Mon.Sep 18, 2023

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RE/MAX settles buyer broker commission lawsuits for $55 million

Housing Wire

Yet another national real estate brokerage firm has reached a settlement agreement in two of the major class action antitrust lawsuits facing the real estate industry. According to court documents filed on Monday, RE/MAX and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits.

MLS 505
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Are More Homes Coming onto the Market?

Keeping Current Matters

An important factor shaping today’s market is the number of homes for sale.

Marketing 359
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Dark Matter Technologies execs talk transition from Black Knight, innovation in the mortgage tech space

Housing Wire

Dark Matter Technologies , formerly Black Knight Origination Technologies, is focused on mainly two things: the smooth transition to new owners, and lowering the cost to originate loans for lenders. Executives from Dark Matter Technologies, under the Constellation Software umbrella, said that a down market is the best time to make investments in technology and prepare for the next cycle.

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RE/MAX makes $55 million deal to settle commission lawsuits

Real Estate News

The settlement agreement leaves NAR, HomeServices of America and Keller Williams as defendants with an Oct. 16 trial date looming.

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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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Homebuilders are no longer feeling good

Housing Wire

For the first time in five months, homebuilder sentiment levels dropped below the key break-even measure of 50, mostly reflecting the difficulties of persistent 7% mortgage rates. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report showed that builder confidence fell 5 points in September to a reading of 45, following a six-point drop in August.

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'Day of action' brings calls for change to NAR’s doorstep

Real Estate News

The NAR Accountability Project and its allies laid out their four-point plan during an event outside the organization’s Chicago headquarters on Monday.

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More Trending

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Compass aims to save agents 'time and money' with AI tool

Real Estate News

The brokerage has launched a new ChatGPT-based tool to help agents “accelerate their workflow” by crafting listing descriptions and more.

Agents 263
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Protesters at NAR’s Chicago headquarters demand major reforms

Housing Wire

The NAR Accountability Project is determined to not let the National Association of Realtors off the hook for what they have called the trade group’s “ indifference ” to the sexual harassment allegations brought forth in the New York Times exposé. On Monday afternoon, as part of the group’s “National Day of Action,” NAR Accountability Project leaders and local officials protested in front of NAR’s Chicago headquarters just ahead of a NAR board of director’s meeting.

HR 458
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RE/MAX settles bombshell commission lawsuits for $55M

Inman

The deal resolves claims in both the Sitzer and Moehrl antitrust cases. The franchisor agreed to change its business practices, including "no longer forcing homesellers to pay buyer’s agents.

Agents 208
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Fannie Mae’s Stacey Shifman on the latest in mortgage tech

Housing Wire

When it comes to the latest innovations in housing tech, adaptability and continuous learning have become indispensable virtues for industry pros immersed in the world of mortgage tech. Fortunately, leaders like Stacey Shifman , vice president of consumer credit analytics at Fannie Mae, have perfected the art of maintaining a constant state of curiosity when it comes to tech.

Mortgages 457
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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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NAR loses ‘Great Place to Work’ distinction on heels of Chicago rally

Inman

A rally at NAR headquarters in Chicago drew few Realtors on Monday, but organizers at the NAR Accountability Project declared a win nonetheless after NAR lost its "Great Place to Work" merit.

MLS 199
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How to protect your title company from wire fraud

Housing Wire

In today’s evolving technological landscape, wire fraud is a pervasive risk, particularly in real estate transactions. According to the FBI’s 2022 Internet Crime Report , the problem is only worsening, with an 86% increase in monetary losses in the real estate industry since 2020. For title professionals, understanding and countering this threat is paramount.

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Mild recession, elevated mortgage rates eyed in 2024: Fannie Mae

Inman

Fannie Mae economists predict "mild recession" next year, but say mortgage rates may not ease as much as previously expected.

Mortgages 195
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Cities are Cracking Down on Short-Term Rentals—What Does It Mean For Investors?

Bigger Pockets

Nationwide, cities continue to impose new regulations on short-term rentals, effectively putting Airbnb hosts out of business in some areas. How can investors protect themselves?

Investor 134
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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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Is your love affair with real estate over, or do you just need a new gig?

Inman

Trainer and marketing expert Rachael Hite encourages agents who are considering making a move this fall to have a heart to heart with themselves, their finances, and give the serious business of making a move to a new team or brokerage this fall the consideration it deserves.

Brokerage 190
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The Government Wants to Make FHA Mortgages More Accessible—How Will This Impact Investors?

Bigger Pockets

With housing affordability at all-time lows, the government is looking to increase the availability of these loans. What doors does this open for investors?

Investor 133
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Tips for navigating cultural and language differences with international buyers

Inman

Some luxury real estate agents might be mystified that their Chinese buyers don’t want a home situated right beside a scenic lake or river. But for Janet Moore, Global Luxury Real Estate Advisor at Premier Sotheby’s International Realty, it would be fairly obvious that such a property is breaking a cardinal rule of feng shui. After all, she’s been representing luxury buyers in Asian markets for more than 12 years.

Agents 187
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Things a Plot Plan Tells You: Insights for Site Development

RIS Media

Are you wondering about all of the uses of plot plans? A plot plan is essential in land development, architecture, and construction. It provides a comprehensive visual representation of a property’s layout, indicating crucial details about its features, dimensions and relationships with surrounding elements. Understanding a plot plan is essential for buyers, sellers and real… The post Things a Plot Plan Tells You: Insights for Site Development 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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Unleash your brand’s potential: 5 tactics for online niche marketing

Inman

Tune in to this Inman Access episode and gain insider tips from Philip Hordijk on the importance of how to identify, cultivate and market to your own unique niche audience to build business.

Marketing 187
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The Late Starter’s Guide to Retirement with Real Estate (40s, 50s, or 60s!)

Bigger Pockets

Can you start real estate investing in your 40s, 50s, or 60s?

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Buyers cancel contracts in droves as prices and interest rates soar

Inman

Nearly 60,000 home purchase contracts were canceled nationwide during August, according to Redfin's report.

Mortgages 183
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RE/MAX Settles Commission Lawsuits, With Industry Bracing for Change

RIS Media

The dominoes continue to fall in the long-running but now fast-developing saga of real estate commission lawsuits, with RE/MAX the latest brokerage to settle, paying $55 million to resolve sweeping class action claims, according to an SEC filing today. In the brief statement to regulators, RE/MAX said the settlement was reached last Friday, and covers… The post RE/MAX Settles Commission Lawsuits, With Industry Bracing for Change appeared first on RISMedia.

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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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WATCH: Keeping the homeownership dream alive

Inman

Higher mortgage rates and rising home prices are leaving many people feeling priced out of their dream home.

Mortgages 183
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What’s Happening With the Empty Lot in Bed Stuy Where the Dangler Mansion Once Stood?

Brownstoner

More than a year after the shocking demolition of the historic Jacob Dangler mansion at 441 Willoughby Avenue by a local developer with plans for a new apartment building, the site remains empty and still under the ownership of the struggling nonprofit that said it made a deal to sell… Read More > The post What’s Happening With the Empty Lot in Bed Stuy Where the Dangler Mansion Once Stood?

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Pushback on DEI progress ignores the business case for diversity

Inman

Recent legal decisions have cast doubt on the value of diversity, equity and inclusion initiatives. Keller Williams Head of Inclusion and Belonging Julia Lashay Israel outlines why they're more important, and impactful, than ever.

Equity 183
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Savvy Leadership and Collaborative Spirit Keep Realty Executives Growing Strong

RIS Media

Realty Executives International President, Patrick van den Bossche, facilitates a panel session on the “State of the Industry” with key broker/owners and Executives. When a few years ago Outlier CEO David Tedesco chose Patrick van den Bossche, with his 30 years of experience managing fast-growth, next-growth and startup firms, to lead Realty Executives International as… The post Savvy Leadership and Collaborative Spirit Keep Realty Executives Growing Strong appeared first on RISMedia.

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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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Head of LoanDepot’s retail division steps into newly created role

Inman

Dan Hanson, the former head of loanDepot's retail division, will develop "new revenue-generating opportunities" as the mortgage lender's executive director of enterprise partnerships and acquisitions.

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Midwest Team’s Collegial Atmosphere in College Town Propels Success

RIS Media

Above: Matt Winzenried, center, with his team Talk about taking real estate marketing to the next level… Matt Winzenried Real Estate Partners, a Madison, Wisconsin brokerage aligned with Realty Executives, showcases T-shirts, hoodies and sweatshirts featuring a stylized MW logo for sale on Amazon.com. While the agency leader’s plan wasn’t to have the clothing serve… The post Midwest Team’s Collegial Atmosphere in College Town Propels Success appeared first on RISMedia.

Brokerage 122
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How to navigate the fall housing market: What you need to know

Inman

Join Inman Access and tune in to today's video class featuring Matthew Gardner as he provides an informative forecast on the fall housing market and what to expect in the coming months.

Marketing 183
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3 Ways Real Estate Coaching Will Empower Your Team

RIS Media

The real estate market is anticipated to see a pent-up demand from eager buyers and sellers in 2024, according to many experts. Forming or strengthening your real estate team now, ensuring that everyone is aligned and following the same gameplan, will allow you to manage the leads coming in smoothly and efficiently. For the team… The post 3 Ways Real Estate Coaching Will Empower Your Team appeared first on RISMedia.

Marketing 122
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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.