Housing Wire

FEBRUARY 21, 2024

“This collaboration reflects our dedication to equipping NAR members with innovative solutions that cater to the evolving needs of their clients, ensuring a smooth experience for sellers and buyers alike,” said Rhonny Barragan, NAR vice president of strategic alliances in an announcement of the deal.

Home Improvement 366

Home Improvement Realtors Real Estate Agent Inspection 366

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. 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.

Realtors 420

Realtors Sellers Buyers Real Estate 420

Housing Wire

DECEMBER 27, 2023

The systems outage has derailed closings across the country over the holidays for homebuyers and sellers using the company’s title services in more than 2,000 locations. 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.

Sellers 488

Sellers Insurance Valuation Clients 488

Housing Wire

MARCH 22, 2024

According to data from Altos Research as of March 15, the 90-day average number of single-family active listings in the Naples-Marco Island metro area was 2,362, up from 1,605 one year earlier but down from the 3,760 listings recorded in late March 2019 prior to the COVID-19 pandemic. In comparison, the average U.S.

Insurance 358

Insurance Inventory Marketing Real Estate 358

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 387

Real Estate Brokerage Sellers Law 387

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 348

Agents Legal Real Estate Agent Buyers 348

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 401

Real Estate Realtors Realty Buyers 401

Housing Wire

FEBRUARY 5, 2024

Last year was largely a good one for the nation’s homebuilders, which were able to offer rate buydowns to attract more clients while maintaining double-digit profit margins. Additionally, the competition from existing home sellers was somewhat absent. An estimated 668,000 new homes were sold in 2023, 4.2%

Construction 375

Construction Housing Market Buyers Sellers 375

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 320

Real Estate Sellers Realtors Brokerage 320

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. District Court Judge Stephen Bough.

Sellers 381

Sellers Agents Buyers Realtors 381

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. We negotiated to get the sellers the highest price possible. There are still plenty of buyers interested in this area. Many of us are in sellers’ markets with very low inventory.

Real Estate 329

Real Estate Open Houses Brokerage Real Estate Agent 329

Housing Wire

DECEMBER 6, 2023

More home sellers on the East Coast are getting in on the commission lawsuit action. Similar to the other commission lawsuits, the latest two take aim at the National Association of Realtors’ Participation Rule, which requires the listing broker to make a blanket offer of compensation to the buyer’s broker to list the property on the MLS.

Realty 410

Realty Realtors Brokerage Real Estate 410

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.

Buyers 407

Buyers Agents Realtors Sellers 407

Housing Wire

MAY 3, 2024

We’ve been a sellers’ market here for at least the past eight years, but probably closer to 10 or 11.“ While this is up from a record low of 7,336 listings set in late April 2022, it is still well below the 29,951 listings in early May 2019, about a year prior to the onset of the COVID-19 pandemic. of moves being inbound versus 39.9%

Inventory 287

Inventory Housing Market Marketing Real Estate 287

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

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 305

Realtors Real Estate Buyers Sellers 305

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 324

Agents Real Estate Agent Realtors Brokerage 324

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 337

Real Estate Realtors Agents Buyers 337

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 363

Brokerage Real Estate Realty Real Estate Agent 363

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 251

Technology Tools Buyers Sellers 251

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 404

Agents Training Real Estate Real Estate Agent 404

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 309

Insurance Clients Marketing Housing Market 309

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 485

Housing Market Marketing Real Estate Agent Real Estate 485

Cornerstone

OCTOBER 26, 2021

As CoreLogic’s Chief Appraiser Shawn Telford explains : “Recently, we observed buyers paying prices above listing price and higher than the market data available to appraisers can support. In layman’s terms: While buyers may want to pay extra for a home, appraisers must assess its fair market value. Get your questions answered now.

Sellers 57

Sellers Buyers Appraisal Loan Officers 57

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 287

Real Estate Brokerage Buyers Property Management 287

Housing Wire

APRIL 16, 2024

As the engines of the housing and mortgage markets continue to sputter due to higher interest rates and fewer buyers, industry innovators are looking for ways to get their company’s wheels off the ground. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%.

Real Estate Agent 396

Real Estate Agent Loan Officers Real Estate Agents 396

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 Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”. million, a 1.1%

Contracts 477

Contracts Realtors New Listings Real Estate 477

Housing Wire

AUGUST 21, 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. Homelight , a platform for homebuyers and sellers, was No. The self-reported list ranks U.S.

Real Estate 345

Real Estate Real Estate Agent Technology Investors 345

Housing Wire

AUGUST 5, 2020

The National Association of Realtors found in its Profile of Home Buyers and Sellers in 2019 that 26% of all homebuyers said the quality of schools was important when finding a new home. Living in a good school district is one of the biggest factors for homebuyers, even if they’re empty nesters. Like, zero.

Realtors 510

Realtors Realty Buyers Sellers 510

Housing Wire

JANUARY 13, 2022

The lawsuit, in part, challenges a rule first put forth by the National Association of Real Estate Exchanges, NAR’s forerunner, in 1913, that a member agent representing a home seller , “Always be ready and willing to divide the regular commission equally with any member of the Association who can produce a buyer for any client.”.

Brokerage 311

Brokerage Real Estate Agents Real Estate Agent 311

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 365

Finance Investing Real Estate Agent Real Estate 365

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 334

Agents Tools Housing Market Buyers 334

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. Literally, we’re right back to being a seller’s market again.” We’ve been advising them how to use it with the sellers.

Marketing 345

Marketing Inventory Loan Officers Buyers 345

Housing Wire

AUGUST 28, 2020

So the products I’ve put into this category are really focused on either helping agents win listings or helping them convert lookers into buyers. The first is listing tools – the products designed for you to convert potential sellers into listing contracts. Seller tools / Buyer conversion tools.

Tools 237

Tools Sellers Real Estate Contracts 237

Housing Wire

SEPTEMBER 30, 2021

RON capabilities will be available through the company’s Direct and Agency division operations, making it possible for homebuyers, sellers and borrowers to close their home purchase or refinance transactions remotely. Since 2019, the company said its volume of real estate transactions has grow over 800%.

Insurance 258

Insurance Real Estate Sellers Agents 258

Listing Spark

JUNE 21, 2022

over the last year (The first time we have seen active listing growth since June of 2019). The good news for sellers is that the Texas median list price is up over 18% YOY. These foreclosures will add inventory and options to the market for potential buyers. Active, pending and sold data: Active listings have increased by 8.0%

Sellers 69

Sellers Housing Market Marketing Inventory 69

McKissock

OCTOBER 26, 2020

That is if you’re representing the buyer, what should you look for in terms of that extra workspace? If you’re representing the seller, how can you best exploit that feature of a home, or advise people on how to create areas for work or study if they’re lacking? Sellers need to price their property to attract a broad pool of buyers.

Buyers 61

Buyers Sellers Agents Real Estate Agent 61