Fri.Sep 29, 2023

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As rising mortgage rates push buyers to the brink, sellers are starting to cut prices

Housing Wire

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. According to the brokerage, 6.5% of U.S. homes for sale posted a price cut during the four weeks ending September 24, up from 5.8% the month prior. In some markets, more than 50% of active listings have experienced a price cut, according to Altos Research.

Mortgages 516
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Explaining Today’s Low Housing Supply [INFOGRAPHIC]

Keeping Current Matters

Wondering why the supply of homes for sale is limited today?

Sales 358
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Meet the new kid on the brokerage block: iad Group

Housing Wire

The iad Group is heading to America. The Paris-based brokerage is launching its Florida operation on Friday, marking its first expansion into the U.S. The firm was founded in 2008 and currently operates in France, Portugal, Italy, Spain, Germany and Mexico. In addition to the U.S. expansion, iad will soon be launching in the United Kingdom. According to iad, the brokerage is the No. 1 brokerage by transaction sides in France, as well as No.3 in Italy, No. 4 in Portugal, No. 5 in Spain and No. 4

Brokerage 458
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Zillow wins case over how it handles non-MLS listings

Real Estate News

A jury decided that Zillow did not harm The Real Estate Exchange, known as REX, by moving its listings to a secondary tab with less traffic.

MLS 321
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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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To overcome surging mortgage rates, borrowers are turning to mom and dad

Housing Wire

The loan officers that Scott Groves talks to are struggling. Really struggling. Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. It’s no longer about just outlasting a bad market for a couple of months. “I would say a vast majority of LOs have woken up to the fact that it won’t get easier,” said Groves, a branch manager at Synergy One Lending and owner of Consolidated Coaching.

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eXp exec talks rev share, ‘attraction’ and agents’ No. 1 job

Real Estate News

Chief Growth Officer Michael Valdes says eXp doesn’t “recruit” agents in a transactional sense, but seeks to “attract” for long-term growth and success.

Agents 290

More Trending

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Cloud-based brokerage iad lands in the US

Real Estate News

The French company has over 20,000 agents across Europe and Mexico, and now it’s ready to stake a claim in the lucrative U.S. market.

Land 279
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MoxiWorks boosts customer engagement with new product integration

Housing Wire

MoxiWorks , a real estate technology platform, just made it easier to create and share presentations thanks to its latest product integration. The company combined its two tools — MoxiPresent and MoxiConnect — to streamline the creation of presentations , buyer tours and annual property reviews to send the assets directly to customers. “Innovation at MoxiWorks is always done with an eye towards making the agents more efficient and maximizing their opportunities.

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A win for Rapattoni as Cincinnati MLS members vote to keep it

Real Estate News

In the wake of a cyberattack that knocked the Ohio MLS offline in August, the organization rushed to roll out a new system, but bugs frustrated agents.

MLS 279
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David Childers named new CEO of Keeping Current Matters

Housing Wire

David Childers has been promoted to the role of chief executive officer at Keeping Current Matters , the company announced on Wednesday. Childers previously served as KCM’s president for almost two years. Before that, he was the vice president of content and marketing. His appointment coincides with owner Bill Harney shedding the CEO title, which he has held since October 2014.

Title 431
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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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Brokerage Beat: News from RE/MAX, C21, ERA, Christie's, more

Real Estate News

RE/MAX snags 165-agent firm; Century 21 grows in Long Island, Chicago; The Agency expands in Montana; Real enters Vermont; Christie's opens in Park City; more.

Brokerage 263
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Mr. Cooper CEO Jay Bray on the challenges and opportunities in acquiring Home Point Capital

Housing Wire

The recently completed $300 million-plus acquisition of Home Point Capital by Mr. Cooper provided an attractive opportunity to bolster the company’s existing mortgage servicing rights (MSR) portfolio, and it’s expected to boost the company’s bottom line within the next couple of quarters. This is according to Jay Bray, CEO of Mr. Cooper, in an interview on HousingWire’s Housing News podcast hosted by HW Media CEO Clayton Collins.

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Hollywood’s top 35 luxury real estate agents, revealed

Inman

It takes a highly qualified real estate agent to perform at the level that some of the world's wealthiest celebrities demand. Here are the top ones serving Hollywood, according to "The Hollywood Reporter.

Agents 199
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Landlords Are Offering Concessions—Does This Mean the Rental Market is Softening?

Bigger Pockets

The rental market has continued to grow in much of the country, but signs of softness are starting to creep in. Here's what you need to know.

Marketing 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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Simple-sizing’s on the rise: 3 things buyers want in their next home

Inman

New Inman contributor Nick Boniakowski digs into the latest research on buyer desires to find out how to meet the needs of more intentional home searches.

Agents 197
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Who’s Buying All of These Deals With ZERO Cash Flow? Are We Crazy?

Bigger Pockets

It's no secret that as prices have risen, the ability to cash flow has declined rapidly. Yet, investors continue to scrape up properties every day. Have we all gone mad?

Investor 133
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Canada’s version of the bombshell commission lawsuit gets serious

Inman

A judge struck down claims that defendants conspired to "fix," "maintain" and "increase" prices for buyer brokerage services, but allowed claims they sought to "control" prices to proceed.

Brokerage 195
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DIY music venue Black Lodge reopens in Seattle’s South Lake Union

Seattle Times Real Estate

The underground punk venue takes over one of Seattle's funkiest nightlife spaces in South Lake Union.

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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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Volunteer leaders, bankruptcy, good advice: Inman’s Top 5

Inman

With Inman Top 5, you'll find the most essential stories, chosen by our readers. Here are the most-read stores of Sept. 23-28, 2023.

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Investors: You Can Rake In Passive Income Without Market Volatility—Here’s How

Bigger Pockets

Why go through the trouble of economic cycles when you can invest passively and avoid the ups and downs? Start your journey today with a minimum of $500!

Investor 132
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Lions and tigers and bears, oh my: The Download

Inman

This week: There are some bad actors out there. It's up to you to protect yourself and your clients from fraudsters, scammers and cybercriminals.

Brokerage 193
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How Do I Find an Investor-Friendly Lender?

Bigger Pockets

An investor-friendly lender can help you secure funding that aligns with your real estate investing goals. Here are a few places to find a lender.

Investor 132
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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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Here’s what differentiates teams that win from everyone else

Inman

If you want your tech to work for your team, you need to think through the process of implementing it and making it stick. Tech CEO Sheila Reddy offers a three-point strategy for making team tech fulfill its promises.

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Tracking the Fed: When Should We Expect the Next Rate Hike?

Bigger Pockets

The latest Fed meeting didn't feature a rate increase, but what's in store for the next one? What's the current mortgage outlook?

Mortgages 131
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Over 50% of transactions are at risk for fraud. Here’s how to fight back

Inman

According to new Inman contributor and attorney Renée Hunter, from cybercriminals to family members, property fraud of all kinds is on the rise. Find out what practical steps you and your professional network can take to put a stop to it.

Title 190
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How Much Would You Make If You Made Your Primary Residence a Short-Term Rental? You Can Check Right Now

Bigger Pockets

Things change, and sometimes, you need to move out of your primary residence. Does it make sense to sell your home? Or should you turn it into cash flow? Here's what you need to know.

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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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Mauricio Umansky survives week 1 of ‘Dancing with the Stars’

Inman

The Agency's CEO was not a top scorer during his debut appearance on the competitive dance reality series, but the judges seemed excited by his enthusiasm, and Umansky scored well enough to avoid elimination.

Agents 187
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Housing Affordability Worsens in Q3 2023

RIS Media

Housing affordability worsened in Q3 2023 due to rising mortgage rates—which have now surpassed 7%—and high home prices, along with other economic challenges. ATTOM’s Home Affordability Report for Q3 2023 found that median-priced single-family homes and condos are less affordable in the third quarter of 2023 compared to historical averages in 99 percent of counties… The post Housing Affordability Worsens in Q3 2023 appeared first on RISMedia.

Mortgages 127
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Oldest US community bank to pay $9M to settle redlining allegations

Inman

Washington Trust "vehemently" denies the allegations but joins a long list of lenders who have coughed up $98 million in settlements since the DoJ launched an anti-redlining initiative in 2021.

Banks 183
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COLDWELL BANKER APEX, REALTORS ATTRACTS SEASONED TALENT WITH DALLAS AGENTS RACHAEL HILL AND LORI VADEN WEST

Coldwell Banker

Rachael Hill and Lori Vaden West Group have affiliated with Coldwell Banker Apex from Ebby Halliday and Compass respectively The post COLDWELL BANKER APEX, REALTORS ATTRACTS SEASONED TALENT WITH DALLAS AGENTS RACHAEL HILL AND LORI VADEN WEST appeared first on Coldwell Banker Blue Matter.

Agents 126
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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.