Wed.Oct 09, 2024

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Senior homelessness is a growing concern, GAO reports

Housing Wire

Homelessness is an escalating problem for the growing number of U.S. seniors, according to a new report from the Government Accountability Office (GAO) based on data from the U.S. Department of Housing and Urban Development (HUD). An estimated 138,000 older Americans — those 55 and older — experienced homelessness on a single night in 2023, according to HUD data.

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The recipe for fixing Clear Cooperation — and avoiding chaos

Real Estate News

In the second of a 2-part series, NextHome CEO James Dwiggins warns of a greed-driven future if the CCP is eliminated, and shares a proposal for revising it.

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Making offers of buyer broker compensation is a tricky puzzle to solve

Housing Wire

Heading into Aug. 17 , when the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement had to be implemented, most brokers and agents were concerned about how they would disclose a seller’s offer of buyer broker compensation. What few actually considered, though, was what would happen when a buyer went from looking at a property to making an offer.

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Zillow stands firm on opposition to private listing networks

Real Estate News

President Susan Daimler reiterated the company's support for the Clear Cooperation Policy, and called private networks "terrible" for consumers and agents.

Agents 279
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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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Severe storm fallout could destabilize the intersection of mortgage and insurance

Housing Wire

The home insurance marketplace has been facing a reckoning. The challenges that higher costs place on carriers, regulators , lenders and consumers has been well documented this year, and the acceleration of extreme weather events has only made things worse. The arrival of Hurricane Helene late last month threatens to exacerbate the situation in the states it struck.

Mortgages 459
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How buyers have (and haven’t) changed in recent years

Real Estate News

Zillow’s latest trends report finds that, despite turbulence in the market, consumer traits and preferences are fairly stable — with some key exceptions.

Marketing 230

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Two Reasons Why the Housing Market Won’t Crash

Keeping Current Matters

You may have heard chatter recently about the economy and talk about a possible recession.

Marketing 261
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Mortgage demand drops as interest rates rise, economy remains resilient

Housing Wire

After reaching their highest level since July 2022 , mortgage applications have declined for two straight weeks, counteracting some recent positive signs for a still-sputtering housing industry. According to weekly data released Wednesday by the Mortgage Bankers Association (MBA), applications shrank 5.1% on a seasonally adjusted basis during the week ending Oct. 4.

VA loan 458
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Brad Inman: Stop worrying about fitting in and follow your dreams

Inman

The entrepreneur and founder of Inman Group gets why people don't want to stand out. But there's also risk in letting dreams go unfulfilled, he told the audience at an Inman real estate conference in Austin.

Agents 183
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eXp Realty lands 21-agent team in Northern California

Housing Wire

In its race against other brokerages to add agents, eXp Realty has scored big in California. Prime Real Estate Team is leaving the white-label brokerage Side and taking its 21 agents to eXp. Led by the wife-and-husband team of Angelica Galeana Yost and Robert Yost, the team serves the Sacramento and Folsom areas of Northern California. Robert Yost is a 19-year veteran in real estate, and Angelica serves as co-team lead and director of growth.

Land 448
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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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Mr. Cooper adds to leadership team with eye on technology

Inman

Sridhar Sharma, who's credited with developing Mr. Cooper's patented AI, has been promoted to a new role, and three new tech leaders are joining from other companies.

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If commission rates drop, these real estate brokerages could be in trouble

Housing Wire

If commission rates drop significantly as a result of the National Association of Realtors antitrust lawsuit settlement, it’s potentially an existential threat to many brokerages. But which ones and how many? Data from AccountTECH might bring us closer to an answer. Based on a sample of 100 brokerages of varying sizes and expenditures, the data shows a general trend of larger brokerages being more sensitive to a drop in commission rates than smaller ones.

Brokerage 435
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Strong jobs report paints brighter economic picture: Economist

Inman

In this exclusive video series on Inman, Windermere’s Principal Economist Jeff Tucker illuminates the latest stats, reports and numbers you should know. This week: The latest employment numbers.

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‘Zillow, virtually stage my listing photos in an art deco style with pink accents!’

Housing Wire

Zillow Group is continuing its quest to become a one-stop shop to serve all the needs of a real estate agent. On Tuesday, the residential real estate giant announced the acquisition of Virtual Staging AI (VSAI). The financial terms of the deal were not disclosed. Founded in 2023 by Michael Bonacina and Mikhail Andreev, VSAI helps home sellers, agents and photographers create digitally staged images of a listing, eliminating the need for physical furniture in the home. “ We’re excited to bring th

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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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Agents ‘not buying’ industry pleas to keep Clear Cooperation rule

Inman

Inman Connect Austin kicked off with a spirited debate about Clear Cooperation and the disconnect between brokerage leaders and agents over whether to keep it.

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Top agents boomerang back to Coldwell Banker Realty

Housing Wire

A pair of top-producing agents are returning to Coldwell Banker Realty. On Wednesday, the brokerage announced that Leominster, Massachusetts -based Lynn Walsh and Charlotte -based Victoria Speer are coming back to the firm. Walsh departed Coldwell Banker Realty in April 2024 to join Lamacchia Realty , but she recently made the decision to return. “I’m very excited to be back and working with my esteemed colleagues,” Walsh said in a statement.

Agents 434
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Compass appoints new head of investor relations

Inman

Compass has hired Soham Bhonsle as its head of investor relations, according to an announcement on Wednesday. In his new role, Bhonsle will be responsible for maintaining strong investor relationships and maximizing shareholder value.

Investor 173
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Move isn’t backing down in its fight against CoStar

Housing Wire

In its ongoing battle with CoStar , the parent company of Realtor.com is not giving up without a fight. Initially filed by Move Inc. in July, the lawsuit centers on James Kaminsky, a former Realtor.com employee who went to work at CoStar-backed Homes.com after being laid off by the Move subsidiary. In the suit, Move alleges that Kaminsky stole documents and trade secrets from Realtor.com, which he then provided to CoStar to fuel the rapid growth of Homes.com.

As-is 434
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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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Meet the new owners of the Menendez family mansion

Inman

The Iranian-American Lahijani family is practiced in real estate investment, and acquired the property in March for $17 million. The family has reportedly begun a complete renovation of the home.

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Dustin Owen exposes myths, red flags that plague the mortgage industry

Housing Wire

In a recent episode of “The Loan Officer Podcast,“ hosts Dustin Owen and John Coleman sit down to expose common mortgage industry myths that can impact everyone from the media to recruiters and branch managers. To start the episode, Owen dives into media misconceptions concerning the Federal Reserve ’s interest rate cuts and their impacts on mortgage rates and home sales.

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Realtor.com CEO Damian Eales urges caution on Clear Cooperation

Inman

Eales said the U.S. model of cooperation remains the gold standard — but declined to take a stance on NAR's policy. "Beware what you wish for," he said on Wednesday at Inman Connect Austin.

Brokerage 178
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Nearly $300M MSR offering hits the market

Housing Wire

MIAC Analytics is marketing a large mortgage servicing rights portfolio on behalf of a lender with a big book of business in California. The portfolio consists of $292.91 million in Fannie Mae , Freddie Mac and Ginnie Mae servicing rights. The seller will be providing full representations and warranties on the portfolio , which has an average loan size of $343,383.

Marketing 434
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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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Coldwell Banker, RE/MAX, eXp Realty swept up in Section 8 sting

Inman

A consumer watchdog filed complaints with California’s Civil Rights Department against 200 firms after an undercover sting found that the vouchers were refused repeatedly across the state.

Brokerage 178
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‘Rules of the Game’ presentation returns to tackle reverse pros’ misconceptions

Housing Wire

“Rules of the Game,” a popular interactive session from past annual meetings of the National Reverse Mortgage Lenders Association (NRMLA), returned in 2024 to the San Diego event that took place at the end of September. Hosted by reverse mortgage educators Dan Hultquist and Jim McMinn, the pair aimed to once again point out how guidelines can often be misunderstood in the reverse mortgage industry.

Mortgages 431
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Real estate is still processing Aug. 17 and Clear Cooperation

Inman

During a panel at Inman Connect Austin on Wednesday, Rachel Hocevar of Compass and Romeo Manzanilla of @properties Christie's International Real Estate discussed the implications of industry shakeups.

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Mr. Cooper shakes up technology leadership

Housing Wire

Mr. Cooper Group has made some changes to its technology leadership, led by the promotion of Sridhar Sharma to the roles of executive vice president and chief innovation and digital officer, the company announced on Wednesday. Sharma has been the company’s chief information officer for the past decade, leading the development of Pyro AI, the company’s artificial intelligence (AI) and advanced machine learning platform.

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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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What’s the biggest challenge NAR faces today? Pulse

Inman

With legal and leadership challenges aplenty, what do you see as the most intractable problem for the National Association of Realtors today?

MLS 183
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The Slippery Slope of BRRRR—Is It Still the Best Way to Run Your Landlording Business?

Bigger Pockets

The BRRRR strategy (buy, rehab, rent, refinance, repeat) is based on finding discounted properties, fixing them up, renting them out, refinancing, and socking away the cash flow with a long-term tenant, and repeating the process until you have amassed a sizable monthly cash flow. In 2024, I largely believe that it's unrealistic.

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Super App stronger, Zillow acquires Virtual Staging AI

Inman

Another online space editor means the portal leader continues to focus on helping agents better serve sellers and buyers better grasp the potential of a prospective home.

Staging 178
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Court Nixes Sale of Dangler Mansion Site, Throwing Its Future Into Question

Brownstoner

In a rare case of the state blocking a property sale over questionable dealings, a judge has sided with the attorney general in a long running drama that has pitted locals and preservationists against a developer and a nonprofit in Bed Stuy. In a dramatic development, a Kings County Supreme Court… Read More > The post Court Nixes Sale of Dangler Mansion Site, Throwing Its Future Into Question appeared first on Brownstoner.

Sales 125
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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.