Real Trends
OCTOBER 2, 2023
On today’s RealTrending, ShowingTime+ President Mike Lane offers insight into how showings have been impacted by the low inventory and high-interest rate market. He’ll also talk about how agents can win listings, how Zillow has been impacted by the commission class-action lawsuits, and how the company is using AI to build better photography products.
Housing Wire
OCTOBER 2, 2023
FresYes Realty , one of California ‘s top real estate agent teams, has left the indie ranks to join The Real Brokerage. Jason Farris and his 50-agent team were the top large team in California by sides in 2021, according to the RealTrends 2022 rankings. They recorded 539 transactions in 2021 worth $203.7 million in volume. (They did not appear in the 2023 RealTrends rankings.
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Keeping Current Matters
OCTOBER 2, 2023
If you’re thinking about buying a home soon, higher mortgage rates, rising home prices, and ongoing affordability concerns may make you wonder if it still makes sense to buy a home right now.
Housing Wire
OCTOBER 2, 2023
Rocket Pro TPO , the wholesale arm of Rocket Mortgage , on Monday raised agency conforming loan limits to $750,000, ahead of the Federal Housing Finance Agency’s (FHFA) decision expected in November. Amid fiercer competition in a shrinking mortgage market , other lenders may follow suit in the coming days or weeks, as in previous years. Companies are pressured to launch new initiatives to attract brokers and land more purchase businesses due to high mortgage rates.
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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
OCTOBER 2, 2023
In a note signed by CEO Glenn Kelman and other Redfin leaders, the company said “NAR isn’t the future.
Housing Wire
OCTOBER 2, 2023
Mortgage companies raising debt in the current high mortgage rates landscape is a sign that market conditions are improving, although a recovery from the downturn may come later than expected, analysts told HousingWire. Executives have decided to improve liquidity to fund their businesses and investments, targeting mortgage servicing rights (MSRs) deals.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Housing Wire
OCTOBER 2, 2023
Four of the largest MLSs in the Southeast have formed an alliance, creating a data sharing network. South Carolina’s Charleston Regional MLS; Canopy MLS in North Carolina; Georgia MLS; and Realtracs, which is the largest MLS in Alabama, Kentucky and Tennessee, have formed the Southeast MLS Alliance. The partnership will allow members of these four MLSs to access more than 85,000 listings across Alabama , Georgia , Kentucky , North Carolina , Tennessee and South Carolina.
Real Estate News
OCTOBER 2, 2023
This is the second time the settlement agreement reached by MLS PIN in the Massachusetts buyer-broker commissions lawsuit has come under fire.
Housing Wire
OCTOBER 2, 2023
Home prices continued to accelerate in August, rising a seasonally adjusted 0.68% from July and hitting another record high for the fourth consecutive month. Prices in nearly half of the nation’s 50 largest markets climbed by 0.75% or more. Even on a non-adjusted basis, August’s gain of 0.24% was more than 60% larger than the 25-year average for the month, according to a mortgage monitor report from Intercontinental Exchange, Inc.
Inman
OCTOBER 2, 2023
In a message to employees on Monday, Redfin CEO Glenn Kelman cited NAR's harassment scandal and other grievances as reasons for calling on 1,800 Realtors to cancel memberships.
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
OCTOBER 2, 2023
Online real estate market provider CoStar Group has sued former Homesnap founder Guy Wolcott and three others for allegedly stealing trade secrets related to its online information platform feeding its various marketplace products, including Homes.com and Apartments.com , according to court documents obtained by HousingWire. The filing of the suit was first reported by Inman News.
Inman
OCTOBER 2, 2023
A hybrid property is a private getaway for the homeowner that's only used sporadically. It can also be a source of additional rental income.
Housing Wire
OCTOBER 2, 2023
Real estate giant Zillow came out victorious in its years-long legal battle with discount brokerage REX Real Estate. In a verdict announced late Friday afternoon, a jury in a U.S. District Court in Seattle determined that Zillow did not make deceptive change to its only agent listings that forced REX Real Estate to go out of business. The jury found that REX did not prove Zillow used false advertising it its decision to put non-MLS listings on a different section of the website and that Zillow p
Inman
OCTOBER 2, 2023
In a sign of the listing portal's growing influence, Homes.com hit more than 100 million unique visitors in September, sparking a 1,290 percent annual increase in traffic. Now the portal is second only to Zillow.
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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
OCTOBER 2, 2023
Lawmakers from the House of Representatives and the Senate averted a government shutdown on Saturday, just hours ahead from a funding lapse. Passage allows Congress to fund the government for 45 days, provide $16 billion in disaster assistance, and temporarily extend the National Flood Insurance Program. In the meantime, Congress continues to work on a long-term reauthorization of the program, the National Association of Realtors (NAR) said in an FAQ document released last week.
Inman
OCTOBER 2, 2023
The now-defunct brokerage failed to convince a jury that Zillow used unfair tactics when it gave non-MLS listings a separate place on its site.
Housing Wire
OCTOBER 2, 2023
Equity Prime Mortgage (EPM), which shifted to the TPO business after exiting its retail channel in the fall, has embarked on a new chapter. EPM wants to help grow the industry’s wholesale channel through its newly launched broker recruiting website. BLVR – a marketing and promotional campaign launched by EPM on Monday – aims to reach as many retail loan officers to provide information about the wholesale channel.
Inman
OCTOBER 2, 2023
Portnoy's waterfront home purchase set a new record for Nantucket and the state of Massachusetts. The estate features a main house, guest house and studio that are connected by an underground tunnel.
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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.
Housing Wire
OCTOBER 2, 2023
Real estate investment trust Rithm Capital Corp has entered into a definitive agreement to acquire Computershare Mortgage Services Inc. for about $720 million, the companies announced Monday. The deal includes the purchase of Specialized Loan Servicing LLC. The deal represents the second major acquisition that New York-based Rithm, which operates NewRez , Caliber and other businesses , has announced in the past three months.
Inman
OCTOBER 2, 2023
Discover powerful strategies to boost your real estate career and achieve lasting success through a step-by-step self-improvement process. Coaches Emily Bossert and Melanie Klein provide the roadmap.
Housing Wire
OCTOBER 2, 2023
After a years-long voyage through the state legislature, Gov. Gavin Newsom signed a bill Saturday allowing remote online notarization in California. The bill was previously approved by the state legislature in mid-September. California is the 44 th state to pass legislation relating to remote online notarization (RON). First introduced in February 2023 by State Senator Anthony Portantino, a Democrat from Burbank, Senate Bill 696, allows California’s notaries to deliver services online and provid
Inman
OCTOBER 2, 2023
Maintaining your sense of humor makes personal and professional sense while it helps you connect with clients and colleagues. Coach Darryl Davis offers a laughter prescription for whatever's ailing you in the current tough market.
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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.
Housing Wire
OCTOBER 2, 2023
Mortgage tech company Xactus announced that its valuation solution Appraisal Firewall X has met federal requirements and is capable of fulfilling Fannie Mae property data collection orders. Appraisal Firewall X connects mortgage lenders with vetted and trained property data collectors to deliver the value acceptance + property data and hybrid appraisal solutions, the company said in a release.
Inman
OCTOBER 2, 2023
The move could help qualifying borrowers avoid taking out a jumbo mortgage at a higher rate as Rocket gets a jump on an expected increase in Fannie Mae and Freddie Mac's 2024 loan limits.
Housing Wire
OCTOBER 2, 2023
MLS Property Information Network’s (MLS PIN) settlement agreement in the Nosalek class action antitrust buyer-broker compensation lawsuit has hit yet another snag. On Thursday, the Department of Justice indicated that it had “significant concerns” about the proposed antitrust settlement between home sellers and MLS PIN, filing a motion to extend the deadline for the final approval of the settlement.
Inman
OCTOBER 2, 2023
The commercial real estate giant is seeking to stop Homesnap founder Guy Wolcott from marketing a new data-transfer platform, which CoStar alleges is "a copycat" of its own tech.
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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.
Housing Wire
OCTOBER 2, 2023
Redfin will soon be requiring agents to cancel their National Association of Realtors membership. In a letter published on Redfin’s website on Monday, Glenn Kelman and Redfin’s leadership team, including Anna Stevens, Anthony Kappus, Bridget Frey, Chris Nielsen, Christian Taubman, Jason Aleem, and Keith Broxterman, said that Redfin is moving to end its support of NAR.
Inman
OCTOBER 2, 2023
Fed Governor Michelle Bowman warns bankers that she thinks the Fed may need to hike rates more than once and keep them high next year to get inflation under control.
Housing Wire
OCTOBER 2, 2023
PLACE , the real estate technology platform, appointed Brendon Burchard, a leading personal growth coach to the role of chief growth advisor. In this newly created position, Burchard will oversee personal growth efforts for real estate agents , partners and employees. PLACE partners and team members will have access to Burchard’s exclusive coaching through his app, GrowthDay.
Inman
OCTOBER 2, 2023
Join Brian for an exploration of ACCESS and discover how this innovative internet-based platform empowers real estate professionals to craft stunning websites, captivating presentations, and impactful marketing materials with ease. Click here to join!
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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.
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