Housing Wire

FEBRUARY 27, 2024

At the 2024 Keller Williams Family Reunion event in Las Vegas, co-founder and executive chairman Gary Keller took the stage on Tuesday and spoke to a room full of real estate agents about the importance of buyer agency agreements within the context of the ongoing antitrust lawsuits. You are being accused of not being transparent. “If

Buyers 407

Buyers Agents Real Estate Agent Clients 407

Real Estate News

MARCH 27, 2024

Brokerages and agents need to communicate exactly how they serve buyers, just as they do for sellers — and what value those services bring to clients.

Buyers 228

Buyers Agents Brokerage Sellers 228

Sacramento Appraisal Blog

JULY 18, 2022

Buyers are gaining power. And sellers are losing it. UPCOMING (PUBLIC) SPEAKING GIGS: 7/20/2022 Beer & Stats at Out of Bounds (sign up (for real estate agents)) 7/26/2022 Navigating […]. I have some new visuals to show what the market is doing right now. These are for Sacramento, but I suspect many areas look similar.

Sellers 469

Sellers Buyers Real Estate Agent Real Estate 469

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

Real Estate Agent 423

Real Estate Agent Real Estate Buyers Agents 423

Housing Wire

MARCH 20, 2024

Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. This misconception obscures the reality that, historically, buyers lacked formal representation.

Real Estate 471

Real Estate Buyers Agents Sellers 471

Housing Wire

APRIL 1, 2024

The recent settlement involving the National Association of Realtors and major real estate firms revolves around the practice of “broker cooperation,” where agents representing sellers share commissions with agents representing buyers. The DOJ believes that by eliminating it, affordability will improve for all.

Sellers 457

Sellers Real Estate Agents Buyers 457

Housing Wire

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. Buyers are picky and they don’t want to pay a dollar more than they need to,” the report said. According to the brokerage, 6.5% the month prior.

Sellers 500

Sellers Buyers Inventory Real Estate Agent 500

Housing Wire

MARCH 22, 2024

Based on NAR’s settlement, agents working with buyers will need a signed buyer representation agreement starting in mid-July, pending final court approval of the settlement. Bills Clarke said this is exactly how agents already work with sellers, so it shouldn’t be a big deal to implement buyer agreements into a business.

Buyers 468

Buyers Contracts Real Estate Agents 468

Housing Wire

APRIL 11, 2024

As the real estate industry undergoes a significant shift in its commission structure, a recent Redfin survey reveals a lack of knowledge among homebuyers regarding their agents’ compensation. According to the findings, a significant portion of recent homebuyers remain in the dark about crucial aspects of agent payments.

Agents 413

Agents Real Estate Sellers Buyers 413

Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

Buyers 367

Buyers Contracts Agents Realtors 367

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. The lender and LO can make or break the transaction.”

Buyers 386

Buyers Agents Loan Officers Real Estate 386

Real Estate News

APRIL 3, 2024

NAR’s annual generational trends report examines buyer and seller characteristics and dives into their needs — and how they compensate agents.

Buyers 247

Buyers Agents Sellers 247

Housing Wire

MARCH 25, 2024

During a virtual open house hosted by Keller Williams to answer agent and broker questions about the settlements in the commission lawsuits , the overwhelming message was for real estate professionals to focus on what they can control. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

Agents 402

Agents Advertising Real Estate Buyers 402

Housing Wire

MARCH 22, 2024

With low housing inventory nationwide, agents are using innovative ways to find real estate seller leads and convert them into listings. To help you snag more listings, we updated our list of proven strategies to win more real estate seller leads in 2024. If you want a shot at generating seller leads online, you need one, too.

Real Estate 386

Real Estate Sellers Real Estate Agent Tools 386

Housing Wire

JANUARY 2, 2024

Filed last Wednesday in the Western District of Missouri, the Umpa suit, named after its lead and only plaintiff Daniel Umpa, accuses the real estate industry of allegedly colluding to artificially inflate real estate agent commissions. Because this blanket offer must be made available to every buyer-broker using the MLS (i.e.,

Sellers 394

Sellers Brokerage Real Estate Realtors 394

Housing Wire

OCTOBER 24, 2023

Agent-client collaboration platform RealScout announced the launch of RealScout Pro+ on Tuesday, the first significant update to the platform since it was founded in 2012. “It Our customers for many years have said, ‘I also work with sellers, can we nurture them as well?’”

Sellers 320

Sellers Home Value Client Relationships Agents 320

Real Estate News

JULY 28, 2023

The system of sellers funding commissions, which are then shared between seller and buyer agents, goes back more than 100 years. Is it time for a change?

Sellers 207

Sellers Buyers Agents 207

Housing Wire

MARCH 14, 2024

Like the Department of Justice , the Federal Reserve has decided to weigh in on the real estate agent commission debate. Similar to the arguments made by the plaintiffs and their attorneys in the commission lawsuits, the authors of the paper argue that despite technological advances, agents still take a “high percentage commission.”

Agents 378

Agents Legal Real Estate Agent Buyers 378

Housing Wire

SEPTEMBER 5, 2023

From fine-tuning the initial listing to completing the mountains of paperwork needed for closing , homebuyers and sellers can find themselves juggling a wide range of issues. Find your audience Not every real estate transaction is the same because not all buyers and sellers are the same. They cross-promote the event.

Real Estate 412

Real Estate Sellers Buyers Clients 412

Housing Wire

JANUARY 12, 2024

Guaranteed Rate has introduced a new feature that allows sellers working with a G-Rate loan officer to pay a fee that locks in a permanently discounted mortgage rate for a buyer. But with RateReduce Sell, sellers will be able secure a lower rate by buying down points permanently.

Sellers 413

Sellers Real Estate Agent Loan Officers Mortgage 413

Housing Wire

MARCH 21, 2024

Redfin is expanding an agent compensation plan it launched last year by adding seven new markets starting in May, the national real estate brokerage announced Thursday. No other brokerage can offer agents a big traditional split and all the benefits, support, technology and customer introductions that we provide here at Redfin.

Agents 385

Agents Marketing Brokerage Real Estate 385

Housing Wire

MAY 3, 2024

“While there are a lot of factors currently affecting the real estate market, one thing remains constant: RE/MAX agents leverage their skills, experience and competitive advantages to serve as many customers as they can,” said Erik Carlson , who was appointed as the firm’s CEO in November. He noted that the average RE/MAX agent closed 11.8

Agents 348

Agents Real Estate Training Buyers 348

Housing Wire

NOVEMBER 7, 2023

In both instances, FHA and VA borrowers might see their up-front home-buying expenses increase if they have to shoulder agent’s commissions. Mortgage professionals voiced their concerns of the potential ripple effects that might have on those cash-strapped buyers, depending on the results of the commission lawsuits. “It Grant said.

Agents 446

Agents Sellers Buyers Finance 446

Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. Concerns over the existing VA policies have been echoed among mortgage professionals.

Buyers 441

Buyers Real Estate Agent Inventory Real Estate 441

Housing Wire

MARCH 27, 2024

These are all untrue and offensive words that come up when searching “Realtors” or “Real estate agents.” But even with all the negative nouns used to describe some real estate agents, the majority of real estate agents are professional and valuable. And before getting my real estate license in 2009, I had the same opinion, too.

Real Estate Agent 290

Real Estate Agent Real Estate Agents Sellers 290

Housing Wire

JANUARY 24, 2024

What constitutes a “lowball” offer, when is it appropriate or not appropriate and how can you encourage your buyer clients to stop insisting on offering a price that’s unlikely to result in an offer? So do buyer’s credit scores , ratios and down payment funds. Has the seller recently corrected negative feedback?

Buyers 426

Buyers Sellers Agents Counter Offer 426

Housing Wire

OCTOBER 6, 2023

million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public, and they stipulate that the brokerage conglomerate make significant changes to its practices. The terms of Anywhere Real Estate ‘s $83.5

Buyers 424

Buyers Brokerage Agents Sellers 424

Housing Wire

JULY 17, 2023

With real estate inventory at a near-record low, buyers seeking a place to call home are facing stiff competition as bidding wars continue to be commonplace. It is critical that title professionals and our industry partners spread awareness about this type of fraud and educate buyers about the steps they should take to protect themselves.

Sellers 370

Sellers Real Estate Agent Real Estate Insurance 370

Housing Wire

MAY 16, 2024

The MLS is crucial for home sellers , even in a strong seller’s market, as it provides significant financial benefits and access to more potential buyers, according to a recent study by Bright MLS called “On-MLS Study: Measuring the Benefits of an Open and Transparent Housing Marketplace.” They would be wrong.

Sellers 280

Sellers Real Estate Buyers Marketing 280

Housing Wire

FEBRUARY 28, 2024

Independent brokerage Howard Hanna Real Estate Services has partnered with Zillow ’s ShowingTime+ to allow agents in the Cleveland and Pittsburgh areas to leverage the Listing Showcase tool. Listing Showcase also allows agents to customize their listings to their liking to help attract more interest from buyers.

Tools 360

Tools Agents Real Estate Brokerage 360

Housing Wire

SEPTEMBER 18, 2023

According to court documents filed on Monday, RE/MAX and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits. In fact, the U.S.

Buyers 483

Buyers Realtors Agents Real Estate 483

Housing Wire

NOVEMBER 13, 2023

Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. The report is an annual survey of homebuyers and sellers who closed transactions between July 2022 and June 2023.

Real Estate Agent 373

Real Estate Agent Real Estate Agents Sellers 373

Housing Wire

MAY 14, 2024

Last month, Clever surveyed a total of 920 Americans about their views of the home purchase process and real estate agents. We found that buyers stepping into the 2024 housing market have much to learn from previous shoppers,” the report stated. “We More than 80% of recent buyers asked for at least one seller concession.

Real Estate Agent 456

Real Estate Agent Agents Real Estate Buyers 456

Housing Wire

APRIL 3, 2023

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. If they work with a Rocket Homes partner agent, they’d receive nearly $5,000 toward their closing costs. (To

Agents 390

Agents Buyers Real Estate Agent Mortgage 390

Housing Wire

OCTOBER 5, 2021

Direct Access allows homebuyers to self-tour vacant properties without an agent by using the Redfin app to unlock the home. Homeowners are able to track tours and buyer feedback on their home through the Redfin Owner Dashboard. The post Redfin allows buyers to tour homes without an agent appeared first on HousingWire.

Buyers 389

Buyers Agents Real Estate Technology 389

Housing Wire

SEPTEMBER 13, 2023

1 listing platform , Realtor.com has launched a sell-side agent tool kit. Listing Toolkit is a subscription-based service that is now available to agents nationwide. Listing Toolkit is a purpose-built solution that empowers agents to win more listings and sell more listings,” Elmquist said.

Agents 357

Agents Tools Sellers Buyers 357

Housing Wire

OCTOBER 11, 2023

These lawsuits threaten to radically reshape the residential brokerage landscape, and could be the catalyst for a fat decline in the annual commission pool as well as the industry shedding as many as 80% of agents, according to a team of analysts at Keefe Bruyette Woods. Relatedly, the commission rates could decline by 200 bps or more.

Real Estate Agent 469

Real Estate Agent Real Estate Agents Brokerage 469