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Midwest housing markets good for first-time homebuyers: Zillow

Housing Wire

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

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Majority of recent homebuyers have regrets: survey

Housing Wire

The respondents included 420 people who bought a home in 2023 or 2024, and another 500 who plan to do so in 2024 or 2025. “We We found that buyers stepping into the 2024 housing market have much to learn from previous shoppers,” the report stated. More than 80% of recent buyers asked for at least one seller concession.

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LendingPulse Q2 2023 survey: Mortgage pros share their biggest concerns, market outlook

Housing Wire

Industry players are largely pessimistic about the economic climate and expect interest rates to trend up in the near term future, according to the HousingWire Q2 2023 LenderPulse survey. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced.

Mortgage 328
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RE/MAX to lean on high agent productivity during turbulent times

Housing Wire

But despite the uncertainty and the soon-to-beimplemented business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement , RE/MAX leaders are confident in the brokerage’s ability to succeed in this changing environment. million in Q1 2023. annual decline in revenue to $78.3

Agents 351
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Q4 BrokerPulse: Commission lawsuits spur proactive changes for real estate brokers

Housing Wire

As the commission lawsuits heat up, real estate brokers are gearing up to add buyer representation agreements and training, cut costs and hone value propositions, according to RealTrends Q4 2023 BrokerPulse survey. Another 10% are honing their value proposition , particularly as it relates to buyers’ agents.

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Despite industry headwinds, Real believes it can continue growing agent count

Housing Wire

The coming changes that Poleg referenced are the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement. By our math, in 2023, we paid out the highest percentage of revenue in commission splits and revenue share than any of our direct public peers,” Poleg said.

Agents 423
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The Real Brokerage settles Umpa commission lawsuit for $9.25M

Housing Wire

In addition to the monetary award, Real has also agreed to implement business policy changes as part of the settlement, including “clarifications about the negotiability of commissions, prohibitions on claims that buyer agent services are free, and the inclusion of listing broker compensation offers in communications with clients.”

Brokerage 365