Tue.Jun 11, 2024

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VA issues temporary fix to allow buyer-paid broker fees

Housing Wire

The U.S. Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. The change, a result of the National Association of Realtors’ (NAR) commission lawsuit settlement agreement , was anticipated late last month and commented on by Michelle Corridon, the deputy policy director at the VA.

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The state of mortgage rates depends on which state you're in

Real Estate News

A new survey of lenders reveals a 38 basis point difference between mortgage rates by state, which can mean hundreds of dollars a year for borrowers.

Mortgages 300
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Offerpad and Realtor.com team up to make cash offers available to portal users

Housing Wire

The iBuying platform Offerpad and Realtor.com are teaming up. In an announcement on Tuesday, the firms said that Offerpad was integrating with Realtor.com. According to the release, the integration will allow Offerpad to provide a cash offer to more sellers and will extend Offerpad’s reach to a larger audience of potential sellers. “Over the past year, with all of the adversity happening for buyers and sellers and the industry in general, we have really been focused on trying to find buyers and

Finance 471
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VA makes mortgage rule change official

Real Estate News

A temporary policy revision allows military borrowers to pay their agents, something that was previously prohibited under VA lending rules.

Lending 267
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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.

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Under stress, loanDepot ‘buys time’ with plan to extend $500M debt

Housing Wire

California-based loanDepot plans to extend its $497.8 million in senior notes due in the fourth quarter of 2025 at a lower maturity and a higher interest rate. The transaction reflects a business under stress but brings temporary relief to the company’s financials, analysts told HousingWire. loanDepot subsidiary LD Holdings Group LLC announced on June 4 that it amended the terms of its previously commenced offer to exchange senior notes of 6.5% due in 2025 for newly senior secured notes due on

Principal 469
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Flyhomes takes on portal giants with ‘incomparable’ tech

Real Estate News

The company is launching a new AI-backed home search that CEO Tushar Garg claims is “far ahead of everybody else” in terms of data and tech.

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More Trending

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Savings Strategies Every First-Time Homebuyer Needs To Know

Keeping Current Matters

If homeownership is on your goal sheet for your future, you’re probably working on your savings.

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Despite financial insecurities, retirement may be easier than you think: Forbes

Housing Wire

An article written by an Atlanta -based certified financial planner and published Tuesday by Forbes indicates that retirement may not be as difficult as many Americans think. Wes Moss, who hosts the “ Retire Sooner ” podcast and has 20-plus years of experience as an investment adviser, offered advice that reverse mortgage professionals and their business partners might take into account when working with clients on strategies for a financially secure retirement.

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Offerpad partners with Realtor.com to expand cash offers

Real Estate News

The search portal integration is the iBuyer’s latest move as it focuses on growing market share through partnerships and agent incentives.

Agents 216
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MLS PIN urges Nosalek judge to approve settlement agreement

Housing Wire

In a legal brief filed on Monday, MLS Property Information Network (MLS PIN) made it clear that it does not agree with the Department of Justice ‘s position on the banning of cooperative compensation, as outlined in the DOJ’s statement of interest in the Nosalek commission lawsuit. The DOJ became involved in the Nosalek suit in late September 2023 , intervening over what it described as “significant concerns” about the terms of the settlement agreement that MLS PIN and the Nosalek pl

MLS 436
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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VA officially unveils rules to allow vets to pay broker commissions

Inman

The temporary rules were first announced in May ahead of Memorial Day and came in response to calls from Realtors who feared veterans would become less competitive in the new landscape.

Brokerage 183
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Flyhomes acquires ZeroDown, launches AI-powered home search portal

Housing Wire

Seattle -based proptech company Flyhomes announced Tuesday that it has acquired the assets of startup ZeroDown and is launching an artificial intelligence (AI)-powered home search portal to bring “conversational real estate search and research to the market.“ Developed over the past two years, the newly rebranded Flyhomes portal is proprietary technology that was designed under the guidance of ZeroDown co-founders Laks Srini and Abhijeet Dwivedi, who have joined Flyhomes as chief technology offi

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Newrez laying off nearly 500 workers after Rithm acquisitions

Inman

Pending layoffs of 420 Newrez employees in Colorado and 53 workers in Florida follow $1.4 billion in acquisitions as parent company Rithm seeks to diversify beyond mortgage lending.

Lending 183
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Sotheby’s International Realty gains new affiliate in Michigan

Housing Wire

Sotheby’s International Realty is launching its eighth office in Michigan as the firm announced the affiliation of the The Home Seekers Real Estate Group on Tuesday. Home Seekers, which is based in Okemos, Michigan, will now operate as White Pine Sotheby’s International Realty. The firm, which is owned and operated by Rob Buffington, serves the Greater Lansing area — including Ingham County, Eaton County and Clinton County. “ Homebuyers migrate to Central Michigan to enjoy its proximity to numer

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The 4 Most Impactful Actions to Take in Real Estate in 2024

Strategic real estate professionals know that the name of the game right now is to stay informed, adaptable, and ready to make confident decisions. In this free download, Inside Real Estate CEO, Joe Skousen, shares what he believes are the top 4 most impactful actions in real estate right now. We've been actively engaging with industry experts, analyzing data, and listening intently to the experiences of our agents on the ground.

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5 coaches on how to show your value to get the commission

Inman

There are several ways in which agents can prove just how much they're worth — and why anyone would want to sign a buyer-broker agreement and pay their commission.

Agents 189
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NAR addresses steering in latest settlement agreement update

Housing Wire

The National Association of Realtors addressed concerns of agent steering in its latest update to its commission lawsuit settlement FAQs. The topic of steering — when a buyer’s agent or broker prevents buyers from seeing homes that offer commissions lower than is typical for a market or discourages buyers from considering homes that offer lower commissions, as well as when a listing agent makes sellers fearful that if they don’t offer competitive compensation, buyers and their agents will avoid

MLS 425
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Seller who balked at inadequate payout appeals commission deal

Inman

Pennsylvania homeseller Spring Way Center is seeking to overturn the court approval of deals reached with Anywhere, Keller Williams and RE/MAX to resolve antitrust commission suits.

Brokerage 180
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Reverse mortgage consumer complaints decline on a yearly basis: CFPB

Housing Wire

There were a total of 131 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) between Jan. 1 and June 10 of this year that were related to the reverse mortgage industry, according to a database maintained by the bureau. This was 52 fewer complaints compared to the same period in 2023. Of these complaints, 42% were related to “trouble during the payment process,” which primarily had to do with customers seeking to contact their lender or servicer to fix an issue with

Mortgages 425
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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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Flyhomes joins portal wars with launch of AI-powered search

Inman

Cash-offer pioneer Flyhomes says it will partner with agents to expand nationwide after acquiring "conversational real estate search" tech from ZeroDown, hiring co-founders Laks Srini and Abhijeet Dwivedi.

Agents 171
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What’s new in QC and Compliance

Housing Wire

In a market where every dollar matters, revenue retention areas like quality control and compliance are more critical than ever. Thus, keeping abreast of regulatory and investor updates and trends is vital to maintaining loan quality and compliance. Trevor Gauthier, chief executive officer at ACES Quality Management provides us with an update on the latest in QC and compliance.

Loans 424
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Take the temperature of office culture by starting at the top

Inman

Whether you're a broker-owner, managing broker or team leader, you may be surprised to find out how much your vibe affects your organization, Joseph Santini writes.

Brokerage 176
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Rithm Capital closes deal with Great Ajax

Housing Wire

Rithm Capital , the parent company of multichannel lender Newrez , announced on Tuesday that it has closed a transaction with Great Ajax Corp. , which resulted in the purchase of 2.9 million shares of its peer’s common stock. Rithm, a New York-based real estate investment trust, has invested in becoming a global asset management firm focused on real estate, credit and financial services.

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3 Real Estate Office Hacks to Help Kickstart the Busy Season

Ready to better your Back Office? Dive into the secrets to a powerhouse back office with Brokermint expert, Jessica Souza. In this free download, she shares her 3 transformative hacks designed to clean house, get everyone on the same page, and set yourself up for success. From optimizing agent profiles to ensuring flawless transactions and boosting agent retention, these strategies are your ticket to a seamless operation.

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This new website is geared toward building wealth for women

Inman

"Real Estate Wealth for Women" offers an abundance of resources and interviews with experts to help women make smarter financial decisions, especially when it comes to real estate. The brainchild of Bernice Ross, it’s available in both public-facing free and private paid tiers.

Brokerage 167
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Amazon commits an additional $1.4 billion to affordable housing

Seattle Times Real Estate

Amazon invested $2.2 billion in affordable housing units faster than it expected. Now, it has committed an additional $1.4 billion for more projects.

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Who trains the trainer? 5 signs your coach isn’t above board

Inman

There’s a lot of new information out there — and a lot of bad info, too. Christy Murdock offers 5 red flags to watch out for when choosing a coach or trainer.

MLS 168
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Effortlessly Tackling the Client Loyalty Challenge

RIS Media

Client loyalty is the cornerstone of a successful business, especially in the real estate industry. It’s the key to retaining clients over several years between transactions, and it presents the greatest opportunity for long-term growth. Moreover, the right client loyalty solutions can even lead to near-term listings. Yes, by focusing on client loyalty, you can… The post Effortlessly Tackling the Client Loyalty Challenge appeared first on RISMedia.

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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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National rents hit highest level since 2022 despite more inventory

Inman

The median United States asking rent rose 0.8 percent year over year in May to $1,653, the highest it's been since October 2022.

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DOJ Intervention Violates Free Speech, MLS Argues

RIS Media

MLS PIN, the Massachusetts-based listing service that has become a focal point of the Department of Justice’s (DOJ) interest in real estate commission practices, yesterday filed its long-awaited response to antitrust regulators as it urged a federal judge to reject DOJ arguments that “fail on their own terms” in a proxy battle over compensation structure.… The post DOJ Intervention Violates Free Speech, MLS Argues appeared first on RISMedia.

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Calgary offers possible way forward for office conversions

Inman

Calgary has instituted one of the most aggressive programs in North America to encourage the conversion of office space to residential buildings.

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Over Half of Homebuyers Skip Mortgage Shopping, Yet Those Who Do Get Better Rates

RIS Media

A majority of homebuyers aren’t shopping around for a mortgage, according to new data from LendingTree. Specifically, 54% of buyers who took out a mortgage for their most recent home purchase received just one offer from one lender, 22% got two offers and 17% got three. “There’s no magic number for how many offers homebuyers… The post Over Half of Homebuyers Skip Mortgage Shopping, Yet Those Who Do Get Better Rates appeared first on RISMedia.

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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.