Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

Buyers 501

Buyers Agents Mortgage Real Estate Agent 501

Housing Wire

NOVEMBER 7, 2023

It’s a fact: Buyer-side commissions are no longer a guarantee and no longer an entitlement. Builders don’t all pay the same buyer-side commissions; some don’t pay any buyer-side commissions. So how do you provide overwhelming value to your buyer clients? For Sale By Owners are the same. Be a matchmaker.

Clients 396

Clients Buyers Real Estate Agent Real Estate 396

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 431

Real Estate Agent Real Estate Buyers Agents 431

Inman

SEPTEMBER 18, 2023

Nearly 60,000 home purchase contracts were canceled nationwide during August, according to Redfin's report.

Contracts 172

Contracts Buyers Marketing Mortgage 172

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said.

Buyers 411

Buyers Mortgage New Listings Real Estate Agent 411

Housing Wire

NOVEMBER 29, 2023

In the ever-competitive real estate market, creating a consistent flow of real estate buyer leads is strategy for success. But beyond first-timers, we’ll show you how to attract real estate buyers of all kinds through a multi-tiered marketing approach that boosts both your visibility and credibility with potential buyers.

Real Estate 390

Real Estate Buyers Tools Real Estate Agent 390

Sacramento Appraisal Blog

SEPTEMBER 21, 2021

Are buyers finally gaining more power? The truth is the market is still ultra-competitive, but there is a slightly better chance buyers can get into contract these days and maybe not pay as much above the asking price (maybe).

Buyers 403

Buyers Housing Market Marketing Contracts 403

Housing Wire

NOVEMBER 23, 2022

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. It gives the buyer and seller the feeling of beating the mutual enemy, ‘the market,’ and gaming the system.”.

Buyers 469

Buyers Marketing Sellers Loan Officers 469

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

Inman

JANUARY 25, 2024

Frances Katzen and Courtney Poulos spoke with moderator Dana Cadena about the importance of buyer representation, challenges to professionalism in the industry and more during an ICNY panel on Thursday.

Contracts 166

Contracts Agents Buyers Real Estate 166

Housing Wire

JANUARY 25, 2023

As mortgage rates continue to decline, Chad Earnest’s mantra with his referral partners in 2023 is “no buyer left behind.” Homebuying activity remains tepid, but if rates continue to fall and home prices cool further, we expect to see potential buyers come back into the market.

Buyers 475

Buyers Mortgage Real Estate Agent Contracts 475

Housing Wire

JUNE 23, 2022

Co-founded in 2019 by Tim Herman and Louis Wilson, the lender and “power buyer” allows homebuyers to make all-cash offers to compete with institutional investors. UpEquity earns a commission from brokering or selling the mortgage buyers take out to buy their homes.

Buyers 361

Buyers Investors Technology Training 361

Appraisal Buzz

AUGUST 5, 2021

Record-high home prices may be causing some buyers to retreat, as affordability continues to play a factor in homebuyers’ decisions. Fewer Listings Under Contract YoY in July appeared first on theMReport.com. Fewer Listings Under Contract YoY in July appeared first on Appraisal Buzz. The post 7.3% The post 7.3%

Contracts 195

Contracts Buyers Appraisal 195

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

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. You’ve got current economic conditions that are not opportunistic for a homebuyer right now, inflation is still out there and it’s all constraining buyers’ ability to spend. “You’ve

Agents 390

Agents Buyers Loan Officers Real Estate 390

Will Springer Realtor

MAY 2, 2023

Home buyers are consumers. They have safeguards built in to written agreements such as a purchase contract on a home. These buyers also have the right to either add or omit some of those available rights when their real estate broker drafts an offer. FINANCING The financing contingency is critical for the buyer.

Contracts 53

Contracts Buyers HOA Inspection 53

Housing Wire

JANUARY 25, 2023

Buyers who qualify in these metro areas can use the assistance to purchase a house anywhere in the U.S., Guaranteed Rate renewed its contract with translation company TransPerfect on Tuesday to provide homebuyers with Spanish-speaking agents and other resources. Its total loan volume amounted to $116 billion in 2021.

Buyers 380

Buyers Contracts Insurance Mortgage 380

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 418

Legal Contracts Sellers Buyers 418

Housing Wire

APRIL 13, 2021

“If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”. Garrett said aside from cash buyers, he also has clients who have money to offset any appraisal gap. Either way, it puts the squeeze on property valuation.

Housing Market 533

Housing Market Buyers Marketing Real Estate Agent 533

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 384

Legal Contracts Sellers Buyers 384

Movoto

APRIL 8, 2024

After submitting an offer on a home you plan to purchase, a few things might happen – once an offer is accepted (typically, after negotiations but not always), real estate sales agreements come into effect between buyers and sellers. In the case of an impasse, contingencies allow buyers to renegotiate or back out of the sale without penalty.

Contracts 36

Contracts Real Estate Property Taxes Legal 36

Housing Wire

MAY 28, 2021

Diving deeper, for the two week period ending May 9, 2021, 57% of homes that went under contract had an accepted offer within the first two weeks on the market. The severe lack of inventory in today’s housing market has been a source of stress for home buyers and real estate agents alike. But that’s not slowing down buyers.

Buyers 417

Buyers Real Estate Agent Real Estate Inventory 417

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.

Sellers 363

Sellers Contracts Buyers Realtors 363

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

Sacramento Appraisal Blog

MAY 5, 2021

“Buyers are crazy!!! How can they be paying these prices?” ” That’s what we tend to hear from people who are NOT trying to buy a house right now. It seems like onlookers really don’t understand what it takes to get an offer accepted these days. But for anyone actually in the game, the truth is […].

Buyers 404

Buyers Contracts Housing Market Appraisal 404

Housing Wire

APRIL 22, 2021

“I’m on my way with a client to show them a house that’s literally just gotten on the market, and by the time we get there, it’s already under contract with someone else,” she said. The post North Carolina’s low home prices luring buyers appeared first on HousingWire. “It’s just insane.

Buyers 427

Buyers Inventory Renovations Realty 427

Hank Miller Team

FEBRUARY 8, 2022

So what happens if the appraisal is below contract price? The early '22 market is already showing it'll be as tight or tighter than the '20 & '21 markets, buyers are tossing off all constraints to "win" the beauty contest of buying a home. Appraisals below contract price will continue to be a challenge in 2022.

Contracts 98

Contracts Appraisal Sellers Buyers 98

Cleveland Appraisal Blog

JULY 20, 2022

An appraisal gap clause can be written into a contract. It states that the buyer will still purchase the home at the contract price, even if the appraised value is lower than the contract price by a certain amount. In this hot market, it’s not surprising that this type of clause is being written into some contracts.

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Appraisal Market Value Contracts Buyers 397

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 172

Sellers Contracts Buyers Agents 172

Housing Wire

FEBRUARY 29, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Meanwhile, new home sales , which are also a measure of contract signings, reached a seasonally adjusted annual rate of 661,000 in January, up 1.5% NAR’s Pending Home Sales Index (PHSI) decreased to 74.3 in January, down from 77.3 in December.

Contracts 403

Contracts Inventory Realtors New Listings 403

Housing Wire

APRIL 4, 2024

The complaint states that Jutla is bringing the action against Redfin “for unlawfully agreeing and conspiring to enact and enforce anticompetitive restrictions on Realtors contracting behavior, causing the Plaintiff to pay inflated buyer’s agent commissions on the sale of her home, as well as tandem purchase of a home in California.”

Realtors 356

Realtors Agents Sellers Real Estate 356

National Association of Realtors

JANUARY 24, 2022

The fraction of buyers who are waiving appraisal and inspection contract contingencies has been trending downwards in recent months, with REALTORS® saying that 19% of buyers waived the inspection contingency in December 2021, down from 27% in July, and 21% waived the appraisal contingency, down from 29% in June.

Inspection 81

Inspection Contracts Realtors Buyers 81

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 427

Sellers Buyers Real Estate Contracts 427

Housing Wire

OCTOBER 20, 2023

So far, week one of the Sitzer/Burnett bombshell class action antitrust buyer broker commission lawsuit has seen four of the five named plaintiffs testify in front of the jury. The buyer who chose them and who they’re working for should pay them,” Ellis said. She did a good job for him [the buyer], but I had to pay her commission.”

Contracts 395

Contracts Agents Buyers Real Estate 395

Housing Wire

SEPTEMBER 28, 2023

An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said.

Housing Market 448

Housing Market Contracts Government Buyers 448

Housing Wire

MARCH 29, 2024

In its proposed brief, CMLS writes that in its statement of interest, the DOJ is looking for “an injunction that prohibits offers of buyer broker compensation by MLS PIN participants.” Second, the trade group points out that the practice of sellers and listing brokers paying buyer brokers is lawful throughout MLS PIN’s service area.

Sellers 423

Sellers Real Estate Buyers Contracts 423

Housing Wire

AUGUST 30, 2023

An index of 100 is equal to the level of contract activity in 2001. “The small gain in contract signings shows the potential for further increases in light of the fact that many people have lost out on multiple home buying offers,” said NAR Chief Economist Lawrence Yun.

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Inventory Contracts Buyers Realtors 413