October, 2023

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Missouri jury finds NAR, brokerages guilty of conspiring to inflate commissions

Housing Wire

A Kansas City jury has found the National Association of Realtors , HomeServices of America and Keller Williams guilty of colluding to inflate or maintain high commission rates through NAR’s Clear Cooperation Rule, in the Sitzer/Burnett buyer broker commission lawsuit. The defendants have been ordered to pay damages of $1.78 billion. The jury reached its verdict after a little over two weeks of testimony from the plaintiffs and defendants.

Brokerage 545
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The Latest Expert Forecasts for Home Prices in 2023

Keeping Current Matters

Are you thinking about making a move?

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Pickleball Helps Florida Broker Net Real Estate Deals

National Association of Realtors: Culture Scan

Pickleball Helps Florida Broker Net Real Estate Deals Jay Granieri of One Sotheby’s International Realty in Fort Lauderdale says America’s fastest-growing sport is a perfect match for finding new leads.

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23 Tips for Selling a Home with Kids: A Helpful Guide

Realty Biz

Selling a home can be a stressful and challenging process, and when you add kids into the mix, it can become even more complicated and overwhelming. Children can create chaos, and their needs and routines can clash with the demands of home showings and open houses. However, with some careful planning and a bit of patience, you can successfully navigate the home-selling process while keeping your kids happy and your sanity intact.

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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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How luxury agents can leverage buyer trends for historic homes

Inman

The desire for uniqueness is driving a rising demand for historic homes in the luxury real estate sector. Buyers today love the character and craftsmanship that a historical property exudes, and want a home that expresses their one-of-a-kind personality and preferences.

Agents 185
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Jury sides with home sellers in commissions trial

Real Estate News

After less than three hours of deliberation, the jury ruled for the plaintiffs in the landmark Sitzer/Burnett trial, awarding nearly $1.8 billion.

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Home Prices Are Not Falling

Keeping Current Matters

During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023.

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What is the Cost of a Transaction Coordinator in Real Estate?

RIS Media

The world of real estate is known for its complexities, paperwork and intricate processes. Buyers and sellers often rely on professionals to guide them through these intricacies. One such professional is the real estate transaction coordinator (TC). We will explore the role of a transaction coordinator in real estate and the cost associated with their… The post What is the Cost of a Transaction Coordinator in Real Estate?

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Property Taxes by State – 2022

Eye on Housing

NAHB analysis of the 2022 American Community Survey data shows that New Jersey leads the nation with the highest average annual real estate tax (RET) bill ($9,285)—$8,425 more than yearly property taxes paid by Alabama’s homeowners ($860). The size of this disparity grew 1.1% in 2022 and has increased 9.3% since 2017. Vermont was the only state for which the.

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Sitzer | Burnett: Live updates from the buyer-agent commission trial

Inman

The long-awaited Sitzer | Burnett commission trial is underway in Kansas City, Missouri, and Inman is covering it all live as it unfolds. Check back early and often for news, views, schedules and more.

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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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Anywhere, RE/MAX drop buyer commission and NAR requirements

Real Estate News

The brokerage giants have agreed to significant policy changes as part of their settlement agreements in the Sitzer/Burnett and Moehrl commissions cases.

Brokerage 319
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New listings data unfazed by 8% mortgage rates

Housing Wire

The haunted house ride with the bond market and mortgage rates continued this week, but one housing data line hasn’t been spooked. New listing data appears unafraid of the mortgage rate ghost story over the last few months. Unlike last year, when new listings data had a noticeable move lower once mortgage rates reached 6%, 8% mortgage rates haven’t had any noticeable impact on the latest new listings data.

Mortgages 535
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Redmond could be a national model for reinventing suburban downtowns

Seattle Times Real Estate

While Seattle suburbs have felt growing pains as their populations soar, this bustling Eastside suburb rebuilt itself to prioritize transit and life downtown.

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Common Myths About Selling Houses

RIS Media

Selling a house can be complex and daunting, often filled with anxiety and uncertainty. Unfortunately, several myths and misconceptions surrounding home sales can further complicate matters for homeowners looking to sell their properties. We will delve into the common myths about selling houses and debunk them, providing clarity and valuable insights for anyone embarking on… The post Common Myths About Selling Houses appeared first on RISMedia.

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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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Housing Lottery Opens for First-Time Home Buyers for 11 Bed Stuy, Crown Heights Houses

Brownstoner

An affordable housing lottery has opened for the sale of 11 two- and three-family houses in Bed Stuy and Crown Heights. The lottery is specifically for first-time home buyers with households of between two and seven people earning between $104,500 and $227,630 a year. The cheapest house in the lottery,… Read More > The post Housing Lottery Opens for First-Time Home Buyers for 11 Bed Stuy, Crown Heights Houses appeared first on Brownstoner.

Sales 128
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Why high-net-worth individuals are purchasing secondary homes

Inman

Owning multiple properties is relatively common with ultra-high-net-worth individuals. Agents should be well-versed in helping them identify and acquire secondary homes that fulfill their needs and goals.

Agents 206
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'Conspiracy' front and center as commissions trial kicks off

Real Estate News

On day two of the Sitzer/Burnett trial, the plaintiffs presented opening arguments, while the defense said conspiracy claims are "conjecture.

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DataDigest: Nearly 100,000 LOs have washed out

Housing Wire

For years broker channel evangelists told me that a down market would give them an edge on their retail brethren. Well, it’s certainly been a down market. How has the broker channel fared in the wake of the Fed rate hikes ? I asked the good folks at mortgage data technology firm InGenius to run the numbers. Take a look. “From the first six months of 2022 to first six months of 2023, brokers have increased their percentage from 23% to 28% while retail has decreased by that same percen

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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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Seattle voters to decide on $970M levy to fund affordable housing

Seattle Times Real Estate

Supporters say the levy marks a "critical investment" in the city's housing stock, while a sole prominent skeptic argues for other strategies to address the housing shortage.

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Spec House vs. Custom Home: What’s the Difference?

RIS Media

When it comes to buying a new home, you’ll often hear terms like “spec house,” “spec home,” or “spec housing” alongside “custom home.” These terms refer to distinct real estate and new construction approaches offering unique advantages and considerations. We will examine the differences between spec houses and custom homes to help you decide when… The post Spec House vs.

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Pending Home Sales Rise Modestly in September 2023

NAR: Economic Outlook

Pending Home Sales Rise Modestly in September 2023 In September 2023, the pending home sales pace increased 1.1% from the previous month but fell 11% year-over-year.

Sales 132
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RE/MAX becomes 3rd major firm to distance itself from NAR

Inman

In announcing the details of its settlement in the bombshell commission suits, the franchisor said that agents and brokerages would "have the freedom to set and/or negotiate commissions as they see fit.

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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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New commissions lawsuit filed on the heels of Sitzer/Burnett verdict

Real Estate News

After the jury unanimously found for the plaintiffs in the Missouri case, the lead attorney announced he was filing a nationwide suit naming NAR, 7 brokerages.

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The upside of 8% mortgage rates? More inventory

Housing Wire

If I had told you on Dec. 31, 2022, that mortgage rates would hit 8% in 2023, you would reasonably assume housing inventory would sky rocket higher, home prices would fall noticeably, and the number of price cuts would be higher year over year. Instead, the opposite has happened: home prices nationally hit an all-time high, inventory is still down year over year and the percentage of price cuts is 4% below last year’s level.

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Worst Places To Live In Florida For Families & Retirees 2023-2024

Marco Santarelli

So you're considering a move to Florida? Well, before you start packing your bags, it's essential to know which areas you might want to avoid. Whether you're planning a family life or looking for a relaxed retirement spot, Florida offers a range of options. However, there are certain places that may not be the best fit for families and retirees alike.

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Leveraging the Power of Attorney to Sell a House

RIS Media

Selling a property is often a complex and time-consuming process involving various legal and logistical aspects. However, what happens when you, as a homeowner, cannot handle these responsibilities personally? This is where a power of attorney (POA) in real estate can come into play. We will examine using a power of attorney to sell a… The post Leveraging the Power of Attorney to Sell a House appeared first on RISMedia.

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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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Inside a Modern Malibu Masterpiece

Sotheby's International Real Estate

High above the shoreline in Malibu, this distinctive contemporary residence befits its rarefied setting, from the clean lines of its exemplary architecture and its sophisticated interior aesthetic to the unparalleled views enjoyed from nearly every vantage point. Malibu, California | Gayle Pritchett-MacLeod, Lacey Rose Gordon, Sotheby’s International Realty – Malibu Brokerage Attention to craftsmanship and detail is readily apparent throughout the 6,735-square-foot, five-bedroom residence,

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Anywhere unveils the details of its bombshell commission settlement

Inman

Among the proposed changes, Anywhere said its company-owned brokerages, franchisees and affiliated agents will no longer be required to belong to the National Association of Realtors.

Brokerage 202
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NAR might have more paths to victory in commissions cases

Real Estate News

Defendants presented opening arguments during week one of the Sitzer/Burnett trial. An industry lawyer sees two additional ways they might prevail in court.

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Consumers point to mortgage rates, not home prices, as key barrier to affordability 

Housing Wire

Elevated mortgage rates continue to dampen already-pessimistic consumer housing sentiment and create affordability woes for both homebuyers and sellers. That feeling is underscored in Fannie Mae ’s latest Home Price Sentiment Index (HPSI), which decreased by 2.4 points in September to 64.5. The index tracks the housing market and consumer confidence to sell or buy a home.

Mortgages 510
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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.