Thu.Apr 25, 2024

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Former Keller Williams agents continue their legal actions 

Housing Wire

Keller Williams was named to an additional class-action lawsuit on Thursday that, like other recent cases, takes issue with alterations made to the brokerage’s profit-sharing program. In the past few weeks, 13 agents formerly affiliated with Keller Williams — Jerri Moulder, David Bueker, Robert Hill, Kevin Ortiz, Edward Fordyce, Paul Davis, Penny Alper, Jana and Dennis Caudill, Eric Mendoza, Jack Levine, John Exnicios and Michael Devlin — took legal action against the real estate brokerage by fi

Legal 266
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NAR deal ‘could be detrimental’ to Black agents, buyers

Real Estate News

In a conversation with Real Estate News, Dr. Courtney Johnson Rose of NAREB discussed the pros and cons of the recent settlement and upcoming rule changes.

Buyers 159
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Pending home sales post a modest gain in March:  NAR

Housing Wire

Pending home sales increased by 3.4% in March compared to February despite rising mortgage rates , according to data released Thursday by the National Association of Realtors (NAR). Sales were essentially flat compared to one year ago. NAR’s Pending Home Sales Index increased to 78.2 in March, up from 75.6 in February and good for its highest reading in a year.

Inventory 266
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Glenn Sanford: ‘Our real goals are not domestic’

Real Estate News

During the T3 Leadership Summit, the eXp founder discussed some of his early challenges, the need for internal disruption, and his international ambitions.

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Anywhere reports losses during the slower winter season

Housing Wire

Anywhere Real Estate felt the brunt of the challenging housing market again in the first quarter of 2024 as the company reported a loss of $101 million during the three-month period. It generated $1.1 billion in revenue in the first quarter of 2024, which was flat on a year-over-year basis. But transaction volume increased by 2% during the three-month period, marking the first annualized increase in two years.

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Anywhere focused on cost-cutting as revenue holds steady

Real Estate News

Revenue and agent count dipped slightly, but the company highlighted the strength of its Sotheby’s brand and its progress toward a $100 million savings goal.

Agents 146

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Mixed market signals: Mortgage rates shoot up, sales trend positive

Real Estate News

Even as interest rates and prices keep rising, new and pending home sales have ticked up.

Marketing 159
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Kristen Sieffert leads the reverse mortgage presence at The Gathering

Housing Wire

Kristen Sieffert, president of Finance of America Reverse, speaks during The Gathering by HousingWire on Monday, April 21, 2024. Photo credit: AJ Canaria Reverse mortgages became an unexpectedly prominent topic during certain parts of The Gathering by HousingWire , held earlier this week in Scottsdale, Arizona. The reverse lending industry’s most prominent attendee — Kristen Sieffert of Finance of America Companies (FOA), parent company of industry-leading lender Finance of America Reverse (FAR)

Mortgage 246
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Sitzer | Burnett judge consolidates 2 nationwide commission suits

Inman

The Gibson and Umpa cases allege Berkshire Hathaway Energy, eXp, Redfin, Weichert, United Real Estate, Douglas Elliman, HomeSmart and others conspired against homesellers nationwide.

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CHLA president addresses various consumer protection measures

Housing Wire

Taylor Stork, president of the Community Home Lenders of America, speaks at The Gathering by HousingWire on Wednesday, April 25, 2024. Photo credit: AJ Canaria It was initially billed as a discussion centered on the “biggest threats to a healthy mortgage landscape for homebuyers,” but some breaking news disrupted some of those plans. The Consumer Financial Protection Bureau (CFPB) expanded its war on “junk fees“ to encompass mortgage servicing minutes before a session at The Gathering by Housing

Insurance 246
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Stop micromanaging your agents. It’s time to start leading them

Inman

Growing and scaling a team is one of leadership's most challenging yet rewarding aspects. Side's Manny Solis shares insights to consider when examining your own leadership style.

Agents 98
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reAlpha launches AI-powered buyers’ agent chatbot

Housing Wire

Real estate technology company reAlpha Tech Corp. launched Claire, a generative artificial intelligence -powered, zero-commission buyers’ agent chatbot, the company announced on Wednesday. Claire boasts a conversational interface to guide users through every step of the homebuying journey, from property search to deal closing. The tool helps match buyers with the ideal property while providing insights into market trends and property values.

Buyers 246
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Housing Share of GDP Surpasses 16% for First Time Since 2022

Eyes on Housing

Housing’s share of the economy rose to 16.1% in the first quarter of 2024. The share remained below 16% for all of 2023 at 15.9% in each of the four quarters. This increase to above 16% marks the first-time housing’s share of GDP is above 16% since 2022. In the first quarter, the more cyclical.

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Financial results worsened for IMBs in 2023: MBA 

Housing Wire

Independent mortgage banks ( IMBs ) and mortgage subsidiaries of chartered banks lost an average of $1,056 on each loan they originated in 2023, down from an average loss of $301 per loan in 2022, according to data released Thursday by the Mortgage Bankers Association (MBA). This was the largest loss recorded in the 15 years that MBA has tracked production data. “ Mortgage lender financial results worsened in 2023 with the average net production loss moving to 37 basis points from losses of 13 b

Valuation 246
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Anywhere’s revenue holds steady in Q1 amid ‘tough’ housing market

Inman

Generated revenue remained flat at $1.1 billion from the same period a year ago while the franchisor improved net losses by 27 percent year over year to a loss of $101 million, according to a Thursday earnings call.

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Survey shows that discrimination in housing persists: Zillow

Housing Wire

The majority of respondents to a recent Zillow survey said they have experienced discrimination in housing, with racial minorities and members of the LGBTQ+ community among the groups reporting fair housing issues at even higher rates. Zillow surveyed more than 12,000 adults across 26 U.S. metro areas in March and April to gain a “comprehensive understanding” of the fair housing landscape.

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10 essential brand-building tips for first-year real estate agents

Inman

When it comes to your personal brand, coach Darryl Davis writes, it's a case of say what you mean, and mean what you say about service.

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GAO highlights reverse mortgage counseling in new report

Housing Wire

Older adults and people with disabilities are often prone to financial distress, and they may require more resources to better understand their circumstances and options, according to a new report from the Government Accountability Office (GAO). Among a series of 24 examples of federal financial literacy programs for these groups, the U.S. Department of Housing and Urban Development (HUD)’s Home Equity Conversion Mortgage (HECM) counseling program was cited as an example.

Mortgage 246
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Broker Spotlight: Nancy Almodovar, Nan and Co. Properties

Inman

Find out how award-winning Houston broker-owner Nancy Almodovar differentiates her service and elevates her agents at Nan and Company Properties.

Agents 102
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NAF’s Gatling: Recognize that diverse communities are the norm

Housing Wire

The way that someone refers to the concept of diverse communities in their interactions with consumers and housing professionals can be a key indicator about their mindset. Antiquated terminology should be checked and minimized for anyone who wants to keep up with the times. That was one of the messages shared by Mosi Gatling, senior vice president of strategic growth and expansion at New American Funding (NAF), during a session at The Gathering by HousingWire held in Scottsdale, Arizona, this w

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U.S. Economic Growth Slows in First Quarter

Eyes on Housing

Compared to the fourth quarter of 2023, the U.S. economy grew at a noticeably slower pace in the first quarter of 2024 due to an increase in the trade deficit and weaker inventory investment. But it was still on solid ground supported by consumers, the government, and the housing industry. Meanwhile, the data from the.

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Wendy Forsythe joins eXp Realty as chief marketing officer

Housing Wire

Real estate brokerage eXp Realty has added industry veteran Wendy Forsythe to its leadership team. On Thursday, the firm announced that Forsythe was joining eXp as its new chief marketing officer. According to the release, in this role, Forsythe will be responsible for building the firm’s marketing strategies and global initiatives, working to expand the company’s brand visibility.

Realty 246
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Growing real estate portal Movoto inks exclusive GreatSchools deal

Inman

The deal will make Movoto the sole provider of some GreatSchools data. It also comes as portals compete to differentiate themselves.

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Canada's 'crisis-level' mortgage bond buying could raise debt costs: CMHC

Mortgagebroker News

Government’s increased mortgage bond-buying spree could backfire, housing agency warns

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Best real estate apps for agents in 2024

Housing Wire

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. In 2024, agents have two choices; learn how to run your entire business from the apps on your phone or tablet, or find a new career. The days of running back to the office to write a tricky email to a client, follow up with a lead, or post on social media are long gone — and they’re never coming back.

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Canada unveils plan to use public lands for affordable housing push

Mortgagebroker News

New initiatives under Budget 2024 aim to transform surplus government properties into homes

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Buyers are struggling to compete in the white-hot Cincinnati market

Housing Wire

Monika DeRoussel was in a meeting, away from her phone and email, when a client messaged her that a property in their price range and desired neighborhood had a for-sale sign in the yard. When the meeting concluded, DeRoussel quickly reached out to the seller’s agent to see if her client could get in for a tour, but it was too late. “I called the listing agent and it was listed three hours ago, but it was sold,” the Cincinnati, Ohio -based eXp Realty agent said.

Buyers 256
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When to cut? BoC officials disagree on interest rate timing

Mortgagebroker News

Governing council split as some seek more inflation proof, others eye slowdown

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HUD details funding, policy support for green homes and climate resilience

Housing Wire

The U.S. Department of Housing and Urban Development (HUD) on Thursday detailed a series of actions and initiatives it has undertaken to bolster climate resiliency while supporting green housing initiatives that stem from Inflation Reduction Act funding and recently announced plans to combat the effects of extreme heat. HUD highlighted actions taken to advance climate resiliency, energy efficiency, carbon reduction, environmental justice considerations and interagency partnerships to address the

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MCAN Mortgage hunts for new finance chief after CFO exit

Mortgagebroker News

Interim CFO appointed as search launches for permanent replacement

Finance 36
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Implementing IoT Solutions for Real-Time Field Service Monitoring

GoForrmz

Streamlining field service operations through digital innovation As those in the field service industry know all too well, the ability to monitor field service operations in real-time is crucial for ensuring efficiency, productivity, and customer satisfaction, With the advent of Internet of Things (IoT) technology, companies in various industries, from manufacturing to utilities, are leveraging connected devices to streamline their field service management processes.

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First Circle Financial director talks market trends, broker focus

Mortgagebroker News

Executive on the latest from the MIC space

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April 2024 Home Data Index Market Report

Clear Capital

The April 2024 Home Data Index (HDI®) Market Report shows national quarter-over-quarter (QoQ) home price growth is at 1.9 percent. Download the report , or read it below. About the Clear Capital Home Data Index (HDI®) Market Report and Forecast The Clear Capital HDI Market Report and Forecast provides insights into market trends and other leading indices for the real estate market at the national and local levels.

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Brokers on Lenders 2024: Entries now open

Mortgagebroker News

Brokers, rate your lender partners now

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