Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. Consequently, mortgage industry executives believe buyers will pay agents out of pocket or ask sellers to pay their agent fees through concessions.

Industrial

Housing Wire

JANUARY 17, 2024

Recently, Interested Party Contributions (or seller concessions) have been allowed with HECM for Purchase loans. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception. In fact, a veritable upheaval is headed for the housing market already.

Finance

Housing Wire

MARCH 27, 2023

Phoenix is also among the markets with the biggest upticks in seller concessions — another indicator of dampening demand. Phoenix was another magnet for remote tech workers during the pandemic — and the housing market in this city has experienced a similar fate.

Industrial

Housing Wire

AUGUST 27, 2024

We appreciate your understanding as we navigate the current challenges in our industry.” ” In late July, the California Regional MLS (CRMLS) announced that it would be removing the seller concessions-in-price data field from its platform. . “As an MLS, it is our duty to protect you and your data.

MLS

RIS Media

JANUARY 4, 2024

Seller credits, or concessions, are essential for buyers and sellers to understand. We will… The post What Are Seller Concessions in Real Estate? They are financial incentives homesellers offer buyers as part of the closing process. appeared first on RISMedia.

Seller concession

Housing Wire

JULY 18, 2024

These criteria will assist regulators, consumer groups, and the industry itself to assess the fairness of new buyer agreements,” Brobeck said in a statement. The CFA said the proposed criteria was created after the group received requests from several unnamed real estate companies.

Seller concession

Housing Wire

MARCH 25, 2024

While this may be similar to how agents in some MLSs note that sellers are willing to provide concessions, Papasan made it clear that seller concessions and commissions are not the same thing. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

Purchase and sale agreement

Housing Wire

MARCH 13, 2024

Moreover, the concept remains a central theme of some arguments contained in the plethora of lawsuits that are now carpet bombing the real estate industry. There are many: Zillow , Realtor.com (which has not been owned by anyone in the industry for years), Homes.com — just to name a few.

Seller concession

Housing Wire

NOVEMBER 7, 2023

The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

VA loan

RIS Media

JULY 30, 2024

This allowed listing agents to input and advertise the concessions, and contributions to the buyer’s cost burden, that their seller is willing to make. There were three value fields: a simple “yes or no” indicating if… The post California Regional MLS Walks Back Seller Concessions Field appeared first on RISMedia.

Seller concession

Housing Wire

NOVEMBER 20, 2023

An originator can usually get a buyer into that home for less than $20,000 through a mixture of seller concessions and strategic financing. What concerns me here is the potential for infighting in the industry over price competition. I want to be clear: in no way do I hope any of this happens.

Pre-approval

RIS Media

MARCH 1, 2024

A new Bright MLS survey of 450-plus agents indicated that seller concessions have increased in the Mid-Atlantic housing market. Those interviewed consisted of agents who have worked with sellers in the past six months across the Bright footprint.

Seller concession

Housing Wire

OCTOBER 21, 2022

Based on decreases in borrowers’ mortgage inquiries, early payoff (EPO) of mortgages and new home listings in the third quarter, Sales Boomerang ‘s latest mortgage opportunities report outlined potential dealmaking strategies for lenders in challenging times for the mortgage industry.

Seller concession

Housing Wire

AUGUST 14, 2024

While Saphire can’t completely step away from discussions of buyer broker commissions, especially since he operates in MLS PIN, which did not opt into NAR’s settlement and is still allowing offers of cooperative compensation on its site, he is doing his best to make sure his sellers are fully in the driver’s seat when it comes to commissions.

Agents

Broke Agent Media

MARCH 16, 2023

BAM Key Details: A new Redfin report shows over 45% of sellers giving concessions to incentivize buyers, with a record 13% of sales involving both price cuts and concessions. Pandemic boomtowns, led by Seattle, have seen the biggest increases in seller concessions, which are most common in Las Vegas at 51.6%

Seller concession

Inman

JULY 18, 2024

The attorney and broker dives into the nuances of seller concessions, steering, buyer agents' jobs, and avoiding future antitrust trouble ahead of his appearances at Inman Connect Las Vegas.

Seller concession

Housing Wire

MARCH 6, 2024

Industry remains optimistic Every tracked geographic region recorded lower volume in February, but the largest — Pacific/Hawaii — recorded the least severe drop of 6.2%, according to RMI. It’s great to see the largest region drop less than most others, as that has a disproportionate impact on the overall industry,” Lunde told RMD.

Mortgages

Housing Wire

APRIL 8, 2024

After a few months of downward data in its performance metrics, the reverse mortgage industry saw a slightly different story play out in March that should come as welcome news. But case numbers are a strong indicator of future industry performance, and new case number data for February performed strongly, RMI said.

Mortgages

Housing Wire

FEBRUARY 2, 2024

There’s always been a seasonality to the industry where the holidays are significantly slower than immediately before and after.” We expect to see similar industry volume for 2024.” When asked what industry professionals should most keep in mind heading further into 2024, McCully was concise. billion. “The

Mortgages

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. In a high-rate environment, lenders call the temporary rate buydown a win-win strategy for both sellers and buyers when used appropriately.

Mortgages

Housing Wire

JULY 4, 2024

As industry professionals, we have a responsibility to foster belief in the possibility of homeownership. Consumer sentiment and market perception Consumer confidence is currently low due to the high cost of living and perceived barriers to homeownership. However, this doesn’t mean the dream is out of reach.

Pre-qualification

Housing Wire

AUGUST 30, 2024

Laura O’Connor: In marketing for any services industry, it is common to show that a provider has a lot of customers served. We’ve worked with our affiliated owners across the nation to provide templates, guides, resources, scripts and guidance from industry experts within and outside our organization to make sure they are prepared.

Branding

Housing Wire

SEPTEMBER 18, 2024

REsides, an independently owned MLS based in South Carolina, has a similar comment box that can be used for seller concessions. The DOJ isn’t the only remaining legal threat to the real estate industry. billion judgment. Given the success of previous suits, there will almost certainly be more to add to the dozens already filed.

MLS

Housing Wire

AUGUST 19, 2024

17, 2024 , has come and gone, and the real estate industry is still plugging along, despite the business practice changes mandated by the National Association of Realtors’ (NAR) commission lawsuit settlement agreement now being implemented nationwide. The landmark date of Aug. It doesn’t matter,” O’Koniewski said. “If

Purchase and sale agreement

RIS Media

MAY 30, 2024

Similar to CRMLS’ newly announced system field changes referring to Concessions in Price, Bright has announced that they will be including seller concessions in… The post Bright MLS Unveils System Changes for the Post-NAR Settlement Industry appeared first on RISMedia.

MLS

Real Trends

APRIL 11, 2023

To think outside the box, some Realtors began using seller concessions. Whereas seller concessions make the home-buying process more affordable and exciting for potential buyers, while also maintaining the home and the community’s value. In some areas of the U.S., So, what do you do?

Seller concession

Housing Wire

OCTOBER 27, 2022

When borrowers show hesitancy due to high mortgage rates, loan officers work with options such as temporary rate buydowns, which allow homebuyers to receive lower mortgage rates at the start of their loan terms by using seller concessions as part of the payment.

Mortgages

Housing Wire

JANUARY 13, 2023

Going from a volatile rate environment in the latter half of 2022 to a market with lower, more stabilized rates, there’s optimism spreading across the industry that buyers will come back. Connie Kim: There seems to be optimism in the mortgage industry at the start of the new year. How have the first two weeks of January been?

Pre-approval

Inman

APRIL 17, 2024

Fannie, Freddie and FHA say sellers can continue to pay the buyer's agent's commission. But it remains to be seen if buyers will be allowed to finance their agent's commission into their mortgage.

Industrial

Broke Agent Media

MAY 31, 2023

of home sales during the three months ending April 30 involved seller concessions—just under February’s record high of 45.6% While sellers in some parts of the U.S. are offering freebies to attract buyers, thanks to the dampening effect of high mortgage rates, sellers in markets with severe housing shortages don’t need to.

Seller concession

RIS Media

FEBRUARY 29, 2024

In real estate transactions, buyers and sellers often negotiate various aspects of the deal. One element that frequently arises during these negotiations is referred to as seller concessions or repair credits. Negotiations can include the purchase price, closing costs and contingencies.

Seller concession

Broke Agent Media

MARCH 18, 2023

That’s why BAM started the Hot Sheet —to break down the last 24 hours’ worth of news in the industry every morning the markets are open. Banking Crisis Alright, we know you didn’t miss this—it’s safe to say that in every industry, all eyes have been on what’s happening with banks right now.

Seller concession

HomeLight

DECEMBER 2, 2021

We detail what costs you’re likely to incur and what sellers pay on average. Kentucky-based Dianna Caldwell , a seasoned agent with 16 years of industry experience under her belt, gave us a rundown of seller costs and what homeowners should budget before they sit down to the closing table. Cost to seller. < 1%.

Seller concession

Broke Agent Media

MARCH 28, 2023

The dichotomy of the current market has some areas seeing multiple offers flood in while others are experiencing a slower pace and a rise in seller concessions. The tech industry is experiencing a high rate of layoffs. It’s important to note that even though these markets have cooled the fastest, they remain sellers’ markets.

Seller concession

HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. So if your home sells for $450,000, you could spend anywhere between $27,000 to $45,000 in seller fees. Selling a home doesn’t come cheap. Source: (Kim Gorga / Unsplash).

Closing costs

Easy Agent Pro

SEPTEMBER 5, 2023

By considering creative incentives such as seller concessions or a flexible closing timeline, you can make your offer more appealing and increase your chances of securing the property. By offering to cover these costs, you reduce the financial burden on the seller and make your offer more enticing.

Earnest money deposit

BAM Media

OCTOBER 21, 2024

The listing agreement conversation should include local requirements related to MLS listings as well as seller concessions. Compensation Offers To make this clear to sellers, NAR’s consumer guide reminds them they have no obligation to make an offer of compensation for the buyer agent.

Seller concession