March, 2024

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NAR settles commission lawsuits for $418 million

Housing Wire

The National Association of Realtors has agreed to pay $418 million in damages to settle the commission lawsuits. The story was first reported by the New York Times. NAR’s legal counsel approved the settlement agreement early Friday morning. It has yet to be filed in court. Lawyers for the trade organization told the Times that they anticipate the settlement will be filed in the coming weeks, however it will still be subject to court approval.

Agents 540
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What agents need to know about commission rule changes

Real Estate News

As a part of its proposed settlement, NAR agreed to significant policy changes that will impact how all agents do business — and how buyer agents get paid.

Agents 358
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The Benefits of Downsizing When You Retire

Keeping Current Matters

If you’re taking a look at your expenses as you retire, saving money where you can has a lot of appeal.

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Association of more than 200 MLSs blasts DOJ ‘flaws’ in Nosalek case

Inman

The Council of Multiple Listing Services, a trade group of about 225 MLSs, united with Northwest MLS on Wednesday to pen amicus briefs exposing alleged flaws in the DOJ's statement of interest.

MLS 196
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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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Housing Affordability Conditions Made Progress in January 2024

NAR: Economic Outlook

Housing Affordability Conditions Made Progress in Janua At the national level, housing affordability increased in January 2024 compared to the previous month, according to NAR’s Housing Affordability Index.

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What Are the Benefits of a Modular Home?

RIS Media

Built in sections at a factory and assembled on-site, modular homes offer a unique blend of efficiency and customization. Their popularity stems from their ability to provide affordable, durable and sustainable housing options. We will examine the various benefits of modular homes and highlight why they are becoming a preferred choice for many. If you… The post What Are the Benefits of a Modular Home?

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Industry seeking clarity — and change — in FHA and VA lending

Real Estate News

NAR this week sent letters asking government lending agencies to allow buyers to finance agent compensation. Thursday, it started getting answers.

Lending 353
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What Every Homebuyer Should Know About Closing Costs

Keeping Current Matters

Before making the decision to buy a home, it's important to plan for all the costs you’ll be responsible for.

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Barbara Corcoran on the $418M NAR settlement: It’s ‘not a big deal’

Inman

Corcoran told Yahoo! Finance she doesn't believe the effects of the settlement will be as earth-shattering as many make them out to be, but that "the confusion it's causing is amazing.

Finance 194
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Beyond the Headlines: Understanding How Proposed Changes in Real Estate Commissions Will Actually Impact You as a Buyer or Seller

Lighter Side of Real Estate

You’ve probably heard the news that there are changes coming in terms of how real estate commissions are paid. This might sound exciting and like a potential game-changer for you as a home seller or buyer, with headlines proclaiming things like: “Real estate commissions are being slashed!” “Selling your house will now be less expensive!” “No more paying 6% to real estate agents!

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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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Extensive Construction in Gowanus Forecasts a Very Different Neighborhood Ahead

Brownstoner

Gowanus, an industrial and low-lying neighborhood, has been undergoing a sudden and sweeping transformation over the past year and a half. Swathes of low slung 19th and early 20th century brick industrial buildings have been demolished. In their place, ubiquitous on many blocks, are active construction sites ringed by green… Read More > The post Extensive Construction in Gowanus Forecasts a Very Different Neighborhood Ahead appeared first on Brownstoner.

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Mortgage rates helped by the Fed’s moderate stance

Housing Wire

Mortgage rates had a chance to break to new highs this year, but the Federal Reserve took a moderate tone at the last Fed meeting. We saw the benefit of lower mortgage rates with the last two existing home sales reports, which showed growth. Then mortgage rates rose, facilitating five weeks of negative purchase application data. As rates were hitting year-to-date highs, the fear was that the Fed would go hawkish in their March meeting, which could push mortgage rates toward 8% and tank 2024 dema

Mortgages 515
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California homeowners face another insurance company pullout

Real Estate News

State Farm, which stopped issuing new homeowner policies in the state last year, will no longer renew existing policies starting in July.

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4 Tips To Make Your Strongest Offer on a Home

Keeping Current Matters

Are you thinking about buying a home soon?

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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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WATCH LIVE: Ed Zorn, NextHome CEO on the $418M NAR settlement

Inman

NextHome CEO James Dwiggins, Strategic Officer Keith Robinson and Ed Zorn, the California Regional MLS general counsel, tackle NAR's big settlement. Stream it live, exclusively at Inman.

MLS 197
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FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores

Calculated Risk Real Estate

Here are some graphs on outstanding mortgages by interest rate, the average mortgage interest rate, borrowers’ credit scores and current loan-to-value (LTV) from the FHFA’s National Mortgage Database through Q4 2023 (released this morning). Current Outstanding Mortgage Rates Here is some data showing the distribution of interest rates on closed-end, fixed-rate 1-4 family mortgages outstanding at the end of each quarter since Q1 2013 through Q4 2023.

Mortgages 126
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Overflow Crowd Packs Gowanus Church for Rowdy Meeting Over Migrant Shelter

Brownstoner

Spaced elbow to elbow in Hoyt Street’s City Life Church Monday night, Gowanus locals aired their concerns at a community meeting on a migrant shelter for 400 men slated to open in a former factory building on 3rd Street. A vocal group dominated the meeting, heckling speakers and yelling snipes… Read More > The post Overflow Crowd Packs Gowanus Church for Rowdy Meeting Over Migrant Shelter appeared first on Brownstoner.

Marketing 132
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Keller Williams faces three lawsuits tied to its profit-sharing program 

Housing Wire

Three agents formerly affiliated with Keller Williams Realty — Jerri L. Moulder, David L. Bueker and Robert E. Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. The lawsuits contest alterations made to Keller Williams’ profit-sharing program, with one of them seeking a court order to halt further payouts until the case concludes.

Brokerage 500
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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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These MLSs could be on the hook for $34 million

Real Estate News

The 30 broker-owned or hybrid MLSs not covered by NAR’s settlement agreement must decide whether to pay into a settlement fund, request mediation, or fight on.

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Does It Make Sense To Buy a Home Right Now?

Keeping Current Matters

Thinking about buying a home?

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Compass to pay $57.5M to settle commission lawsuits

Inman

The news comes one week after NAR's whopping $418 million settlement was announced. Compass also agreed to make some minor changes to its business practices as part of the settlement.

MLS 194
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Renovations and Improvements That Give Home Sellers High Return on Investment

Maximum Exposure Real Estate

What Renovations Should I Make at My House Before Selling? Are you wondering about the best renovations for ROI and resale? If so, you are wise to do so. Many potential homeowners never give it a second thought. Many sellers assume that any renovations or repairs they do to their house will automatically increase the […] The post Renovations and Improvements That Give Home Sellers High Return on Investment appeared first on Maximum Real Estate Exposure.

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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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Fed Chair Powell Affirms Rate Cuts Are Coming This Year as U.S. Moves Closer to 2% Inflation Goal

RIS Media

Federal Reserve Chair Jerome Powell on Wednesday signaled that rate cuts are coming this year, sticking to the Fed’s cautious script about slashing rates too quickly before it has a sustained handle on inflation. “In our pursuit of our dual mandate, the Federal Reserve remains steadfast in promoting maximum employment and stable prices for the… The post Fed Chair Powell Affirms Rate Cuts Are Coming This Year as U.S.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

The National Association of Realtors (NAR) settlement of commission lawsuits nationwide is expected to force mortgage lenders and loan officers to find new ways of approaching listing agents and borrowers, give LOs a more significant role in the home-buying process, and encourage housing professionals to pursue dual-licensing, industry experts told HousingWire.

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94 brokerages left out of NAR commissions deal. What’s next?

Real Estate News

Top companies and MLSs outside the settlement can take part in a streamlined process to pay into a fund — but it could cost millions.

Brokerage 354
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New Bill in Congress Targets Real Estate Investors—Here’s Why This Could Be a Big Problem

Bigger Pockets

Another bill is targeting real estate investors—this time, with a goal to “help Main Street compete with Wall Street.” What's in the bill? And what are the consequences for investors if passed?

Investor 131
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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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Let’s debunk 7 mainstream media falsehoods, post-NAR settlement

Inman

Premier Sotheby’s International Realty President and CEO Budge Huskey corrects the record on commissions — and the potential impact of the NAR settlement on buyers, sellers and agents.

Agents 192
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House Selling Tips For a Successful Sale

Maximum Exposure Real Estate

How to Sell a House Do you want some of the best advice on how to sell a home? Who wouldn’t? Selling your home will take some work, but just because it will take effort does not mean it needs to be any more complex than necessary. By being smart about how you use your […] The post House Selling Tips For a Successful Sale appeared first on Maximum Real Estate Exposure.

Sales 130
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NAHB Releases What Home Buyers Really Want, Study Shows Buyers Want Smaller Homes

Eye on Housing

Continuing NAHB’s commitment to be at the forefront of research on home buyer preferences, the 2024 edition of What Home Buyers Really Want was recently released at the International Builders’ Show. The primary objective of the study is to provide builders, manufacturers, architects, and the general residential construction industry with a thorough analysis of what.

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As insurance costs rise, Florida homeowners are given a new option

Housing Wire

Florida is reckoning with a severe homeowners insurance crisis. The recent surge in both the frequency and intensity of hurricanes that have battered the state has prompted numerous insurers and reinsurers to exit the market , leaving Florida homeowners grappling with skyrocketing premiums and limited coverage options. According to the Insurance Information Institute , this exodus has resulted in Florida homeowners paying an average of nearly $4,000 a year in insurance , which is nearly three ti

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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.