Tom Ferry
FEBRUARY 9, 2023
There is one major mistake that agents make when following up with real estate leads. Real estate lead follow-up and prospecting is a lot like actual old timey gold prospecting… Have you ever read the book, Think & Grow Rich? If you haven’t, you’re missing out on one of the best success manuals ever written. […] The post The Biggest Mistake with Real Estate Lead Follow-Up appeared first on Tom Ferry.
Housing Wire
FEBRUARY 9, 2023
Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. “Due to the significant contraction in the overall mortgage industry, we have made the difficult decision to exit the correspondent lending business,” Chuck Williams, president and CEO, said in a statement.
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Real Estate News
FEBRUARY 9, 2023
NAR's quarterly home price report found that prices were up year-over-year in nearly 90% of major metros, though the pace of appreciation has slowed.
Housing Wire
FEBRUARY 9, 2023
Housing affordability hit a record low in the fourth quarter of 2022, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released Thursday. At the end of the fourth quarter, the index stood at its lowest level since the NAHB began tracking the data on a consistent basis in 2012. Despite this, the NAHB is optimistic that the recent drop in mortgage rates over the past two months might signal that affordability conditions may have reached their low point f
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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.
Real Estate News
FEBRUARY 9, 2023
Christie's expands in California and Boston, E&V snags Bay Area leaders, The Agency opens in Portugal, Cupid loves Side, RE/MAX grows and more brokerage news.
Housing Wire
FEBRUARY 9, 2023
The 2023 market is unlike those we’ve seen in previous years. We’re coming off of back-to-back years where mortgage rates were in the 2s and 3s, and they’re now in the 6s. In a market like this, every lead, loan and basis point matters more than ever for LOs. Dave Savage , chief innovation officer for Mortgage Coach and Sales Boomerang , described today’s market as a new era in the mortgage business — the advice era.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Housing Wire
FEBRUARY 9, 2023
Optimism spread across the mortgage industry at the start of 2023. Signs that the disinflationary process was working raised hopes that the Federal Reserve may stop the federal funds rate hikes sooner rather than later. Mortgage rates also dropped about 30 basis points in January, hitting the lowest level since September 2022. But February brought a dose of reality back to the markets.
Keeping Current Matters
FEBRUARY 9, 2023
67% of Americans say a housing market crash is imminent in the next three years. With all the talk in the media lately about shifts in the housing market, it makes sense why so many people feel this way. But there’s good news. Current data shows today’s market is nothing like it was before the housing crash in 2008.
Housing Wire
FEBRUARY 9, 2023
Education media publisher Appraiser eLearning (AEL) bought Valuation Expo and Appraisal Buzz from Joan Trice , who created the two entities about 20 years ago. The staff of both appraisal conference Valuation Expo and the newsletter for appraisal professionals Appraisal Buzz will remain in place and no changes are planned to either entity, AEL said announcing the purchase on Wednesday.
Inman
FEBRUARY 9, 2023
This week, the spotlight shines on Ivan Chorney, a Miami broker specializing in luxury real estate developments.
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.
Housing Wire
FEBRUARY 9, 2023
Amid the expectation of a wave of mergers and acquisitions in 2023, nonbank mortgage lenders American Portfolio Mortgage Corporation and Town Square Mortgage announced on Wednesday that the companies are merging their operations. The lenders, both privately held, will retain their names and brands after the transaction, but APMC will be the new legal entity as the companies come together.
Inman
FEBRUARY 9, 2023
Existing-home sales prices increased in nearly 90 percent of metro areas, but gains were smaller than the previous quarter, according to data released Thursday by the National Association of Realtors.
Housing Wire
FEBRUARY 9, 2023
A regulator in Illinois has suspended the MLO license of industry veteran Michael Strauss and the license for his mortgage company, Smart Rate Mortgage, essentially blocking the company from operating in the state, according to the Nationwide Multistate Licensing System (NMLS). The Division of Banking at the Department of Financial and Professional Regulation in Illinois issued the orders on February 1.
Inman
FEBRUARY 9, 2023
The 40-person team, formerly of Coldwell Banker, has also brought on its Northern California office located in the Berryessa neighborhood of San Jose to Corcoran Icon Properties.
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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.
Housing Wire
FEBRUARY 9, 2023
LauraMac, a provider of mortgage loan review SaaS technology, announced on Thursday that it has integrated with LoanLogics IDEA , an intelligent document processing and data extraction technology. The outcome of the integration between IDEA and the LauraMac platform “will improve the quality and transparency of mortgage loan commerce,” LoanLogics CEO Dave Parker said in a statement.
Inman
FEBRUARY 9, 2023
Expand your knowledge and unlock this week's newest classes with Inman Access. Watch on any device, anytime, anywhere.
Real Estate News
FEBRUARY 9, 2023
Volatility may be the norm for the near future, but mortgage interest rates remain down significantly from their November peak.
Inman
FEBRUARY 9, 2023
As mortgage rates have dropped from a roughly 7 percent peak, buyers can now buy homes about 84 square feet larger than those they could purchase in October with a $3,000 monthly payment.
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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.
Eye on Housing
FEBRUARY 9, 2023
Mirroring a steep rise in mortgage rates that began in the early part of 2022 and coupled with ongoing building material supply chain bottlenecks that increased construction costs, housing affordability posted three consecutive quarterly declines in 2022 and now stands at its lowest level since the National Association of Home Builders (NAHB) began tracking it on a consistent basis in.
Inman
FEBRUARY 9, 2023
The debt-burdened company notified regulators in December of plans to raise up to $100 million through a public stock offering.
Sotheby's International Real Estate
FEBRUARY 9, 2023
Marco Santos – Peninsula Sotheby’s International Realty In recent years, living environments often felt clinical in their sculptural surfaces, pale palettes, and polished sheen, or they completely surrendered to plushness—as though the entire home wore a pair of sweatpants. These tired trends have finally fallen by the wayside. Today’s aesthetic focuses on the individual: expressing the self creatively, feeling inspired by everyday items and spaces, and living according to deeply he
Inman
FEBRUARY 9, 2023
Strong job numbers spark fears that the Fed will need to stick to its guns and continue to raise rates and keep them elevated for some time to fight inflation.
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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.
HomeLight
FEBRUARY 9, 2023
When you hire a real estate agent , they agree to work to sell your house, while you grant them the legal permission to do so. When the agent is successful, they get paid through a commission , typically 5-6% of the sale price of the home, which is then split with the buyer’s agent. So it makes sense that just like any other job, sales transaction or business agreement, there will be a contract involved.
Inman
FEBRUARY 9, 2023
Because many teams work closely together, it's smart to take time to discuss love languages as a team. Help individuals identify their specific love language, and then work to develop an office culture that helps effectively nurture each other and builds on each other’s strengths and love languages.
The American Genius for Real Estate
FEBRUARY 9, 2023
Emails pile up, and we often use our inboxes as an ongoing task list, but it can backfire when time sensitive info sinks to the bottom of the list - there's a fix!
Inman
FEBRUARY 9, 2023
By avoiding common rookie mistakes, new real estate agents can set themselves up for success and establish a positive reputation in the industry.
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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.
HomeLight
FEBRUARY 9, 2023
The Austin, Texas real estate market has boomed over the past decade, buoyed by the city’s reputation as being one of the best places to live with its attractive music and food scenes, growing tech employment base, and proximity to nature. Although homeowners have reaped the benefits of explosive property values over that time period, the city, like many others across the nation, isn’t immune to the U.S.
The American Genius for Real Estate
FEBRUARY 9, 2023
Affordability challenges continue to plague the market, further threatened by home price gains and rising mortgage rates. What will happen to homeownership and sales in 2023?
HomeLight
FEBRUARY 9, 2023
DISCLAIMER: This article is meant for educational purposes only and is not intended to be financial or legal advice. If you are considering flipping houses in California, HomeLight always encourages you to reach out to an advisor regarding your own situation. Like many other areas in the U.S., the California housing market is seeing a decline in prices, and that decline will likely continue in 2023.
Real Trends
FEBRUARY 9, 2023
MooveGuru, a proptech service provider for movers that raised $5 million in equity funding last year, announced on Thursday that it has acquired its competitor, Relocator. According to the company, the acquisition was an “eight-figure transaction,” but it did not disclose other details regarding the financial terms of the deal. “We have long admired the Relocator platform and mortgage customer base,” MooveGuru CEO Scott Oakley said in a prepared statement.
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