Sat.Oct 28, 2023 - Fri.Nov 03, 2023

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Plaintiffs Triumph in Burnett Case as Jury Finds NAR, Brokerages Conspired to Fix Prices

RIS Media

KANSAS CITY—After four years working its way slowly through the federal judicial system and two weeks of contentious courtroom drama, the landmark Burnett class-action case delivered a massive blow to organized real estate today, with an eight-member jury deliberating for less than three hours before finding that real estate power players conspired to inflate commissions… The post Plaintiffs Triumph in Burnett Case as Jury Finds NAR, Brokerages Conspired to Fix Prices appeared first on RIS

Brokerage 132
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Don’t Believe Everything You Read About Home Prices

Keeping Current Matters

According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months.

Marketing 299
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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 195
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Freddie Mac House Price Index Increased in September to New High; Up 5.2% Year-over-year

Calculated Risk Real Estate

Note: The Freddie Mac index is a repeat sales index using only loans purchased by Fannie and Freddie and includes appraisals. See FAQs here. Freddie has data for all states and many cities. For house prices, I’m currently following Case-Shiller, FHFA , CoreLogic , Black Knight , the NAR median price s, and this Freddie Mac index. Freddie Mac reported that its “National” Home Price Index (FMHPI) increased 0.8% month-over-month on a seasonally adjusted (SA) basis in September.

Loans 124
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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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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.

Staging 132
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The Landlord’s Guide to Security Deposits

Bigger Pockets

Renting properties to tenants is a great way to earn passive income, but you must follow many laws and rules, including collecting security deposits. Before you begin renting to tenants, it’s important to understand the answer to what is a security deposit and all the factors that go into it.

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Thinking About Selling Your House? “Life Happens” Buyers Are an Opportunity You Don’t Want to Miss

Lighter Side of Real Estate

It’s hard to escape the talk about rising interest rates and how they’re supposedly scaring away potential homebuyers. So if you’ve been thinking about selling, there’s a good chance it might be causing you to put those plans on hold and wait for buyers to re-enter the market. But before you put your home sale plans on hold, there’s a timeless truth that bears repeating: there are always “life happens” buyers in the market looking to buy a home, as Marketplace recently reported in th

Sales 108
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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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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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A Real Estate Agent Helps Take the Fear Out of the Market

Keeping Current Matters

Do negative headlines and talk on social media have you feeling worried about the housing market?

Marketing 263
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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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Big drop in mortgage rates as unemployment hints at recession

Inman

After breaching 8 percent in mid-October, 30-year fixed mortgage rates have plummeted to levels not seen since September as more investors expect Fed policymakers to lower rates in the spring.

Mortgages 206
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13 video marketing best practices for your real estate business

Housing Wire

When it comes to marketing your real estate business, video is king. Global statistics from 2023 show that people watch videos an average of 100 minutes a day, with millennials — the largest share of homebuyers in the U.S. — spending 10 to 20 hours a week watching videos. From short Instagram reels to longer videos on YouTube , video is here to stay.

Marketing 544
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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.

Brokerage 317
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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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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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Jury awards $5B to homesellers in landmark Sitzer | Burnett verdict

Inman

Jurors on Tuesday shocked the real estate industry, awarding damages adding up to $5.36 billion to homesellers after deliberating for 2 hours and 28 minutes.

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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.

Mortgages 508
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Zillow acquiring popular Follow Up Boss CRM

Real Estate News

The home search giant’s latest acquisition will help support its “housing super app," said Chief Industry Development Officer Errol Samuelson.

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Woman Who Claimed Abandoned East New York House Fights Investors for Possession

Brownstoner

Ten years ago Sybil Green, who goes by the name Tami, was biking down a stretch of Jackie Robinson Parkway's residential frontage road, which connects Vermont Street in East New York with Highland Park, when she noticed a house that looked in disrepair, with a door ajar and a bright… Read More > The post Woman Who Claimed Abandoned East New York House Fights Investors for Possession appeared first on Brownstoner.

Investor 133
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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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Is now the right time to start your new side hustle?

Inman

Whether you're saving for something big or trying to figure out how to stay in real estate until the market turns, Erin McCormick Torres offers tips to help you develop new streams of income.

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At last: Softer labor data sends mortgage rates lower

Housing Wire

The jobs report today which should move mortgage rates lower, demonstrates why it’s time for the Federal Reserve to land the plane. The labor market doesn’t show wages spiraling out of control as it did in the 1970s because the inflation data doesn’t look like anything in the 1970s. We had a solid job openings print this week and jobless claims are still near historic lows.

Mortgages 496
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Mortgage rates level off after rising for 7 weeks

Real Estate News

After steadily climbing this fall, average rates — which have been hovering near 8% — inched down this week, but continued fluctuations are likely.

Mortgages 311
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The Future of Luxury Living: Smart Home Technology

Realty Biz

When it comes to high-end living, smart home technology is not just a trend; it’s revolutionizing the way we experience comfort and convenience. And every luxury home should take advantage of smart home technology. The innovations are impressive, from automated lighting systems that adjust based on natural sunlight to voice-activated assistants that can control various aspects of your home.

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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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DelPrete: How Zillow pressures its agent partners to plug mortgages

Inman

Zillow is shoring up its Home Loans business by ratcheting up pressure on Flex agents, who refer clients to the mortgage arm or risk losing future leads, tech advisor Mike DelPrete writes.

Agents 192
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Bob Goldberg out as NAR CEO

Housing Wire

The National Association of Realtors’ longtime CEO Bob Goldberg is leaving the trade association, multiple sources with knowledge of the situation have confirmed to HousingWire Thursday morning. “We are immensely grateful for Bob’s leadership and decades-long service to NAR,” Tracy Kasper, current NAR president, said in a statement. “It has been a privilege to work with him in expanding and strengthening our organization, and we congratulate him on his well-deserved retirement.

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Jobs report could mean lower mortgage rates are coming

Real Estate News

The pace of jobs and wages slowed in October, which may reduce inflation and potentially knock down mortgage rates in time for the spring selling season.

Mortgages 294
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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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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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Sitzer | Burnett closing arguments wrap as judgment day approaches

Inman

In a final push on Monday, attorneys for real estate franchisors and the National Association of Realtors argued that homesellers in the case failed to prove a conspiracy to inflate commissions.

Closing 193
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Brokers prepare for changes after Sitzer/Burnett commission lawsuit verdict

Housing Wire

The real estate industry as agents and brokers know it has been turned upside down. It remains to be seen exactly what the guilty verdict in the Sitzer/Burnett commission lawsuit means for agents and brokers, as the industry waits for Judge Stephen Bough’s injunction. However, real estate brokers across the country have already begun preparing themselves, their firms and their agents for the worst.

Brokerage 479
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Bob Goldberg out at NAR, Chicago media exec in

Real Estate News

Nykia Wright, previously CEO of the Chicago Sun-Times, will be interim CEO. Goldberg had previously announced plans to depart in 2024.

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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,

Brokerage 126
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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.