% of the total capital.
Inman
NOVEMBER 1, 2023
A group of prominent real estate voices laid out several actionable steps for building through a slow market at Inman Connect.
Housing Wire
NOVEMBER 1, 2023
Federal Reserve Chair Jerome Powell left the door open to a future interest rate hike on Wednesday, but most housing professionals are hopeful that the Fed may be done hiking interest rates for 2023. Tight financial and credit conditions, slowing inflation and high 10-year Treasury yields – the primary driver in the rise of longer-term interest rates – will likely discourage the central bank from a further rate hike this year, economists and mortgage professionals said.
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Now more than ever, brokers need to provide agents with the right tools, strategies, and training to effectively demonstrate their expertise, negotiate successfully, and foster strong client relationships. So – what should brokers do to ensure this? Invest in the right technology, continuous education, and innovative marketing strategies that empower agents to stand out in a crowded marketplace.
Inman
NOVEMBER 1, 2023
In her latest Inman Connect session, Get Social Smart Academy CEO Katie Lance explains the power of thoughtful planning, daily engagement and authenticity when creating a valuable social media strategy.
Housing Wire
NOVEMBER 1, 2023
Rates for a 30-year, fixed-rate mortgage are the highest in over 20 years and may stay elevated for some time. As borrowers reel from the sticker shock of conventional mortgages , lenders could see a surge of demand for alternative lending products, such as adjustable-rate mortgages (ARMs), for the first time since the financial crisis. Most potential borrowers should familiarize themselves with how these products work.
Inman
NOVEMBER 1, 2023
"You're in it for the career, not for the year," Kymber Lovett-Menkiti says as she leads this Inman Connect panel discussion about creating a thriving culture.
Housing Wire
NOVEMBER 1, 2023
Payroll connectivity platform Argyle and ICE Mortgage Technology have partnered to allow lenders access real-time income and employment data for borrowers throughout the loan origination process. The integration was built on the latest Encompass Partner Connect Application Programming Interface (API) and is available through ICE Mortgage Technology.
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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.
Inman
NOVEMBER 1, 2023
In this Inman Connect panel, Kymber Lovett-Menkiti speaks with business leaders about attracting and keeping the best of the best in 2024 by establishing a value proposition, creating exposure and cultivating culture.
Bigger Pockets
NOVEMBER 1, 2023
When it comes to the rabbit hole of real estate investing options, the word "turnkey" is among the most commonly used but poorly applied terms around. Here are seven common myths and why you should invest in these properties.
Inman
NOVEMBER 1, 2023
How can you level up your marketing with high-value offerings? Here’s Keller Williams VP and bestselling author Jay Papasan’s list of value adds that your sphere won’t soon forget.
Bigger Pockets
NOVEMBER 1, 2023
Darius Kellar went from making ten dollars an hour as a janitor to a real estate investor with over $1,000,000 in rental properties in less than a decade.
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