Housing Wire

DECEMBER 12, 2023

The lawsuit was filed by Christina Grace, who sold a house listed on Bay Area Real Estate Information Services MLS (BAREIS MLS) in April 2020 and paid a commission to the buyer’s agent. 8, 2019, and the present. The National Association of REALTORS will respond to this complaint in court.”

Realtors 431

Realtors Sellers Buyers Real Estate 431

Housing Wire

MAY 24, 2021

There were 3,541 respondents to the online survey which ran from May 3-10, 2021, of which 1,731 had a client. “With little supply in the market, homes typically sold within 17 days — down from 27 days one year ago, as buyer competition heats up,” NAR said in a statement. 25% of all sales were cash sales, per the report.

Realtors 471

Realtors Buyers Housing Market New Listings 471

Housing Wire

APRIL 22, 2024

He said his company is focused on buyer-side agents, whose activity is expected by some to be impacted by the National Association of Realtors’ (NAR) $418 million nationwide settlement of the commission lawsuits. The change would go into effect in mid-July 2024 if the settlement is approved by a judge.

Brokerage 341

Brokerage Real Estate Realtors Real Estate Agent 341

Housing Wire

MARCH 14, 2024

They noted that in the Houston metro area, between 1997 and 2019, 2.58 of them including an offer to pay 3% of the sales price to the buyer’s agent. Because of this, the authors believe buyer agents are then able to “command commission above cost.” buyer’s agent compensation structure deviates from its cost basis in two ways.

Agents 366

Agents Legal Real Estate Agent Buyers 366

Housing Wire

NOVEMBER 14, 2023

At the center of the plaintiffs’ complaint is the National Association of Realtors’ Clear Cooperation policy, which requires listing brokers to make a blanket offer of compensation to buyers’ brokers in order to list the property on the MLS. “In This would lead to competition among buyer brokers to offer lower commission rates.

Real Estate 403

Real Estate Realtors Realty Buyers 403

Housing Wire

MARCH 5, 2024

Rather, their priorities are buyer education and the nurturing and building of more referral relationships to expand their market share, loan originators who spoke to HousingWire said. Many of his buyers are still waiting for rates to come down before seeking preapproval for a mortgage. Market their listings; go to their listings.

Loan Officers 388

Loan Officers Mortgage Buyers Inventory 388

Housing Wire

DECEMBER 27, 2023

On Friday, it notified clients that it had taken its email system offline and that recipients should be wary of any emails that come through from FirstAm.com. One buyer commented: “We wired in full payment for a home that was supposed to close last week. First American announced the incident mid-day on Thursday.

Sellers 488

Sellers Insurance Valuation Clients 488

Housing Wire

NOVEMBER 1, 2023

Just hours after securing a victory for his home seller clients in the landmark Sitzer/Burnett commission lawsuit, Michael Ketchmark, the lead attorney for the plaintiffs, filed another class action antitrust lawsuit against some of the real estate industry’s biggest players, in U.S. District Court for Western Missouri.

Real Estate 399

Real Estate Brokerage Sellers Law 399

Housing Wire

DECEMBER 6, 2022

Becca Summers does not typically include Wells Fargo on the lender recommendation list she gives to clients. However, when mortgage rates started rising in the spring, Summers encouraged her clients to take advantage of the bank’s mortgage rate lock product. Looking back, Summers is glad she encouraged her buyers to swap lenders.

Real Estate 359

Real Estate Real Estate Agent Clients Agents 359

Housing Wire

DECEMBER 20, 2023

Filed in March 2019 , the Moehrl suit is the oldest of the commission lawsuits currently making their way through various courts across the country. In a statement on Wednesday, NAR spokesperson Mantill Williams said that compensation is “always negotiable” between agents and their clients.

Real Estate 337

Real Estate Sellers Realtors Brokerage 337

Housing Wire

NOVEMBER 7, 2023

Compass agents are more likely to work in upper-echelon markets where buyers and sellers would work with agents, he said. Compass also requires their agents to ensure buy-side clients sign buyer-broker agreements. Revenue decreased by 10% year over year to $1.34 Reffkin cited the Seattle market as reason for optimism.

Agents 342

Agents Real Estate Agent Realtors Brokerage 342

Housing Wire

APRIL 22, 2024

Check out Wise Pelican Typically, you’d mail the just sold letter to homeowners who live around a property you just helped your client to sell. There are still plenty of buyers interested in this area. In fact, we had (number) offers, which means there are still ready, willing, and qualified buyers eager to make an offer!

Real Estate 346

Real Estate Open Houses Brokerage Real Estate Agent 346

Housing Wire

SEPTEMBER 6, 2023

Anywhere Real Estate ’s settlement agreement in two class action antitrust lawsuits dealing with buyer broker compensation raises important questions about the future of buyer’s agency and how other defendants are viewing the fast approaching trials. million in damages for both the Moehrl and Sitzer/Burnett suits.

Agents 412

Agents Buyers Realtors Sellers 412

Housing Wire

NOVEMBER 13, 2023

The writer in the Economist says, “…either the fat fee [real estate commission] inflates the house price, or the buyer ends up paying a similar fee when he or she sells.” This is from the Editorial Board of The Wall Street Journal, “Ninety percent of transactions offer buyer agent commissions of exactly 3%.”

Real Estate 344

Real Estate Realtors Agents Buyers 344

Housing Wire

AUGUST 3, 2023

The 8th Circuit Court of Appeals’ three-judge panel concurred with a lower district court’s decision that HomeServices is not permitted to enforce arbitration agreements signed by seller clients of franchisees under its authority. billion in commissions they paid to buyers’ agents in the past eight years.

Realtors 323

Realtors Real Estate Sellers Buyers 323

Housing Wire

MAY 31, 2023

In the fourth quarter of 2019, the median renter could afford 69% of the homes for sale in Salt Lake City. According to data from Altos Research , the median home price listed in Salt Lake City last week climbed to $785,000, up from about $540,000 in the fourth quarter of 2019. Now, the median renter can only afford 4% of homes.”

Insurance 327

Insurance Clients Marketing Housing Market 327

Housing Wire

SEPTEMBER 11, 2020

According to the report, 31% of Realtors said they feel unsafe during an open house or showings, and 27% said they feel unsafe when meeting a new client for the first time at a scheduled location or property. The man allegedly told the agent and potential buyer to get off the property. Those fears are not unfounded.

Open Houses 545

Open Houses Realtors Real Estate Agent Agents 545

Housing Wire

FEBRUARY 9, 2023

Launched in 2019, LauraMac provides its technology services for companies acquiring assets in the secondary market, including document management, loan acquisition and loan reviews. Its Loan Acquisition System (LAS) provides an end-to-end solution for buyers and sellers of loans.

Technology 266

Technology Tools Buyers Sellers 266

Housing Wire

DECEMBER 27, 2022

.” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom.

Housing Market 500

Housing Market Marketing Real Estate Agent Real Estate 500

Housing Wire

AUGUST 18, 2023

based firms on percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. The minimum revenues required are $100,000 for 2019 and $2 million for 2022. The self-reported list ranks U.S. They must be U.S.-based, Rank Company Growth (3-yr Avg.)

Brokerage 368

Brokerage Real Estate Realty Real Estate Agent 368

Housing Wire

JULY 3, 2023

The target client base for PrimeLending is first-time homebuyers, as the entire industry is struggling to overcome the lock-in effect. A combination of higher loan amounts, cash buyers and a radical drop of refi volume add to the difficulty of today’s environment. billion, a 54% decline from $3.76 Production dropped about 15.2%

Loan Officers 344

Loan Officers Marketing Retail Renovations 344

Housing Wire

OCTOBER 17, 2023

The highly anticipated trial of the Sitzer/Burnett buyer broker compensation class action lawsuit kicked off in earnest on Tuesday morning, with opening arguments taking place in the Kansas City courtroom belonging to U.S. The court noted that it expects a verdict in the suit, which was originally filed in April 2019, by mid- November.

Sellers 392

Sellers Agents Buyers Realtors 392

Housing Wire

JANUARY 25, 2023

It generally takes about 20 to 45 days for a buyer to receive a mortgage commitment letter depending on all the conditions being met. Better.com claims to have processed more than $50 million in One Day Mortgage commitments with clients receiving a commitment letter in an average of 12 hours. billion in the span of two years.

Mortgage 367

Mortgage Clients Finance Buyers 367

Housing Wire

APRIL 1, 2024

DBRS Morningstar’s rating of the $224 million securitization opened up new types of bond buyers that have inherently lower costs of capital, Saluda Grade CEO Ryan Craft said. Redwood, for instance, has been buying HEIs from third-party originators since 2019 and has been providing liquidity to portions of the nonagency mortgage market.

Finance 383

Finance Investing Real Estate Agent Real Estate 383

Housing Wire

MARCH 1, 2023

The goal of the expansion is to provide homeowners and buyers, along with real estate, legal, and tax professionals, the option to order an appraisal directly through Opteon’s services, according to a statement from the company. managing director of Opteon, said in the statement.

Appraisal 330

Appraisal Valuation Technology Real Estate 330

Housing Wire

NOVEMBER 3, 2023

With the scrutiny of The Department of Justice and the Federal Trade Commission and multiple lawsuits concerning how buyers’ brokers get paid, many brokers say it feels like an all-out war on the real estate industry. billion in commissions they paid to buyers’ agents in the past eight years.

Real Estate 299

Real Estate Brokerage Buyers Property Management 299

Housing Wire

NOVEMBER 17, 2023

As expected, the plaintiffs are in opposition to HomeServices’ motion, stating that HomeServices’ claim that the “Plaintiffs have no evidence of conspiracy as to any HSD to create, implement, or enforce the [Buyer-Broker Commission] Rule” is untrue.

Training 357

Training Realtors Agents Real Estate 357

Housing Wire

DECEMBER 21, 2023

The great news is that the program has undergone significant improvements, particularly after the Blue Water Navy Vietnam Veterans Act was signed into law in 2019. To be fair, negative perceptions of the VA loan are often rooted in negative experiences in the past. A lot has changed and it’s time to remove the stigma.

Mortgage 429

Mortgage Renovations Appraisal Process Finance 429

Housing Wire

DECEMBER 6, 2023

“In a raw demonstration of market power, the Florida Realtor MLSs overturn the natural order of a rational price system where home sellers and home buyers each separately bargain and pay for the services provided to each of them,” the complaint alleges. 4, 2019 and the present.

Realty 418

Realty Realtors Brokerage Real Estate 418

McKissock

APRIL 28, 2021

It makes sense, but it can make the real estate process even tougher for buyers. Here’s how to handle emotional buyers like the pro that you are. As of 2020, a whopping 88% of home buyers relied on the help of a real estate agent to get them through the process. Know Their Problems — and Solve Them.

Real Estate Agent 87

Real Estate Agent Real Estate Buyers Agents 87

Housing Wire

OCTOBER 17, 2023

As the trial for Sitzer/Burnett, the first of the two bombshell class action buyer broker compensation anti-trust lawsuits, kicks off this week , the real estate industry’s multiple listing services are busy preparing for any and all outcomes. “I I don’t think it has even been questioned quite as much as it is being right now.”

Real Estate 353

Real Estate Realtors Agents Clients 353

Housing Wire

AUGUST 27, 2020

year over year, largely on the back of pent-up demand from buyers who were unable to strike deals during the spring, said Lawrence Yun, chief economist of the National Association of Realtors. “We gain compared with 2019. pending home sales rose 5.9% The seasonally-adjusted index measuring signed contracts was up 15.5% million, a 1.1%

Contracts 477

Contracts Realtors New Listings Real Estate 477

Housing Wire

OCTOBER 18, 2023

The second day of the trial for the Sitzer/Burnett bombshell class action buyer broker commission class action lawsuit included plenty of insights into how the plaintiffs are approaching what is expected to be a battle royal. When you reduce the commission, you reduce the incentive for that agent to bring a buyer to your house.

Agents 414

Agents Training Real Estate Real Estate Agent 414

Housing Wire

FEBRUARY 18, 2021

Learn how brokers and agents are growing listing visibility among rental properties, attracting more clients in the new year. “Based on data collected in May 2020, buyers saved listings with 3D Home tours 32% more often than listings without.” How to gain more listing visibility in a shifting housing market.

Agents 352

Agents Tools Housing Market Buyers 352

Housing Wire

FEBRUARY 10, 2023

Buyers seem like they can’t get a break,” Kechian said. “I I really think they had about three months last year where it was a buyers market in the fourth quarter. But of course, we have a lot of clients that move out of condos once they have kids and get married. They move to the suburbs and they take us with them.

Marketing 357

Marketing Inventory Loan Officers Buyers 357

Lamacchia Realty

MAY 7, 2024

Her reason for becoming a real estate agent is to continue her desire to work with people and have clients be as happy with their lifestyle as she is providing it to them. Her desire to help her clients earned Shauna the title of Rising Star in the September 2021 issue of the South Shore Real Producers Magazine !

Realtors 72

Realtors Realty Real Estate Clients 72

Housing Wire

OCTOBER 6, 2023

After roughly a month of speculation, Anywhere Real Estate and RE/MAX made the terms of their proposed settlement agreements in the Moehrl and Sitzer/Burnett buyer broker compensation class action suits public on Friday. Filed in 2019, both lawsuits take aim at NAR’s Participation Rule. In addition to the already publicized $83.5

Agents 365

Agents Brokerage Realtors Real Estate 365