Housing Wire

JANUARY 23, 2024

home sales in nearly 30 years as high mortgage rates frustrate buyers, the market is reshaping real estate once again, placing buyers on the back foot and swinging the pendulum back to favoring sellers. Well into January, we are already seeing properties go under contract in the first weekend with multiple offers.

Real Estate Agent 423

Real Estate Agent Real Estate Buyers Agents 423

Housing Wire

FEBRUARY 14, 2024

I’ll show you what it takes to succeed as a luxury real estate agent in any market. How do you convince the sellers of $15 million homes to work with you? Visit Coffee & Contracts 2. Visit Agent Image 3. Don’t try to do everything or be everything to everyone!

Real Estate Agent 391

Real Estate Agent Real Estate Agents Luxury Properties 391

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 16, 2024

We’ve curated the ultimate guide to texting etiquette for agents. with real estate night sweats and want to alleviate your stress by banging out a text does not mean the other agent, your buyer prospect, your seller client, or the appraiser wants to share your insomnia. Wondering if you may have offended a prospect?

Real Estate Agent 370

Real Estate Agent Real Estate Agents Business 370

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

Empire Appraisal Group

FEBRUARY 29, 2024

Lusky, DigitalVision, Getty Images Source: [link] FSBO Sellers Regret Not Having an Agent By Melissa Dittmann Tracey Survey: Sellers who go-it alone are twice as likely to be unsatisfied with the experience – and more likely to say their earlier opinion, “agents are overpaid,” was wrong.

Sellers 78

Sellers Agents Real Estate Agent Real Estate 78

Housing Wire

JANUARY 3, 2024

Real estate agents are optimistic about the housing market and working to implement buyer agency agreement as we head into 2024, according to the RealTrends Q1 2024 AgentPulse survey. Some agents reported not having made any changes to their business due to the lawsuits, while others have.

Agents 357

Agents Realtors Clients Real Estate Agent 357

Housing Wire

APRIL 4, 2024

She is also filing the suit as both a home seller and a homebuyer. Jutla notes that while Redfin no longer requires its agents to be members of NAR or local Realtor associations, all of the agents she worked with during her transactions were NAR members. She used Redfin agents for both listing and buying purposes.

Realtors 346

Realtors Agents Sellers Real Estate 346

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

Housing Wire

MARCH 13, 2024

The DOJ argued that changes similar to those proposed in the settlement agreement — including the lowering of the required compensation amount to $0 or abandoning the requirement for listing brokers to make a blanket offer of compensation to the buyer’s broker in order to list on the MLS — have done nothing to decrease agent commissions.

Legal 410

Legal Contracts Sellers Buyers 410

Housing Wire

NOVEMBER 13, 2020

In today’s red-hot market, you need a real estate agent who can get creative, play hardball in negotiations, and help you stand out from the pack in a bidding war. And not everyone — even an agent recommended to you by a friend or loved one — is up to the task. Do I have to sign a contract and, if so, how is it structured?

Real Estate Agent 545

Real Estate Agent Real Estate Agents Contracts 545

Housing Wire

FEBRUARY 29, 2024

In its statement, the DOJ advocated for the prohibition of cooperative compensation, meaning that “sellers would be responsible for determining only the compensation of their own broker in the listing contract … [and] buyers would be responsible for determining the compensation of their own broker in a buyer-broker representation contract.”

Legal 375

Legal Contracts Sellers Buyers 375

Realtor

MAY 17, 2023

While it’s certainly true that you can let go of the anxiety of needing to show your home at any moment, you still need to cooperate with your buyer, the buyer’s agent, and the commitments made in the contract. As a seller, here’s what you need to know about the settlement process.

Sellers 142

Sellers Inspection Contracts Property Taxes 142

Housing Wire

MAY 1, 2024

According to Barton, the “substance of the settlement” is a “very reasonable middle path forward for the industry, where commissions are communicated between sellers and buyers and both parties are better educated.” These are not our Premier Agent partners,” Barton said. Barton also touched upon the terms of NAR’s settlement agreement.

Agents 357

Agents Real Estate Contracts Real Estate Agent 357

Miller Samuel

APRIL 29, 2020

Throughout my career, I have seen brokerage firms publish pending/contract reports, touting pending trends as more reliable than reports based on closings. The simplistic, uninformed argument for pending sales is that contract dates occur before closing dates, so they are more current. I plan to develop one someday.

Contracts 195

Contracts Real Estate Agent Inspection Law 195

Housing Wire

APRIL 15, 2024

Although more agents are fielding questions about the commission lawsuits than they were a quarter ago , they also remain optimistic about where the housing market is headed in the second quarter of 2024, according to the RealTrends Q2 2024 AgentPulse survey. In a similar vein, “getting listings” was the third-largest hurdle cited by agents.

Inventory 387

Inventory Agents Real Estate Sellers 387

Raleigh Realty

FEBRUARY 24, 2022

What Does 'Under Contract' Mean in Real Estate? You've decided to buy a home and whether it's your first home or your tenth you're likely to stumble across homes that are listed as 'under contract' on the real estate listing. Then, you look at the status and that other shoe finally has a chance to drop: it's "under contract."

Contracts 147

Contracts Real Estate Sellers Real Estate Agent 147

Housing Wire

OCTOBER 16, 2023

Not to mention the current mortgage rates at decades-high levels as well as sellers who are locked in with pandemic low rates. Here are the following strategies agents can use to guide first-time homebuyers toward achieving this monumental step. Sellers are even using this as a tool to attract buyers. It never will be.

Agents 396

Agents Buyers Sellers Inventory 396

Housing Wire

FEBRUARY 16, 2024

The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states. According to the DOJ, when a seller makes an offer of compensation to the buyer broker, the buyer broker does not need to compete on their compensation price in order to attract clients.

Sellers 423

Sellers Buyers Real Estate Contracts 423

Hank Miller Team

SEPTEMBER 14, 2022

Well what's old is new; let's get ready for the return of verbal (mostly) combat regarding seller's disclosures. Can the seller change the disclosure after contract? "it depends" Issues with the seller's disclosure tend to be the most common thing buyers and sellers lock horns over.

Contracts 52

Contracts Sellers Buyers Law 52

Housing Wire

MARCH 20, 2024

The company monetizes its platform’s traffic in a variety of ways, primarily by selling leads, software-as-a-service tools for agents and advertising services. However, the company still makes the vast majority of its revenue – 75% in 2023 – from the services it provides brokers and agents in the for-sale residential market.

Investors 410

Investors Agents Real Estate Buyers 410

Housing Wire

MARCH 28, 2024

The change enabled greater flexibility and choice for sellers when listing a property and gave buyers and buyers’ brokers a vehicle for negotiating for compensation when making an offer to purchase,“ NWMLS wrote in the filing. NWMLS counters that these rule changes increased transparency and removed the potential for steering. “The

Sellers 352

Sellers Contracts Buyers Realtors 352

Housing Wire

OCTOBER 23, 2023

During her deposition, Warner agreed that HomeServices’ franchise agreements stipulate that the independent contractors need to abide by the NAR Code of Ethics, but that agents don’t necessarily have to belong to NAR. Warner claimed that Blefari’s statements were not a rule for agents to follow, but an example of what Blefari would do.

Law 415

Law Agents Realtors Contracts 415

Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

Sellers 414

Sellers Buyers Real Estate Agents 414

Housing Wire

JULY 19, 2023

A typical commission dispute arises when, after signing a listing agreement or buyer-broker agreement: A seller-client “cancels” a valid purchase contract. A seller-client cancels a listing. A seller-client permits the property to be foreclosed upon. Confirm that your brokerage documents (e.g.,

Real Estate 311

Real Estate Legal Brokerage Clients 311

Housing Wire

FEBRUARY 27, 2024

It’s no secret that homeowners search online to find a listing agent who can sell their home quickly and for top dollar. If you’re an agent, team or brokerage looking to keep a pipeline of qualified listing leads coming your way, SmartZip may the solution you need. But what if you could find them first?

Advertising 378

Advertising Tools Real Estate Sellers 378

Housing Wire

MARCH 28, 2024

Originally filed in March 2019, the Moehrl lawsuit alleges that real estate industry participants including HomeServices, the National Association of Realtors (NAR), Anywhere , RE/MAX and Keller Williams conspired to artificially inflate real estate agent commissions. The class encompasses home sellers across 20 local MLSs.

Real Estate Agent 357

Real Estate Agent Realtors Real Estate Sellers 357

Housing Wire

NOVEMBER 2, 2023

Real estate agents are always looking for vetted, high-quality leads — and especially so during 2023 market conditions. These providers offer a rapid and cost-effective means for real estate agents to gather a list of potential clients and ultimately boost sales.

Real Estate 371

Real Estate Real Estate Agent Tools Agents 371

Hank Miller Team

FEBRUARY 8, 2022

So what happens if the appraisal is below contract price? Appraisals below contract price will continue to be a challenge in 2022. Consider, appraisals this year will be using data from the already insane market of 2021 and many will still fall below contract. Most important, buyers and sellers should QUALIFY THEIR AGENT.

Contracts 98

Contracts Appraisal Sellers Buyers 98

Housing Wire

OCTOBER 20, 2023

According to Ketchmark, the buyer’s agent portion of the commission on Ellis home sale accounted for 20.55% of her net equity, meaning the commissions for both agents ate up roughly 40% of the equity she had accumulated on the property. “It We had no problem paying for an agent to sell our house,” Burnett said.

Contracts 389

Contracts Agents Buyers Real Estate 389

Housing Wire

MARCH 29, 2024

The first change is that MLS PIN is agreeing to obtain certificates from their seller clients saying that they understand that MLS PIN does not require sellers to offer compensation to buyer brokers and that sellers are not required to compensate the buyer’s broker even when asked to by the buyer.

Sellers 418

Sellers Real Estate Buyers Contracts 418

Housing Wire

OCTOBER 23, 2023

We usually represent the sell side of the deal and work with firms that range in size from small, one-office, 10-agent shops to the largest in the nation. This includes financials, organizational documents, agent productivity reports, operating metrics, vendor contracts, lease agreements, employment agreements, insurance documents, and more.

Real Estate 353

Real Estate Brokerage Valuation Contracts 353

Empire Appraisal Group

DECEMBER 14, 2023

1 in 3 Sellers Granting Buyer Concessions By Kerry Smith Two Fla. SEATTLE – Home sellers gave concessions to buyers in 35% of U.S. Tampa, however, saw a rise in seller concessions to 43.1% in 2022 The data is based on sales by Redfin’s agents. metros were in that ballpark: Miami (35.4%) and Orlando (34.3%).

Sellers 78

Sellers Buyers Agents Contracts 78

Inman

DECEMBER 15, 2023

Still, a record number of contracts were canceled. Listings and pending sales hit the highest level in roughly a year, according to a new report from Redfin.

Sellers 168

Sellers Contracts Buyers Agents 168

The Robert Weiler Company

JANUARY 2, 2021

In real estate, buyers and sellers must be knowledgeable to make informed decisions. Are you familiar with a land contract in Ohio, as well as the state-specific requirements? What is a land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in: Farmland or raw land.

Contracts 143

Contracts Tenants Legal Sellers 143

Housing Wire

JANUARY 4, 2024

Brokers turn to robust agent training According to our survey, brokerage leaders aren’t sitting around waiting for change to occur. They are boosting their agent training programs to provide more transparency around compensation and how to have those discussions with buyers and sellers.

Brokerage 388

Brokerage Real Estate Training Buyers 388

Hank Miller Team

OCTOBER 24, 2023

Real estate contracts occasionally collapse due to Buyer problems, but what if the Seller bails out? Can a Buyer sue a Seller if they refuse to close? What used to be infrequent is becoming more common; Sellers backing out of contracts. The seller, not wanting to wait for resolution, initiates termination.

Sellers 52

Sellers Buyers Contracts Legal 52