Housing Wire

NOVEMBER 20, 2023

The Sitzer/Burnett trial out of Kansas City found the National Association of Realtors (NAR) guilty of conspiring to inflate agent commissions — sparking a debate over agent commission fees and the longstanding role of buyer agents in real estate transactions. But what happens if consumers pivot away from buyer agents altogether?

Agents 399

Agents Buyers Real Estate Agent Loan Officers 399

Housing Wire

JANUARY 11, 2023

And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. . According to industry watchers, sellers are attracting buyers to their homes through mortgage rate buydowns. In the third quarter of 2022 and the fourth quarter of 2021, sellers gave concessions in 30% of home sales.

Sellers 523

Sellers Mortgage Loan Officers Buyers 523

Housing Wire

MARCH 7, 2024

Home sellers looking to maximize their sale price may want to avoid the start of the busy spring buying season and list their properties closer to the midpoint of the year, according to a Zillow analysis released Thursday. If mortgage rates follow, that could bring another surge of buyers later this year.”

Sellers 390

Sellers Buyers Real Estate Inventory 390

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. “We

Buyers 467

Buyers Contracts Real Estate Agents 467

Housing Wire

FEBRUARY 26, 2024

Last year at this time, we were seeing surprising home buyer demand with rates having fallen to the low 6s. We still see more sellers than last year. We are in the normal range with price reductions, meaning sellers are generally fine, generally getting their prices. More sellers with price cuts than a year ago.

Sellers 415

Sellers Inventory New Listings Contracts 415

Housing Wire

MAY 14, 2024

“Most of the demand is coming from first-time buyers,” Trevor Levin, a local agent with Los Angeles-based Nourmand & Associates , said. Nationwide, the share of buyers who are first-time buyers has risen in recent months. Nationwide, the share of buyers who are first-time buyers has risen in recent months.

Buyers 377

Buyers Inventory Landlords Real Estate 377

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 361

Buyers Contracts Agents Realtors 361

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 381

Real Estate Sellers Real Estate Agent Tools 381

Housing Wire

JANUARY 10, 2023

of home sellers gave concessions to homebuyers in Q4 of 2022, through money for repairs and mortgage-rate buydowns. In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales. United Wholesale Mortgage also expanded temporary buydown options for jumbo loans in December to attract more business.

Sellers 449

Sellers Real Estate Agent Buyers Mortgage 449

Housing Wire

FEBRUARY 2, 2024

Real estate brokerage eXp Realty has entered into an affiliated business agreement with Orlando, Florida -based title fi r m Citrus Closing Group , according to an announcement on Thursday. “We This is the second title-affiliated business agreement eXp has announced in the past year.

Business 313

Business Realty Brokerage Real Estate 313

Housing Wire

MARCH 28, 2024

Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit. For lenders, the market offers the prospect of a new and growing line of business.

Business 412

Business Finance Buyers Lending 412

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. million … into a qualified settlement fund. million for both lawsuits.

Buyers 483

Buyers Realtors Agents Real Estate 483

Inman

NOVEMBER 16, 2023

NAR’s 2023 Profile of Home Buyers and Sellers has just been released, and it’s packed with insights that can help you take your business to the next level in 2024. According to trainer Bernice Ross, the most important insights concern your lead generation and lead conversion.

Sellers 143

Sellers Buyers Business Realtors 143

Housing Wire

DECEMBER 28, 2023

Coming off of the pandemic banner years, thinning origination volume, low inventory and soaring home prices made business much harder to come by for LOs in 2023. The inventory puts a cap on how much business we can do. They are staying busy relative to the market,” said Michael Ullmann, producing branch leader at Movement Mortgage.

Business 413

Business Mortgage Loan Officers Inventory 413

Housing Wire

JULY 21, 2023

The nation’s second largest multiple listing service , Bright MLS , will begin allowing listing agents to put in a blanket offer of compensation for buyer brokers of zero dollars or more, starting on August 9. While Bright MLS, which serves clients in Delaware, Pennsylvania, Maryland, Virginia, New Jersey, Washington, D.C.,

Buyers 370

Buyers Clients Sellers Realtors 370

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 381

Clients Buyers Real Estate Agent Real Estate 381

Housing Wire

NOVEMBER 23, 2022

What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. In a high-rate environment, lenders call the temporary rate buydown a win-win strategy for both sellers and buyers when used appropriately. in the second year.

Buyers 464

Buyers Marketing Sellers Loan Officers 464

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 378

Real Estate Buyers Tools Real Estate Agent 378

Housing Wire

MARCH 13, 2024

Now we are looking at a two- to three- business-day process and the buyer may not like the numbers they get back.” For some buyers, surprisingly high insurance premiums are causing them to second-guess the property they have selected. “I On nearby Chincoteague Island, Virginia, Long & Foster Real Estate agent Meghan O.

Real Estate Agent 432

Real Estate Agent Insurance Real Estate Agents 432

Housing Wire

MARCH 14, 2024

No matter where you are in the state, real estate agents in Virginia are facing low inventory conditions that are creating frustrating scenarios for their buyers. “I I have buyers that are looking, but to find a house that you love enough to pay a high price for — and to be at over a 6.5% In Wise County , there were only 56 listings.

Inventory 388

Inventory Buyers Agents Real Estate 388

Housing Wire

MAY 3, 2024

The business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement ,will go into effect on Aug. In addition, agents and brokers will be required to provide compensation disclosures to sellers.

Sellers 442

Sellers Legal Buyers Realtors 442

Housing Wire

NOVEMBER 16, 2022

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Based on numerous interviews with mergers and acquisitions experts, we dove into the 2023 IMB buyer profile. Who wants to be in the mortgage business? trillion to $1.7

Buyers 402

Buyers Mortgage Sellers Investing 402

Housing Wire

MAY 30, 2024

BR: This really came out of decades of being in the mortgage business. When I originated loans, there were a certain number of people that just didn’t need an agent — because the buyers and sellers knew each other in some fashion. I started thinking about it in 2018, it was kind of a transitionary year for me, in business.

Real Estate Agent 362

Real Estate Agent Real Estate Sellers Agents 362

Housing Wire

SEPTEMBER 7, 2023

Probably about 60 to 70% of our business comes from referrals from our previous clients,” Chris Gallo, a top producing LO in New Jersey, said. Attorneys, Realtors and clients are a big part of our repeat business.” Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs.

Buyers 383

Buyers Agents Loan Officers Real Estate 383

Housing Wire

MAY 30, 2023

Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. We are fully committed to our lending business, which supports independent mortgage originators,” UBS spokesperson Erica Chase told Bloomberg in an email.

Business 354

Business Mortgage Finance Design 354

Housing Wire

FEBRUARY 22, 2024

Growing and changing is vital to expand your services and business growth so that you can tailor services in REO. Presently, the demand for existing homes outpaces the available supply, raising potential concerns for both sellers and buyers. Demand for existing homes — including REO assets — outpaces the available supply.

Business 356

Business Marketing Real Estate Legal 356

Housing Wire

MAY 30, 2024

14, Bright MLS will eliminate its commission field, preventing listing agents from advertising any commissions they offer to buyer brokers. A written and signed buyer agreement will also be required to show properties listed on the MLS. “We Ahead of these changes, Bright MLS will introduce a new field for seller concessions on June 11.

Agents 330

Agents Advertising Real Estate Agent Buyers 330

Housing Wire

MARCH 20, 2024

False: The NAR settlement will, for the first time, allow sellers to no longer pay compensation for an agent bringing the buyer. There has never been an obligation for a seller to pay buyer agent compensation , yet it is a practice that’s worked well.

Sellers 450

Sellers Real Estate Realtors Realty 450

Housing Wire

MARCH 4, 2024

At HousingWire , we have a debate about whether home sellers will freeze up again this year as mortgage rates stay stubbornly high. We’ve had seller growth for 18 weeks in a row. More sellers means more sales. Will sellers retreat entirely, like they did last year? But will rates deter sellers also?

Inventory 473

Inventory Sellers Buyers Real Estate 473

Housing Wire

APRIL 3, 2023

” Rocket says there are more than 20,000 partner agents through its Rocket Homes business. . ” Rocket says there are more than 20,000 partner agents through its Rocket Homes business. The Detroit-based lender is launching a number of products to boost its purchase business in a high-rate environment.

Agents 389

Agents Buyers Real Estate Agent Mortgage 389

Housing Wire

APRIL 13, 2021

Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If

Housing Market 532

Housing Market Buyers Marketing Real Estate Agent 532

Housing Wire

MAY 1, 2024

Less than a week after HomeServices of America settled the home seller commission lawsuits for $250 million , the firm again finds itself in the crosshairs of antitrust litigation. Lutz’s attorneys wrote that this has “led to higher home prices paid by buyers.” “

Sellers 396

Sellers Realtors Real Estate Agent Real Estate 396

Housing Wire

MAY 2, 2024

Training and production top challenges Training real estate agents on new business practices resulting from the NAR commission settlement is tops when it comes to brokerage challenges. My agents are well trained and prepared as we use a Buyer Broker Agreement and have buyers offset any [brokerage compensation] that the sellers do not pay.

Brokerage 358

Brokerage Training Real Estate Real Estate Agent 358

Lamacchia Realty

MARCH 25, 2024

March 22, 2024 – The International Business Journal published an article highlighting Anthony Lamacchia and how he has come to the front lines to advocate for the real estate industry throughout the ongoing Buyer Commission lawsuit that the National Association of REALTORS® has been battling for months.

Buyers 57

Buyers Business Realtors Government 57

Housing Wire

MARCH 22, 2021

For mortgage brokers looking to make the jump to mortgage banking, non-delegated lending is the perfect way to build the resume they need on their journey to a fully delegated, agency-approved seller and servicer. JH: We’ve taken a slow, methodical and purposeful approach to the non-delegated business.

Business 438

Business Lending Investors Sellers 438

Appraisal Buzz

MAY 20, 2024

When the market enters a phase more favorable to sellers, appraisers may find themselves caught in a crossfire between what buyers think is fair and what the homeowner expects. Navigate a seller’s market by considering the following. If rates are over 20% , you’re in a seller’s market.

Appraisal 370

Appraisal Marketing Sellers Valuation 370

Housing Wire

MARCH 25, 2024

They noted that NAR’s settlement prohibits disclosing offers of cooperative compensation, broker compensation or total broker compensation, but it does not address including remarks noting that buyer agent compensation will not be offered. Seller concessions is money that is being given by the seller directly to the buyer,” Papasan said.

Agents 396

Agents Advertising Real Estate Buyers 396