article thumbnail

Opinion: Sitzer/Burnett decision presents an uncertain future for buyer agents

Housing Wire

Real estate agents are facing a contracting issue that could seriously upend the traditional housing landscape. Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. Most successful loan officers get their business from buyer agent referrals.

Agents 458
article thumbnail

How 2020 exposed a greater need for collaboration between real estate agents and LOs

Housing Wire

Technology has given consumers the power of choice and expedited the entire real estate purchasing process. But we also must acknowledge that the core definition of any stimulus is to implement something that causes an immediate, short-term response. VL: So many areas could benefit by embracing digitalization.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Desperate for deals, mortgage pros get creative

Housing Wire

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. Niche loans consist of about 5% of Parkinson’s business. “It’s Being on multiple builders’ lists is a way to rack up more deals for loan officers. “A

article thumbnail

‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

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 504
article thumbnail

nCino Acquires Digital Homeownership Software Company SimpleNexus

Appraisal Buzz

a cloud banking and digital transformation solutions company for the global financial services industry, has entered into a definitive agreement to acquire SimpleNexus in a stock and cash transaction valued at approximately $1.2 nCino Inc. , When we first started nCino, our mission was clear: to transform the financial.

article thumbnail

Will a Part-Time Real Estate Agent Salary Be Enough for You?

McKissock

Becoming a real estate agent requires a giant leap of faith and an investment of time and money. That’s why some agents may choose to test the waters with a part-time real estate position while hanging onto a steady income from another job. Join a real estate team that can handle administrative work.

article thumbnail

Should you refinance to a 15-year mortgage in 2021?

Housing Wire

If you’re thinking about refinancing your mortgage, here are five reasons why you might want to act now and reach out to a loan officer. This strategy is definitely something for borrowers to consider if they’re able to make the higher monthly payments and meet the qualifications for a shorter-term loan,” he said.

Mortgage 525