Housing Wire

NOVEMBER 1, 2023

The real estate industry as agents and brokers know it has been turned upside down. It remains to be seen exactly what the guilty verdict in the Sitzer/Burnett commission lawsuit means for agents and brokers, as the industry waits for Judge Stephen Bough’s injunction. However, real estate brokers across the country have already begun preparing themselves, their firms and their agents for the worst.

Open Houses 479

Open Houses Brokerage Agents Realtors 479

Sacramento Appraisal Blog

NOVEMBER 1, 2023

Pricing low on purpose can be a triggering issue. I know both buyers and agents can get extremely frustrated to have to enter a bidding war. And let’s not even talk about auction platforms. But pricing low is pretty much the norm in the Bay Area. People have always told me that, and I finally […] The post Pricing low on purpose: Bay Area vs Sacramento first appeared on Sacramento Appraisal Blog.

Agents 361

Agents Buyers Appraisal Housing Market 361

Housing Wire

NOVEMBER 1, 2023

Zillow Group has entered into an agreement to acquire CRM system , Follow Up Boss , according to an announcement on Wednesday. The acquisition purchase price includes $400 million of initial cash consideration and up to $100 million in potential cash earnout. “Follow Up Boss is beloved by agents across the industry, including many Zillow Premier Agent partners and ShowingTime+ clients.

Agents 479

Agents Clients Real Estate Investing 479

Real Estate News

NOVEMBER 1, 2023

The home search giant’s latest acquisition will help support its “housing super app," said Chief Industry Development Officer Errol Samuelson.

Development 313

Development 313

Housing Wire

NOVEMBER 1, 2023

In addition to discussing Zillow’s financial results and the continual evolution of its Housing Super App vision on its third quarter earnings call, CEO Rich Barton and Zillow executives took time to address the elephant in the room: the verdict of the Sitzer/Burnett commission lawsuit. While the industry has yet to find out what Judge Stephen Bough’s injunction will say and the three defendants, the National Association of Realtors , Keller Williams and HomeServices of America , have vowed

Real Estate 458

Real Estate Advertising Agents Realtors 458

Real Estate News

NOVEMBER 1, 2023

The Sitzer/Burnett trial may be over, but a final judgment — which could impact both monetary damages and commissions rules — is yet to come.

284

284

George Dell

NOVEMBER 1, 2023

Biased Appraisals: A Cause or Symptom? In biology, there is a distinction between “proximate cause” and “ultimate cause.” In appraisology, the proximate (immediate) cause of valuation bias is the appraiser’s opinion. – For example, the appraiser reporting a “too high” number shows the ‘impact’ proximate bias. The ultimate (underlying) cause of this bias might be […] The post Biased Regulation?

Valuation 195

Valuation Appraisal 195

Housing Wire

NOVEMBER 1, 2023

The newly-updated Fannie Mae November Selling Guide now bars job offers or contracts for future employment from family members or interested parties involved in a transaction. “We revised our policy to make it clear that when a borrower is scheduled to begin new employment under the terms of an employment offer or contract, the offer or contract cannot be for employment by a family member or interested party to the transaction,” the Selling Guide update explained.

Contracts 432

Contracts Training Sellers Mortgage 432

Real Estate News

NOVEMBER 1, 2023

Despite cutting ties with NAR and touting its consumer advocacy, the brokerage is named in a new lawsuit similar to the Sitzer/Burnett and Moehrl cases.

Brokerage 231

Brokerage 231

Housing Wire

NOVEMBER 1, 2023

Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? In metros across the country, decade after decade, pre-internet and post-internet, buyer agents almost always get 2-3% of the sale price, paid by the seller, the researchers note.

Clients 432

Clients Agents Buyers Sellers 432

Real Estate News

NOVEMBER 1, 2023

During the Q3 earnings call, CEO Rich Barton discussed the Sitzer/Burnett verdict and how it could affect Zillow — and the industry as a whole.

215

215

Housing Wire

NOVEMBER 1, 2023

The Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% for a third time this year. However, with inflation still exceeding the committee’s 2% target and the economic growth rate nearing a two-year high, another rate hike in December remains possible. “In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tigh

Finance 431

Finance Mortgage Realtors Investors 431

Inman

NOVEMBER 1, 2023

Zillow is shoring up its Home Loans business by ratcheting up pressure on Flex agents, who refer clients to the mortgage arm or risk losing future leads, tech advisor Mike DelPrete writes.

Agents 193

Agents Mortgage Clients Business 193

Housing Wire

NOVEMBER 1, 2023

Just hours after securing a victory for his home seller clients in the landmark Sitzer/Burnett commission lawsuit, Michael Ketchmark, the lead attorney for the plaintiffs, filed another class action antitrust lawsuit against some of the real estate industry’s biggest players, in U.S. District Court for Western Missouri. Let’s break down the case and the potential implications for the industry.

Real Estate 421

Real Estate Brokerage Sellers Law 421

Inman

NOVEMBER 1, 2023

At virtual Inman Connect on Wednesday, Anthony Lamacchia of the Crush it in Real Estate training platform revealed the two most important points to share with clients in the current market.

Training 190

Training Real Estate Clients Marketing 190

Housing Wire

NOVEMBER 1, 2023

Mortgage applications fell for the third week in a row as mortgage rates surged toward 8%. For the week ending Oct. 27, total home loan applications fell 2.1% compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association (MBA). “The impact of higher rates continued to be felt across both purchase and refinance markets,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement.

Mortgage 421

Mortgage Government Marketing Finance 421

Inman

NOVEMBER 1, 2023

Despite being praised as "matadorable" weeks before by a judge, the luxury CEO's performance of the Argentine tango on Halloween was not strong enough to get him the combined judges and audience scores needed to survive the competition.

Brokerage 190

Brokerage Agents 190

Housing Wire

NOVEMBER 1, 2023

Appraisal technology company Accurate Group announced this week that it has acquired Voxtur Appraisal Services , an appraisal management company (AMC). Voxtur primarily serves real estate finance providers and specializes in broker-price opinions (BPOs), alternative valuation methods and traditional appraisals. Voxtur US sold 100% of the outstanding membership interests in Voxtur Appraisal Services to Accurate Group for $30 million, with $26 million paid in cash on closing, according to a news r

Appraisal 421

Appraisal Valuation Clients Real Estate 421

Inman

NOVEMBER 1, 2023

Offerpad's agent partnership program gives agents another tool when making listing presentations, and pays them a 3 percent referral fee when their client accepts an offer from the iBuyer.

Tools 187

Tools Agents Sellers Clients 187

Housing Wire

NOVEMBER 1, 2023

Michael Gifford and David Zvaifler‘s home equity investment company, Splitero , lost its main investor, Redwood Trust , HousingWire has learned. According to an internal presentation deck, the startup had secured more than $1 billion in committed capital. Out of that figure, $750 million was supposed to come from Redwood, representing 75% of the total capital.

Investors 421

Investors Investing Contracts Loan Officers 421

Inman

NOVEMBER 1, 2023

In her latest Inman Connect session, Get Social Smart Academy CEO Katie Lance explains the power of thoughtful planning, daily engagement and authenticity when creating a valuable social media strategy.

Marketing 184

Marketing 184

Housing Wire

NOVEMBER 1, 2023

Payroll connectivity platform Argyle and ICE Mortgage Technology have partnered to allow lenders access real-time income and employment data for borrowers throughout the loan origination process. The integration was built on the latest Encompass Partner Connect Application Programming Interface (API) and is available through ICE Mortgage Technology.

Mortgage 408

Mortgage Technology Investors Clients 408

Inman

NOVEMBER 1, 2023

How can you level up your marketing with high-value offerings? Here’s Keller Williams VP and bestselling author Jay Papasan’s list of value adds that your sphere won’t soon forget.

Marketing 180

Marketing Agents 180

Eyes on Housing

NOVEMBER 1, 2023

The Federal Reserve’s monetary policy committee held the federal funds rate at a top target rate of 5.5% at the conclusion of its November meeting. While noting that the Fed was “strongly” committed to reducing inflation to its target rate, this marked the second meeting in a row of no increase as the central bank examines incoming data. The Fed’s.

174

174

Inman

NOVEMBER 1, 2023

In this Inman Connect panel, Kymber Lovett-Menkiti speaks with business leaders about attracting and keeping the best of the best in 2024 by establishing a value proposition, creating exposure and cultivating culture.

Business 184

Business Brokerage Agents 184

Eyes on Housing

NOVEMBER 1, 2023

Financial conditions continue to be tight, as the 10-year Treasury rate stands near 4.8% this morning. Among the factors leading to higher rates (more debt issuance, higher-for-longer monetary policy expectations, long-term fiscal deficit conditions, and strong current GDP growth data for the third quarter) is an ongoing, elevated count of open jobs for the overall economy.

Construction 103

Construction Marketing 103

Inman

NOVEMBER 1, 2023

As we watch the technological evolution of AI unfold, the idea of a modern-day crystal ball in real estate seems less like fantasy. Sheila Reddy explains how machine learning and AI could help your business in the future, more than you might think.

Real Estate 180

Real Estate Modernization Technology Business 180

Eyes on Housing

NOVEMBER 1, 2023

NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.6% in September, after a 1.3% increase in August. It stood at a seasonally adjusted annual pace of $872 billion. However, total private residential construction spending is still 2.2% lower compared to a year ago. The total construction monthly increase is attributed to more spending on.

Construction 97

Construction 97

Inman

NOVEMBER 1, 2023

Kelman said during virtual Inman Connect on Wednesday that pressure from the bombshell lawsuits and the Department of Justice may ultimately lead to "a different world" than the one that exists today.

Brokerage 180

Brokerage Agents 180

GoForrmz

NOVEMBER 1, 2023

Learn how to customize and configure your digital forms Welcome back to the Intro to GoFormz webinar series, a three-part video walkthrough on getting started with GoFormz and learning about all the features that can help you streamline your paper processes and data capture. Join Alicia Bryan, Director of Customer Success, and Implementation Lead, Emily Switzer, as they walk you through the process of configuring more advanced form fields and features, like calculations and dynamic fields.

78

78

Inman

NOVEMBER 1, 2023

During a live session Wednesday at virtual Connect, Brad Inman moderated a panel with Russ Cofano and Kendall Bonner on what lies ahead for agents as the commission model is upended.

Agents 170

Agents Brokerage 170

BiggerPockets

NOVEMBER 1, 2023

When it comes to the rabbit hole of real estate investing options, the word "turnkey" is among the most commonly used but poorly applied terms around. Here are seven common myths and why you should invest in these properties.

Investing 79

Investing Real Estate 79

Inman

NOVEMBER 1, 2023

"You're in it for the career, not for the year," Kymber Lovett-Menkiti says as she leads this Inman Connect panel discussion about creating a thriving culture.

Real Estate Agent 184

Real Estate Agent Real Estate Agents 184

Lamacchia Realty

NOVEMBER 1, 2023

Lamacchia Realty’s Florida Regional Vice President and Vice President of Relocation, Shane Bronson , has officially been appointed as a Florida REALTORS® Director for 2024. For over 25 years in real estate, Shane has established himself as a well-respected figure in the industry. He has a comprehensive skillset which includes back-office administration, sales, ownership, management, relocation services, and business development within the realm of real estate.

Realtors 72

Realtors Realty Real Estate Training 72