Fri.Jun 02, 2023

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Jobs data shows the truth about the labor market

Housing Wire

We’ve had some odd job reports over the years, but the key is to always follow the trend. That’s especially important with Friday’s data , which showed 339,000 jobs were created in May even while the unemployment rate increased. As someone who wrote that we should get job openings toward 10 million in this expansion, I am always mindful of my other labor talking point.

Marketing 441
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Will AI replace real estate agents?

Inman

While AI has the potential to automate and certainly enhance many aspects of the real estate industry, writes California Realtor Ken Sisson, it is unlikely to replace human agents completely anytime soon.

Agents 152
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Pretium Partners to acquire 4,000 D.R. Horton rental homes in $1.5B deal

Housing Wire

Real estate investment management firm Pretium Partners is acquiring thousands of homes from home construction company D.R. Horton Inc. in a $1.5 billion deal, as Bloomberg first reported. The deal includes a combination of completed homes and homes that are not yet finished, according to the outlet, which cited people familiar with the transaction who asked not to be named.

Lending 403
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Robert Reffkin’s mom, Ruth, has joined Compass’ Garson Team

Inman

The senior Reffkin's move to the social media-forward team will create a cross-generational collaboration that capitalizes on combining varied skill sets to best help clients, Inman exclusively learned.

Brokerage 142
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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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Kamala Harris talks proposed AVM bias rule as White House announces new appraisal actions

Housing Wire

On the heels of a Thursday announcement by six federal agencies unveiling a proposed rule that would implement quality control standards that govern the use of automated valuation models (AVMs), Vice President Kamala Harris weighed in. “Today, I’m proud to announce we are developing a rule that will require that financial institutions ensure that their appraisal algorithms are not biased, for example, that they do not produce lower valuations for homes owned by people of color,” Harris said Thur

Equity 401
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ChatGPT plugin to empower Zumper search experience

Inman

Machine learning has been a component of Zumper's overall solution for some time, but its ChatGPT use will enhance consumer-facing interactions primarily in terms of search, according to the company.

More Trending

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Your Inbox Zero obsession won’t make you a better agent

Inman

In his first column for Inman, Jay Papasan, the co-author of "The One Thing," says that while Inbox Zero is held up as a productivity ideal, it's not necessary for streamlined email management.

Agents 136
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Mat Ishbia talks the ‘loser mentality,’ the controversial ‘ultimatum’ and the years ahead

Housing Wire

Mat Ishbia is optimistic about the mortgage market. The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. Meanwhile, 2025 and 2026 will be off the charts. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ?

Mortgages 369
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Quality control standards for AVMs may cover discrimination

Inman

Proposed standards would include random sample testing and reviews to ensure a "high level of confidence" in the estimates produced by AVMs.

Mortgages 148
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Polly appoints Cheryl Messner as chief customer officer

Housing Wire

Polly , a leading provider of innovative mortgage capital markets technology , recently announced the appointment of industry veteran Cheryl Messner as chief customer officer (CCO). Messner, who has extensive experience and expertise in mortgage fintech , joins Polly as the company experiences significant growth and adoption in the industry. “Polly has revolutionized traditional pricing and loan delivery, while simultaneously establishing an unmatched reputation with their customer partner

Mortgages 340
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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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Hiring in real estate ramps up — but lags behind other industries: Labor

Inman

May was a strong hiring month for the U.S. as a whole. But in a down market, real estate didn't quite keep pace, according to new jobs data released Friday by the Bureau of Labor Statistics.

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ESSA Bank to pay $3M to settle DOJ’s redlining allegations

Housing Wire

The U.S. Department of Justice (DOJ) this week announced that it had secured a settlement of more than $3 million from Philadelphia, Penn.-based ESSA Bank & Trust over allegations that the company engaged in redlining majority Black and Hispanic communities from access to credit services around the Philadelphia area. According to a complaint filed by DOJ in the U.S.

Banks 304
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SEE: Inside ‘Fifteen,’ The Agency’s first-ever NYC luxury condo project

Inman

The brokerage launched sales this week for its first-ever luxury condo new development project in The Big Apple. Sales agent Shane Boyle filled Inman in on all the juicy details, including the unparalleled views.

Brokerage 129
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Luxury Real Estate Headlines: First Week in June 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Olive, New York | Four Seasons Sotheby’s International Realty The country estate sits on more than 10 acres of private property. Penn Badgley’s Catskills Home Lists for $1.7 Million – Architectural Digest A Huge Sonoma Mansion Hits the Market for $15 Million – Bloomberg Live Like a King Atop Helsinki’s Marble Palace – Mansion Global In Puerto Rico, High-End Homes Sell for as Much as $40 Mi

Sales 142
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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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A 4-decade first, TopProducer rolls out lead-gen features

Inman

"Before coming to the market with our first lead product to connect consumers with real estate professionals, we wanted to create even more meaningful conversations for agents by enhancing our proven lead engagement technology," TopProducer's Kerm Foltz said.

Agents 124
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Former Hudson Jewelry Store and Coffin Manufactory, Yours for $1.25 Million

Brownstoner

One of the brightly painted facades along Hudson's main shopping street, this 19th century brick building has had an equally colorful commercial history as a spot to buy goods ranging from clocks to coffins. The exact construction date of the three-story Italianate on the market at 524 Warren Street is not… Read More > The post Former Hudson Jewelry Store and Coffin Manufactory, Yours for $1.25 Million appeared first on Brownstoner.

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UrbanDigs launches custom advisory service for NYC agents

Inman

Reports from UD Advisor examine listings and specific situations with hyper-local market data, relevant sales and custom analytics from UrbanDigs to provide agents with actionable, data-based recommendations for their businesses, Inman has exclusively learned.

Agents 116
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Mortgage Mix: Modest Decline in Rates and Applications

RIS Media

Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. According to Mortgage News Daily, the 30-year fixed-rate mortgage currently sits at 6.85% (rates had reached 7.05% on May 22, 2023). The 15-year fixed-rate mortgage sits at 6.23%, a decline of 0.13% from the May… The post Mortgage Mix: Modest Decline in Rates and Applications appeared first on RISMedia.

Mortgages 112
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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.

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Mortgage rates ease on debt deal, but jobs report fuels inflation fears

Inman

Friday's strong jobs report renews worries that the Federal Reserve is not done hiking rates to combat inflation as policymakers face June 14 decision to "hike, skip or pause.

Mortgages 114
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Social Media Savvy: How Fostering a Sense of Authenticity Builds Trust and Credibility

RIS Media

Lauren Matera, team leader of the Revel Home Team When the world shut down due to COVID-19, Lauren Matera had her hands full homeschooling three kids, on the hunt for something that was both purposeful and intentional for her. Something that she could pour her energy into, that was financially beneficial. Not willing to blend… The post Social Media Savvy: How Fostering a Sense of Authenticity Builds Trust and Credibility appeared first on RISMedia.

MLS 105
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Tick, tick, boom: The Download on the bombshell commission suit

Inman

Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: We move a step closer to the courtroom as the bombshell lawsuit's judge sets a window for scheduling the upcoming trial.

Brokerage 113
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From Living in a Van to Conquering One of America’s Most Expensive Markets

Bigger Pockets

“I was willing to make the short-term sacrifice of living in a van for the long-term benefit of living the way I want to.” Could you do this? Read this inspiring story of an investor who came from humble beginnings.

Investor 105
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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.

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SphereBuilder, another social media engine or something more? Tech Review

Inman

SphereBuilder offers listing marketing, marketing analytics, ideas for improving your online presence and a host of features to produce and measure digital marketing.

Marketing 117
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Move, Inc. CEO David Doctorow Departs; Damian Eales to Succeed

RIS Media

Damian Eales to step into the role of Move, Inc. CEO, effective June 12. David Doctorow, CEO of Move, Inc. for more than three years, has announced his departure from the company. Parent company News Corp has named Damian Eales the new CEO, effective June 12. Doctorow will stay to assist with the transition. Move,… The post Move, Inc. CEO David Doctorow Departs; Damian Eales to Succeed appeared first on RISMedia.

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Apartment at Jay-Z’s former ‘stash spot’ lists for $1.4M

Inman

The two-bedroom apartment at 560 State St. in the Boerum Hill neighborhood is in the building eulogized by the rapper as his former "stash spot" in his 2009 hit "Empire State of Mind.

As-is 110
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A Red Hook Wood Frame With Parking and Three More to See, Starting at $1.25 Million

Brownstoner

Our picks for open houses to check out this weekend are found in Red Hook, Bay Ridge, Bed Stuy, and Flatbush. They range in price from $1.25 to $1.6 million. 327 East 25th Street Price: $1.6 million Area: Flatbush Broker: Compass (Anderson Toney) Sunday June 4, 1 - 3 p.m. See it here -> 381 Decatur… Read More > The post A Red Hook Wood Frame With Parking and Three More to See, Starting at $1.25 Million appeared first on Brownstoner.

Marketing 103
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Real Estate Solutions: How to Crush Your Sales Goals and Fuel Your Pipeline

Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty

The sales cycle in real estate is frequently measured at 3+ months. During this time, real estate agents frequently lose contact with clients and miss out on opportunities because they fail to follow up and provide value to the client. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities.

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Airbnb sues New York City over ‘de facto ban’ on short-term rentals

Inman

Readers who prioritize second homes and investment properties turn to Inman’s weekly Property Portfolio email newsletter, whether they’re agents who work with this special class of clients or investors themselves.

Investor 110
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The Power Broker Interview: Bess Freedman Shares Insights on Staying Successful Amid a Shifting Market

RIS Media

Editor’s Note: RISMedia recently released its 2023 Top 1,000 Power Brokers, exclusively for RISMedia Premier Members. In this special interview series, we talk to some of our top-ranking brokers to garner their insights and strategies for sustaining their firms’ success. For more information, click here. Moving through 2021’s “champagne and caviar” days into the reality… The post The Power Broker Interview: Bess Freedman Shares Insights on Staying Successful Amid a Shifting Market a

Marketing 101
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Zillow, Elon Musk, bombshell commission suits: Inman’s Top 5

Inman

Wondering what you missed this week? Find out with Inman's Top 5 stories for the week of May 26-June 1, 2023.

Brokerage 122
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Big Job Gains Fuel Optimism, but Could Confound Fed

RIS Media

The broader labor market continues to defy every headwind, shrugging off rate hikes and weakness in a few prominent sectors as the economy added a much better than expected 339,000 jobs last month, according to the latest data from the Bureau of Labor Statistics (BLS). Construction, business services, hospitality and transportation sectors all saw big… The post Big Job Gains Fuel Optimism, but Could Confound Fed appeared first on RISMedia.

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How Enriching the Lives of Your Clients Leads to Greater Sales Success

Speaker: Ari Capogeannis, Director - Revenue Marketing at NVIDIA and Bill Pappa, Sales and Marketing Leader at Ai Media Group

Building strong personal and professional relationships with clients is a critical success factor. Sales professionals who focus on relationship building generate more leads and raise their brand awareness. Because this can take time, having regular engagements can help you cultivate these relationships more efficiently. The most effective way to accomplish this is through direct hyper-personalized touchpoints.