Sat.Nov 04, 2023 - Fri.Nov 10, 2023

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Mother of all commission suits filed in Illinois, this time by homebuyers

Inman

"Batton 2," exponentially larger in scope than Sitzer | Burnett and the Moehrl commission suits, was filed last week in Illinois and takes aim at many of the defendants in another new suit called Gibson.

Brokerage 179
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6 Books for Real Estate Agents to Add to Their Wish Lists

Tom Ferry

Here are six of the best books for real estate agents to add to their holiday reading lists. The end of the year is here. As we walk into 2024, there are three things we need to work on cultivating more than anything else: focus, discipline, and inspiration. And there’s no better way to get […] The post 6 Books for Real Estate Agents to Add to Their Wish Lists appeared first on Tom Ferry.

Agents 103
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Don’t believe the doomsayers — buyer agency is here to stay

Real Estate News

Following the Sitzer/Burnett verdict, the internet has been buzzing about the end of buyer agency. Industry expert Russ Cofano says that's just a lot of noise.

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Reasons To Sell Your House Before the New Year

Keeping Current Matters

As the year winds down, you may have decided it's time to make a move and put your house on the market.

Marketing 312
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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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Property taxes have been rising. Here’s what it means for housing

Housing Wire

In many communities, homeowners and homebuyers have been hit with eye-popping property tax increases. It is costing more for schools and governments to pay for services. And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments. But opinions differ on how much impact higher taxes are having on local housing and mortgage markets.

Mortgages 541
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Inventory Watch

BubbleInfo

Though the industry is reeling from the controversial lawsuit verdict last week, new listings and new sales keep happening every day – people want and need to move, thankfully. We are too close to the end of the year to have any violent swings in the market.

More Trending

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Homeowner Net Worth Has Skyrocketed

Keeping Current Matters

If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision.

Marketing 284
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Have mortgage rates peaked for this cycle?

Housing Wire

After mortgage rates spiked to 8% in October, causing a riot in the real estate industry, we had an epic move lower in mortgage rates last week. Does this mean we’ve hit the peak in mortgage rates for this economic cycle? The history of economic cycles and mortgage rates would say yes, but only if the market believes the Federal Reserve is done hiking rates and being hawkish and the labor data gets softer from here.

Mortgages 491
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Commission lawsuits are piling up. Keep track of them all right here

Inman

In the wake of the Sitzer | Burnett verdict, the number of bombshell lawsuits has rapidly multiplied — putting more pressure than ever on real estate's status quo. Here's a rundown of all the cases.

Brokerage 194
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A post-verdict future is taking shape fast — here’s what to do

Real Estate News

More settlements and MLS changes are coming, the CEOs of NextHome and T3 Sixty say. Agents need training, and they’re not the only ones.

MLS 279
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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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Thinking About Using Your 401(k) To Buy a Home?

Keeping Current Matters

Are you dreaming of buying your own home and wondering about how you’ll save for a down payment? You're not alone.

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Commission lawsuits spread to Manhattan

Housing Wire

It appears that no real estate brokerage firm in the U.S. is safe from a commission lawsuit. On Wednesday, Manhattan home seller Monty March filed a lawsuit in U.S. District Court in the Southern District of New York, alleging that Real Estate Board of New York rules governing the multiple listing service in Manhattan kept commissions high and violated state and federal antitrust laws.

Brokerage 469
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3 timeless strategies for agents to prepare for productivity in 2024

Inman

Believe it or not, there are less than two months left in 2023. And there’s no better time than right now for real estate agents to evaluate their recent productivity and establish the framework for success in the year ahead.

Agents 188
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Compass CEO expresses 'confidence' in commissions following verdict

Real Estate News

In the Q3 earnings call, Robert Reffkin said Sitzer/Burnett probably won't lower commission splits, highlighted the company's strength despite continued losses.

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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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How VA Loans Can Help Make Homeownership Dreams Come True

Keeping Current Matters

For more than 79 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes.

VA loan 261
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Banks report tighter lending standards for mortgages, HELOCs in Q3

Housing Wire

Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The tightening came amid elevated interest rates and uncertainty in economic conditions. A survey taken by the Federal Reserve showed that a 20%-plus share of banks reported having tightened standards on non-qualified-mortgage (non-QM) jumbo residential loans (23.9%), QM jumbo loans (26%), non-QM non-jumbo (20.4%) and HELOCs (2

Lending 450
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Inman reveals winners of inaugural Best of Proptech awards for 2023

Inman

In recognition of the entrepreneurs, venture capitalists and visionaries pushing real estate forward, the "Best of Proptech" honors cap the yearlong expansion of Inman's awards program.

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Brokerage on a mission gives millions back to military families

Real Estate News

In a Navy town, McKenzie Better Homes and Gardens Realty supports military families and veterans with more than the typical real estate services.

Brokerage 256
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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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Living in The Suburbs vs. The City: The Pros and Cons of Each

RIS Media

When choosing a place to call home, one of the most fundamental decisions is whether to reside in the suburbs or the city. Both settings offer distinct lifestyles and advantages, catering to various preferences and needs. To make an informed decision, it’s essential to understand what suburban areas are, what the suburbs entail, and what… The post Living in The Suburbs vs.

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30-year mortgage rates see largest one-week drop in a year, reviving mortgage demand

Housing Wire

As 10-year Treasury yields tumbled, the average 30-year fixed mortgage fell 26 basis points in the week ending Nov. 9, the largest one-week decrease since last November. The 30-year, fixed mortgage averaged 7.5% as of Nov. 9, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down significantly from last week ’s 7.76% and up from 7.08% the same week a year ago.

Mortgages 466
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Real estate software is reaching critical mass. What’s the solution?

Inman

In physics, critical mass is a nuclear term. It’s the minimum amount of a given material that you need to set off a self-sustaining chain reaction. While that may be a good thing in nuclear physics — where you typically want to start chain reactions — you don’t usually want to see the same sort of reaction in a business setting.

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Big rate drop could mean flurry of Thanksgiving home sales

Real Estate News

Mortgage rates took a dive this week, experiencing the largest one-week decline in a year.

Sales 321
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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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Op-Ed: Agent Commissions’ Possible New World: A Step Backward for Fair Housing

RIS Media

The United States real estate market is actually the envy of the world. The U.S. boasts the world’s most orderly, efficient and equitable housing market—and many other countries are attempting to emulate it. Our system’s efficiency is driven in large part by agents and brokers competing aggressively, while also sharing their listing information with each… The post Op-Ed: Agent Commissions’ Possible New World: A Step Backward for Fair Housing appeared first on RISMedia.

Agents 140
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Housing authorities and lenders added 54 homebuyer assistance programs in Q3: report

Housing Wire

A total of 2,256 homebuyer assistance programs are available in the U.S. housing market after 54 programs were added in the third quarter, according to Down Payment Resource (DPR), a homebuyer assistance program data and solutions firm. Among the available homebuyer assistance programs were 295 that allow borrowers to lower their interest rates by paying an upfront fee, according to DPR’s homeownership program index report.

FHA loan 457
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Realtor.com suffers double-digit drop in quarterly revenue, traffic

Inman

Realtor.com parent company Move Inc.'s revenue declined 16 percent to $142 million in the fiscal first quarter. Despite the loss, CEO Robert Thomson remained bullish about the portal's long-term prospects.

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Post-verdict picture: Denial, anger and rethinking buy-side pay

Real Estate News

During a webinar, T3 Sixty leaders acknowledged that emotions are running high as they talked through potential implications of the Sitzer/Burnett verdict.

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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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‘Blank Check’ to Developers or Chance to Curb Displacement: Locals Comment on City of Yes

Brownstoner

Feedback on the Adams administration’s proposed citywide zoning text amendment for housing, which would increase developers’ ability to build bigger buildings in residential neighborhoods, eliminate parking mandates, and mix manufacturing and residential buildings, amongst a number of other changes, got heated at a public scoping meeting last week. Dozens of… Read More > The post ‘Blank Check’ to Developers or Chance to Curb Displacement: Locals Comment on City of Yes appea

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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% down.

VA loan 458
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Opendoor to double the number of homes it buys each month: CEO

Inman

CEO Carrie Wheeler told Intel that Opendoor wants to purchase 2,000-plus homes per month and that the company is leaning into partnerships like the ones it has with Zillow and eXp.

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Rising Mortgage Rates Push Housing Affordability to Lowest Level in Index History

Eye on Housing

Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 37.4% of new and existing homes sold between the beginning of July and end of September.

Mortgages 127
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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.