Tue.Feb 27, 2024

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HUD, VA announce $14.5M for veterans seeking permanent housing

Housing Wire

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) this week announced the awarding of more than $14.5 million that will be distributed by public housing agencies (PHAs) across the country in an effort to house veterans. The funds will be distributed by the PHAs through more than 1,400 HUD-Veterans Affairs Supportive Housing (HUD-VASH) vouchers.

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Keller to buyer agents: Explain your value or ‘get the hell out’

Real Estate News

Keller Williams’ charismatic co-founder kicked off the Family Reunion event with his hot takes on the housing market “winter” and how to get through it.

Agents 338
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Cyberattack at loanDepot affects 17M individuals, with up to $17M in expenses

Housing Wire

An update on loanDepot ’s January cyberattack shows that a higher number of individuals were affected than previously disclosed, while tens of millions of dollars in additional expenses will be added to the company’s first-quarter earnings results. On Tuesday morning, the top 15 U.S. mortgage lender announced that it will notify 16.9 million individuals whose sensitive personal information was impacted by the cyber incident. loanDepot will offer credit monitoring and identity protection services

Mortgages 413
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Redfin targeted in new commissions suit blasting buyer agents

Real Estate News

The plaintiff, who paid a 2% commission, argues in the filing that “a truly competitive rate for buyers’ agents would in fact be 0%.

Agents 245
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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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Gary Keller brings buyers’ agent value proposition front and center

Housing Wire

At the 2024 Keller Williams Family Reunion event in Las Vegas, co-founder and executive chairman Gary Keller took the stage on Tuesday and spoke to a room full of real estate agents about the importance of buyer agency agreements within the context of the ongoing antitrust lawsuits. Among other services, buyers’ agents help clients navigate the extensive paperwork and negotiate the sales price of a home.

Agents 402
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Home price growth bucked historical norms in 2023

Real Estate News

Despite market challenges, the Case-Shiller Index was up 5.5% annually in December, exceeding national averages over the past three decades.

Marketing 235

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Redfin cuts losses, touts site traffic

Real Estate News

CEO Glenn Kelman highlighted new programs and told investors the company isn’t interested in an ad war: “Our basic thesis is that the best product wins.

Investor 205
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Home prices continued to rise in December

Housing Wire

Home prices maintained their momentum in late 2023. The S&P CoreLogic Case-Shiller U.S. National Home Price Index posted a 5.5% annual gain in December, up from a 5.1% gain in November, according to the latest report. For the first time in 2023, all 20 markets reported yearly gains, with four markets rising over 8%. The U.S. National Index, the 20-City Composite, and the 10-City Composite all posted month-over-month increases of 0.2%, after seasonal adjustment.

Mortgages 400
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Compass continues to add agents, improves losses

Real Estate News

Revenue dipped, but Compass managed to gain more than 1,000 agents in 2023 and cut losses for the year nearly by half.

Agents 217
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Home-based care may lead more people to age in place

Housing Wire

Seniors who have employed some kind of home-based health care service have a higher acceptance and adoption of home-based hospice services, which can provide personalized support for end-of-life care, according to a study by Rutgers University ’s School of Nursing. The findings were first reported by Hospice News. Published in the Journal of Palliative Medicine, researchers found that the observed outcomes could stem from the identification of health issues that may complicate end-of-life care p

Closing 391
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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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Why Today’s Housing Supply Is a Sweet Spot for Sellers

Keeping Current Matters

Wondering if it still makes sense to sell your house right now?

Marketing 278
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What top-performing LOs’ priorities say about the borrower retention problem

Housing Wire

After slowing to a 30-year low in 2023, the gears of housing finance are re-engaging. But before diving back in headfirst, it would be worthwhile for lenders to think through what the last two years of scarcity reveal about the normal working model of an independent mortgage bank (IMB). Last year, Floify commissioned an independent study of 150 high-performing loan originators (LOs) to gain recruiting and retention insights.

Finance 390
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Gary Keller says ‘right now, real estate is in a recession’

Inman

The real estate industry took a beating in 2023 — rising mortgage rates froze home sales, consumer sentiment slid to new lows, several landmark lawsuits threatened buyer-broker commissions, and the National Association of Realtors couldn't keep itself out of trouble. Although the industry is hoping for a brighter 2024, Keller Williams co-founder Gary Keller said agents need to prepare for another round of bitter headwinds.

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NAF taps Mosi Gatling for newly created executive role

Housing Wire

California-based New American Funding (NAF), which recently acquired Draper and Kramer Mortgage Corp. (DKMC), has tapped industry veteran Mosi Gatling as senior vice president of strategic growth and expansion, a newly created role on NAF’s leadership team. Gatling was previously a sales manager at loanDepot , where she spent almost seven years. Last year, she produced about $78 million in mortgages, consisting mainly of Federal Housing Administration (58.8% of the total) and purchase loans (9

FHA loan 390
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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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The Agency Seattle’s No. 1 broker realigns with Engel & Völkers

Inman

Alee Heidar is a rising star and was The Agency Seattle's No. 1 broker for the last two years. Now he and his brother, Yama Heidar, have joined Engel & Völkers Kirkland.

Brokerage 176
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SmartZip Review: Can data improve your prospecting game?

Housing Wire

It’s no secret that homeowners search online to find a listing agent who can sell their home quickly and for top dollar. But what if you could find them first? What if you could target the right prospects, at the right moment using data? If you’re an agent, team or brokerage looking to keep a pipeline of qualified listing leads coming your way, SmartZip may the solution you need.

Branding 366
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How to use mindfulness to build gratitude in your business each day

Inman

Aaron Hendon shares some strategies to keep negative thoughts away and visualize good things for our businesses, especially when things are difficult.

Agents 189
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Umpa commission lawsuit defendants look to get case dismissed

Housing Wire

Defendants in the Umpa copycat commission lawsuit filed a slew of motions on Monday as they sought to have the class-action allegations to be struck down and dismissed. Filed in late 2023 in the U.S. District Court for the Western District of Missouri , the lawsuit is named after its lead plaintiff, Maryland home seller Daniel Umpa. Like the other commission lawsuits, the Umpa suit alleges that the National Association of Realtors (NAR) and more than a dozen other real estate industry firms have

Brokerage 366
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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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Redfin in crosshairs as new lawsuit targets buyer-broker commissions

Inman

California resident Andrea Freedlund is suing on behalf of homesellers who paid a buyer agent in the four years before Redfin announced it was leaving NAR, according to a suit filed in federal court.

Agents 171
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Liberty parent Ocwen records $64M loss in 2023 but sees reverse as an asset

Housing Wire

Ocwen Financial Corp., parent company of PHH Mortgage Corp. and its subsidiary Liberty Reverse Mortgage , posted a $64 million loss in 2023 but sees a generally positive trajectory for its reverse mortgage origination and servicing businesses. This is according to an earnings release and conference call detailing the company’s fourth-quarter and full year 2023 results.

Principal 350
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Home prices hit high in December as ‘solid, steady growth’ wins out

Inman

Home prices rose 5.5 percent on an annual basis in December, up from 5 percent in November, according to dueling data points released Tuesday by S&P Global and the Federal Housing Finance Agency.

Finance 169
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Compass misses free cash-flow goal but remains optimistic

Housing Wire

Although Compass failed to achieve its much publicized goal of being free cash-flow positive in 2023, brokerage executives were still positive about the company’s performance over the past year. “Even at these new op-ex [operating expense] levels, we continue to invest in agent growth, increasing market share, expanding our technology advantage with approximately $100 million in annual R&D, and continue our integrated services expansion,” Compass CEO and founder Robert Reffkin told investors

Brokerage 340
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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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Rookie to rockstar: The essential guide to real estate marketing

Inman

Implement an A to Z branding and marketing plan from expert Marci James to establish yourself as a knowledgeable and trusted real estate adviser.

Marketing 177
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Rithm Capital announces deal with Great Ajax Corp.

Housing Wire

Real estate investment trust Rithm Capital , the parent of multichannel lender Newrez , has agreed to issue a one-year loan, purchase common stock and become the external manager of its peer Great Ajax Corp. New York-based Rithm Capital engaged in acquisitions last year to become a global asset manager focused on real estate. This year, it restructured its distributed retail business in a shrinking mortgage market, cutting managers and reducing compensation at NewRez, a top 10 mortgage lender an

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Redfin’s focus on cost-cutting begins to pay off in Q4 earnings

Inman

Redfin continued its recovery during the fourth quarter, with revenue declining 2 percent year over year to $218.1 million — a near 180 from its Q1 and Q2 showings where annual revenue declines topped 20 percent.

Brokerage 158
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ThoughtFocus appoints new chief business officer

Housing Wire

Financial services consulting firm ThoughtFocus appointed Santhosh Ananthakrishnan to the position of chief business officer. In his new role, Ananthakrishnan will oversee growth strategies and report directly to ThoughtFocus CEO Shylesh Krishnan. “I am very impressed with the rich portfolio of long-term customer relationships that the firm has built,” Ananthakrishnan said in a statement.

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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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Rent is falling fastest in markets that added the most new supply

Inman

Rent is now 0.7 percent lower for one-bedroom rentals nationwide than it was a year ago, but not in all markets, new report shows.

Marketing 185
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Xactus names chief operating officer

Housing Wire

Mortgage technology firm Xactus named Michael Crockett as its chief operating officer. He previously served as the company’s chief data officer. In his expanded role, Crockett will guide day-to-day operations and key departments at Xactus, including credit, verifications and tenant screening. Crockett will also evaluate internal and external customer experiences, with a focus on enhancing service quality and technical support.

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Survey supports Realtors’ claims that commissions are negotiable

Inman

Only 31 percent of homebuyers or sellers try to negotiate a lower commission, but 64 percent of those who do succeed, LendingTree survey finds.

Brokerage 165
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Three Principles That Will Turn You Into An Effective Property Manager

Bigger Pockets

The top grievances of tenants are poor communication, unfair rent increases, and a lack of transparency. Don't neglect property management, as it will cost you more in the long run. These three principles will help you maximize its impact.

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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.