Tue.May 21, 2024

article thumbnail

VA to roll out temporary fix to buyer agent commission problem

Housing Wire

The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. Michelle Corridon, deputy policy director at the VA, announced at the Mortgage Bankers Association ‘s Secondary & Capital Markets Conference in New York that the circular would be issued between now and June 12.

VA loan 513
article thumbnail

NAR continues its battle to keep DOJ case closed

Real Estate News

An appeals court ruled that the government could reopen its investigation. NAR says that decision involved “far-reaching and exceptionally important” errors.

Closing 269
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Off-the-grid deals: Distressed property trends and market insights

Housing Wire

In a supply-constrained housing market , even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. “It’s oddly enough in states where people are leaving,” said Florida-based real estate investor Paul Lizell of the markets where he is more focused on acquiring investment properties in 2024.

Marketing 424
article thumbnail

Worried about Home Maintenance Costs? Consider This

Keeping Current Matters

If one of the main reasons you’re hesitant to buy a home is because you’re worried about the upkeep, here’s some information you may find interesting on both new home construction and existing homes.

article thumbnail

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.

article thumbnail

DOJ: Offers of agent compensation ’should not be made anywhere’

Housing Wire

At a status hearing on Tuesday for the Nosalek commission lawsuit, a lawyer for the Department of Justice said the terms of the National Association of Realtors’ nationwide commission lawsuit settlement agreement represented “an improvement.” However, it remains unknown if the DOJ will file a statement of interest in the Sitzer/Burnett suit, as it did in the Nosalek suit, according to RisMedia , which first reported the news.

MLS 408
article thumbnail

The party is not over for NAR — ‘at least not yet’

Real Estate News

A new report describes the political might of NAR, its lavish efforts to protect it, and risks to its future posed by the government — and its own actions.

227
227

More Trending

article thumbnail

NextHome CEO on the ‘stupidest’ part of the commission settlement

Inman

James Dwiggins spoke at the inaugural Inman Connect Miami on Tuesday, arguing that clinging to the current status quo when it comes to commissions is a recipe for disaster.

Brokerage 178
article thumbnail

NEXA to give 100% of commission split to loan officers 

Housing Wire

NEXA Mortgage , the largest mortgage brokerage firm in the U.S., will pay its loan officers 100% of the commission splits “without any per-file fees or other hidden fees,” according to co-founder and CEO Mike Kortas. NEXA usually pays loan officers 220 basis points (bps) out of 275 bps on most loans. However, moving forward, it will allow LOs to access the remaining funds — the 55-bps difference — through its new program, NEXA100.

article thumbnail

Why buyer representation should matter so much to sellers

Inman

Managing broker and new Inman contributor Cassie Walker Johnson writes that in the evolving real estate market, investing in buyer agent compensation is a wise decision that benefits everyone involved.

Agents 172
article thumbnail

Why equity-tapping challenges may make reverse mortgages ‘inevitable’

Housing Wire

Tapping into home equity , particularly for people in or near retirement , can be challenging — especially for those who may have a pressing need. Traditional equity-tapping methods — such as selling the home or taking out a home equity loan — could present lifestyle challenges, which is where alternative options like reverse mortgages can come into play.

Equity 388
article thumbnail

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.

article thumbnail

Pamela Liebman to agents: Don’t forget your value proposition

Inman

The president and CEO of Corcoran Group spoke with moderator Jim Dalrymple II about recent changes in the market and how agents can explain their value to clients in the wake of commission lawsuit settlements.

Agents 162
article thumbnail

Rocket settles $3.5M lawsuit alleging unpaid employee overtime

Housing Wire

Rocket Mortgage has entered into a settlement agreement with a group of current and former employees who have alleged the company did not provide sufficient overtime pay, according to court documents reviewed by HousingWire and reporting at Bloomberg Law. In a case filed in January 2023 in the U.S. District Court for the District of Arizona , the employees alleged that they “were not paid one-and-one-half times their regular rates of pay for all time worked in excess of 40 hours in a given workw

Loans 370
article thumbnail

Home on private island in Palm Beach sells for record $150M

Inman

The sale marks a new record for lakefront properties in Palm Beach. Developer Todd Michael Glaser renovated and expanded the estate, at one point marketing it for more than $200 million.

article thumbnail

Single-family rental market continues to display strength

Housing Wire

U.S. single-family rent growth strengthened overall in March despite some weaknesses in specific markets. Single-family rent increases in March 2024 registered a 3.4% year-over-year gain, unchanged from February, according to CoreLogic ’s latest Single-Family Rent Index (SFRI). The SFRI analyzes single-family rent price changes at the national and major-metro levels.

Marketing 355
article thumbnail

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.

article thumbnail

4 luxury leaders talk commissions and protecting agent value

Inman

Luxury leaders Jay Parker, Liane Jamason, Thad Wong and Daniel de la Vega tackled commissions at Inman Connect Miami, saying agents must know and protect their value as regulatory changes draw near.

Agents 157
article thumbnail

Zillow’s new AI tool aims to promote equality in housing

Housing Wire

Zillow announced the release of an open-source tool, the Fair Housing Classifier , on Tuesday as part of the company’s efforts to “promote responsible and unbiased behavior in real estate conversations powered by large language model (LLM) technology.“ In a news release, Zillow explained that artificial intelligence (AI) tools often fail to account for the myriad requirements of fair housing laws.

article thumbnail

Is now the time to become a flat-fee or limited-service broker?

Inman

With commissions up in the air, Clever's Luke Babich writes that it may be time for some agents to explore alternative compensation models that can provide more consistent and reliable income.

Agents 155
article thumbnail

Planet Home Lending appoints new chief information officer

Housing Wire

Connecticut-based lender, servicer and asset manager Planet Home Lending has appointed Bill Shuler as executive vice president and chief information officer. In his new role, Shuler will focus on Planet’s technological growth and enhancements to its operational efficiency. “My focus has always been on creating pragmatic IT solutions that support dynamic business growth, and I am ready to build strategic partnerships across all areas of Planet and help solidify the foundation for that growth,” Sh

Lending 320
article thumbnail

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.

article thumbnail

Brad Inman: Real estate is tough in 2024. Focus on the upside instead

Inman

Inman founder Brad Inman kicked off the inaugural Inman Connect Miami on Tuesday with a heartfelt keynote on friendship, community and optimism amid real estate industry challenges.

article thumbnail

SERHANT. appoints its first chief business officer

Housing Wire

New York City -based brokerage SERHANT. is promoting its new development director, Jennifer Alese, to the position of chief business officer, The Real Deal reported on Monday. Alese will be the company’s first chief business officer, and Carolyn Sebba will replace Alese as the new development director. “I’ve been working alongside Ryan Serhant for 9+ years leading New Development for the company, and this new role will allow me to focus on the future of the brand by implementing strategic initia

Brokerage 310
article thumbnail

Calque partners with more lenders to offer ‘The Trade-In Mortgage’

Inman

This year, Calque has partnered with some big names including C2 Financial and Cornerstone First Mortgage, as well as a number of smaller players like Portland, Oregon-based Theory Mortgage.

Mortgages 142
article thumbnail

Wells Fargo has a new home loan sales leader

Housing Wire

Sandra Ho, a managing director at JPMorgan Chase , will join Wells Fargo next week as its head of home lending sales, Wells Fargo said in a statement Monday. It is a newly created role, and Ho will lead Wells Fargo’s consumer direct and distributed sales forces. She will report to Serhat Oztop, head of sales and retail transformation for Wells Fargo Home Lending.

Sales 310
article thumbnail

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.

article thumbnail

Hot themes for Vegas: Buyer representation and commissions

Inman

Don't-miss sessions at Inman Connect Las Vegas this summer include those built around value propositions, commission negotiations and the evolution of buyer agency.

Agents 146
article thumbnail

DOJ Lawyer Says No Offers of Compensation ‘Anywhere’

RIS Media

Antitrust regulators at the Department of Justice (DOJ) appear unsatisfied with the agreement struck between the National Association of REALTORS® (NAR) and plaintiffs in commission lawsuit class-actions, with a DOJ lawyer saying explicitly that they do not want any offers of compensation made by seller agents to buyer agents At a court hearing today in… The post DOJ Lawyer Says No Offers of Compensation ‘Anywhere’ appeared first on RISMedia.

Agents 135
article thumbnail

3 indie real estate brokerages that are breaking the mold

Inman

Pushing boundaries and changing the status quo, these three independent brokerages offer ideas for moving your own business forward.

Brokerage 152
article thumbnail

Should You Buy a Home As Is? A Comprehensive Review of The Considerations

Maximum Exposure Real Estate

Purchasing a house as-is can be an attractive option for many buyers. However, it involves unique processes and considerations. I will provide you with the following information so you can make the best decision. How to financially plan and explore mortgage options for an as-is home purchase. Understanding mortgage options. What steps should be taken […] The post Should You Buy a Home As Is?

As-is 132
article thumbnail

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.

article thumbnail

It’s not business. It’s personal

Inman

For multistate CEO and new Inman contributor Troy Reierson, doing business is about more than numbers. It's about a service-oriented approach that changes lives.

Brokerage 125
article thumbnail

Hold the Commission Talk: Zillow’s New Touring Agreement Lets Buyers Test the Waters

RIS Media

Most people want to date before becoming exclusive, and the same goes for hiring a real estate agent, per Zillow. Last month, the company unveiled a short-term touring agreement to get ahead of the buyer-agency agreement stipulation in the proposed NAR settlement—and has now shared additional details with RISMedia. Long-term exclusive agreements from the get-go… The post Hold the Commission Talk: Zillow’s New Touring Agreement Lets Buyers Test the Waters appeared first on RISMedia.

Agents 118
article thumbnail

Proposed Willoughby-Hart Historic District to Get Public Hearing at LPC

Brownstoner

After first contemplating a stretch of Willoughby Avenue and Hart Street in Bed Stuy for protection in 1992, the city’s Landmarks Preservation Commission has officially added it to the calendar for consideration as a new historic district, triggering an upcoming public hearing. At today’s meeting, the commissioners unanimously voted to calendar… Read More > The post Proposed Willoughby-Hart Historic District to Get Public Hearing at LPC appeared first on Brownstoner.

117
117
article thumbnail

NAR Appeals Circuit Court Decision Allowing DOJ to Restart Investigation

RIS Media

The National Association of REALTORS® (NAR) is appealing a recent court decision that allowed federal antitrust investigators to re-open their inquiry into real estate rules and practices, making another push to stymie potential further efforts by regulators to alter policies foundational to the industry. Filed late yesterday in the D.C. Circuit Court of Appeals, NAR… The post NAR Appeals Circuit Court Decision Allowing DOJ to Restart Investigation appeared first on RISMedia.

article thumbnail

5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.