Mon.Sep 18, 2023

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RE/MAX settles buyer broker commission lawsuits for $55 million

Housing Wire

Yet another national real estate brokerage firm has reached a settlement agreement in two of the major class action antitrust lawsuits facing the real estate industry. 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.

Buyers 491
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RE/MAX makes $55 million deal to settle commission lawsuits

Real Estate News

The settlement agreement leaves NAR, HomeServices of America and Keller Williams as defendants with an Oct. 16 trial date looming.

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Dark Matter Technologies execs talk transition from Black Knight, innovation in the mortgage tech space

Housing Wire

Dark Matter Technologies , formerly Black Knight Origination Technologies, is focused on mainly two things: the smooth transition to new owners, and lowering the cost to originate loans for lenders. Executives from Dark Matter Technologies, under the Constellation Software umbrella, said that a down market is the best time to make investments in technology and prepare for the next cycle.

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'Day of action' brings calls for change to NAR’s doorstep

Real Estate News

The NAR Accountability Project and its allies laid out their four-point plan during an event outside the organization’s Chicago headquarters on Monday.

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Opinion: Are we facing the end of the Realtor marketplace?

Housing Wire

I have spoken numerous times over the past 35 years about the fairness and efficiency of what I refer to as the Realtor marketplace , which is a combination of a multiple listing service with Realtor association oversight, supported by a majority of brokerage firms and sales agents. The provision of abundant information with rules that govern the conduct of all market participants, whether Realtors or non-Realtors, serves all parties well.

Realtors 432
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RE/MAX settles bombshell commission lawsuits for $55M

Inman

The deal resolves claims in both the Sitzer and Moehrl antitrust cases. The franchisor agreed to change its business practices, including "no longer forcing homesellers to pay buyer’s agents.

Agents 207

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Compass aims to save agents 'time and money' with AI tool

Real Estate News

The brokerage has launched a new ChatGPT-based tool to help agents “accelerate their workflow” by crafting listing descriptions and more.

Tools 206
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Fannie Mae’s Stacey Shifman on the latest in mortgage tech

Housing Wire

When it comes to the latest innovations in housing tech, adaptability and continuous learning have become indispensable virtues for industry pros immersed in the world of mortgage tech. Fortunately, leaders like Stacey Shifman , vice president of consumer credit analytics at Fannie Mae, have perfected the art of maintaining a constant state of curiosity when it comes to tech.

Mortgage 432
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NAR loses ‘Great Place to Work’ distinction on heels of Chicago rally

Inman

A rally at NAR headquarters in Chicago drew few Realtors on Monday, but organizers at the NAR Accountability Project declared a win nonetheless after NAR lost its "Great Place to Work" merit.

Realtors 194
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How to protect your title company from wire fraud

Housing Wire

In today’s evolving technological landscape, wire fraud is a pervasive risk, particularly in real estate transactions. According to the FBI’s 2022 Internet Crime Report , the problem is only worsening, with an 86% increase in monetary losses in the real estate industry since 2020. For title professionals, understanding and countering this threat is paramount.

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Is your love affair with real estate over, or do you just need a new gig?

Inman

Trainer and marketing expert Rachael Hite encourages agents who are considering making a move this fall to have a heart to heart with themselves, their finances, and give the serious business of making a move to a new team or brokerage this fall the consideration it deserves.

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The Indispensable Role of Real Estate Appraisals in Estate Planning

Boston Appraisal

Estate planning is a complex, multifaceted endeavor that requires the expertise of various professionals, including attorneys, accountants, and financial planners. But often, the role of the real estate appraiser is overlooked. As industry leaders in both residential and commercial real estate valuations, Boston Appraisal Services deeply understands the critical contribution that precise appraisals make in the estate planning matrix.

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Tips for navigating cultural and language differences with international buyers

Inman

Some luxury real estate agents might be mystified that their Chinese buyers don’t want a home situated right beside a scenic lake or river. But for Janet Moore, Global Luxury Real Estate Advisor at Premier Sotheby’s International Realty, it would be fairly obvious that such a property is breaking a cardinal rule of feng shui. After all, she’s been representing luxury buyers in Asian markets for more than 12 years.

Buyers 180
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[Video] Customer Story: DiCAN

GoForrmz

“ What I like most about GoFormz is we could make it look exactly like our pen and paper forms that we have been using for the last 15 years. ” — Lisa Van Tol, Operations & Scheduling Coordinator, DiCAN, Inc. About DiCAN DiCAN has been operating out of Ontario, Canada since 2000, offering innovative fleet safety solutions in both the United States and Canada.

Design 78
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Unleash your brand’s potential: 5 tactics for online niche marketing

Inman

Tune in to this Inman Access episode and gain insider tips from Philip Hordijk on the importance of how to identify, cultivate and market to your own unique niche audience to build business.

Marketing 179
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Cities are Cracking Down on Short-Term Rentals—What Does It Mean For Investors?

BiggerPockets

Nationwide, cities continue to impose new regulations on short-term rentals, effectively putting Airbnb hosts out of business in some areas. How can investors protect themselves?

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Head of LoanDepot’s retail division steps into newly created role

Inman

Dan Hanson, the former head of loanDepot's retail division, will develop "new revenue-generating opportunities" as the mortgage lender's executive director of enterprise partnerships and acquisitions.

Retail 173
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Exclusive Feature: The Benefits of Outsourcing

Mortgagebroker News

Look no further than Intellifi’s Business Process Outsourcing (BPO) – the perfect outsourcing provider trusted by mortgage professionals to handle all their most important business arrangements

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How to navigate the fall housing market: What you need to know

Inman

Join Inman Access and tune in to today's video class featuring Matthew Gardner as he provides an informative forecast on the fall housing market and what to expect in the coming months.

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The Government Wants to Make FHA Mortgages More Accessible—How Will This Impact Investors?

BiggerPockets

With housing affordability at all-time lows, the government is looking to increase the availability of these loans. What doors does this open for investors?

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Delta Media Group aims for peak customization in new app release

Inman

Customizable and powered in part by artificial intelligence, Delta Media Group’s latest product release is ready to help the industry be more creative in a mobile environment.

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Exclusive Feature: Scarlett Genius

Mortgagebroker News

At Scarlett Mortgage, we believe streamlining your workflow as a mortgage professional is everything, and it can be the difference between struggling in the business and finding the success that you deserve

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Mild recession, elevated mortgage rates eyed in 2024: Fannie Mae

Inman

Fannie Mae economists predict "mild recession" next year, but say mortgage rates may not ease as much as previously expected.

Mortgage 189
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Exclusive Feature: CENTUM’s Innovative Mortgage Calculator

Mortgagebroker News

CENTUM Financial Group is pleased to announce the launch of the new groundbreaking Mortgage Calculator, now available on the Century 21 Canada website

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5 ways to soothe your team’s toughest growing pains

Inman

As COO of Livian at Keller Williams, here's what Erin McCormick Torres wishes she had known upfront about the challenges of building a large organization.

Brokerage 172
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Exclusive Feature: Scarlett Genius Axiom

Mortgagebroker News

At Scarlett Genius, we believe streamlining your workflow as a mortgage professional is everything, and it can be the difference between struggling in the business and finding the success that you deserve

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Buyers cancel contracts in droves as prices and interest rates soar

Inman

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

Contracts 176
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Exclusive Feature: Choosing a Top Private Lending Partner

Mortgagebroker News

With nearly two decades of experience in the industry, Taylor Lewis, the Director of Mortgages Operations and Strategic Partnerships at Canadian Mortgages Inc.

Lending 75
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WATCH: Keeping the homeownership dream alive

Inman

Higher mortgage rates and rising home prices are leaving many people feeling priced out of their dream home.

Mortgage 176
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Exclusive Feature: Choosing a Top Private Lending Partner

Mortgagebroker News

With nearly two decades of experience in the industry, Taylor Lewis, the Director of Mortgages Operations and Strategic Partnerships at Canadian Mortgages Inc.

Lending 71
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The Late Starter’s Guide to Retirement with Real Estate (40s, 50s, or 60s!)

BiggerPockets

Can you start real estate investing in your 40s, 50s, or 60s?

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CMHC adjusts expectations for the pace of home construction

Mortgagebroker News

The market is being weighed down by the ongoing shortfall in housing construction, Crown corporation says

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Homebuilders are no longer feeling good

Housing Wire

For the first time in five months, homebuilder sentiment levels dropped below the key break-even measure of 50, mostly reflecting the difficulties of persistent 7% mortgage rates. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report showed that builder confidence fell 5 points in September to a reading of 45, following a six-point drop in August.

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Canada should speed up the conversion of empty offices into homes, says former deputy PM

Mortgagebroker News

The federal government should also consider removing the GST from other types of housing developments, says Sheila Copps