Fri.Jun 16, 2023

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Despite obstacles, homeownership rate climbs for below-median income households

Housing Wire

Below-median family income households are overcoming constraints related to increased borrowing costs and home prices and are finding ways to become homeowners, according to Freddie Mac ’s latest economic, housing and mortgage outlook. The below-median family income homeownership rate increased to 53% from 48% since 2016, Freddie Mac said, citing data from the Census Bureau ’s Housing Vacancy survey.

Mortgages 418
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'What-if' scenarios in the commissions lawsuits, and how to prepare for them

Real Estate News

As several buyer agent compensation cases work their way through the court system, it’s time for brokers and agents to come up with a plan.

Agents 290
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MBA defends servicers on heels of HUD OIG loss mitigation report

Housing Wire

The Mortgage Bankers Association (MBA) is highlighting the challenges and successes that the COVID-19 pandemic created for mortgage servicers in response to a series of reports published this week by the U.S. Department of Housing and Urban Development (HUD)’s Office of the Inspector General (OIG). “[The] report from the OIG confirms what we all know – the COVID-19 pandemic presented unprecedented challenges to homeowners, servicers, and the federal agencies like HUD that administer loan guarant

Loans 370
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People On the Move at ERA, BHGRE, Coldwell Banker, Poplar Homes

Real Estate News

Change is afoot at Anywhere brands, where 2 new presidents are filling the role vacated by Sherry Chris and regional leadership has shifted at Coldwell Banker.

Branding 264
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The 2025 Real Estate Roadmap to Success

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.

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Ex-employee sues CrossCountry, branch manager for sexual harassment, retaliation

Housing Wire

A former CrossCountry Mortgage employee accused her immediate superior at a branch in Georgia of sexual harassment and said the mortgage company retaliated against her after she lodged complaints with the human resources department and federal authorities. Christina Nielsen, a former processor, claims that during her employment at CrossCountry, Alpharetta branch manager Steven Bocca subjected her to sexual comments, touched her without consent and made inappropriate solicitations.

HR 370
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How Owning a Home Grows Your Wealth with Time [INFOGRAPHIC]

Keeping Current Matters

If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.

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Coldwell Banker’s Kate Rossi to lead new Anywhere agent program

Inman

Anywhere's Agent Engagement team will help Anywhere affiliated broker-owners and agents supercharge their businesses with personalized coaching and mentorship, the company said.

Agents 158
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Career insights from an HW Insiders Honoree

Housing Wire

The HousingWire award spotlight series highlights the individuals who have been previously recognized by the HW Editors’ Choice Awards. N ominations for HousingWire’s Insiders award are open now through Friday, June 23, 2023. Click here to nominate an industry insider — a client, colleague, boss or friend — it can even be you! For the last eight years, the HW Insiders award program has provided the housing industry with the opportunity to recognize the professionals who are making a major impact

Agents 368
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Keller Williams and agent hit with class action telemarketing suit

Inman

Las Vegas resident Wayan Garvey filed a complaint calling out Keller Williams' allegedly "relentless marketing practices" and accusing the franchisor and agent Britney Gaitan of violating federal law.

Agents 158
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Local Housing Markets: Fargo, Bergen County and 30A, Florida

Housing Wire

Local housing markets is a HousingWire magazine feature spotlighting housing trends across the country. Bergen County, N.J. New Jersey’s Bergen County gives homebuyers the best of both worlds. There are over 9,000 acres of parklands and easy access to New York City. “There are excellent schools and great transportation into Manhattan, but if you go a little bit north you can go hiking.

Marketing 367
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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Veros says its AVM isn’t tripped up by historical redlining boundaries

Inman

Study finds that homes located within historically redlined neighborhoods tend to have less living space, smaller lot sizes and more variations in quality.

Loans 158
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House lawmakers take aim at Chopra, CFPB in contentious hearing

Housing Wire

Republican lawmakers in the U.S. House of Representatives Financial Services Committee took aim at Rohit Chopra , the director of the Consumer Financial Protection Bureau (CFPB), in a hearing held on Wednesday that served as the House version of the CFPB’s semi-annual report. A series of contentious exchanges between lawmakers and Chopra led to the CFPB director being accused of being an “extortionist” and practicing “McCarthyism,” a reference to Sen.

Lending 357
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Does low inventory make the market crash-proof?

Inman

On The Download this week, we're asking: Is low inventory having a protective effect on the housing market? How long can it last?

Marketing 158
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Luxury Real Estate Headlines, Third Week in June 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Acireale, Italy | Italy Sotheby’s International Realty Piazza Agostino Pennisi Acireale lies on the coast of Sicily and bears the name of its original owner, Baron Agostino Pennisi di Floristella, who commissioned the castle in 1800. The Best in Real Estate, From a Sprawling Gothic Castle to Jim Carrey’s Former Estate – Robb Report Late Fashion Icon André Leon Talley’s Longtime White Plain

Sales 137
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Driving Profit: 4 Pillars for Growing Your Real Estate Brokerage

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.

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Limitless referrals can be yours in any market

Inman

Your pipeline in 180 days is a reflection of the work you are doing today. Based on the work you are doing now, what do you expect your pipeline to look like in six months?

Marketing 148
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Rookie Reply: Pre-Foreclosures and How to Cut Your Property Management Costs

Bigger Pockets

Let’s face it—property management fees aren’t cheap.

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15 (plus a bonus) Dad Jokes real estate agents will love

Inman

Just in time for Father's Day, Devon Broderick brings back the Dad Joke in a big way with this real estate-related compilation.

Agents 148
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Things to Know About Encroachment in Real Estate

RIS Media

While neighbor disputes are relatively common, sometimes they can get more complicated than an argument over noise or pets. If one of your neighbors is ignoring an encroachment on your property, it can be difficult to resolve, but it’s something you shouldn’t leave until later. We will examine an encroachment and what you should do… The post Things to Know About Encroachment in Real Estate appeared first on RISMedia.

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Tech-Forward Strategies for Scaling Agent Efficiency & Accelerating Growth

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.

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StreetEasy assembles advisory board for broker feedback

Inman

The board is composed of 19 brokers from various firms across New York City who will meet in person once a quarter to discuss resources, products and other topics, according to StreetEasy.

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Double Digit Declines for Single-Family Permits in April 2023 in All Regions

Eye on Housing

Over the first four months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 268,205. On a year-over-year (YoY) basis, this is 29.0% below the April 2022 level of 377,713. Year-to-date ending in April, single-family permits declined in all four regions. The Northeast posted the lowest decline of 17.6%, while the West region reported the steepest.

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First Look: The Future of Stand-Out Listings is Here

Inman

Listing Showcase from ShowingTime+ is an exclusive and elevated listing experience that gives sellers a premium online listing and highlights an agent’s brand on Zillow.

Branding 148
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3rd Look at Local Housing Markets in May

Calculated Risk Real Estate

This is the third look at local markets in May. I’m tracking about 40 local housing markets in the US. Some of the 40 markets are states, and some are metropolitan areas. I’ll update these tables throughout the month as additional data is released. Closed sales in May were mostly for contracts signed in March and April. Since 30-year fixed mortgage rates were in the 6% to 6.5% range in March and April - compared to the 4% to 5% range the previous year - closed sales were down signifi

Marketing 115
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The Broker Action Plan for the Post-NAR Lawsuit Landscape

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.

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KW, ChatGPT and fake real estate: It’s Inman’s Top 5

Inman

Wondering what you missed? Find out with Inman's Top 5 most-read stories of the week of June 9-15, 2023.

Agents 122
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Offerpad Implements Reverse Stock Split to Stave Off NYSE Delisting

RIS Media

The housing market and economy haven’t done many companies any favors as of late, but they seem to have been especially hard on players in the iBuying sector. That appears to be the case for Offerpad, as the company aims to rally investors with a new reverse stock split on its Class A and Class… The post Offerpad Implements Reverse Stock Split to Stave Off NYSE Delisting appeared first on RISMedia.

Investor 111
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Asphalt vs. Concrete: Details on the Great Driveway Debate

HomeLight

What material to use for the driveway is a quandary many homeowners eventually face. On the one hand, the driveway must get your car from the street to your garage every day, making durability the utmost priority. On the other hand, the driveway takes up a large amount of visual space, so you’ll want a style that contributes — or at least doesn’t detract from — your home’s curb appeal.

Design 111
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Why David Romero Found a New Home at Realty ONE Group

RIS Media

After a decades-long career running Southern California’s CENTURY 21 Award, David Romero has spent the past year fielding some big changes. After joining forces with brokerage powerhouse CENTURY 21 Affiliated roughly one year ago, Romero recently made another big switch, leaving the CENTURY 21 brand altogether to come on board as executive vice president of… The post Why David Romero Found a New Home at Realty ONE Group appeared first on RISMedia.

Branding 106
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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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Daily Links: New 25-Story Tower Planned for Downtown Brooklyn

Brownstoner

In the News Police Chief’s Exit Is Latest in Exodus From Adams Administration [NYT] The Fierce, Flourishing World of Battle Rap [NYT] New Tech to Ticket Overweight Trucks on BQE Finally Approved [Eagle] Man Robbed, Stabbed on Joralemon Street [Eagle] City Says IBX Would Boost Business in ENY. Who Will Benefit? [BK Reader] Lawyers in ‘Burg… Read More > The post Daily Links: New 25-Story Tower Planned for Downtown Brooklyn appeared first on Brownstoner.

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Consumer Sentiment Grows in June

RIS Media

Consumer sentiment grew to 8% in June, the highest level in four months, according to data from the University of Michigan. The report found that sentiment is now 28% above the historic low from a year ago, but continues to remain historically lower. The outlook over the economy grew 28% over the short run and… The post Consumer Sentiment Grows in June appeared first on RISMedia.

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How to Create an Effective Real Estate Social Media Campaign

Realty Biz

Creating an effective social media campaign for real estate requires a precise understanding of the industry, meticulous planning, and an understanding of modern digital marketing techniques. In this comprehensive guide, we will outline a systematic approach to design a potent social media campaign that not only attracts attention but also drives tangible results for your real estate business.

Branding 105
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Mortgage Mix: Major Announcement From Fed Points to Better Times

RIS Media

Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. The Federal Reserve made the critical announcement that they are pausing interest rate hikes at their meeting Wednesday afternoon. “We have been seeing the effects of our policy tightening on demand in the most interest… The post Mortgage Mix: Major Announcement From Fed Points to Better Times appeared first on RISMedia.

Mortgages 106
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Boldtrail Backoffice - Take The Quiz to See What Package Is Right For You

BoldTrail BackOffice provides a single, streamlined solution to manage agent onboarding and billing and commission tracking and disbursements, along with agent management, reporting, and accounting - so your brokerage can run smoothly & profitably. Our #1-rated back office solutions have exactly what your business needs to deliver a seamless experience for your clients and your team.